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Amex Will Let Delta Branded Cardholders Borrow Travel Rewards Miles
personal finance

Amex Will Let Delta Branded Cardholders Borrow Travel Rewards Miles

Kristin Wong, Gawker Media

Photo by airbus777

Let's say you want to plan an epic trip to Spain and you have loads of credit card points but you're juuuuuuust shy of a free flight. American Express recently launched a solution: what they call "Fly Now, Earn Later."

The program is only available for Amex cards that are co-branded with Delta SkyMiles. In a nutshell, it's an advance on your rewards miles. Here's how it works, according to the site:

Log in to your account to see how many miles you are eligible to receive in advance and select the amount that is right for you
Earn miles that apply to your Fly Now, Earn Later balance by spending on your selected Card over the next six months
At the end of the six-month period, any remaining miles in your Fly Now, Earn Later balance will be charged to your Card account at a rate of $0.025 per mile

It's a better option than outrightly buying points because it allows you to recoup those points with future purchases. Of course, if you haven't recouped enough, you could end up paying for it later. The rate is 2.5 cents per mile, almost double what a Delta Skymile is worth, according to The Points Guy (1.2 cents).

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It's a targeted offer, so if you have an Amex card co-branded with Delta, log in to your account, head to the Benefits section, and see if the offer is available.

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