Amex EveryDay Preferred: More Rewards for More Purchases

By Mark Jackson. Last updated 26 May 2016. 0 comments

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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 sign-up bonus points
  • 50% bonus on 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.

Sign up 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%, based on creditworthiness).

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.

Other Benefits

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, up to $300 per item and up to a max of $1,000 per calendar year. 

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.

Costs

  • $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

Pros

50% bonus. This card is great for those who frequently use their credit cards, for purchases large and small, and doesn't just reward you for the total amount you spend, but for spending frequently. A 50% bonus just for using your card 30 or more times in a billing period 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 that aren't always included in rewards programs. (See also: Best Cards for Grocery Shopping)

Cons

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. 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)

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.)

Terms and conditions apply.

Apply for the Amex EveryDay® Preferred Credit Card from American Express today!


 

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