Foreign currency fee to be eliminated on some cards by American express

Friday, January 21st, 2011
Updated: January 21st, 2011
The content is accurate at the time of publication and is subject to change.

There was an announcement from American Express yesterday that the foreign currency transaction fees on all international purchases on the Centurion cards and the platinum cards for US customers and small business cardholders will be eliminated. According to the vice chairman of the credit card issuer, the company aims to strengthen relationships with the card holders who appreciate the quality service and high value products offered by the card issuer. The benefits from American Express to card holders are being expanded to ensure customers find it easy to use the card for travel, entertainment and shopping both in their own country and internationally as well.

This move is a great add-on to the current benefits offered to customers. This would also help bring new credit card customers on board. A few new benefits for customers were added for Centurion and Platinum cards recently by American Express. Card members can now enjoy an in-flight meal or check in a bag with American Express covering about 200 dollars every year on incidental fees for flights on some selected airlines. Card holders of Centurion and Platinum cards can also redeem bonus points and earn 20% of those points back each time. Using the Pay with Points feature for a fraction or the complete travel expenses, including cruises, hotels and airlines, card members will get 20% of the points back to their account. The Pay with Point feature is quite handy as the card holders can purchase any ticket from any category, any time on any airline without blackout dates.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

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