enthalpy

enthalpy

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The truth shall set you free, but first it's going to piss you off

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Thursday, February 26, 2009

Posted 2/26/2009 08:25:00 PM by Douglas

The other shoe is about to drop in the credit crisis: Consumer Credit. Example: AmEx is going to pay you to take your debt somewhere else while you still can.

American Express may want you to leave home without it.

Battered by mounting credit card losses, AmEx is offering $300 to certain cardholders who pay off their balances and close their accounts.

"We sent the offer out to a select number of card members," said Molly Faust, a company spokeswoman. "We are looking at different ways that we can manage credit risk based on the customers' overall credit profile."

The company did not say how many cardholders would receive the offer.

Cardholders have until the end of this month to accept the offer and must close their accounts in March or April. Each cardholder will receive a $300 prepaid American Express card.

Now that's brilliant. Find the middle rung people, and get rid of them with a quick shot of $300 in a gift card that they're probably going to lose, anyway.

Labels: Credit Card Collapse

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