In a shocking move, Chase Bank announced on Thursday that it was going to be forgiving all outstanding credit card debt from its Canadian customers, according to Yahoo Finance. The bank closed all of its credit card accounts in Canada back in March of 2018.
When the accounts were initially closed, customers were told to continue paying down their debt. Now, they’re being told by the company that their debt is cancelled. CBC talked to some customers who got letters from the bank this week.
Douglas Turner of Coe Hill, Ontario, who still owed about $4,500, said:
“I was sort of over the moon all last night, with a smile on my face. I couldn’t believe it. It’s crazy. This stuff doesn’t happen with credit cards. Credit cards are horror stories.”
Turner also said his last payment to the account was also going to be reimbursed. – READ MORE