Over the weekend, Chase Canada dropped a pretty major bomb on their Amazon.ca cardholders. And although, we kind of sensed it was coming, it’s still a pretty sad blow.
Chase credit cards have had a pretty positive, enthusiastic following with Canadians, thanks to their great earning potential and lack of fees…
But the real reason they have been thought of as the “Holy Grail” of Canadian credit cards? It’s because, unlike 99% of other Canadian cards, they charge a 0% foreign currency exchange fee.
The Break Up
When Chase Canada stopped taking applications back in April, we had a feeling Chase was falling out of love with Canada. But over the weekend they announced that they would be closing Amazon Credit Card accounts all together in March 2018 ‒ essentially leaving us feeling like they just had the “it’s not you, it’s me” non-existent talk with us.
(Not to mention the fact that the Chase Marriott also stopped taking new applicants back in September.
Update: One of our readers, David, confirmed that he got his letter from Chase informing him that the Chase Marriott will be closing on March 15th as well.)
Word From The Top
Though there has been rumors and wonderings about when Chase would close down the Amazon.ca credit card…
The final word has come and the following screenshot, which was taken from the Chase Canada Amazon.ca website, shows the announcement and also gives cardholders some instructions to let them know how the next few months will play out:
With the Chase Amazon.ca card’s future finalized, it does make us wonder when the same announcement will come down the pipeline regarding the Chase Marriott. And it also leaves many people wondering where they should look for a replacement card.
Two potential alternatives?
Home Trust has the above no fee cash back card that is the only remaining Canadian credit card with 0% currency conversion fees (if you don’t count their
Rogers Platinum doesn’t waive the 2.5% foreign transaction fee, but instead gives you 4% in rewards when making purchases in foreign currency. That’s almost as good except when it comes to making a return because you lose your bonus rewards and get charged the 2.5% fee on both sides of the transaction.