Transfer Amex Points to Domestic Airlines Without Fees
American Express has announced some good news for its cardholders. If you have American Express cards that earn Membership Rewards points, you will no longer pay an excise tax when transferring those points to U.S. airlines miles.
Before you get too excited, this is a temporary change 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 reimbursing these fees retroactively, likely since the beginning of 2020.
Conclusion
Great news for people who are invested in the Membership Rewards program. You can definitely save a good amount of money if you are starting to plan travel once again. Just do not transfer points speculatively right now just because there is no fee.
HT: DansDeals
Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card is the old king of travel rewards cards. Right now
bonus_miles_full
Learn more about this card and its features!
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
I actually have credits posting to my Amex cards from these fees earlier in 2020 🙂
[…] No More Excise Taxes When Transferring To Domestic Airlines: Amex has made some favorable changes when transferring Membership Rewards points to domestic airline partners. You will no longer pay an excise tax when transferring MR points to US airlines. […]