Chase is Forgiving ALL Customer Debt On These Credit Cards….
… in Canada.
If you’re in the US, yes, sorry….. that was a super click-baity title.
But it’s true.
JP Morgan Chase Ends Credit Card Operations in Canada and Forgives All Existing Debt to Do So
Chase has made the decision that servicing credit card customers in Canada is just not profitable.
It had previously ceased offering all cards in the Canadian market following a 13 year run in the country, with the Marriott Visa and Amazon Visa their last products. While you couldn’t get the cards since mid-2018, they were still servicing existing accounts.
And they made the decision that having operations to handle the revolving lines and debt repayment on those two cards was more trouble than it was worth.
So, they’ve sent out letters that they will be closing the accounts and forgiving any associated debt.
I’m sure some US-based readers would be OK losing a card to this scenario!
Hat Tip to MilesTalker Adinda V and cbc.ca.
Are you a Canadian Reader? Was Your Debt Forgiven?
You can find credit cards that best match your spending habits and bonus categories at Your Best Credit Cards.
New to all of this? My “introduction to miles and points” book, MilesTalk: Live Your Wildest Travel Dreams Using Miles and Points is available on Amazon and at major booksellers.