If you're a certain Chase credit card account holder in Canada, there's good news: The firm is forgiving those balances. Credit card debt forgiveness is such a rarity that experts warn not to expect it to happen to you.
If you're an owner of a Chase Canadian credit card, there's good news: The bank is forgiving your balance.
The U.S. bank has taken the extremely rare move of wiping out consumer debts to hasten its exit of that market.For some Canadian credit card holders, dreams do come true. J.P. Morgan Chase Bank has decided to forgive the outstanding debt of its credit card holders. That includes the Amazon.ca Rewards Visa and the Marriott Rewards Premier Visa branded cards.The U.S. bank decided to exit the Canadian credit card market last year. The affected accounts were closed by March 2018. Now, to complete the departure, the bank is also wiping out any outstanding balances.
The company may have decided that just forgiving the debt was an easier, cleaner and faster way to be done with the cards, rather than selling the debts to a third party, he said.VIDEO
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