American Express is giving some of its customers $300 to pay off their accounts and go away.
Not-so-select cardholders who pay off their balances and close their accounts by April 30 will get a pre-paid card loaded with $300.
The company is apparently in a big hurry to get rid of some of its riskier customers as consumer defaults skyrocket amid mass layoffs and an ongoing recession.
“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 excepted,” the company wrote on its website.
Amex subsequently fixed this sentence to read “accepted,” not “excepted.” But it was just as well.