Imagine having over $5,000 worth of credit debt and then seeing your account listed as closed. Would you think it was some kind of sick joke? Would you jump for joy? This is exactly what happened to several Canadians who had a Chase Bank VISA card.

Chase Bank, under the umbrella of JPMorgan Chase & Co., closed all their credit card accounts in March 2018. Even though accounts were closed, customers were still expected to continue to pay off their debt.

On Friday, the American-based bank announced that they would be forgiving all outstanding accounts and balances for their syrup loving customers. Talk about an ultimate gift from America to Canada wrapped in a whole lot of love and forgiveness.

According to the CBC, Chase Bank is getting out of the Canadian credit card market after 13 years. In order to completely bow out, all of the outstanding balances had to be squared away. There was one problem, several customers were still paying off their accounts. How could Chase Bank make their grand exit? Erasing credit card debt of course. Can this please happen to my American Express? Asking for half of America.

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