All Canadian customers of Chase bank that had an outstanding credit card balance have been forgiven. This all came from Chase’s decision to get out of the Canadian credit card market.
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“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,” – Maria Martinez, Vice President of Communications
Chase has not revealed how many Canadian customers or how much money they forgive with their latest move. They had the option to sell the debt, but it sounds like they wanted to break clean from the Canadian credit card market.
I wonder why Chase was so desperately wanted to get out of the credit card business in Canada?
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