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. Membership Rewards points are some of the most valuable points currencies available today. Let's dive into this card and see if it's worth a spot in our wallets.
Why We Like This Card
- 15,000 bonus points
- 50% extra points
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. Terms and limitations apply. The annual fee is $95.
(See also: Best Cards for Grocery Shopping)
Bonus offer: Earn 15,000 bonus points after spending $1,000 in purchases on the card within your first 3 months of card membership, and enjoy a 0% intro APR on purchases and balance transfers for 12 months (then a variable rate currently 13.24% to 23.24%).
Use your points to get free or discounted travel through American Express's travel portal. Or link your travel loyalty programs to the card and transfer points to get award seats from your favorite airline. (See also: Best Travel Reward Cards)
Extended warranty and purchase protection. This card also comes with a number of shopping benefits. Every time 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. You'll also receive purchase and return protection. Your purchases are not only covered from theft and damage for 90 days, but if the merchant won't accept your return, American Express may refund the full purchase price of an eligible item.
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.
Terms and limitations apply.
- $95 Annual Fee
- 0% intro APR on purchases and balance transfers for 12 months (then 13.24%-23.24% variable)
- 3% Balance Transfer Fee (minimum $5)
- 2.7% Foreign Transaction Fee
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. (See also: Best Cards with Annual Fees)
Foreign transaction fee. Because of the 2.7% foreign transaction fee, this card shouldn't be used for international transactions. (See also: Best Cards Without Foreign Transaction Fees)
BankAmericard Cash Rewards™: The BankAmericard Cash Rewards™ Credit Card also awards similar categories. You can earn 3% cash back on gas and 2% cash back at grocery stores and wholesale clubs, up to the first $2,500 in combined grocery, wholesale club, and gas purchases each quarter. You earn an unlimited 1% cash back on other purchases. If you redeem your cash back into a Bank of America® checking or savings account, you get a 10% customer bonus each time. This card offers 0% intro APR on purchases and qualifying balance transfers for 12 billing cycles. After that, a variable APR of 13.24% - 23.24%. New cardholders can also earn a $100 cash rewards bonus after spending $500 in the first 90 days. There is no annual fee.
Capital One® QuickSilver® Cash Rewards: The Capital One® QuickSilver® Cash Rewards Card does not award as much but it is a great no-fuss cash rewards option. This card awards unlimited 1.5% cash back for all purchases. There is a one time $100 cash bonus after you spend $500 on purchases within 3 months of approval. You also get 0% intro APR on balance transfers and purchases for 9 months. After that, the variable APR is 13.24% - 23.24%; a balance transfer fee of 3% applies. There is no foreign transaction fee or annual fee.
Who This Card Is Best For
While other 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 30 times per billing cycle, this card could get you more points than any other rewards card available. (Check out the Amex Everyday Card with slightly lower rewards but no annual fee.)