Amex EveryDay® Credit Card Review: An Everyday Card with Rewards Potential
The Amex EveryDay® Credit Card is an entry-level rewards card that promises no annual fees and a unique rewards structure, especially beneficial for supermarket purchases.
Amex EveryDay® Credit Card Overview
Annual Fee: $0
Rewards Rate:
- 2X Membership Rewards points at U.S. supermarkets (up to $6,000 per year, then 1X)
- 1X Membership Rewards points on all other purchases
Welcome Offer: Earn 10,000 Membership Rewards® Points after spending $2,000 in purchases within the first 6 months.
Intro APR: 0% on purchases for 15 months, then a variable APR of 17.99% – 28.99%.
Foreign Transaction Fee: 2.7%
Recommended Credit Score: 690-850 (Good – Excellent)
Detailed Review
The Rewards Structure
The Amex EveryDay® Credit Card offers:
- 2 Membership Rewards points per dollar spent at U.S. supermarkets (up to $6,000 per year, then 1 point per dollar).
- 2 points per dollar on eligible travel purchases booked through amextravel.com.
- 1 point per dollar on all other purchases.
- A 20% points bonus for each billing period in which you use the card at least 20 times.
Table: Rewards Comparison with Competitors
| Card | Supermarket Rewards | Travel Rewards | Other Purchases | Annual Fee |
|---|---|---|---|---|
| Amex EveryDay® | 2X (up to $6,000/yr) | 2X (booked via AmEx) | 1X | $0 |
| Blue Cash Everyday® | 3% | N/A | 1% | $0 |
| Chase Sapphire Preferred® | 1X | 2X (travel, dining) | 1X | $95 |
| Capital One SavorOne® | 3% | 3% (dining, streaming) | 1% | $0 |
Pros and Cons
Pros
- No Annual Fee: A significant advantage for those who want to avoid yearly charges.
- Decent Rewards Rate: Especially at supermarkets.
- 20% Bonus: For using the card frequently.
Cons
- Foreign Transaction Fee: Not ideal for international travel.
- Basic Rewards Structure: Higher rewards are available elsewhere.
- Limited High-Earning Categories: Supermarket rewards cap at $6,000 annually.
Benefits and Perks
Welcome Offer: The card offers a modest sign-up bonus, which can be beneficial for new users looking to start earning points quickly.
0% Intro APR: This is available for purchases for 15 months, which can be useful for financing larger purchases over time.
AmEx Membership Rewards: Points can be redeemed for travel, cash, gift cards, and more. They can also be transferred to loyalty programs of partner airlines and hotel chains.
Instant Card Numbers: Use the card immediately upon approval with eligible digital wallets.
Pay It and Plan It®: Flexible payment options for smaller and larger purchases.
Send and Split™: Use the AmEx app to split bills and pay friends directly.
Lower Hotel Rates Guarantee: AmEx refunds the difference if you book a hotel through amextravel.com and find a lower price elsewhere.
Drawbacks and Considerations
Better Bonuses and Rewards Elsewhere
- Wells Fargo Active Cash® Card: Offers 2% cash back on all purchases with no annual fee and a better sign-up offer.
- Blue Cash Everyday® Card from American Express: Offers 3% cash back at U.S. supermarkets, making it more rewarding for grocery spenders.
Travel Rewards Comparison
- Chase Sapphire Preferred® Card: Offers higher rewards on travel and dining, along with other travel-related perks.
- Capital One Venture Rewards Credit Card: Provides flexible travel rewards with no foreign transaction fees.
The Bottom Line
The Amex EveryDay® Credit Card is a solid entry-level rewards card with no annual fee and decent rewards for supermarket purchases. However, if you’re looking for higher rewards rates, travel benefits, or no foreign transaction fees, other cards like the Chase Sapphire Preferred® or Capital One Venture Rewards may be more suitable.
FAQ
Q: What is the annual fee for the Amex EveryDay® Credit Card?
A: The Amex EveryDay® Credit Card has no annual fee.
Q: How do the rewards work for supermarket purchases?
A: You earn 2X Membership Rewards points at U.S. supermarkets on up to $6,000 per year in purchases. After that, you earn 1X points.
Q: What is the welcome offer for new cardholders?
A: New cardholders can earn 10,000 Membership Rewards points after spending $2,000 in purchases within the first 6 months.
Q: Are there any foreign transaction fees?
A: Yes, there is a foreign transaction fee of 2.7% for each transaction.
Q: Can I use the card immediately after approval?
A: Yes, American Express offers instant card numbers that can be used immediately with eligible digital wallets.
