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This credit card is a good card for people who already have a very good credit rating. It offers a cash rebate of 1% of purchases that are eligible under its program. The cash rebates are then deposited into high yield savings accounts that earn special rates (5% variable rate currently). A bonus $50 will also be deposited into the high yield savings account when you make your first purchase using this card. This is a great way to save money. If you use this credit card every month and don't carry a balance (or carry a small balance), you could be really leveraging your cash rewards into a tidy savings account. The high yield account rates turn that cash rebate into a little money maker and if you keep adding rewards, you will end up with a significant account. The high yield savings account is FDIC insured. The One Card also comes with the added benefits of car rental insurance and purchase protection as well as some travel accident insurance. These are always good features to have on your credit card even if you don't use them very often. The One Card from American Express has a variable annual percentage rate interest. Variable rates go up and down when the prime lending rate goes up and down. The rate for this card is 10.99% above prime rate depending on a review of your credit and your credit history. The default APR for this card is 26.99% which means that if you do not make your minimum payments on time three or more times, the default rate kicks in. The annual fee for this card is $35 but there is no fee for the first year. The One Card does not have a fee for additional cards. If you do not have good credit, you may not qualify for the lowest rates on this card. If you qualify but only at a higher rate, you can still get cash back rewards that are turned into higher yielding savings but if you carry a balance those rewards would easily be offset by the interest you would be paying on this credit card and would not make much sense. For this reason, this card is better suited to those who have already established a fairly good credit history. The One Card from American Express is definitely something to consider if getting some money into savings is important to you.