Amex offering account-closing incentive

February 23, 2009 2:48:12 PM PST
American Express is looking to get rid of some cardholders.The company is offering a $300 pre-paid card to customers who agree to pay off and close their accounts. American Express would not say how many cardholders would receive the offer.

The company is being battered by mounting credit card losses. American Express reported last week that delinquencies from January rose more than expected.

Cardholders who receive the offer have until the end of the month to accept it, and they must close their accounts in March or April


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