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We are an independent publisher. Our reporters create honest, accurate, and objective content to help you make decisions. To support our work, we are paid for providing advertising services. Many, but not all, of the offers and clickable hyperlinks (such as a “Next” button) that appear on this site are from companies that compensate us. The compensation we receive and other factors, such as your location, may impact what ads and links appear on our site, and how, where, and in what order ads and links appear. While we strive to provide a wide range of offers, our site does not include information about every product or service that may be available to you. We strive to keep our information accurate and up-to-date, but some information may not be current. So, your actual offer terms from an advertiser may be different than the offer terms on this site. And the advertised offers may be subject to additional terms and conditions of the advertiser. All information is presented without any warranty or guarantee to you.
This page may include: credit card ads that we may be paid for (“advertiser listing”); and general information about credit card products (“editorial content”). Many, but not all, of the offers and clickable hyperlinks (such as a “Apply Now” button or “Learn More” button) that appear on this site are from companies that compensate us. When you click on that hyperlink or button, you may be directed to the credit card issuer’s website where you can review the terms and conditions for your selected offer. Each advertiser is responsible for the accuracy and availability of its ad offer details, but we attempt to verify those offer details. We have partnerships with advertisers such as Brex, Capital One, Chase, Citi, Wells Fargo and Discover. We also include editorial content to educate consumers about financial products and services. Some of that content may also contain ads, including links to advertisers’ sites, and we may be paid on those ads or links.
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But you’ll pay a $5.95 monthly fee (except folks in New York, Texas, and Vermont) and up to $3.95 to reload the card with cash, debit, or PIN-enabled gift cards at locations like Walmart, CVS, and Family Dollar.
You’ll Pay a Monthly Fee AND ~$4 Each Time You Reload the American Express Serve Cash Back Card
With the American Express Serve Cash Back card, you’ll only earn cash back on purchases. So transactions like paying bills, transferring money to others, or withdrawing funds to your bank account will NOT earn anything!
You’ll Only Earn 1% Cash Back on Purchases In-Store or Online
And unlike the Green Serve (Free Reloads) card, you’ll still pay a ~$4 fee every time you reload the card. That’s not a good deal at all, and negates the value of the cash back you earn!
Some bill payment services charge a lower (or NO fee) when you use a debit card instead of a credit card.
For example, you’ll pay a small flat fee when you use a debit card to pay income taxes (compared with fees of 1.87% to 2.35% when you use a credit card).
And rent payment services like RadPad don’t charge any fees for debit transactions.
However, folks report when you use your Serve card as payment on these types of sites, the purchase is coded as a credit (NOT debit) transaction, and you’ll pay the same fees as using any other credit card.
Bill Payment Services Treat Serve Transactions Like a Credit Card, So You Won’t Save on Fees
So you’re better off paying directly with a credit card that earns more cash back or miles & points if you’re trying to meet minimum spending requirements.
There’s Still a Fee-Free Serve
Earning 1% cash back on purchases with the Serve Cash Back card is generally not worth it for most, especially considering you’ll pay a monthly fee plus reload fees.
Folks might consider registering for the ONE VIP version of American Express Serve. There’s no fee to reload it, and you’ll only pay a $1 monthly fee ($0 if you add at least $500 to the card each month, or if you live in New York, Texas, or Vermont).
Like the Old Serve – No Fees for Reloads and Minimal to No Monthly Fee With the ONE VIP Serve Card
I don’t know how long the ONE VIP Serve card will be available.
Bottom Line
The new Serve Cash Back prepaid card earns 1% cash back on purchases in-store and online. It’s NOT a good deal.
You will NOT earn cash back for transactions like paying bills, transferring money, or withdrawing to your bank account.
Plus, you’ll pay a ~$6 monthly fee and ~$4 each time you reload the card. You’ll likely pay more in fees than you’ll earn in cash back!
Folks interested in a Serve account will do better with the ONE VIP Serve (no reload fees and minimal to no monthly fee) or the Green Serve (no reload fees and a flat ~$5 monthly fee).
Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)
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