Growth5 Blog

Thursday, February 26, 2009

American Express Will Pay You $300 to GO AWAY!

Proactive risk management. American Express is offering some cardholders a $300 incentive to pay off their balance by April 30th and then cancel their accounts.

"The move comes as credit rating firms have warned that rising credit-card delinquencies could push the industry's charge-off rate into the double-digits by the end of the year from December's record level of 7.7% amid higher unemployment and a bleak economic outlook."

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