Some more bailouts from America, err, I mean American Express.
American Express Co. (AXP) is offering a $300 incentive for customers to cancel their accounts as the card issuer and payments processor grapples with surging loan delinquencies and reduced card-member spending.
American Express is making the offer to a “relatively small” number of credit- card holders. It is intended to give them an incentive to pay down debt with the company and help them manage their finances, said spokesman Molly Faust. American Express has 44.2 million credit cards in force among U.S. consumers and small businesses.
So if you “manage your finances”, keep paying your bills. If you need help managing your finances, here’s some money.