Is a American Express credit card good for small business owners?
Rohit Mahajan
Asked 26 Mar 2026
Reviews of American Express credit cards mostly highlight rewards but rarely mention downsides. Is it really worth it for IT professionals?
2 Answers
I closed my HDFC card last year. The process took exactly 7 days. They sent a confirmation email and a closure letter by speed post. Tip: pay off the full outstanding and request closure only AFTER the payment reflects. Calling repeatedly with a zero balance is the fastest path.
The 'minimum due' trap is real. Banks love it because they charge ~36-42% interest on the carried-forward amount. If you can't pay the full bill this month, pay at least 50% — anything below that and the interest eats the rewards of the next 6 months.
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