Searching for Information on One from American Express
Guest: ore83
Post subject:
Posted: Fri Feb 24, 2006 1:16 am
Does anybody have any info on One, from AMEX? I was just approved for it and wanted to know if anybody out there has any experiences to share? I couldn't find the card in the card review section....
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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Fri Feb 24, 2006 2:05 am
ore83 wrote:
Does anybody have any info on One, from AMEX? I was just approved for it and wanted to know if anybody out there has any experiences to share? I couldn't find the card in the card review section....
I don't want it
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Guest: Ore83
Posted: Fri Feb 24, 2006 2:36 am
You don't want it? I thought it sounded neat because of the savings account. Also, does any one know more about the whole 'no pre-set spending limit'?
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Guest: rapjunkie
Posted: Fri Feb 24, 2006 4:06 am
I don't have the card, but I've read that there's an annual fee (waived the first year). With the savings account being 1%, it just doesn't seem worth it when there are cash back cards available and you could always deposit that cash into a high yield savings account. If AMEX at least did away with the annual fee entirely, it would sound like a cool idea for people that wanted some savings being established that they don't even want to have to think about.
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Guest: Board Monitor
Board Monitor/ Administrator
Posted: Fri Feb 24, 2006 9:15 am
Good points rapjunkie. I agree. I have a problem with a savings related card that charges an annual fee.
_________________
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(501) 663-0314
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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Fri Feb 24, 2006 6:41 pm
The annual fee after the first year certainly sucks, but you can also put your OWN money into this acct, which has a higher rate than my regular savings acct could ever offer. I think that's what won me over... Still the 'no pre-set spending limit' sparks my curiousity.
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Guest: shooter
Credit Expert (100+ Posts)
Posted: Fri Feb 24, 2006 8:44 pm
I was interested in this card and almost applied for it. Luckily I found out about emigrant Direct's money market account which is now paying 4.25%. That is higher than the Amex savings account and I can put my own money into it. Plus I can take the cash back rewards from my other cards which give me more than 1% and put those into that account. There are better options out there which don't require an annual fee.
Can't comment on the no pre-set limit as I don't have any Amex charge cards.
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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Fri Feb 24, 2006 8:51 pm
UNLIMITED CREDIT LIMIT is a false statement
You have an EXPOSURE LIMIT
That amount is known (only if you can get it on-line or by phone) if you don't know it you never know when you will be denied
You could spend $5,000 on something and be approved and go to McDONALDS for HAPPY MEALS for the kids and be DENIED for that $10 sale
THE EXPOSURE LIMIT CAN CHANGE FROM DAY TO DAY OR WEEK TO WEEK OR MONTH TO MONTH
(and it not always in an UP direction)
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Guest: ore83
Posted: Sat Feb 25, 2006 12:20 am
Hey shooter, how do I found out more on Emigrant Direct's money market account?
Mouse, the whole exposure limit thing sounds worthless, almost think I'd rather just have a credit limit. I asked the rep with AMEX if it had a limit or if they just called it a no limit card... and he said "no, it really has no limit"... I read on here that people have actually gotten them to tell them their exposure limits... The guy I talked with wasn't very responsive... *sigh*
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: shooter
Credit Expert (100+ Posts)
Posted: Sat Feb 25, 2006 1:41 am
go to emigrantdirect.com and click the "learn more" link and that will have all the info you need. You can set it up and make an initial deposit online then it takes a few days for them to get it all set up and verified before you can make further transactions with it.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: rainyday
Posted: Sat Feb 25, 2006 8:10 am
You might also consider HSBC Direct 4.80% until 4-30-06. This online savings account has consistantly been one of the highest APR's and if you have local branches you can have access though their debit card.
Link to HSBC online savings bonus good till 2-28-06, enter promo code "start"....
http://hsbcdirect.com/1/start.htm
Link to $10 bonus for opening a free checking account with HSBC..
http://www.us.hsbc.com/1/2/3/personal/checking/freecheckingoffer?code=CHECK
Link to HSBC Smart Checking package and get $50 bonus* with your new HSBC Debit MasterCard® Card..
http://www.us.hsbc.com/1/2/3/personal/checking/debitoffer?code=GET50
I've been happy with them!
_________________
Experience is a hard teacher because she gives the test first, the lesson afterward.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: shooter
Credit Expert (100+ Posts)
Posted: Sat Feb 25, 2006 5:56 pm
rainyday wrote:
You might also consider HSBC Direct 4.80% until 4-30-06. This online savings account has consistantly been one of the highest APR's and if you have local branches you can have access though their debit card.
Link to HSBC online savings bonus good till 2-28-06, enter promo code "start"....
http://hsbcdirect.com/1/start.htm
Link to $10 bonus for opening a free checking account with HSBC..
http://www.us.hsbc.com/1/2/3/personal/checking/freecheckingoffer?code=CHECK
Link to HSBC Smart Checking package and get $50 bonus* with your new HSBC Debit MasterCard® Card..
http://www.us.hsbc.com/1/2/3/personal/checking/debitoffer?code=GET50
I've been happy with them!
Wow that is good to know. Thanks!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Sun Feb 26, 2006 12:22 pm
Okay, so I'm just starting the process for Emigrant Direct... Sounds like it'll take a few days to open since they want to 'test' my bank account to ensure it's mine by depositing and withdrawing some change and have me confirm the amounts. I like the fact that it's a savings acct with a decent amount of interest with NO min deposit.
Now is it strictly an online account or will an ATM card or similar come with the acct?
Also, with my One from AMEX acct, it has no pre-set limit but rather an 'exposure limit'. Usually those are only on 'charge' cards where you must pay the bal. in full every month, but mine also has the option to pay it like a regular 'credit' card... As in whatever I can and that it doesn't have to be in full. So is it like a 'charge' card with the flexability of a 'credit' card? The more I read on it the most I get confused...
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Guest: Tek
Posted: Mon Feb 27, 2006 8:54 am
The American Express One Card is a charge card. However, they will let you carry a balance if you need to. In that case, they will charge you interest like any other credit card. They do this on other charge cards under the name "Sign & Travel" and "Extended Payments". Under those programs you have to be over $200 on a purchase or any travel purchase of any amount. The One card will let you extend any purchase.
The NO-PRE SET Spending limit isn't that big of a deal. I doubt you will ever reach it because it is based off your income. If you reach it then you might question if your spending more then you make.
As far as the $35 annual fee is concerned. If you make use of the all the cars protection features and American Express Selects offers, the $35 will be covered and then some by all the savings.
I have always told people who are upset about the annual fees on AMEX cards that if they use the card for everything and take advantage of its features it will pay for itself and then some.
My Gold Card has a $90 annual fee. By the end of the year I have usually benefited from $300 worth of goodies, protection, discounts, or membership rewards.
Hope this helped.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: credithelp
Credit Expert (100+ Posts)
Posted: Mon Feb 27, 2006 6:37 pm
The money that i put into the account makes it worthwhile, not the 1% back. Unless you are a big spender the 1% doesnt add up to much. I do like the fact that i can withdraw money without an early withdrawal penalty. I'm sure i will charge at least 3500 a year so the annual fee will pay for itself with the initial 1% back.
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Post subject:
Posted: Fri Feb 24, 2006 1:16 am
Does anybody have any info on One, from AMEX? I was just approved for it and wanted to know if anybody out there has any experiences to share? I couldn't find the card in the card review section....
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Fri Feb 24, 2006 2:05 am
ore83 wrote:
Does anybody have any info on One, from AMEX? I was just approved for it and wanted to know if anybody out there has any experiences to share? I couldn't find the card in the card review section....
I don't want it
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Ore83
Posted: Fri Feb 24, 2006 2:36 am
You don't want it? I thought it sounded neat because of the savings account. Also, does any one know more about the whole 'no pre-set spending limit'?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: rapjunkie
Posted: Fri Feb 24, 2006 4:06 am
I don't have the card, but I've read that there's an annual fee (waived the first year). With the savings account being 1%, it just doesn't seem worth it when there are cash back cards available and you could always deposit that cash into a high yield savings account. If AMEX at least did away with the annual fee entirely, it would sound like a cool idea for people that wanted some savings being established that they don't even want to have to think about.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Fri Feb 24, 2006 9:15 am
Good points rapjunkie. I agree. I have a problem with a savings related card that charges an annual fee.
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Fri Feb 24, 2006 6:41 pm
The annual fee after the first year certainly sucks, but you can also put your OWN money into this acct, which has a higher rate than my regular savings acct could ever offer. I think that's what won me over... Still the 'no pre-set spending limit' sparks my curiousity.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: shooter
Credit Expert (100+ Posts)
Posted: Fri Feb 24, 2006 8:44 pm
I was interested in this card and almost applied for it. Luckily I found out about emigrant Direct's money market account which is now paying 4.25%. That is higher than the Amex savings account and I can put my own money into it. Plus I can take the cash back rewards from my other cards which give me more than 1% and put those into that account. There are better options out there which don't require an annual fee.
Can't comment on the no pre-set limit as I don't have any Amex charge cards.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Fri Feb 24, 2006 8:51 pm
UNLIMITED CREDIT LIMIT is a false statement
You have an EXPOSURE LIMIT
That amount is known (only if you can get it on-line or by phone) if you don't know it you never know when you will be denied
You could spend $5,000 on something and be approved and go to McDONALDS for HAPPY MEALS for the kids and be DENIED for that $10 sale
THE EXPOSURE LIMIT CAN CHANGE FROM DAY TO DAY OR WEEK TO WEEK OR MONTH TO MONTH
(and it not always in an UP direction)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Sat Feb 25, 2006 12:20 am
Hey shooter, how do I found out more on Emigrant Direct's money market account?
Mouse, the whole exposure limit thing sounds worthless, almost think I'd rather just have a credit limit. I asked the rep with AMEX if it had a limit or if they just called it a no limit card... and he said "no, it really has no limit"... I read on here that people have actually gotten them to tell them their exposure limits... The guy I talked with wasn't very responsive... *sigh*
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: shooter
Credit Expert (100+ Posts)
Posted: Sat Feb 25, 2006 1:41 am
go to emigrantdirect.com and click the "learn more" link and that will have all the info you need. You can set it up and make an initial deposit online then it takes a few days for them to get it all set up and verified before you can make further transactions with it.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: rainyday
Posted: Sat Feb 25, 2006 8:10 am
You might also consider HSBC Direct 4.80% until 4-30-06. This online savings account has consistantly been one of the highest APR's and if you have local branches you can have access though their debit card.
Link to HSBC online savings bonus good till 2-28-06, enter promo code "start"....
http://hsbcdirect.com/1/start.htm
Link to $10 bonus for opening a free checking account with HSBC..
http://www.us.hsbc.com/1/2/3/personal/checking/freecheckingoffer?code=CHECK
Link to HSBC Smart Checking package and get $50 bonus* with your new HSBC Debit MasterCard® Card..
http://www.us.hsbc.com/1/2/3/personal/checking/debitoffer?code=GET50
I've been happy with them!
_________________
Experience is a hard teacher because she gives the test first, the lesson afterward.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: shooter
Credit Expert (100+ Posts)
Posted: Sat Feb 25, 2006 5:56 pm
rainyday wrote:
You might also consider HSBC Direct 4.80% until 4-30-06. This online savings account has consistantly been one of the highest APR's and if you have local branches you can have access though their debit card.
Link to HSBC online savings bonus good till 2-28-06, enter promo code "start"....
http://hsbcdirect.com/1/start.htm
Link to $10 bonus for opening a free checking account with HSBC..
http://www.us.hsbc.com/1/2/3/personal/checking/freecheckingoffer?code=CHECK
Link to HSBC Smart Checking package and get $50 bonus* with your new HSBC Debit MasterCard® Card..
http://www.us.hsbc.com/1/2/3/personal/checking/debitoffer?code=GET50
I've been happy with them!
Wow that is good to know. Thanks!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Sun Feb 26, 2006 12:22 pm
Okay, so I'm just starting the process for Emigrant Direct... Sounds like it'll take a few days to open since they want to 'test' my bank account to ensure it's mine by depositing and withdrawing some change and have me confirm the amounts. I like the fact that it's a savings acct with a decent amount of interest with NO min deposit.
Now is it strictly an online account or will an ATM card or similar come with the acct?
Also, with my One from AMEX acct, it has no pre-set limit but rather an 'exposure limit'. Usually those are only on 'charge' cards where you must pay the bal. in full every month, but mine also has the option to pay it like a regular 'credit' card... As in whatever I can and that it doesn't have to be in full. So is it like a 'charge' card with the flexability of a 'credit' card? The more I read on it the most I get confused...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Tek
Posted: Mon Feb 27, 2006 8:54 am
The American Express One Card is a charge card. However, they will let you carry a balance if you need to. In that case, they will charge you interest like any other credit card. They do this on other charge cards under the name "Sign & Travel" and "Extended Payments". Under those programs you have to be over $200 on a purchase or any travel purchase of any amount. The One card will let you extend any purchase.
The NO-PRE SET Spending limit isn't that big of a deal. I doubt you will ever reach it because it is based off your income. If you reach it then you might question if your spending more then you make.
As far as the $35 annual fee is concerned. If you make use of the all the cars protection features and American Express Selects offers, the $35 will be covered and then some by all the savings.
I have always told people who are upset about the annual fees on AMEX cards that if they use the card for everything and take advantage of its features it will pay for itself and then some.
My Gold Card has a $90 annual fee. By the end of the year I have usually benefited from $300 worth of goodies, protection, discounts, or membership rewards.
Hope this helped.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: credithelp
Credit Expert (100+ Posts)
Posted: Mon Feb 27, 2006 6:37 pm
The money that i put into the account makes it worthwhile, not the 1% back. Unless you are a big spender the 1% doesnt add up to much. I do like the fact that i can withdraw money without an early withdrawal penalty. I'm sure i will charge at least 3500 a year so the annual fee will pay for itself with the initial 1% back.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 2:39 PM
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