Originally Posted by
TheGreatMongo
Got the email today. I wonder why they have to wait 30days to cancel. is this a regulatory requirement for card issuer?
Originally Posted by
silver6054
Can't be required because until very recently, we were cancelled without any notice
California's
Song-Beverly Credit Card Act of 1971 requires 30 days written notice unless certain extenuating circumstances.
The closure of Californian accounts was just delayed. My guess is that Amex had to meet certain requirements in closing their accounts, so they waited until they figured out all their legal obligations before cutting them off.