WanderALot
Full time employment: Posting here.
- Joined
- Sep 10, 2004
- Messages
- 607
I'm sure most have heard about AMEX offer to certain card holders who hold a balance: They'll give you $300 if you pay off the balance and close the account.
American Express' $300 Deal Shows Industry Trend : NPR
This seems to be a smart, proactive move considering $300 is a relatively small amount to remove card holders who they consider a high risk of default.
What I find interesting however is they have a similar offer to AMEX Business card holders. It looks like they have offered to refund large portions of the interest that has already been paid by the card holder provided they pay off the card. Some people on the net have received offers of refunds in the thousands.
This is a little troubling. It seems to indicate that AMEX thinks things will REALLY hit the fan very soon so they want to clear the books. The $300 offer seems to be a good idea for them, but when they start giving back interest payments in the thousands.
American Express' $300 Deal Shows Industry Trend : NPR
This seems to be a smart, proactive move considering $300 is a relatively small amount to remove card holders who they consider a high risk of default.
What I find interesting however is they have a similar offer to AMEX Business card holders. It looks like they have offered to refund large portions of the interest that has already been paid by the card holder provided they pay off the card. Some people on the net have received offers of refunds in the thousands.
This is a little troubling. It seems to indicate that AMEX thinks things will REALLY hit the fan very soon so they want to clear the books. The $300 offer seems to be a good idea for them, but when they start giving back interest payments in the thousands.