Apparently the "modified incentive structure" popular with recent government programs is spreading to the private sector. AMEX is offering gift cards to problem customers if they'll stop being customers.
I'm not quite sure why AMEX doesn't just cancel or refuse to renew the accounts rather than pay a reward.
At this rate, the next time a cop pulls me over I expect to get a Lowes gift card.
It used to be that credit-card companies lured customers with cash rewards. Now American Express Co. is paying to get rid of them. The card issuer is offering selected customers a $300 AmEx prepaid gift card if they pay off their balances and close their accounts.
I'm not quite sure why AMEX doesn't just cancel or refuse to renew the accounts rather than pay a reward.
At this rate, the next time a cop pulls me over I expect to get a Lowes gift card.