American Express to Offer Prepaid Cards With Cash-Back Rewards

American Express Co., the biggest credit-card issuer by purchases, said it’s offering a prepaid debit card that pays 1 percent cash back on purchases.

“We know consumers are looking to stretch their budgets and get more from every dollar they spend,” Stefan Happ, chief commercial officer, enterprise growth, said Wednesday in a statement from the New York-based company.

The monthly fee for the card, which doesn’t require a credit check or minimum balances, is $5.95.