Amex EveryDay® Preferred: More Rewards for More Purchases
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It's not often we see a new credit card product from American Express, and especially not one that earns Membership Rewards points. But, every day is a new day, and the Amex EveryDay® Preferred Credit Card has arrived, ready to extend credit to us and help us earn some much needed points! Membership Rewards points are some of the most valuable points currencies available today. Let's dive into the and see if it's worth a spot in our wallets.
Some Card Highlights
- Earn 15,000 Membership Reward points after you use your new Card to make $1,000 in purchases within the first 3 months.
- Earn 50% more points: Make 30 or more purchases with your Card in a billing period and get 50% extra points on those purchases less returns and credits. Terms and limitations apply.
- 3x points at US supermarkets on up to $6,000 per year in purchases (then 1x); 2x points at US gas stations; 1x points on other purchases. Terms and limitations apply.
- You can use Membership Rewards® Pay with Points to pay for all or part of your flight, hotel booked and paid in advance, vacation or cruise booking through amextravel.com.
- 0% intro APR on purchases and balance transfers for 15 months, then a variable rate, currently 12.99% to 21.99%, based on your creditworthiness and other factors.
- Terms and limitations apply.
- See Rates & Fees
How This Card Works
The current sign up bonus includes 15,000 bonus points after you spend $1,000 in purchases within the first 3 months and 0% intro APR on purchases and balance transfers for 15 months (then a variable rate currently 12.99% to 21.99%, based on creditworthiness).
The card offers 3x points at US supermarkets (up to $6,000 per year, then 1x), 2x points at US gas stations, and 1x points on other purchases. Additionally, if you use your card 30 or more times on purchases in a billing period, you'll get 50% more points on those purchases. Terms and limitations apply.
Use your points to get free or discounted travel through American Express' travel portal. Or link your travel loyalty programs to the card and transfer points to get award seats from your favorite airline.
Other benefits included with this card includes Entertainment Access, which gets you into exclusive events and ticket presales only available to card members, Extended Warranty, Purchase and Return protection. Also get travel benefits like Roadside Assistance, Global Assist, Car Rental Insurance, and Travel Accident Insurance.
The card has an annual fee of $95 per year. In addition, you'll have an introductory APR period for new card members, which is 15 months. Afterward, you'll have a variable rate APR, between 12.99 and 21.99%, based on your creditworthiness. There is also a 2.7% foreign transaction fee.
This card is great for those who frequently use their credit cards, for purchases large and small. This card doesn't just reward you for the total amount you spend, but for spending frequently. A 50% bonus just for using your card 30 times or more is a great value.
3x and 2x points for US supermarkets and US gas stations respectively are also great categories for bonus points.
The annual fee of $95 is a bit steep, so you should do the math to figure out whether the bonus categories and extra 50% boost in points will be worth the expense. Also there is a 2.7% foreign transaction fee, so it's not good to use internationally.
Who This Card Is Best For
While more rewards cards only offer bonus points for specific categories of spending, the Everyday line of cards offer a bonus on all your spending (if you meet the minimum requirement). The extra points for supermarkets and gas make it ideal for those with large expenditures in those areas, too. If you find that you're swiping your card at least 50 times per billing cycle, this card could get you more points than any other. (Check out the Amex Everyday card with slightly lower rewards but no annual fee.)
American Express has a wide selection of travel offers in their travel portal, so redeeming points for travel is easy. You can also transfer points to select loyalty programs.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any bank, card issuer, airline or hotel chain.