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.
Why We Like This Card
- 15,000 sign-up bonus points
- 50% bonus on points
- Generous bonus categories
How This Card Works
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.
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.
Sign up offer: Get 15,000 bonus points after spending $1,000 in purchases on the card within the first 3 months of card membership, and enjoy a 0% intro APR on purchases and balance transfers for 15 months (then a variable rate currently 12.99% to 21.99%, based on creditworthiness).
Travel benefits and services. You can rest easy when you travel with this card, as you'll be covered by car rental insurance, baggage insurance, and travel accident insurance. You'll also have access to a roadside assistance hotline and a Global Assist Hotline, which means that if you ever find yourself in any trouble on your travels, help will just be a phone call away.
Entertainment access. Cardholders will receive special discounts and access to presales for sporting events, concerts, and shows, as well as invites to cardmember-only events.
Extended warranty and purchase protection. This card also comes with a number of shopping benefits. Every time that you buy an item that has a warranty of five years or less, you'll receive an extra year of warranty, just by using this card to purchase it. You'll also receive purchase and return protection. This means that your purchases are covered from theft and damage for 90 days, and that American Express may refund the full purchase price of an eligible item (up to $300 per item and up to a max of $1,000 per calendar year) if you return the item within 90 days from the purchase date and the merchant won't accept the return.
- $95 Annual Fee
- 12.99%-21.99% (purchases and balance transfers); 25.24% (cash advance); 29.24% (penalty rate)
- 3% Balance Transfer Fee
- 2.7% Foreign Transaction Fee
Great for frequent spenders. 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.
Generous bonus categories. 3x and 2x points for US supermarkets and US gas stations respectively are also great categories for bonus points.
High annual fee. 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.
Foreign transaction fee. 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.
Terms and limitations apply.
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.