American Express Mortgage Credit Card Rewards Program

According to Mortgage News Daily, in May American Express announced a new credit card which allows home owners to charge their mortgages on their credit card. Enrollment in the program is not cheap, with a one time fee of $395, but if you charged a $2,500 mortgage to your card every month the card would pay for itself in about a year.

Some of the banks who have signed on to the program have already went bankrupt. It is yet to be seen if consumers will benefit from this new credit card, or it is just another way to help them get Maxed Out.