New Amex MR Transfer Charge In Hong Kong
The American Express Membership Rewards program is one of the most popular point currencies out there. You can easily earn points through many Amex cards and you have several redemption options.
The best option is obviously transfers to travel partners. They have several airlines partners, foreign and domestic. When you transfer to U.S. airline frequent flyer programs, you have to pay an “Excise Tax Offset Fee” which is $0.0006 per point (maximum fee of $99).
Now the Hong Kong program is introducing a new fee, which would make it a terrible value to transfer small amounts of points. Beginning in April 1, 2020, transfer to any airlines will cost HK$300. That is about US$38.
We do not have to worry about this change here in the US for now. But you can’t help but think, what if it comes stateside as well. Paying $38 for every transfer would be a huge increase for small transfers, but it would end up being cheaper if you are transferring 64K or more points.
HT: Reader René