Stick A Fork In It
AMEX 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.
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."
"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."
posted by nolocontendere at 9:38 PM
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