Condo Developer Accepting American Express for Down-Payments
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.
