What if you didn’t have to pay your credit card company? What if they paid you instead? A new phenomenon has hit the credit card industry. Who is at the forefront of this phenomenon? None other than American Express.

American consumers got pretty used to paying credit card companies. They would pay the credit card company by way of interest payments, extra fees, late payments, etc. But, American Express has started a new program that has begun paying its customers.

American Express is offering select cardholders the opportunity to earn $300 from them. What’s the catch? They have to pay off the remaining balance on their American Express credit card in full and close the account.

AMEX has not released the number of cardholders that have been offered this incentive. Several weeks ago, these cardholders received letters in the mail explaining the voluntary program. Along with each letter was a RSVP “code.” When this code is submitted online, the AMEX card is automatically canceled.

So, how long do these select American Express cardholders have to take advantage of this offer? They have until the end of April. By that time, the entire balance of their credit card needs to be paid off. Once it is paid off, they will receive a $300 prepaid American Express gift card in the mail.

Here’s another catch to consider. AMEX members who do not pay off their credit card balance by the end of April will not receive the $300 gift card and their credit card accounts will still be automatically closed.

Molly Faust, an American Express spokesperson said, “The intention is to help cardholders lower their debt and encourage responsible management of their credit.” Consumers really shouldn’t expect anything less from the credit card company that consistently ranks highest in terms of customer satisfaction. While other credit card companies seem to be looking out for themselves, American Express is still focused on the customer.

Members who decide to take advantage of this incredible offer will pay off their balances at their normal, usual interest rate. Similarly, any member who participates in this offer and who has accumulated rewards through their reward program must cash in their points before initiating the cancellation process. Once the cancellation process has been started, all accumulated reward points will be forfeited.

If you have an American Express card, it might be beneficial to look into this offer. The enrollment deadline is February 28, so act now!