AmEx paying card holders to close their accounts

Reuters ^ | 2009-02-23

[SecAmndmt]

“Bye bye, AXP!”

I sure hope not.

[Junior_G]

The news article would have been much more illuminating had they told us the types of balances owed by these people.

[Toddsterpatriot]

Poor April, she claims to have a PhD in economics. When you see her ignorance in her posts, it’s obvious she’s a lying POS.

[Atlas Sneezed]

The accounts that they want to close are those that get paid off every month.

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The article doesn’t say that. It seems to focus on those with balances.

Amex does just fine by taking their 3% of transactions from those who pay off each month, and has nothing to fear in the future from those customers.

[TChris]

Poor April, she claims to have a PhD in economics. When you see her ignorance in her posts, it’s obvious she’s a lying POS.

Yup.

Nobody with logic deficits of that magnitude could earn a PhD.

[An Old Man]

It is like a $20 discount every single month. Of course, I haven't paid them a nickel in interest, but I do appreciate the free cash.

We should form a club! My wife and I do the same thing every month. As Dave Ramsey would say: "We are Debt Free".

[CaliforniaCon]

RE: “Well then they must hate me (although I have not been asked to leave), I have 3 Amex cards, pay all in full every month, usually a day or two after the charge was made.. have had them for years, no buy out offer here.”

*************

I don’t know if Amex likes me or hates me — I’ve had the card for many years and not used it in awhile, but always paid it up upon due date no matter the amount. In other words, I’m a “deadbeat” in the credit card industry as I NEVER have made partial payments (with high interest) on any card.

I have no balance at all now so why would they offer me $300 to close the account when it’s as good as closed at present? I wouldn’t mind getting the $300 for closing it, but my mailbox remains devoid of their “offer” as of today.