AmEx to Clients: Here's $300, Now Get Lost

Credit card firm looks to limit exposure
By Nick McMaster,  Newser Staff
Posted Feb 23, 2009 5:12 PM CST
In this Jan. 22, 2007 file photo, an American Express card welcome sign is seen above all others at McGerks Pub & Grill in Baltimore.   (AP Photo/Chris Gardner, file)
camera-icon View 3 more images

(Newser) – American Express is offering some of its customers $300 to pay their balance and close their accounts, Reuters reports. The firm has been hit with staggering losses, exacerbated by their expansion in recent years to less well-heeled customers. American Express declined to say how many customers had received the buyout offer or what their card balances were.