Amex EveryDay Card Review
The American Express EveryDay card is designed for everyday spending. This review explores the card's rewards structure, annual fees, and how it caters to individuals looking to earn rewards on their daily purchases.
The American Express EveryDay Credit Card is a versatile rewards credit card designed for individuals who want to earn points on their everyday spending. Here's a review of the American Express EveryDay Card:
Pros:
Membership Rewards Points: The EveryDay Card allows you to earn Membership Rewards points on your purchases. You'll earn 2X points at U.S. supermarkets on up to $6,000 per year in purchases (then 1X), 2X points at U.S. gas stations, and 1X point on all other purchases.
Welcome Offer: American Express often provides a welcome bonus for new cardmembers who meet the minimum spending requirement in the first few months. This bonus can significantly boost your points balance.
No Annual Fee: The EveryDay Card does not charge an annual fee, which means you can accumulate points without incurring additional costs.
0% APR Introductory Offer: The card typically comes with an introductory 0% APR on purchases and balance transfers for a specified period, which can be helpful for financing large purchases or consolidating high-interest debt.
Amex Offers: American Express frequently provides cardholders with special offers and discounts at various merchants, including dining, retail, and travel.
Travel Benefits: While it's not a travel rewards card, the EveryDay Card offers travel benefits like car rental loss and damage insurance and a global assist hotline.
Cons:
Foreign Transaction Fees: The EveryDay Card charges foreign transaction fees, which may not be suitable for international travelers or making purchases in foreign currencies.
Reward Caps: The 2X points at U.S. supermarkets is limited to the first $6,000 in annual purchases (then it drops to 1X). If you spend more than this on groceries, you may not maximize your rewards in this category.
Credit Requirement: The EveryDay Card may require a good to excellent credit score for approval.
Reward Redemption Options: While you can earn points, the redemption options may be limited compared to some other rewards programs. You can use the points for travel, gift cards, merchandise, or statement credits, but their value can vary depending on the option chosen.
In summary, the American Express EveryDay Credit Card is a versatile option for earning Membership Rewards points on everyday spending. The 2X points at U.S. supermarkets and U.S. gas stations are attractive, and the welcome bonus and lack of an annual fee make it appealing for those who want to earn points without additional costs. However, the foreign transaction fees and reward caps should be considered in light of your specific spending habits and financial goals.
A comprehensive analysis of the American Express EveryDay card's features and benefits..
The American Express EveryDay® Card is a cash back credit card that offers a simple and straightforward rewards program. It offers a number of features and benefits, including:
- 2% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). This is a good cash back rate for supermarket purchases, especially for a card with no annual fee.
- 1% cash back on all other eligible purchases. This means that you can earn cash back on all of your spending, not just your supermarket purchases.
- $100 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. This is a valuable welcome bonus that can help you offset the annual fee.
- No annual fee. This makes the card even more valuable, as you can earn rewards without having to pay an annual fee.
- Extended warranty. This feature extends the manufacturer's warranty on eligible purchases by up to one year.
- Purchase protection. This feature covers your purchases against theft and damage for up to 90 days after purchase.
- Return protection. This feature allows you to return eligible purchases for up to 90 days after purchase, even if the store does not accept returns.
- American Express® Experiences. This program gives you access to exclusive events and experiences, such as concerts, sporting events, and Broadway shows.
Here is a more detailed analysis of the American Express EveryDay® Card:
Pros:
- 2% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) is a good cash back rate for supermarket purchases, especially for a card with no annual fee.
- 1% cash back on all other eligible purchases means that you can earn cash back on all of your spending.
- $100 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months is a valuable welcome bonus.
- No annual fee makes the card even more valuable.
- Extended warranty feature extends the manufacturer's warranty on eligible purchases by up to one year.
- Purchase protection feature covers your purchases against theft and damage for up to 90 days after purchase.
- Return protection feature allows you to return eligible purchases for up to 90 days after purchase, even if the store does not accept returns.
- American Express® Experiences program gives you access to exclusive events and experiences.
Cons:
- 2% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) is only available on up to $6,000 in purchases per year.
- Regular APR of 17.99%-28.99% Variable APR is relatively high, so it is important to pay your balance in full each month to avoid paying interest.
- Balance transfer fee of 3% is relatively high.
- Foreign transaction fee of 2.70% is relatively high.
Overall, the American Express EveryDay® Card is a good option for people who want a simple and straightforward cash back credit card with no annual fee. It offers a good cash back rate on supermarket purchases, a welcome bonus, extended warranty, purchase protection, return protection, and access to exclusive events and experiences through the American Express® Experiences program. However, it is important to be aware of the high regular APR, balance transfer fee, and foreign transaction fee.
Here are some tips for using the American Express EveryDay® Card effectively:
- Pay your balance in full each month to avoid paying interest.
- Use the card for your supermarket purchases to earn the highest cash back rate.
- Take advantage of the welcome bonus by spending $1,000 in purchases on your new Card within the first 3 months.
- Use the extended warranty, purchase protection, and return protection features to save money and protect your purchases.
- Consider using the American Express® Experiences program to access exclusive events and experiences.
- Be aware of the high regular APR, balance transfer fee, and foreign transaction fee.
If you are considering opening an American Express EveryDay® Card, be sure to read the terms and conditions carefully to understand all of the fees and interest rates associated with the card.