Bankers giving away money.

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09 August 2019, 04:59 PM

wtg

Bankers giving away money.

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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We are all visitors to this time, this place. We are just passing through. Our purpose here is to observe, to learn, to grow, to love… and then we return home. - Australian Aboriginal proverb

Bazootiehead-in-training

10 August 2019, 03:00 AM

Daniel

I beg to differ. Forgiving debt is not giving away money.

10 August 2019, 03:04 AM

Steve Miller

Why did they do that?

And why are they getting out of Canada?

10 August 2019, 08:49 AM

jon-nyc

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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If you think looting is bad wait until I tell you about civil forfeiture.