American Express Paying Customers to Close Their Accounts

Written by admin - Leave a Comment

According to recent reports, American Express is offering select customers a $300 pre-paid gift card to voluntarily pay off their balance close their credit card account. There’s no word yet on how many people have received this offer. Those that receive this offer have until the end of February to accept the terms and then must close their account in either March or April.

Given that they’re willing to reduce credit limits based on perceived risk levels, I must say that I’m a bit surprised that they’re doing this. Even if they’re preferentially targeting people who are at risk of default, what are the odds that such customers can pay off their balances in short order?

Given that they recently raised our credit limit, I don’t expect to hear from them. Have any of you received such an offer? Would you take it if they offered it?

Share and Enjoy:
  • del.icio.us
  • Digg
  • Facebook
  • LinkedIn
  • Mixx
  • MySpace
  • NewsVine
  • StumbleUpon
  • Twitter
  • Yahoo! Buzz

Comments (scroll down to add your own):

None so far - share your thoughts and be the first!

Leave a comment

Subscribe without commenting

Get free updates...

Articles via e-mail:

Search this site...

Sponsors...


Credit card resources...

Top credit card offers...

    Discover Open Card

    - 0% balance transfer
    - 0% on purchases
    - No annual fee

    Citi Platinum Select Card

    - 0% intro apr on balance transfer for 21 months
    - 0% intro apr on purchases for 21 months
    - No annual fee

Recent articles...

Recent comments...

  • Mike P: Actually, there is no law. Merchants can set any minimum they choose....
  • Ganesh: Test jen
  • spookiewon: I’m not really sure what’s going on with all of you,...
  • spookiewon: Janine, you make it sound like you’re doing them a favor...
  • Nancy: Hi, I am a member of some financial communities. I came across your...
  • Ethan: If retailers don’t like it, they should band together and...
  • james: NO! Well in my case i wish to god i never cosigned with my mom. Out of...
  • Janine: I just closed my AMEX card today. I’ve been an account holder...

Most talked about...

Disclaimer...

    The terms of third-party offers referenced on this website are subject to change without notice. While we strive to maintain timely and accurate information, offer details may be out of date. Visitors should thus verify the terms of any such offers prior to participating in them. Please see our terms of service for additional details.