Amex has created a card to encourage us to save. To jump start our savings they are going to give us $50 after our first purchase. Every dollar spent with this card can be money saved and interest earned. Here is how it goes.
- Online Link: Deal & Details
- Bonus: Get $50 to jump-start your savings after your first purchase.
- APY: Currently 3.50%
- Cash Back: A full 1% of your eligible purchases will be deposited into a High-Yield, FDIC-insured Savings Account opened in your name.
- No annual fee for the first year - $35 thereafter.
- No Preset Spending Limit. You can pay in full or over time. It comes with interest protection i.e. carry a balance without paying interest on new purchases.
In short, the sign up bonus of $50 is sweet and so is the 1% cash back in a high yield savings account. Since the annual fees is waived for the first year we shall go Amex. After all who does not love Free Money!