The American Express EveryDay® Preferred Credit Card is a great option if you’re drawn to the generous rewards benefits of American Express but balk at the high annual fee of some of the company’s other premium credit cards. This card offers a 0% intro APR on purchases and balance transfers for 12 months and bonus points for purchases at supermarkets and gas stations.
This card is a good fit for applicants with good-to-excellent credit who are looking for a card to finance everyday purchases and isn’t restricted to U.S. citizens alone. If you’re a newcomer to the U.S., you can apply for the EveryDay® Preferred Credit Card using your international credit history. Read more below about the benefits and fees associated with this popular card, and what you need to know before you apply.
Amex EveryDay® Preferred Credit Card fees
The Amex EveryDay® Preferred Credit Card has an annual fee of $95. While you’ll benefit from a 0% intro APR on purchases and balance transfers for 12 months, after that you’ll have a variable APR depending your credit history, income and other factors.
Note that not all the perks are fee-free: Amex charges a balance transfer fee on all transfers, which is set at 3% (minimum $5).
Other fees associated with the EveryDay Preferred Card cab include a late fee of up to $40, a penalty APR of up to 29.99%. The good news? You have 25 days after the close of each billing period to avoid interest on your balance.
The cash advance APR IS 26.24% and Amex charges a 5% (minimum $10) fee for each cash advance withdrawal. If you spend abroad or make non-USD purchases, Amex will charge a foreign transaction fee of 2.7%.
American Express EveryDay Preferred Card benefits
There are two main aspects to the sign-up bonus on the Amex EveryDay® Preferred Credit Card that appeal to potential applicants.
The first is the 0% introductory APR on purchases and balance transfers. You won’t have to worry about incurring interest on your spending during your first 12 months as a cardholder.
You can transfer balances from other credit cards onto the Amex EveryDay Preferred card, while paying 0% APR for 12 months on the new balance if it is transferred within the first 60 days. The intro APR offer on balance transfers may help eliminate existing credit card debt and save money on interest rates you owe on any of your current cards.
Such an offer can lead to significant savings for cardholders. If you’re thinking about making major purchases to furnish an apartment, for example, a card with a 0% APR will allow you to pay them off in 12 months without accumulating any interest.
The second most attractive part of the welcome offer is the 15,000 membership rewards points, which are provided to the cardholder should they spend $1,000 or more during the first three months of having the EveryDay Preferred card.
Experts estimate that Amex membership rewards points have a value of anywhere from $0.005 to $0.01, which means that 15,000 rewards points translate to $75 to $150 in rewards. The exact number depends on how you redeem those rewards points because Amex offers several options through its app and website. Members have the option of redeeming their rewards as statement credits, gift cards, discounts on online shopping at stores like Amazon or Best Buy, transfers to frequent flyer programs and more.
The welcome offer takes care of the annual fee for the first year, as it is easy enough to earn enough rewards from the welcome bonus to erase the $95 fee, and come out ahead.
Bonus rewards points at supermarkets and gas stations
The Amex EveryDay® Preferred Credit Card also provides bonus points for spending at U.S. gas stations and supermarkets. Cardholders earn 3x bonus membership rewards points when they spend money at grocery stores up to a limit of $6,000 spending per year. Amex does not, unfortunately, include all supermarkets within the 3x points offer; Target and Walmart in particular are not participating stores. Cardholders can, however, do their research to ensure they are only using the card at stores where they get extra rewards points.
At gas stations, you’ll earn 2x membership rewards points, but gas purchased at superstores, supermarkets and warehouse clubs that sell gasoline is not covered by the rewards programs.
Every other purchase provides 1x membership rewards points for each dollar spent.
Frequent use bonus points
The American Express EveryDay Preferred Credit Card encourages cardholders to use it as often as possible. The company offers 50% extra points over each billing period if you use the card 30 or more times. If you combine the 50% bonus with the bonuses for U.S. supermarkets and U.S. gas stations, you can rack up a lot of membership rewards points without much effort.
Since every billing period is a month, it means having to use the EveryDay Preferred Credit Card daily to make use of the benefit. It is a significant perk, though, as 50% bonus points can add up over the year.
The EveryDay Preferred Credit Card isn’t the best card for frequent travelers, but it does offer some travel perks for cardholders. These perks include 2x membership rewards points on all travel purchases including airline tickets, prepaid hotel packages, vacation packages, cruises, and more made at AmexTravel.com.
Insurance coverage is available for car rentals, which means that cardholder don’t need to purchase expensive insurance coverage from car rental companies when they travel around the world. The coverage includes collision and damage insurance, but it is not available in Australia, Italy and New Zealand.
Amex also allows EveryDay Preferred cardholders to access the Global Assist Hotline which provides 24/7 emergency roadside assistance hotline for help with legal, financial, or travel-related matters when they are 100 miles or further away from home.
Travelers can also transfer their Amex rewards points to frequent flyer programs from airlines such as Delta, Emirates, and more. If you are a member of Delta Skymiles, JetBlue TrueBlue, American Airlines AAdvantage, or Southwest Rapid Rewards, you may prefer to use points earned on the EveryDay Preferred Card through those programs.
One of the most significant shopping advantages of the EveryDay Preferred Credit Card is the free membership to Shoprunner. It is a free two-day shipping program that partners with more than 100 online stores.
Amex cardholders also have return protection when they make purchases. If you buy an item with a value of up to $300, and the merchant does not take it back, you can return it through Amex for up to 90 days. The purchase protection is available for up to $1,000 for the year.
There is also fraud protection on the EveryDay Preferred card. If you suspect that activity on your Amex card is not from purchases you made, you won’t be liable for any fraudulent charges.
Is the EveryDay card right for you?
If you’re hoping to save money on existing credit card debt, you can benefit from the EveryDay Preferred Card significantly. Not having to pay interest on credit card debt for 12 months can lead to significant savings.
Cardholders who spend large amounts regularly on supermarkets and gas stations will see great value with the EveryDay Preferred Credit Card. An individual who spends $6,000 at U.S. supermarkets every year, an additional $6,000 at gas stations, and uses their card 30 times each billing period would net the following bonuses:
- An initial 18,000 bonus points for the supermarket purchases.
- An initial 12,000 bonus points for the gas station purchases.
- A 50% bonus on each of those points, resulting in 45,000 bonus points on $12,000 spending.
With each bonus point having a value of $0.005 to $0.01, that kind of spending would result in $225 to $450 rewards on $12,000 spent, or 3.75% cashback.
If you frequently shop online you may also appreciate the free Shoprunner subscription, as it can help you save significantly on two-day shipping at major retailers.
Why you may want to avoid the Amex EveryDay card
Infrequent shoppers won’t tap into the full range of benefits that come with the Amex EveryDay® Preferred Credit Card. If you only shop 1-2 times per week, then you may have a very hard time reaching the 30+ uses per billing period to trigger the 50% bonus on membership rewards points.
That also applies for individuals who shop at U.S. supermarkets not included on Amex’s list. While it is possible to adjust your shopping routine, not everyone wants to shop at stores different from the ones they prefer.
A fee on foreign transactions is another negative, especially for individuals who often travel outside the U.S. It is also unfortunate that 2x bonus points on airfare and other travel spending are limited to AmexTravel.com. If cardholders see a better deal on another website, they cannot earn those bonus points.
The Amex EveryDay® Preferred Credit Card offers great bonus points for supermarket and gas station purchases, while keeping many of the perks that members love from the standard EveryDay credit card.
Individuals who spend money at Amex-approved supermarkets, grocery stores, and gas stations, buy plane tickets or hotel stays through AmexTravel.com and plan to use their card 30+ times a month should have no problem earning a significant amount of rewards every year.
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