Did you see this story in the Wall Street Journal? American Express is paying select customers to close their accounts. This is how bleak the economic environment has gotten. $300 to not be a customer. Crazy. Maybe Toll Brothers can pay us $6,000 to not buy a home.
Keep in mind that accepting this offer may hurt your credit score, which will decrease your likelihood of obtaining another card in the future. As such, be certain that you have alternative credit cards on hand, before agreeing to the deal.
Also, you will lose any membership rewards points accumulated. So be sure to claim your rewards before agreeing to the offer.
It will be interesting to see if other card issuers follow suit with similar offers.