The Amex EveryDay® Credit Card from American Express is an excellent choice for individuals looking to start earning Membership Rewards points without incurring an annual fee. This no-frills rewards card offers a straightforward earning structure, with the potential to maximize your point accumulation through a unique bonus feature. In this comprehensive review, we’ll delve into the card’s benefits, drawbacks, and how it compares to other popular rewards credit cards.
Amex EveryDay Credit Card: The Basics
The Amex EveryDay® Credit Card is designed for everyday spenders who want to earn Membership Rewards points without the commitment of an annual fee. Here are the key features of this card:
Welcome Bonus and Earnings
- Welcome Offer: Earn 10,000 Membership Rewards points after spending $2,000 on eligible purchases within the first 6 months of card membership.
- Earning Structure:
- 2X points at U.S. supermarkets (up to $6,000 per year, then 1X)
- 2X points on prepaid rental car bookings through AmexTravel.com
- 1X points on all other eligible purchases
- 20% Bonus: Use your card 20 or more times in a billing period to earn 20% more points on those purchases (less returns and credits).
Other Key Features
- No annual fee
- 0% intro APR on purchases and balance transfers for 15 months (then a variable APR of 18.24% – 29.24% applies)
- Access to Amex Offers for additional savings and bonus points
- Car rental insurance and other travel protections
READ ALSO: Utilize the Power of the Amex Business Platinum Card: 18 Benefits of Adding Authorized Users
Maximizing Your Rewards with the EveryDay Card
The true power of the Amex EveryDay® Credit Card lies in its ability to earn bonus points through strategic spending and usage. Here are some tips to help you maximize your rewards:
Tip 1: Leverage the 20% Bonus
One of the standout features of the Amex EveryDay® Credit Card is the 20% bonus on all points earned during billing periods when you make 20 or more purchases. This effectively increases your earning rate to 2.4X points at U.S. supermarkets (on up to $6,000 per year) and 1.2X points on all other eligible purchases. To maximize this benefit, make a conscious effort to use your card for as many transactions as possible, even small ones.
Tip 2: Maximize Supermarket Spending
With a generous 2X points earning rate at U.S. supermarkets (up to $6,000 per year), the Amex EveryDay® Credit Card is an excellent choice for families or individuals who spend a significant portion of their budget on groceries. By maxing out this category and earning the 20% bonus, you can earn up to 14,400 Membership Rewards points annually from supermarket purchases alone.
Tip 3: Utilize Amex Offers
American Express is known for its Amex Offers program, which provides cardholders with opportunities to earn bonus points or receive discounts on purchases from participating merchants. Be sure to regularly check your account for new offers and take advantage of those that align with your spending habits.
Redeeming Membership Rewards Points
One of the biggest advantages of the Amex EveryDay® Credit Card is its ability to earn Membership Rewards points, which can be redeemed in a variety of ways. Here are some of the most valuable redemption options:
Transfer to Travel Partners
Transferring your Membership Rewards points to one of American Express’s travel partners, such as Delta Air Lines, Marriott Bonvoy, or Hilton Honors, can yield tremendous value. Many of these transfers are at a 1:1 ratio, and you can potentially score free flights or hotel stays by strategically leveraging these partnerships.
Book Travel Through Amex Travel
Booking flights, hotels, and other travel experiences through Amex Travel allows you to redeem your Membership Rewards points at a rate of approximately 1 cent per point. While not as valuable as transferring to partners, this option can provide flexibility and convenience.
Gift Cards and Statement Credits
While generally less valuable, you can also redeem your Membership Rewards points for gift cards or statement credits. These options typically yield a value of around 0.6 to 0.7 cents per point, making them less appealing than travel redemptions.
Amex EveryDay Credit Card: Pros and Cons
Like any credit card, the Amex EveryDay® Credit Card has its strengths and weaknesses. Here’s a quick overview:
Pros
- No annual fee
- Ability to earn Membership Rewards points
- 20% bonus on points earned with 20+ transactions per billing cycle
- 2X points at U.S. supermarkets (up to $6,000 per year)
- 0% intro APR on purchases and balance transfers for 15 months
Cons
- $6,000 annual spending cap on the 2X supermarket category
- 2.7% foreign transaction fee
- Lack of travel perks and benefits compared to premium Amex cards
- Lower point value for non-travel redemptions
Comparing the EveryDay Card to Other Rewards Cards
To better understand the value proposition of the Amex EveryDay® Credit Card, it’s helpful to compare it to other popular rewards credit cards on the market.
Amex EveryDay vs. Chase Freedom Unlimited®
The Chase Freedom Unlimited® offers a simple and straightforward earning structure: 5% cash back on travel purchased through Chase, 3% on dining and drugstores, and 1.5% on all other purchases. While Freedom Unlimited doesn’t offer bonus categories for supermarket purchases, its higher overall earning rate and lack of spending caps make it a solid alternative for those who prefer cash back over travel rewards.
Amex EveryDay vs. Citi® Double Cash Card
The Citi® Double Cash Card is a no-annual-fee cash-back card that earns 2% back on all purchases – 1% when you buy and 1% when you pay your bill. For those who prioritize simplicity and don’t want to juggle bonus categories, the Citi Double Cash can be a more straightforward option than the Amex EveryDay.
Amex EveryDay vs. Amex EveryDay® Preferred Credit Card
For those willing to pay an annual fee of $95, the Amex EveryDay® Preferred Credit Card offers a more generous earning structure and bonus potential. This card earns 3X points at U.S. supermarkets (up to $6,000 per year), 2X points at U.S. gas stations, and 1X points on other purchases. Additionally, you can earn a 50% bonus on all points earned after making 30 or more purchases in a billing cycle.
While the EveryDay Preferred requires an annual fee, its higher earning rates and potential for a larger bonus can make it more rewarding for frequent spenders, especially at supermarkets and gas stations.
Conclusion: Is the Amex EveryDay Credit Card Right for You?
The Amex EveryDay® Credit Card is an excellent choice for individuals seeking to dip their toes into the world of travel rewards without incurring an annual fee. Its 2X earning rate at U.S. supermarkets, combined with the potential for a 20% bonus on all points earned, makes it an attractive option for families and frequent grocery shoppers.
However, it’s important to recognize the card’s limitations, such as the $6,000 annual spending cap on the supermarket category and the lack of travel perks and benefits compared to premium Amex cards. For those who frequently travel or have more diverse spending habits, a more comprehensive travel rewards card may be a better fit.
Ultimately, the Amex EveryDay® Credit Card shines as a complementary card in a well-rounded credit card strategy. By pairing it with other cards that offer strong earning rates in different categories, you can maximize your overall rewards earnings and redeem your Membership Rewards points for unforgettable travel experiences.
Frequently Asked Questions
What credit score is needed for the Amex EveryDay Card?
American Express typically requires a good to excellent credit score, generally defined as a FICO score of 670 or higher, for approval on the Amex EveryDay® Credit Card.
Do Amex Membership Rewards points expire?
No, Membership Rewards points do not expire as long as you keep at least one Membership Rewards-earning American Express card open and active.
Can I transfer Membership Rewards points to airline and hotel partners?
Yes, one of the most valuable ways to redeem Membership Rewards points is by transferring them to American Express’s travel partners, which include airlines like Delta Air Lines, Singapore Airlines, and British Airways, as well as hotel programs like Marriott Bonvoy and Hilton Honors.
Is there a foreign transaction fee on the Amex EveryDay Card?
Yes, the Amex EveryDay® Credit Card charges a foreign transaction fee of 2.7% on purchases made outside of the United States. This fee can add up quickly for frequent international travelers.
Can I product change to a different Amex card later?
Absolutely. American Express allows cardholders to product change, or upgrade, to a different card within their portfolio. This can be a useful strategy if your spending habits or travel needs change over time, and you want to take advantage of a card with different benefits or earning structures.
