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One from American Express® Review
Issued by American Express
  
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Overall Rating:
Benefit Rating:
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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 with a special rate of 2.75% APY (variable rate as of 4/15/2008). Plus, $50 will be deposited into the savings 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.
This card 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.
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 with a special rate of 2.75% APY (variable rate as of 4/15/2008). Plus, $50 will be deposited into the savings 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.
This card 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.
Review Date: August 29, 2008
Note: The review on this card was updated on August 29, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.
| Credit Card Rate Details | |
Intro Rate (Intro APR):
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No Introductory Rate Available |
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Purchase APR:
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As low as 10.99% (Variable) The APR for purchases is based on the Prime Rate. |
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Finance Configuration:
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Average Daily Balance (excluding new purchases) |
| Credit Card Fee Details | |
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Annual Fee:
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$35** |
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Annual Fee Details:
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**The annual fee will be waived the first year. |
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Additional Cardholders:
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$0 |
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Grace Period:
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30 Days (Avg.) |
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Late Payment Fee:
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$29 |
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Cash Advance Fee:
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n/a |
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Minimum Credit Limit:
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See Important Notations |
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Maximum Credit Limit:
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See Important Notations |
| Credit Card Reward Program Details (Rebate) | |
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Rebate Minimum:
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1% |
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Rebate Maximum:
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1% |
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Additional Rebates:
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None |
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Rebate Details:
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The unique Savings Accelerator(SM) Plan contributes 1% of all eligible purchases into an FDIC-insured, high-yield savings account in the cardholder's name with a special rate of 2.75% APY (variable rate as of 4/15/2008). |
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Expiration:
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None |
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Yearly Limit:
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None |
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Bonus First Purchase:
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$50 Account Credit*** |
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Bonus Details:
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***$50 will be deposited into the savings account after the first purchase is made using the card. |
| Features | |
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Most Attractive Feature(s):
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| Receive $50 after the first purchase; cash back rebate program; no annual fee your first year. | |
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Least Attractive Feature(s):
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| Not all applicants may qualify for the lowest rate offered; cash back rebates are earned for purchases only. | |
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Additional Features:
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| Various Internet account related services. Purchase protection. Extended warranty for purchases. Return protection. Auto rental insurance. Emergency card replacement. Emergency cash replacement. Medical referral services. Legal referral services. Roadside assistance. Various travel and emergency assistance services. Up to $100,000 in travel accident insurance. No liability for unauthorized Internet transactions. See website for additional benefits. |
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Important Notations
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| The card has no pre-set spending limit; however, purchases are approved based on credit record, account history, and personal resources. The APR for purchases varies and will be 10.99%, 11.99%, or 12.99%. The card is currently unavailable to residents of Puerto Rico. See website for complete terms and conditions of card usage and application disclosure. | |
| Additional Information | |
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Apply Online for the One from American Express® from American Express See other Cash Back Credit Cards See other American Express Credit Cards |
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