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How stupid is American Express?

It didn't even take 5 days, for me to receive my first offer for a new American Express (AMEX) Starwood Preferred Guest credit card, since canceling the identical card Monday, because AMEX refused to give me a good will credit for the annual fee.

And not only is there no annual fee for the first year with this offer, they're even going to give me 10,000 bonus points for signing up.

I only wish someone would explain to me why AMEX would do this? The logic certainly escapes me, but then again I'm only a metallurgical engineer, and not trained in the world of high finance.

I actually almost took the bait, but then I figured, why bother? Besides I'm sure I'll get another offer in the mail again shortly.

Maybe they'll even up the ante the next time. :)
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