AmEx Offering $300 to Close Your Credit Card Account

[jeffrey]

American Express Co, battered by mounting credit card losses, is offering $300 to a limited number of U.S. card holders who pay off their balances and close their accounts, the company said on Monday.

"We sent the offer out to a select number of card members," said Molly Faust, a company spokeswoman. "We are looking at different ways that we can manage credit risk based on the costumers overall credit profile."

The company did not say how many card holders would receive the offer and did not disclose the total of their card balances...

[kork13]

wow, what a deal....

[disneysteve]

I heard this on the news this morning but they didn't give any details. I wonder what the criteria are for getting this offer.

[sweeps]

I wonder how many people will say, "Don't close your credit cards, it'll hurt your credit score!"

[Joan.of.the.Arch]

I bet you were intending to provide a link.

[tripods68]

I'd been AMEX cardholder holder since 1991. I don't think I will close this card even if they pay me

[cptacek]

I will! I don't have a balance on this card. Give me $300 for free!

[Cassandra]

An article on this that I read said the customers had to pay off their balance by April 30th and that the offer was being extended to those who had a high balance with little activity.

I'll see if I can find the link for it.

[tripods68]

This is a very limited offer to certain individuals...not all will cardholders will receive this letter. Like i said, even if i get this letter I'll just toss it out.