Chase Canada (Discontinued)

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What are Grandfathered Credit Cards? (Thoughts on Rogers World Elite Devaluation)

ByMatt

This post was inspired by the upcoming devaluation of the Rogers World Elite credit card, which I will further elaborate on below.

What is the concept of “grandfathered credit cards”? This is a concept that is thrown around a lot, but let’s further clarify what it entails. Most people who are highly active in the miles and points industry are quite familiar with this topic, so this post may not be relevant to you. But if you want to learn about the different variations of grandfathering a card, then keep reading!

This post breaks down the various ways that a credit card company can grandfather a card.

Chase Bank Forgives All Debt Owed by Canadian Customers

ByMatt

In a surprising turn of events, Chase Canada has decided to forgive all outstanding debts owed by former cardholders of the Chase Marriott and Amazon credit cards. Just to recap, back in 2017, Chase Canada shut down two of its most popular credit cards, and then in January 2018, they down the grandfathered cardholders’ accounts.

Even though cards were discontinued, it meant that we can no longer use those cards. However, any outstanding balances are still owed. Chase continued to collect any debts owed to them until now. Seems like Chase has decided to call it quits and leave Canada completely, forgiving any remaining balances.

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Marriott 15 Reward Night Credits Coming Through

ByMatt

It is official, at least for me, Chase Canada has fully honoured what they promised when the closed its Chase Marriott Rewards Premier Visa. Here is a chronology is what has been happening:

Chase Marriott Rewards Premier Visa Discontinued (existing cardholders grandfathered)
All grandfathered cardholders terminated (with promise of Free Night Certificate and 15 Reward Night Credits)
Free Night Certificate Awarded
15 Reward Night Credits Awarded (see below)

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Marriott Rewards Free Night Certificate Coming Through

ByMatt

Check your Marriott Rewards account. The much anticipated “Rewards Certificate MR VISA CA ANNIV FREE NGT CAT 5” due to the termination of the Chase Marriott credit cards should be coming through today. 
It should look something like this when it shows up on your account:

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American Express Reducing Payment Processing Fees in Canada

ByMatt

American Express Canada (AMEX) has been known to charge high payment processing fees, which discourages many businesses from accepting AMEX cards as a payment option. This may change as the Canadian Federation of Independent Business (CFIB) has agreed on a deal with payment processing firm Chase Merchant Services that will reduce the fee. 

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[DISCONTINUED] Grandfathered Chase Canada Credit Cards Being Shut Down

ByMatt

The news that the discontinued, but grandfathered, Chase Marriott Rewards Premier Visa and Chase Amazon.ca Rewards Visa cards will be terminated has been circulating for a few days now. I have been waiting for my letter in the mail for confirmation, but still have yet to receive it. But some of my family members already received it, so I thought I’d share what the letter looks like sooner rather than later.

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[DISCONTINUED] Chase Marriott – Discontinuation Confirmed

ByMatt

I wrote a post earlier today about the Chase Marriott Rewards Premier Visa possibly discontinued. According to my contacts at Marriott International Canada, effective September 5th, 2017, no new customer applications are being accepted into the credit card program, but existing card members will continue to be serviced. Note that this only applies to applications in Canada and does not impact the US program.

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[DISCONTINUED] Chase Marriott Rewards Premier Visa Discontinued?

ByMatt

I was hoping that this is just a temporary glitch, but all the Chase Marriott Rewards Premier Visa links are broken. 

I called Chase Canada customer service to confirm what was going on and they said that they are “no longer offering the Chase Marriott credit card for the moment”. When I asked what she meant by “for the moment”, she said it may or may not come back, but I would need to ask Marriott Rewards to find out. 

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Best Current First Year Fee Waived Cards for August 2017

ByMatt

Below is a list of the best first year fee waived offers on the market.

We also have two other types of monthly lists going on:

Top Cash Back Credit Card Offers
Top Higher than Normal Sign Up Bonus Offers
Please let us know in the comment section below if you would like to see other types of monthly lists as well!

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My Updated Credit Card Portfolio

ByMatt

This question of which credit card do I have in my wallet seems to be asked fairly often. So I thought I would share my updated portfolio from last time. I generally try to shake up my batch of credit cards every 3 months, which coincides with the previous post.

Last time, I mentioned that I wanted to keep my portfolio, but it was due for an expansion.