You Credit Card now have the ability to earn you $300 if you agree to pay your dues and close the card. This unique offer is currently being given by American Express. You might receive a call from the bank or you can call yourself to enquire about the offer. In another offer, Citigroup is offering credit to reduce the debt to some borrowers who agree to pay the dues with that money.

In these uncertain times this is an effort by the banks to clean up their books and make them good look. Gone are the days when credit card was given with almost everything under the sun but right now not only people are being forced to close the card but also their credit limits are being reduced drastically. The analysts at the banks are working very hard to build models in order to determine riskier assets much quickly and way ahead of time. Each day you might hear new promotion which is more targeted to reduce risk and clean the books. The banks are essentially making an all round effort to put themselves first on the list to receive payment.

The economy is in bad shape and no job seems to be permanent today. The subprime crisis has given very bad moments to many banks and they don’t need another of those nightmares now. Internally banks also know that not everything is fine with their books and hence before being involved in another muddle they working are hard with limited resources. It’s favorable for consumers too who hold couple of cards within their family and can manage things efficiently on their end.

Things would be fine soon and the good days would return. These banks would again chase you for credit cards and you would again have the choice. Important factor here is if you can make best use of the offer by considering the various risk and rewards on your side. Also you need to be sure that you credit score should not be affected. Hence it is advisable to talk with bank and look for solution that gives you maximum advantage on both fronts.

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