That changed on Friday when the company decided to forgive all outstanding balances on either of its two VISA cards as part of their exit following 13 years in the Canadian credit card market, according to the CBC.
“Chase made the decision to exit the Canadian credit card market,” said Maria Martinez, vice president of communications for Chase Card Services. “As part of that exit, all credit card accounts were closed on or before March 2018. A further business decision has been made to forgive all outstanding balances in order to complete the exit.”
The reactions from customers throughout Canada range from shock, disbelief to joy as people who owed thousands on their credit cards had all that debt wiped away in an instant.
“I was sort of over the moon all last night, with a smile on my face,” Douglas Turner of Ontario, who owed more than $4,500 on his card, told the CBC. “I couldn’t believe it.”