[Ender's Mom]

Just cancel your American Express card!

http://www.creditmattersblog.com/2009/02/american-express-wants-to-help-you.html

 

[Golfgirlrobin]

Interesting way for AE to try and limit it's exposure in the current market. I wonder what kinds of accounts are going to be targeted; people who barely use their card and are more trouble than they are worth, or people with larger balances who just make minimum payments. Usually the latter are the valued customers in the credit card world, but maybe in this economy they seem a bit too much of a risk.

 

[dweck]

What's to prevent someone from paying off the bal, snagging the $300, and turning right around and applying for/opening a new AmEx card?

 

[Ender's Mom]

What's to prevent someone from paying off the bal, snagging the $300, and turning right around and applying for/opening a new AmEx card?

Probably nothing.. and I'm sure they keep a good record of who they paid the $300 to and can just deny the new app if they want.

 

[kelli]

i need mine.. it's the only CC costco takes

 

[BauersMom]

They cancelled ours in November because we hadn't used it in 6 months. We only used it for hockey travel, and the kids hadn't played in any tournaments yet . . . oh well. DH was a little annoyed when he got to the hotel and it was declined . . . good thing he had another card. I wish we would have gotten our $300 bucks though!