AmEx Unveils Mortgage Payments by Credit Card

Via Broker Universe

American Express has announced a new program enabling members to make monthly home mortgage payments on the American Express card. American Home Mortgage Corp. will be the first lender to offer the Express Rewards Mortgage program for eligible prime loans, AmEx said. Cardmembers with qualifying loans with American Home will pay a one-time fee of $395 to the lender for enrollment in the program at closing. American Express said its research had indicated that members "overwhelmingly cited" monthly mortgage payments as "an ideal opportunity" to use the American Express card. The company can be found online at http://www.americanexpress.com.

I quite like the idea of collecting bonus points and cash back awards off of my mortgage payment.  It is after all the largest bill most of us get every month.  Sadly for those who get mortgages to reduce credit card debt, this would be like giving enabling a heroin addict...

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