Chase Bank dramatically CANCELS all credit card debts saving Canadian customers millions
CHASE Bank has dramatically cancelled all debts of its two Canadian credit cards as it exits the country’s market.
Customers using the Amazon.ca Rewards Visa and the Marriott Rewards Premier Visa were elated to find their credit card balance had been wiped clean, saving Canadian customers millions.
The US bank, part of the New York based JPMorgan Chase & Co., closed all credit card accounts in the country in March 2018.
However on Thursday, customers were pleasantly surprised to have been told the outstanding debt is now cancelled.
'IT'S CRAZY'
Maria Martinez, vice president of communications for Chase Card Services, said in a statement: "Chase made the decision to exit the Canadian credit card market.
"As part of that exit, all credit card accounts were closed on or before March 2018. A further business decision has been made to forgive all outstanding balances in order to complete the exit."
Chase declined to say how much debt was forgiven or how many customers were affected.
Douglas Turner, a 55-year-old trucker living in Coe Hill, Ontario, was delighted to learn the bank had wiped clean his £3,860 (C$6,157) debt.
It's crazy. This stuff doesn't happen with credit cards. Credit cards are horror stories
Douglas Turner
He told : “I was sort of over the moon all last night, with a smile on my face. I couldn’t believe it.
"It's crazy. This stuff doesn't happen with credit cards. Credit cards are horror stories."
The 55-year-old trucker also told CBC that his most recent payment on the account would also be reimbursed.
Paul Adamson, a 43-year-old south-western Ontario resident, immediately phoned the bank when he saw the £1,032 (C$1,645) balance on one of his credit cards had been wiped clean.
Adamson told the : "She said: 'Actually, you owe no balance.’"
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She added: "I was a little confused and kind of sceptical at her response. I was stunned, I’ll be honest. I just said: ‘Hey, here’s one more thing we don’t need to worry about.’”
Christine Langlois, of Montreal, told CBC she stopped making payments on her card five years ago.
A 24-year-old university student, she said: "It's kind of like I'm being rewarded for my irresponsibility."
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