Amex backtracks on 0% card offer

Bosses at the credit card firm claim that it was a typo and that the “three per cent of its customer base” offered the deal will only get six months, website This is Money reports.

Cardholders claimed that the small print on the promotional material confirmed that they had until June to obtain the interest-free lifetime offer.

Credit card companies have long been offering introductory offers to tempt customers over to them, though Barclaycard recently announced it was to limit the amount of credit it offered due to bad debt.

Amex customer Richard Morris told the website: “I understand banks don’t usually offer free loans, but the offer was in black and white. Does Amex have any rights to alter the offer when I have complied with every one of its details?”

Other Amex customers also told the reporters that they were annoyed at the withdrawal of the offer.

However, with lenders becoming increasingly wary about bad debt, it seems as if “too good to be true” credit card offers are just that.