Posted on 08/08/2019 6:50:39 AM PDT by mkleesma
Hello Chase?
I identify as Canadian...
Good news, we have voided your card and canceled your debt to our bank.
Bad news, attached is the Canadian equivalent of IRS form 1099 which is being reported as income to you.
Perhaps they will be able to extract some money from you that we cannot.
Good day
Didn’t we the people give out trillions to banks in 2008?
I would take that deal any day. If I could borrow money, have the debt forgiven, and then had to pay taxes on the “income” I would borrow billions.
CONGRATULATIONS! YOU get to pay off THEIR DEBT through higher fees and rates, ain’t that grand... NOT!
“Affected customers can’t believe their luck.”
And those of us in the US who have Chase cards, will be footing the bill, because these a$$holes never “forgive” anything. They will simply be shifting their losses to American cardholders.
Adding this to my Chase ban list of 30 years. Pay off the credit card in full and on time but they send out a balance due the next month even if nothing is charged to the account. Why? Because, well, duuuh, by their calculations you owe financing charges for the lag time of when they mailed the statement to you to the time they deposited your paid in full and on time payment. Hotel California where the only way you get out is by sending in the $5 non-refundable ransom payment for imaginary interest charges on zero balances in the future or call your lawyer over a never ending 35 cents.
...$6,157 still owing on his now-defunct Amazon Visa.
___________________________
I have never owed that much in credit charges even on several cards combined.
If I put an expensive item on a card, it is the only item on that card until it is fully paid off. And by expensive I mean a new wood stove at $2000. Paid off in 3 months.
If I can at all pay something off in a month or buy it with cash, I do. And I take 6 months same as cash and points seriously.
If the guy had Amazon Prime, he racked up $300 in points over time.
yes!
.....”shifting their losses to American cardholders”....
Exactly.
We use our credit cards for convenience, and pay them net whatever their billing cycle requires (no longer net 30). The idea that we would put something on a credit card that we could not pay for when the bill comes has been an anathema to us for our whole lives. We actually put 10% of my wife’s last new car on a credit card just for the hell of it. We have never paid a dime of credit card interest, which is usurious. We may not have as much useless $hit we can really do with out as others, but we’re financially solid.
Gee, shouldn had those in my wallet!!
Welcome to USA Prime Credit. My name is Peggy.
[Canada’s just a rounding error to them]
We round the numbers. It’s like taking a penny from the thing. It’s just that we do it a couple of million times.
We’re talking fractions of a penny.
See Bob(s), the problem isn’t that I’m lazy; it’s that I just don’t care. Let me tell you something about TPS reports.
Oops! $300,000!!
Have you seen my red stapler?
(that was a nice stapler - I want one!)
When I think about it, the issue is probably mostly salaries. They might have 15 or 20 FTEs tied up in the department that runs the cards, and they could redeploy them to a more profitable area.
Many well-off people charge $6K, $10K, $15K every month and pay the bill in full. They get fantastic amounts of bonus points.
When I bought a car, they would only take up to $3K charged on a card, but I would have charge the whole thing and paid it off at the end of the month if they had let me.
Overall, Chase has been a blessing. I’ve earned at least $10,000 worth of travel benefits through their various credit cards. Best deal $1,850 savings — met the minimum spend on a $450 credit card to earn points worth $1,600 plus TWO $300 travel credits plus $100 towards global entry. Recently earned 125,000 IHG points worth 8 to 14 free hotel nights (probably worth $1,500+) for a $5,000 spend. My wife and I recently did a 9-night trip through New England and Canada with lodging costs of $68 and credit card annual fees of about $250 (4 free nights worth $1,000+) and free breakfasts everywhere. One more tip... if you’re late on your credit card payment, call quickly to get fees and interest reversed. They’ll normally do this once per year.
I get my CC bills at Chase online and pay online the same day the bill is posted. I’m very paranoid about forgetting to pay.
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