An interesting concept...hopefully people who use this are just trying to boost their frequent flyer miles... American Express is now going to allow its customers (who must pay a one-time fee of $395) use their credit cards to make their monthly mortgage payments automatically, and earn points that can be redeemed for services or cash. The program applies only to "participating" prime loans, both purchase and refinance, and cardholders must be pre-authorized by the lender to make monthly payments using their American Express card.
Link:
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20070523005203&newsLang=en
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