Major Bank Forgives Debt of Its Canadian Credit Card Holders

Published August 9, 2019 at 3:09 am


If you are an owner of a Chase Bank credit card in Mississauga, you may want to check your balance!

On Thursday (August 8) Chase Bank confirmed in a release that it plans to forgive all outstanding debt owed by users of its two Canadian credit cards.

The move by the company is a result of its exit from Canada’s credit card market.

“Customers with an outstanding balance as of June will no longer see red on their statements,” Chase Bank said in the release.

The total amount of debt forgiven is unknown at this time.

Chase Bank announced the company’s plans to leave the Canadian credit card market in March 2018.

Chase Bank is owned by its parent company: JPMorgan Chase. It was originally founded in 2004 in New York, New York in the U.S. 

Did you have any debt forgiven on your credit card?

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