hefty balance reductions
Yves Smith runs the popular financial blog nakedcapitalism.com. In one of his postings, he noted: “Amex [American Express] is offering very hefty balance reductions (20%) to business accounts who pay off balances early on credit line products that Amex has discontinued.” Smith worried that Amex’s offer would expose the credit card company to adverse selection. Briefly explain whether you agree.
hefty balance reductions