AMEX Offering Some Customers $300 To Close Accounts
Source: http://feeds.feedburner.com/~r/StocksOptionsBlog/~3/546455826/Posted on Tuesday, February 24th, 2009 | In Stocks to Watch
Contributed by: Daniel Shepard (http://www.navivest.com/blog) -
Tuesday February 24, 2009
Navivest
With the cachet that surrounds or used to surround the AMEX card, an invitation offer from the company said you were among the upper echelons, but we are not so sure about American Express’ latest offer.
In an attempt to manage its risks and stem losses from its credit cards division, American Express is offering some of its current cardholders $300 if they pay off their balance and close their accounts. The $300 will of course be paid in prepaid American Express gift cards.
Not immune to the current economic crisis, the company has seen delinquencies rise amongst its customer base and has started reducing or limiting credit lines for some of its cardholders.
Tags: american express amex credit cards
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 About Daniel Shepard (http://www.navivest.com/blog)
Daniel Shepard is an Equity Analyst with Navivest, a stocks and options trading advisory services company that provides trading ideas on a subscription basis. |
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