In another sign of the bad times, credit card giant American Express is offering to pay select existing customers $300 if they cancel their credit card account.  Before you cut up your plastic to buy those new boots, in order to get the $300 prepaid AMEX card cardholders must pay off his or her entire balance by April 30, 2009. If the balance is not paid off by April 30, then they will not receive the $300 card, and your card will still get closed.

Would you take them up on this offer??

Tagged as: American Express, AMEX, Closed Account, Frivolous Spending, Good Credit, Pre Paid Charge Cards, Promotional Offers