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Condo Developer Accepting American Express for Down-Payments

by Peter Andrew

Condo

Developer Accepting American Express for Down-Payments

In perhaps the mother of all rewards points opportunities, American

Express is piloting a program that allows condo buyers to charge

down-payments on their American Express cards. American Express'

first partner in this venture is New York developer The Moinian

Group, whose under-construction development The Atelier, on

Manhattan's Far West Side, is already accepting American Express

for down-payments.

American

Express introduced credit card acceptance for rental properties

in 2003, and says that the success of that program was the catalyst

for extending card acceptance to condo down payments.

American

Express has not announced plans to roll out the program on a

wider scale, although calling this a pilot would suggest that

to be a potential next step. Card acceptance for down payments

on other types of real estate has not been discussed, either.

Published 09/13/06 (Modified 05/07/12)


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