Comments on: Cashback With A Twist – Amex and BoA

By: Well i'm new

Well i'm new — Sat, 30 Sep 2006 09:20:02 +0000

Well I’m one of the new ones with this amex one card. And i’m still scratching my head on what that 1% toward the savings account applies. for i purchased groceries, gas and many household items and got nothing toward my savings otherthan the $50 bonus. Boa their card is no more than a debit card and there’s no bank in the city i live in. too bad Capital one couldn’t try for one with a higher percent to savings program. hopefully without the higher fees. i’m not saying its a bad thing just clarity to it all. the commercial shows items for home improvement, but is that its limit. Electronics and home decor?

By: FMF

FMF — Mon, 06 Feb 2006 13:13:19 +0000

I use Amex BLUE — no fee and decent rebate.

By: DropDeadGorgias

DropDeadGorgias — Mon, 06 Feb 2006 04:34:26 +0000

However, the Amex One card has a $35 dollar annual fee after the first year. That was enough to stop me from even looking further into it.

By: Consumerism Commentary

Consumerism Commentary — Wed, 21 Dec 2005 14:38:09 +0000

American Express One

American Express is offering a relatively new (well, a few months old) credit card called One. As you spend, 1% of each purchase is automatically deposited into a savings account that’s currently earning 3.5% APY. It’s not a horrible intere…

By: Randolph

Randolph — Tue, 15 Nov 2005 01:52:58 +0000

Disregard my previous entry concerning the American Express One card as being a good thing. I have never encountered such incompetence from any company. American Express has released a product that they are unable to support. Their advertisements concerning this card all false. After having this card for three weeks, I have now filed a complaint with the BBB, the FTC, and my state’s attorney general’s office. Do not get this card. I have had other American Express cards for years and have never had a complaint, but after my experience with them concerning this account, I will never do business with them again.

By: Just a Memo

Just a Memo — Tue, 08 Nov 2005 22:50:22 +0000

Keep the Change, Bank of America Says

I finally came to stumble upon this myself. Anyways… if you haven’t heard or seen yet (especially for BofA members), Keep the Change, the new program developed by Bank of America lets you save money in a weird way….

By: Randolph

Randolph — Wed, 26 Oct 2005 05:26:26 +0000

The American Express One card seems to make financial sense if you use it to pay for everday purchases; and pay it off in full each month. If you spend more than $291 a month on groceries, gas, utilities, etc… then you will break even with the annual fee of $35 (which they waive the first year). So anyting above that is a 1% match going into a high yield savings account (currently 3.50%). If your monthly bills exceed $291, then this seems to make each dollar you spend worth a little more. Emigrant-Direct is scheduled to release a similar credit card plan in November; can’t wait to benefit from the competition between two of my most favorite financial institutions.

By: jim

jim — Fri, 21 Oct 2005 17:24:16 +0000

You’re right, the BoA “Keep the Change” plan is better in the first three months than a 1% cash back card if your purchases are less than $99 (spend $99.01, get your own 99 cents in an account and 99 cents matched by BoA versus 99 cents cash back at 1%), but after three months it’s better to use the 1% card.

By: Tony

Tony — Fri, 21 Oct 2005 16:36:45 +0000

Jim buddy, your wrong and so is CNN Money.
Why would you NOT sign up for a program that helps you achieve “automatic” savings AND gives money away? When was the last time a bank gave away money, you never see that happening. For three months BOA is going to give me change on the dollar every time I use my card, which I am using anyway. I was at a restaurant and calculated the tip and total to equal 30.01, BOA just gave me a dollar that I would have never had otherwise.

You can tell CNN their wrong for me, okay?

Thanks

TDog