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American Express Gift Cards Lose The Dormancy Fee

Tuesday, October 20th, 2009

American Express Gift Card Prepaid Credit CardAmerican Express is finally dropping their annoying dormancy fees just in time for the holidays. The company previously began charging a $2 per month deduction after an American Express gift card sat dormant for 12 months. Now thanks to consumer complaints and a third party company, the Simon Property Group, no fee American Express gift cards will be rolled out at 230 malls across America. The products are being promoted as the “100% gift” which will most likely fly way over the average consumers head. Most people who buy a gift card expect to receive 100% of the balance on the card regardless of how long they wait to use.