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By Arrive Financial Staff on Jan 2, 2008 in American Express Credit Cards, Cash Rewards Credit Cards, Good Credit Credit Cards, No Spending Limit Credit Cards
- I love this card, because it provides great cash back rewards and makes saving automatic. With no pre-set credit limit and all the benefits American Express offers, this card is a great value, even with a $35 fee.
» No Pre-Set Spending Limit
» Get $50 after your first purchase
» 5% APY on High-Yield Savings Account
» Never pay interest on new purchases
» The Savings AcceleratorSM Plan contributes 1% of eligible purchases into an FDIC-insured High Yield Savings Account in your name
» First Year Fee-Free - A $35 savings*
One from American Express is a cash back credit card with an added bonus – the cash rewards you earn are deposited into a high yield, FDIC-insured savings account. This card is perfect for people who like to find ways of saving automatically.
Fees and Interest Rates
One from American Express carries an annual fee of $35.00, but is free for the first year. There are no additional fees. While some cash rewards cards like Blue Cash from American Express carry no annual fee, this fee is reasonable given the fact that One cardmembers can earn unlimited cash rewards.
The annual percentage rate (APR) for this card is the prime rate plus 5.99%, 6.99% or 7.99%, depending on your individual credit.
Rewards
Members earn 1% cash back for all purchases made with the card. There is no limit to the rewards earned. That cash back is deposited into a high yield savings account offered through American Express bank. Savings interest earned depend on prevailing interest rates, but typically range from 3% to 5%.
Members will also get standard American Express benefits including the Buyers Assurance program (extended warranty), online fraud protection plan, return protection plan and a purchase protection plan.
Acceptance Rate
One from American Express is available to borrowers at most credit levels, except for those with no credit or severely damaged credit.
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Customer Reviews
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Important: We take care to ensure all card terms described on this website are accurate and up-to-date. Creditors change terms, including APRs, frequently, however. While we usually update our reviews within 1-5 days of notification, never apply for or accept any credit offer before carefully reviewing the offer terms and conditions found directly on the creditor's website.
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