One from American Express
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- Get $50 after Your First Purchase (Offer Valid August 1 - October 31, 2006)
- No Pre-set Spending Limit
- 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
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One from American Express Review
One from American Express is designed for those with good or excellent credit who plan to take advantage of the unique Savings Accelerator Plan.
Through the Savings Accelerator Plan, cardholders earn a cash rebate of 1% on all eligible purchases. The rebates are deposited into an FDIC-insured, high-yield savings account in the cardholder's name, which currently has an annual percentage yield of 4.25% (variable rate effective July 6, 2006). Plus, $50 will be deposited into the account after the cardholder makes their first purchase.
Aside from the cash rebates, this card provides benefits and services commonly found with American Express® credit cards, such as auto rental insurance, a purchase protection plan, and up to $100,000 in travel accident insurance.
One from American Express has an annual fee of $35 that is waived the first year, and the APR for purchases is reasonable for a reward card.
Therefore, those who plan to take advantage of the Savings Accelerator Plan rebate program and the various standard services will benefit most from what the One from American Express has to offer.
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