One from American Express®
One from American Express creates a high-yield savings account for its cardholders to help even the most impulsive spender save money. One from American Express is a great card for shoppers with that all-too-common American tendency: impulse buying. One from American Express creates a high-yield savings account for every cardholder with American Express Bank, FSB. Using its Savings Accelerator, One then deposits 1% of virtually every purchase into that account where it earns an annual percentage yield of 4.25% (as of July 6, 2006. The rate is variable). The account carries no maintenance fees, requires no minimum balance, and has no penalties for withdrawals.
With One from American Express, cardholders enjoy having no pre-set spending limit on the card, and no interest on new purchases, even if they carry a balance on the card. However, all purchases are approved based on the cardholder's credit rating.
As with many American Express cards, One from American Express carries a long list of benefits. Cardholders can take advantage of American Express' Buyer Protection Program, Purchase Protection Program, and Return Protection Program. It also offers emergency card replacement, car rental insurance, and travel bonuses.
To get you started with One from American Express, your first purchase with the card earns you a $50 deposit into the One savings account. American Express also waives the $35 annual fee for the first year that you own the card. There is no introductory period, but the APR for the card is competitive with similar cards.
The unique benefit of One from American Express makes the card a great choice for many people who don't have much use for frequent flyer miles or discounts on hotels. This card is an excellent option for the hard-working American who wants to put a little money away for the future. Review Date: 9/4/2006
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