Two Cards That Help You Save

While credit cards are typically used as spending tools, credit card issuers have begun to issue cards that will actually help their users save. Of course, using credit card rewards to help you save is only effective if you are not purchasing things you don't need only to gain the rewards. And, you'll need to pay in full to avoid interest charges that would outweigh any savings. That said, here are two particularly good credit cards that help you save:

One from American Express

Every month, 1% of purchases made using this charge card will be deposited into an FDIC-insured savings account earning 5% APY. As of the date of this post, the 5% APY makes this one of the highest yield savings accounts available. After your first purchase, American Express will make a bonus $50 deposit into your account. Card members can also make their own deposits on top of American Express's 1% contribution and $50 bonus. More...

Citi Upromise Card (World/Platinum)

This credit card comes in two flavors: a World MasterCard and a Platinum Select MasterCard. With both cards, 1% of purchases will be deposited into your Upromise account (a rewards program that allows members to save for college or pay back some existing college loans). In addition, you'll get an extra 10% extra college savings on 7000+ grocery and drug store items at participating stores. With the World MasterCard, you'll also get 10% college savings on dining purchases at 8000+ Upromise participating restaurants. More (World/Platinum)...