How Many Frequent Flyer Miles Can You Get With A $36M Charge?

  • Playlist
  • Download
  • Embed
    Embed <iframe src="http://www.npr.org/player/embed/333537728/333537732" width="100%" height="290" frameborder="0" scrolling="no">
  • Transcript

Last spring a man bought an ancient Chinese ceramic cup, sold by Sotheby's Hong Kong. The price: $36 million. But because of currency rules, he paid with his American Express card.

STEVE INSKEEP, HOST:

Good morning. I'm Steve Inskeep. Last spring, a man bought an ancient Chinese ceramic cup. It was sold by Sotheby's Hong Kong. The price was $36 million. The Chinese collector enjoyed a benefit for paying so much - currency rules prevented him from taking enough cash to Hong Kong. So he paid the $36 million with his American Express card. He received so many AmEx bonus points that he would be entitled to 28 million frequent flyer miles. It's MORNING EDITION.

Copyright © 2014 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and Terms of Use. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.