I Have a Chase Card and Wish I Lived in Canada LoL

[LoneRanger]

https://www.usatoday.com/story/mone...l-credit-card-debt-customers/1964419001/

Cheers to any Canadian Forum members who have a credit account with Chase, your balance is forgiven !!!

 

[csandste]

Kind of like forgiving student loans. Would have ticked me off had i struggled to pay it off in June.

 

[earlyre]

Originally Posted by LoneRanger


I Have a Chase Card and Wish I Lived in Canada LoL


you and me both pal... not JUST for this reason... but it'd be the icing on the cake...

 

[tig1]

In the end you folks will pay dearly. JMO

 

[Lolvoguy]

Originally Posted by tig1
In the end you folks will pay dearly. JMO

Trust me, there's many other ways we pay that you 'mericans save.
Heck, just look at the majority of consumer goods. The premium we pay on them in a year or two is easily enough to equal the average cardholders balance.

 

[eljefino]

Someone on the inside must have discovered they were in violation of some Canadian law and wanted a swift exit without examination.

 

[slacktide_bitog]

Originally Posted by eljefino
Someone on the inside must have discovered they were in violation of some Canadian law and wanted a swift exit without examination.

 

[Powerglide]

Chase made a business decision. Its execs think that forgiving all that Canadian cc debt will be substantially less than the projected default rate/balance in the next 2-5 years. Personally, I think the hugely inflated big city real estate market in Canada will collapse and cause rampant consumer debt default. Here in the US of A, there will be a TON of cheap late model cars for sale late next year when those loans default.

 

[Snagglefoot]

Haven't you heard? It's sunny ways up here.

 

[CarbonSteel]

Originally Posted by tig1
In the end you folks will pay dearly. JMO
With Chase firmly rooted in the US, I wonder who "you folks" will be? Oh, I know...everyone...

 

[MrMoody]

Originally Posted by 2015_PSD
With Chase firmly rooted in the US, I wonder who "you folks" will be? Oh, I know...everyone...

Right, they will have to be bailed out, or else economic Armageddon will ensue. I closed their high rate card years ago, and glad I did.

 

[fdcg27]

I know, right?
Have to wonder what the Canadians have on Chase for Chase to simply forgive all debts and bail?
More to come?
Maybe.

 

[Snagglefoot]

Hoser Holiday!

 

[Powerglide]

Governments often come down hard on deceptive trade practices. Especially socialist governments. When the fines, investigations and penalties exceed Chase's line item figuring in their crookery exceeds their estimate on this practice as "the cost of sales" they'll cut and run-as they appear to be doing. Wells Fargo got stung here in the US. But they'll throw enough feel good marketing at the public's short memory and be right back in business soon enough-taking a whole new group of American middle class consumers to the cleaners. Chase will do the same thing. Buyer beware! Oh-and Uncle Sam's in the same business He just calls it taxes.

 

[KGMtech]

No such luck for this Canuck.

 

[Garak]

I wish I had gotten one.

Neither of their Canadian credit cards really appealed to me, though, and I don't carry balances. Oh well. They do run a good service for merchants, I must say.

 

[TN Tracker]

Great for Canadian folks but just like prescription meds we Americans will pay dearly for the debt forgiveness.

 

[dave1251]

Originally Posted by Lolvoguy
Originally Posted by tig1
In the end you folks will pay dearly. JMO

Trust me, there's many other ways we pay that you 'mericans save.
Heck, just look at the majority of consumer goods. The premium we pay on them in a year or two is easily enough to equal the average cardholders balance.



Well socialism isn't free.

 

[Garak]

The other side of the coin is that banks do make a killing up here. Our own TD Bank, when you're up here, you need something like a $1500 balance to have fees waived. In the States, TD's threshold is around $150. For those who use cheques, you don't want to be buying them from your bank, either. You don't even want to ask the costs of banking for the average business at a chartered bank in Canada.

 

[donnyj08]

Originally Posted by Powerglide
Chase made a business decision. Its execs think that forgiving all that Canadian cc debt will be substantially less than the projected default rate/balance in the next 2-5 years. Personally, I think the hugely inflated big city real estate market in Canada will collapse and cause rampant consumer debt default. Here in the US of A, there will be a TON of cheap late model cars for sale late next year when those loans default.



Debt forgiveness Is not a new Idea. Early Israel had years of Jubilee every so often where debt was forgiven allowing the economy to restart. People borrow until they collapse entire economies. We saw this in Japan in the 90s, the US in 2008, and we are seeing it in China right now. Too much Debt=failure.