Chase pulls out of Canada; forgives debts

[Deus Vult]

Chase Bank cancels all credit card debt for Canadian customers

Clients ‘over the moon’ at US lender’s move as it withdraws from market

www.theguardian.com

Fascinating that it’s cheaper for chase to forgive the debt than service it. All interesting that there are no buyers for said debt. That doesn’t say much about the strength of the Canadian dollar.

Sorry American chase customers, you’ll be the ones paying the tab. Further proof that Jamie Diamond and his company sucks.

 

[Jewel the Sapphire]

Whaaaaaat...

 

[Scooter2112]

Great White North privilege.

 

[SWeAT hOg]

Wow, that's like a Disney movie thing.

 

[Freddy G]

Chase? Never heard of 'em.

 

[Tone deaf]

That is taxable income. Chase will probably forward the list, of those who had debt cancelled, to the Canadian tax authorities as a little "Thank you."

 

[SWeAT hOg]

Chase? Never heard of 'em.

I haven't seen any branches. I think they only offered credit services up here.

 

[Brians Evil Twin]

Damn, I need to stop paying off my Amazon Chase...

 

[efstop]

Chase was the bank behind Sears Canada Credit. Canada does not consider unpaid loans as income, but the IRS does. They wanted me to fill out a form to them, as I had defaulted on a Sears Canada card. Tore their letter up.

 

[SteveGangi]

Damn. I wish I had one of those cards.

But unless I missed it, there's no explanation of WHY Chase is pulling out. I'd like to know the reason - the real reason, not the "suitable for the press" reason. Did someone get caught doing something shady?

 

[JTM45]

The only thing that gets cancelled in America is dr appointments and careers

 

[pnuggett]

RACIST!!!

 

[PeteK]

Fascinating that it’s cheaper for chase to forgive the debt than service it. All interesting that there are no buyers for said debt.

How is that possible? It seems like every Canadian cardholder would have to stop paying their bill. Also seems unbelievable another bank wouldn't swoop in and buy the debt.

 

[THDNUT]

All you Canadians should've bought R9s on your Chase cards a few months ago.

Hind sight is 20/20

 

[James R]

Dammit!
I’m Canadian, but I thought I was just too smart to carry any significant credit card debt.
Shows what I know.
I wonder if there’s any chance Scotiabank would do the same thing, I could do some pretty decent damage with my credit limit.

 

[PeteK]

My first mortgage was through Chase. That would have been a great debt to be forgiven!

 

[Crotch]

I hate everything about chase Bank. Been trying to get my wife to close her checking there and come to my bank. They even charge 5 bucks for you to use their atm if you don't have an account. Casinos and strip clubs only charge 4 tops. Never saw 5 till I went there. Place sucks

 

[SteveGangi]

I hate everything about chase Bank. Been trying to get my wife to close her checking there and come to my bank. They even charge 5 bucks for you to use their atm if you don't have an account. Casinos and strip clubs only charge 4 tops. Never saw 5 till I went there. Place sucks

Greedy assholes.

They make money off your money, just because you have an account with them. You don't think they "invest" (gamble) with their OWN money after all. If you fuck up you're on the street. If they fuck up, they get bailouts (with your money again).

Also, the "interest" they give you isn't even a pittance. And then they eat that up with fees and charges.

Fucking crooks.

 

[EndGame00]

Chase is smart... It doesnt want unwanted pregancy with Canada....

 

[Stevie 202]

Who the fuck does what now?

Never seen ‘em, don’t know anyone that’s done business with them.