Recall that you can transfer American Express Membership Rewards points to participating frequent travel programs
Transfers can be made with no transfer fee to the hotel programs. However, when you transfer points into a U.S. airline frequent flyer program, your card account will be charged an excise tax offset fee of $0.0006 per point (with a maximum fee of $99). American Express states that they charge this fee to offset the federal excise tax that they must pay when you transfer points and Amex offers you the option to use points to pay this fee.
Well there is more good news from Amex due to Covid. They have stated the following…..
As a result of COVID-19 and the subsequent CARES Act passed in the United States on Mar. 28, 2020, we are temporarily waiving all excise tax offset fees on point transfers to airlines through Dec. 31, 2020.”
Good news for those of you who plan on transferring your Amex points for flights. That’s likely an extra $99 in your pocket.
AND I just learned even more good news. There is an excise tax fee credit that is retroactive. I noticed on my Amex bill an excise tax credit of 26.40, yet I haven’t made any transfers to airlines in the last few days. I decided to chat with Amex about the credit, and learned that Amex is issuing these credits retroactively as well.
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An Annoying Mistake: Wasting 8,000 Amex Points on a Delta Ticket Change
How I Scored $200 Off an Expensive Birthday Dinner at Laser Wolf Using Amex Gold Resy Credits
