Several days ago I posted on an extraordinary customer service experience that one AMEX gift card customer had. Well, today I am seriously feeling the love for AMEX gift cards: They have done away with the monthly fee, effective immediately, for new cards and all existing cards. AMEX fees were already low by open-loop gift cards standards, at $2/month starting 12 months from when the gift card was issued.

What makes this even more significant of a move is that this goes above and beyond what AMEX would have had to comply with as part of the new gift cards laws in the Credit Card Reform Act of 2009, which says gift cards may not expire (AMEX cards already didn’t expire) and vendors may not charge fees for the first 12 months.

AMEX gift cards still carry an up-front purchase fee and may be hard to spend the last few bucks on, but this move makes them the clear leader in value if you are going to buy an open-loop gift cards.