"One" Credit Card Offers Cash Back with a Twist
"One"
Credit Card Offers Cash Back with a Twist
American
Editor's Note: Thank you for your interest, this offer expired and is no longer available.
Express has launched a new credit card aimed at getting a leg
up on other cash
back reward cards.
from American Expresscontributes 1% of cardholder purchases
into a high-yield savings account. The current interest rate
on that account is 3.15%.
While
the 1% cash back offer is standard on many competitors' cards,
the rebate is generally returned as a check or used as a credit
on the cardholder's account. One from American Express may be
the first credit card to offer interest on the money rebated.
The
from American Express cardwill include a $35 annual fee.
While this fee will be waived for the first year, it obviously
will cut into cardholders' rebates in subsequent years.
Published 10/06/05 (Modified 12/20/13)
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