Feb 26, 2009

American Express pays people $300 to drop their accounts

Now here's a new angle. American Express is offering selected customers a gift of $300 if they pay off their balance and drop their account. This is the exact reverse of a sign-up bonus or gift that credit card issuers have been offering for years.

More here.

(Thanks Wan Ling for sending this to me! And Alan Hale too!)


Wan Ling said...

As my colleague & managing partner at Insight Consultancy has commented, Amex's desperate attempt to regain liquidity, they have completely missed the point. "Good customers are being closed down because they simply dont have the right data and systems to understand customer level profitability." Really a case of "throwing the baby out with the bathwater".

Plastic Card said...


It ids very good news for the customers of the American Express.Thanks for sharing such a nice information about to this platform.