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

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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…

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