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"One" Credit Card Offers Cash Back with a Twist

by Peter Andrew
"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. One 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 One from American Express card will 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.

Disclaimer:The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.

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