Old Project Avalon Forum (ARCHIVE) - View Single Post - American Express pays some cardholders US$300 to close accounts

peaceandlove · 02-26-2009, 04:50 AM

People who want to pay down their credit cards may benefit from waiting a while, until they pay you, but before some of the interest rates are hiked which is already being reported. Its possible a little bit of negotiating may be in the picture too for pay offs.

Is this an increasing trend?

American Express pays some cardholders US $300 to close accounts

Hugh Son, Bloomberg
Published: Monday, February 23, 2009

American Express is shedding customers as rivals reduce credit lines, raise interest rates and cut back on mail solicitations to brace for future losses.

Article: http://www.financialpost.com/most_po...tml?id=1320877

02-26-2009, 04:50 AM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	American Express pays some cardholders US$300 to close accounts People who want to pay down their credit cards may benefit from waiting a while, until they pay you, but before some of the interest rates are hiked which is already being reported. Its possible a little bit of negotiating may be in the picture too for pay offs. Is this an increasing trend? American Express pays some cardholders US $300 to close accounts Hugh Son, Bloomberg Published: Monday, February 23, 2009 *American Express is shedding customers as rivals reduce credit lines, raise interest rates and cut back on mail solicitations to brace for future losses.* Article: http://www.financialpost.com/most_po...tml?id=1320877 Last edited by peaceandlove; 03-17-2009 at 06:13 PM.