No. of Recommendations: 5
As many here have heard me whine about over the past few months, AMEX cut our credit lines dramatically (by over $10k each), and that we have exclusively used these cards for low rate balance transfer deals and paid a bit over the minimun payment all this time.

Well, AMEX wants us to close out our account. And they are being quite nice about it this time.

Here is how the promotion reads (in part):

At American Express, we understand how challenging managing finances can be. That's why we'd like to offer you the opportunity to simplify your finances. Take advantage of this offer to reduce the number of cards in your wallet while earning a $300 value prepaid card to help with day to day expenses.

It's as easy as 1-2-3

1) Simply enroll in this promotion by logging on to and using your RSVP code blah-blah-blah before Feb 28 2009. Enrolling in this program will automatically cancel your account.

2) Pay off your entire balance between March 1, 2009 and April 30, 2009, and we will send you a $300 value prepaid card to thank you.

3) Your prepaid card will arrive within 4 weeks of the end of the promotion. The prepaid card can be used to help you with your day to day expenses including purchases at your pharmacy, grocery store, or virtually anywhere American Express Cards are accepted.

Take advantage of this offer today and start rewarding yourself for taking control of your finances.

Footnotes (abreviated):
1. All points will be forfeited
2. The $300 is taxable income
3. If entire balance is not paid before 4.30.09, you will not receive the $300 (duh!), and you must continue to make at least minimum payments until your balance is paid off.
4. Terms and conditions, usage restrictions and guidelines apply to prepaid card. See AMEX for details.


Wow, they certainly want me gone! At least they are being decent about it. I wonder if my account will be closed by them in the next few months if I do not accept these terms.

One week ago, I literally had the cash on hand to accomplish this. I just allocated that money elsewhere. Grrrrr. It would now take very significant effort and sacrifice to accomplish this.

But I am thinking about it. After all, who wants to be where they are clearly not wanted.

Heads up, AMEX carrying Fools!
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