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 Amazon.ca Rewards Visa and Marriott Rewards Premier Visa starting March 15.
Both credit cards offered a rare Canadian credit card feature — no foreign transaction fees.
Chase Canada sent out a letter to Amazon.ca cardholders saying, “The credit card relationship between JPMorgan Chase Bank, N.A. in Canada and Amazon.ca 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 Amazon.ca 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.
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