Credit Card Review: One from American Express®

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In-Depth Credit Card Review:

Estimate Reward Earnings

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 competitive Annual Percentage Yield (APY), currently 4.00% (variable rate as of 2/4/08). 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 Updated: March 10, 2008)

Estimate Reward Earnings

n/a Intro APR (* see notes for details)
11.24% Regular Variable APR for Purchases
n/a Regular Fixed APR for Cash Advances

30 days Grace Period

Finance Configuration: Average daily balance (excluding new purchases).

Additional Cardholders: $0

Late Payment Fee: $29, subject to applicable law.

Over-The-Limit Fee: n/a

Cash Advance Fee: n/a

Balance Transfer Fee: n/a

Minimum Credit Limit: n/a

Maximum Credit Limit: n/a

Type of Reward: Rebate

Rebate Minimum: 1%

Rebate Maximum: 1%

Additional Rebates: The Savings Accelerator Plan contributes 1% of eligible purchases into an FDIC-insured High-Yield Savings account in your name.

Bonus Rebates First Purchase: $50 Account Credit

Bonus Rebates Other: $50 will be deposited into the savings account after the first purchase is made using the card.

Rebate Details: ***$50 will be deposited into the savings account after the first purchase is made using the card.

Expiration: None

Yearly Limit: None

Additional Features for One from American Express®:

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.

Important Notes for One from American Express®:

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 according to the applicant's credit history and will be 5.99% + Prime Rate.
Card is currently unavailable to residents of Puerto Rico.
See website for complete terms and conditions of card usage and application disclosure.

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Notes: The review on One from American Express® was updated on March 10, 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.