American Express Introduces New Cash Rewards Card

American Express Incentive Services has introduced a new cash-based stored value card called IncentiveFunds Select.

IFC Select is essentially "electronic cash" -- a predenominated stored-value card that's accepted virtually everywhere the American Express® Card is welcome, including ATMs. Cardholders enjoy the option of purchasing merchandise or redeeming the card for cash. IFC Select's comprehensive lost or stolen replacement protection, brand prestige and administrative and cost efficiencies are just a few advantages the card offers over traditional cash rewards such as currency or company checks.