Buying a Condo? Put it on your AMEX

Saw this one while browsing FT. Apparently American Express is rolling out a pilot program that will allow select customers to charge their condo down payments, earning rewards without adding a surcharge.

American Express Co. will begin allowing select customers to use its credit cards to charge their condominium down payments. Currently, the service will be limited to buyers of luxury condos in Manhattan, as American Express rolls out the program with New York real-estate firm Moinian Group for one its projects under construction.

Both companies say they plan to expand the service. The change will allow the customers a chance to earn reward points and frequent-flyer miles, getting one point for every dollar charged.

Terms of the deal were not disclosed, but Moinian will pay a fee to American Express for every transaction. Condo buyers will not be charged any additional fees.