Chase Canada getting rid of, Marriott Visa cards: What you need to know

Chase is closing all and Marriott Visa cards accounts as of March 15. .

If you have a Canadian Chase credit card you may want to start looking for a new rewards program.

Last week, Chase Canada announced it’s getting rid of the Rewards Visa and Marriott Rewards Premier Visa starting March 15.

READ MORE: Canada’s best credit cards to rack up travel rewards points

Both credit cards offered a rare Canadian credit card feature — no foreign transaction fees.

Chase Canada sent out a letter to cardholders saying, “The credit card relationship between JPMorgan Chase Bank, N.A. in Canada and is ending.” A similar letter was sent to Marriott credit card holders.

This news was not a complete surprise, as months ago the company stopped taking applications for both credit cards.

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What will happen to your account?

  • As of March 15, you will no longer be able to use your Visa and Marriott Visa for new transactions.
  • You will also no longer be able to enroll for a new online account for both credit cards.
  • The annual interest date on your card will not change once the account is closed.
  • Chase Canada is asking all cardholders to destroy cards or cheques associated with the account.
  • If you had unredeemed cash back points on your account prior to closure, Chase will apply a statement credit to your account for the cashback amount.
  • You will still earn rewards on purchases made before March 15.

READ MORE: The average Canadian owes $8,500 in consumer debt, excluding their mortgage: Ipsos poll

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How to pay an outstanding bill after March 15?

  • You will continue to receive your monthly statements until any outstanding balance is paid.
  • You can pay your balance in full or continue to make payments until your balance is paid off. You can do this by:
    • Online banking
    • Telephone banking
    • Teller or ATM

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