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The Amex EveryDay® Credit Card from American Express – Review

The Amex EveryDay® Credit Card from American Express – Review

Learn more about this card and find out how you can apply here.

The Amex EveryDay® Credit Card from American Express (a Money Crashers partner) is a cash back credit card that utilizes a complicated but versatile point system to reward users. It has no annual fee and accelerated point earnings (2 points per $1 spent) at the supermarket, plus 1 point per $1 spent on everything else.

EveryDay competes with a number of other cash back and rewards credit cards, including American Express’s own Blue Cash Everyday, Blue Cash Preferred, EveryDay Preferred, and Plenti, as well as non-Amex cards such as Capital One Quicksilver Credit Card, Discover it, Chase Freedom, Bank Americard Cash Rewards, Barclaycard CashForward™ World Mastercard® , and numerous travel rewards credit cards.

When you spend at least $1,000 within 3 months of opening your account, you get 10,000 Membership Rewards points. That’s worth up to $100 at redemption.

Every U.S. supermarket purchase made with your Amex EveryDay Card earns 2 Membership Rewards points per $1 spent, up to an annual purchase cap of $6,000. Above the cap, U.S. supermarket purchases earn an unlimited 1 point per $1 spent. All other purchases also earn an unlimited 1 point per $1 spent. Note that American Express excludes big-box superstores such as Walmart and warehouse clubs such as Costco from its supermarket definition.

Separately, the Double Membership Rewards program doubles your point earnings on most prepaid travel purchases (but not car rentals) made through American Express’s travel portal, including hotels and airfare. Also, when you make at least 20 purchases in a billing period, you automatically earn a 20% bonus on all points earned during the period (retroactive to the first day).

You can redeem your accumulated Membership Rewards points at American Express’s Membership Rewards portal, starting at a minimum of 1,000 points. Redemption options include general merchandise, gift cards, and statement credits. Point values range from $0.005 to $0.01 at redemption. Cash equivalents are generally worth less – for instance, statement credits work out to $0.006 per point, while Uber credits go for $0.01 per point.

Your purchase and balance transfer APR is fixed at 0% for the first 15 months your account is open. Qualifying balance transfers must be made within 30 days of account opening. Following the introductory period’s end, the variable APR ranges between 14.49% and 25.49% APR, depending on your personal creditworthiness and prevailing interest rates.

There is no annual fee to use this card. There’s also no fee for balance transfers. Foreign transactions cost 2.7% of the total transaction amount. Cash advances cost the greater of $5 or 3% of the total amount, while late and returned payments cost up to $38 each.

The Amex EveryDay card comes with some useful shopping benefits, including reimbursement (up to $300 per item) for returns rejected by the merchant within 90 days of purchase; extended warranty coverage on all items with original warranties lasting less than five years; and purchase protection against accidental damage and theft for 90 days from purchase date.

In addition to the Double Membership Rewards deal explained above, Amex EveryDay’s travel benefits include 24/7 roadside assistance for all cardholders; 24/7 global assistance for cardholders traveling more than 100 miles from home; and complimentary car rental insurance against loss and damage.

This card requires excellent credit.

When you step back and look at its structure, the points-based Membership Rewards system on The Amex EveryDay® Credit Card from American Express isn’t that different from Chase’s Ultimate Rewards scheme, which underpins cash back cards such as Chase Freedom and travel rewards cards such as Chase Sapphire Preferred. Like Ultimate Rewards, Membership Rewards lets you redeem your accumulated points for a wide range of merchandise, travel, and cash equivalents, including gift cards and statement credits.

But one simple difference makes Membership Rewards seem a lot more complicated: Point values vary according to redemption method, with some merchandise commanding $0.01 per point and other options stuck with just $0.005 per point. By contrast, Ultimate Rewards redemptions are almost always worth $0.01 per point, with the extremely well-publicized exception of travel bookings ($0.0125). In a loud, confusing world, never underestimate the power of simplicity.

Learn more about this card and find out how you can apply here.

Updated: October 1, 2018

The Amex EveryDay® Credit Card from American Express is a great general-purpose, entry-level credit card for frugal to moderate spenders who crave a versatile rewards program that lets them redeem earned points for virtually anything. Thanks to a solid balance transfer promotion, it’s also a good option for people with existing high-interest credit card balances. However, if you’re looking for an extremely generous rewards program or one with favorable point values for statement credit redemptions, you need to look elsewhere.

No annual fee or balance transfer fee, great intro purchase and balance transfer APR promotion, double point earnings on travel bookings, and somewhat relaxed credit standards are key benefits. Confusing points system, potentially low point values at redemption, mediocre welcome offer, and foreign transaction fees are problematic. Overall, a good first American Express card for people who like versatile rewards.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Categories: American Express, Credit and Debt, Credit Cards, Reviews

Brian Martucci writes about frugal living, entrepreneurship, and innovative ideas. When he’s not interviewing small business owners or investigating time- and money-saving strategies for Money Crashers readers, he’s probably out exploring a new trail or sampling a novel cuisine. Find him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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The Amex EveryDay® Credit Card from American Express – Review

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