Summary
AMERICAN Express is set to crack down on balance transfers in the first sign that credit card firms are losing patience with "rate tarts" who switch debt to avoid paying interest.
From today the company will no longer offer the debt-shifting facility to new customers, concentrating on people wanting to use their cards to spend money.See the full content of this document
Extract
American Express Abandons Efforts to Woo 'Rate Tarts'
Robert Kenley, the head of credit cards at consumer website moneys...
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