No-Fee Transfers from Amex Points to Domestic Airlines
American Express has good news for its Membership Rewards cardholders. If you have American Express cards that earn Membership Rewards points, you will not pay an excise tax when transferring those points to any U.S. airlines miles through the end of the year.
This is a temporary offer, due to the CARES Act that was passed earlier this year as the COVID-19 pandemic halted the economy and travel. American Express is waiving the excise tax fee for domestic airlines through December 31, 2020.
American Express, unlike other banks, charges an “Excise Tax Offset Fee” of 60¢ for every 1,000 points that you transfer to domestic airlines. Fees are limited to $99 per transfer. It’s not an outrageous fee, but it adds up for people who travel often, using Membership Rewards points.
Not only will fees be waived through the end of the year, but American Express is also crediting these fees retroactively, probably since the beginning of 2020.
HT: DansDeals
