AMEX Offers $300 Gift Card to CLOSE Your Account
Monday, February 23, 2009 16:55
In an effort to curb the growing loan deficiencies and defaults, American Express is offering its cardholders a $300 gift card to close their account and pay off the balance by May 1st.
The scheme comes as ratings agencies have warned that rising credit-card delinquencies could push the charge-off rate into the double digits by the end of the year from December’s record level of 7.7% amid rising unemployment rates. The offer is also a stark contrast to previous incentives, like frequent flyer miles and cash-back deals, offered by card issuers to encourage consumers to open an account.
Cardholders should be aware that if they receive and accept the offer from AMEX, they will loose all rewards points accumulated on their cards.
American Express recently converted to a bank holding company in order to be eligible for federal bailout money. They received $3.4 billion in federal aid which was given to them to help encourage lending.
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Get Paid to card forclosure : Amex paying cardholder to close their accounts SEO SEORANG lah SEORANG dong » Blog Archive » Get Paid to card forclosure : Amex paying cardholder to close their accounts says:
February 23rd, 2009 at 8:24 pm
[...] AMEX Offers $300 Gift Card to CLOSE Your Account [...]
Holocaust Gaza says:
February 24th, 2009 at 12:32 am
Is this consistent behavior? At our Costco shop American Express membership is pushed like crazy.
American Express Offers $300 Gift Card to CLOSE Your Account « A clown’s smirk in the skull of a baboon Weblog says:
February 24th, 2009 at 4:56 pm
[...] American Express Offers $300 Gift Card to CLOSE Your Account In an effort to curb the growing loan deficiencies and defaults, American Express is offering its cardholders a $300 gift card to close their account and pay off the balance by May 1st. See article HERE [...]
Free Government Money | More Free Stuff Online says:
February 25th, 2009 at 12:37 am
[...] AMEX Offers $300 Gift Card to CLOSE Your Account | Charting Stocks [...]
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