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Verdict: has no fees, an automatic rewards program, and useful credit management tools. For consumers that always pay off their cards each month, this card is great.
If you do not hold large balances and always make your payments on time, then this consumer card may be right for you also. However, if your money management skills fall short of perfect this card is not for you. The penalty for a late payment is lofty.
has no fees of any kind – no annual, late, over-limit, balance transfer, or cash advance fees.
How this card works
Through the reward program, cardholders earn a cash rebate of 1% on all eligible purchases. The rebates are automatically issued in the form of an American Express(r) branded shopping card worth $25 each time the cardholder reaches $2,500 in spending. Shopping cards expire one year after they are issued.
- No annual fee
- No late fees
- No over-limit fees
- No balance transfer fees
- No cash advance fees
Intro rate of 0% for up to a year on new purchases, with a 1% rewards program, which is set up to work automatically. Every time cardholders spend $2,500, a $25 American Express(r) branded shopping card will be mailed to them, which is good for a year from the date it is issued. There is no program to join or number to call when you have reached that amount.
The card also features an attractive 3.99% fixed rate on initial balance transfers (on balance transfer requests submitted with the card application) that is good for the life of the balance (this is not an introductory rate). However, the rate on future transfers is between 12.99% to 16.99%.
A free user-friendly credit report and credit score every 12 months is included with account alerts, including payment due reminders and balance updates, as well as purchase, identity theft, and travel protection.
This card has no fees.
No Fees, Great No-Hassle Rewards Program, Free Credit Reports, No Introductory Fee
If you are late twice in a twelve-month period, your APR will be increased to 28.99% as of this writing, which could be far more costly than the typical late fee on a credit card. In addition, American Express reports each late payment to the credit bureaus, which means that the rate on your other cards might rise as a result of a single late payment to American Express. Rewards are awarded on purchases only.
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