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Bankers giving away money.
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wtg
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posted 09 August 2019 04:59 PM
No, really.

quote:
Chase Bank is forgiving all outstanding debt owed by customers of its two Canadian credit cards as it exits the country’s market.

Customers using the Amazon.ca Rewards Visa and the Marriott Rewards Premier Visa were pleasantly surprised to find the balance on their credit cards had been wiped clean.

The US-based bank, part of the firm JPMorgan Chase & Co, announced in March 2018 that it was closing its two Visa cards and leaving the Canadian credit card market after 13 years.

It confirmed on Thursday that it was forgiving all outstanding debt owed by customers of its two Canadian credit cards.


https://www.theguardian.com/wo...r-canadian-customers


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Daniel
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posted 10 August 2019 03:00 AMHide Post
I beg to differ. Forgiving debt is not giving away money.
 
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Steve Miller
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posted 10 August 2019 03:04 AMHide Post
Why did they do that?

And why are they getting out of Canada? Confused


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jon-nyc
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posted 10 August 2019 08:49 AMHide Post
Fascinating. I can imagine them deciding that it’s cheaper to forgive the debt than to stay in the market for whatever reason, but,I don’t understand why they didn’t just sell it.


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Axtremus
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posted 10 August 2019 09:31 AMHide Post
The expense of selling outstrips the what they could get for it?


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