American Express One Credit Card
Ranked #49,306 in Business & Work, #590,632 overall
Review of the American Express One Card
The One credit card from American Express is a card that allows you to save while you spend through their savings accelerator plan. Be forewarned this card does come with an annual fee but you should save more money than the annual fee if you use it often enough.
APRs and Standard Features
0% APR for First Six months*
Annual Percentage Rate: 13.24-21.24%*
Annual Fee: First year is free. $35.00 every year afterwards.*
*These are current when this review was written on 5/14/2010.
Annual Percentage Rate: 13.24-21.24%*
Annual Fee: First year is free. $35.00 every year afterwards.*
*These are current when this review was written on 5/14/2010.
Savings Accelerator Plan
What makes this card special is the Savings Accelerator Plan. For every purchase you make, 1% of that is deposited into a FDIC insured high yield savings account in your name at 3.50%. You also receive a $50.00 bonus deposited into your savings account when you make your first purchase. The bonus is put into your account within 5 to 8 weeks of your first purchase. If you cancel your card before you receive the bonus you will not get it.
There is no minimum balance required for your account and you may deposit additional money whenever you want.
There is no minimum balance required for your account and you may deposit additional money whenever you want.
Why You Would Want This Card
You would want this card if you are looking for a high yield savings account and can't get approved for a higher percentage. The nice thing about this card is it's flexibility with the Savings Accelerator Plan. There is no minimum balance, and you can deposit additional funds whenever you want.
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