AmEx paying card holders to close their accounts
NEW YORK (Reuters) – American Express Co (NYSE:AXP – News), battered by mounting credit card losses, is offering $300 to a limited number of U.S. card holders who pay off their balances and close their accounts, the company said on Monday.
“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 costumers overall credit profile.”
The company did not say how many card holders would receive the offer and did not disclose the total of their card balances.
