Even Billionaires Use Rewards Credit Cards
Even the rich and famous like to tally up their credit card rewards.
Billionaire Liu Yiqian used his frequent flier miles to fly to Hong Kong to purchase an ancient Tibetan silk tapestry for $45 million, according to Bloomberg.
Liu acquired the miles in July when he used his American Express Centurion card to pay $36 million for an ancient Chinese ceramic.
This recent purchase will keep him flying for free for quite some time. Bloomberg reported the issuer of the card, China Merchants Bank, calculated that Liu should qualify for approximately 18,750,000 more frequent flier miles.
Liu bought the embroidered tapestry called a thangka at an international auction house in November. It will be displayed at Liu’s Long Museum in Shanghai.