Even Billionaires Use Rewards Credit Cards

Even Billionaires Use Rewards Credit Cards

March 16, 2015         Written By Bill Hardekopf

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.

The information contained within this article was accurate as of March 16, 2015. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

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About Bill Hardekopf

Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.