Good way to foist your toxic debt on your competitors!
Hell I already closed my account had 18,000 limit still owe 5000 but it is closed screw them.
This may actually be a good move to help AXP stay around a lot longer, dump bad debtors and get back to the high value model.
I just checked my account. They are offering triple points for shopping on Wal-Mart’s web site.
Making this a Faustian bargain!
With AMEX being a heavy funder of Planned Butcherhood, I'll be gleeful to watch them die.
All the credit card companies are in deep trouble. They are now in direct competition with the US government for diminishing investment dollars. Investors are buying Treasury bills instead of the bonds underwriting credit card holder debt. Without those bonds, there is no way the credit card companies can issue credit.
Two very strong words of advice: settle your credit card debt ASAP, before it is sold to a debt collection agency that charges enormous interest; and get a reusable debit card.
When the credit card companies collapse, millions of Americans are going to be unable to meet their monthly debt. Those that have bank personal checking will overdraft, so that banks will either cancel checking, or retailers will refuse to accept personal checks.
This leaves debit cards and cash. If at all possible, store a few thousand dollars in bills and coins in a safe place at home. If there is a bank holiday(s), you will likely be unable to access your funds electronically.
American Express doesn’t need to pay its customers anything to close their accounts. Just close them. Refuse to grant more credit. They have no obligation to pay for a customer to go somewhere else. This approach is beyond me.
This is a desperate move by Amex. They realize that widespread credit card default is the next phase of America’s economic crisis. In my view, the collapse of some of these bloodsucking credit card corporations will be one of the few positive outcomes of our current predicament.
Why are they paying money? Don’t they have it in their contract that they can dump you at any time for any reason?
I’ve been dumped for not using a card enough. No warning. Just, “Your account has been canceled. Bye.”
Good riddance AXP, no loss!!
I wonder if it’s too late to run up a balance pay it off and get my 300 smackers?
How about we ALL close our AMEX accounts and shut these internationalists down for good!
Before anyone starts whining about credit scores, etc. ask yourself... what did the Patriots of the American Revolution give up???? Life, Liberty and the Pursuit of Happiness or their FICO scores????
“Bye bye, AXP!”
I sure hope not.