August 9 Update: Chase Canada to forgive all debt owed on their Canadian Marriott & Amazon Visa cards Aug 10th

How to go about securing the best rate and plan for your credit card in Canada.
Latest News
 discover

Paymi Review: The Value of Cash Rewards + MORE Aug 16th

Are you a Canadian who loves earning loyalty rewards when you shop? If so, you’re in luck. Canadian shoppers now have a couple of apps that automatically collect rewards when you shop at your favourite retailers. In this article, I’ll cover off everything you need to know about Paymi, which is o.... More »
 credit cards

Canada’s Best Balance Transfer Credit Cards 2019 + MORE Aug 13th

Are you longing to be debt-free but struggling with high-interest cards? Then a balance transfer credit card, which allows you to move the balance off of some or all of your credit cards over to this new card at a super low-interest rate if you sign up (sometimes even as low as 0%) can be a good str.... More »
 master card

Top 5 Credit Card Sign Up offers for August - These cards provide some of the best value out of their welcome bonuses + MORE Aug 14th

Here are the Rewards Canada Top 5 Credit Card Sign Up offers for the month of July! This is not a 'best' credit card list like our Top Travel Rewards Credit Card rankings but instead a look at cards that have very good acquisition (sign up) offers. As always when choosing a card you should always .... More »
August 9 Update: Chase Canada to forgive all debt owed on their Canadian Marriott & Amazon Visa cardsEarly in 2018 Chase Canada completely shut down their credit card business. At the time they only had two cards left in their portfolio, their Marriott and Amazon Visa cards as the other cards they had issued previously were taken over other Canadian banks. Although Chase was no longer issuing cards here in Canada they still had cardholders who had outstanding balances from the two cards that were paying those balances off month to month. Well it was revealed yesterday in an article on CBC that Chase made the decision to forgive all the debt owed by Canadians on those cards. That’s right – forgive all that debt. We are unsure of how much debt it is but in all likelihood it isn’t an insane amount – rather something not much more than it costs Chase to continue to operate here. By forgiving this debt, Chase can fully exit our market and not have to worry about carrying the costs involved with their Canadian division. The CBC article which Rewards Canada is quoted in, states some people’s accounts of $1,300 to over $6,000 being forgiving and I have this question to our readers: Are you one of these people who is having some debt forgiven? If so, let us know in the comments below and if you are willing to share, let us know how much is being forgiven! Deep down I feel it won’t be many of you as I know most Rewards Canada readers are points & miles aficionados who tend to pay off their balances every month so as not to have to pay interest since it kills the value of the rewards…

Continue Reading On RewardsCanada.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!