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Given the negative personal savings rate for the U.S., another credit card company has come up with a way to encourage consumers to put something away for a rainy day. American Express has launched a credit card that generates cash rewards automatically swept into a savings account. The new “American Express One” card also features “Interest Protection” wherein cardholders can separate purchases to pay off and those to pay over time. The card is linked to a high-yield savings account with American Express Bank, and currently pays 3.15% per annum. The “Savings Accelerator” feature also permits cardholders to contribute extra funds to their account. The card offers a “Spend Tracking Alert” for cardholders to designate a monthly spending amount and set up email or text-message reminders to alert them when they have reached that amount. The annual fee for “One from American Express” is $35 which is waived for the first year. The APR is prime +5.99%. All new cardholders also receive a $25 bonus contribution to their savings account, upon first purchase. For more information visit: “www.americanexpress.com”:www.americanexpress.com

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