Unlocking Rewards: Amex EveryDay Preferred Credit Card Review

The Amex EveryDay Preferred Credit Card is designed for regular, everyday use, rewarding cardholders with points for their spending habits. With 3 points per dollar at U.S. supermarkets, 2 points per dollar on U.S. gas stations and eligible travel purchases, and 1 point per dollar on other eligible purchases, this card offers a generous rewards program. Additionally, cardholders can earn a 50% bonus on all points earned in a billing cycle if the card is used more than 30 times in that period.

Amex EveryDay Preferred Credit Card Overview

• Annual Fee: $95
• Welcome Bonus: 15,000 points
• Regular APR: 18.24% - 28.24% variable
• Credit Score Requirement: Good/Excellent

Pros:

• Flexible rewards program with a wide variety of redemption categories
• Low spending requirement to earn the welcome bonus
• 50% bonus points each month when the card is used 30+ times
• Return protection

Cons:

• Foreign transaction fee of 2.7%
• High penalty APR
• Mediocre base rewards rate if the bonus is not utilized

Rewards Program

The Amex EveryDay Preferred Credit Card* allows cardholders to earn points on their everyday purchases:

• 3 points per dollar at U.S. supermarkets (up to $6,000 per year, then 1 point per dollar)
• 2 points per dollar on U.S. gas stations and eligible travel purchases
• 1 point per dollar on other eligible purchases

Additionally, cardholders can earn a 50% bonus on all points earned in a billing cycle if the card is used more than 30 times in that period.

Welcome Bonus

New cardholders can earn 15,000 Membership Rewards points after spending $2,000 in purchases within the first 6 months of account opening.

Redeeming Rewards

Membership Rewards points can be redeemed in various ways, including:

• Paying with points for travel on AmexTravel.com
• Transferring points to over a dozen frequent flier or guest programs
• Redeeming points for gift cards to a variety of retailers
• Using points for charges on the card

It's important to note that using Membership Rewards points for transfers to partner travel programs typically offers the most value.

Rewards Potential

Based on our calculations, an average household could earn significant rewards with this card:

• 3 points per dollar at U.S. supermarkets (up to $6,000 per year): 4.5 points per dollar with the 50% bonus
• 2 points per dollar on U.S. gas stations and eligible travel purchases
• 1 point per dollar on other eligible purchases

For example, a household spending $6,692 on groceries each year could earn approximately 74,569 Membership Rewards points. These points could be used for $745 in gift cards or travel rewards.

Additional Benefits

• Car rental loss and damage insurance
• Pay It Plan It program for alternate payment methods
• Global Assist Hotline for emergency assistance
• Return protection
• Amex Send & Split for splitting purchases with Venmo and Paypal users
• Fraud protection

Fine Print

• Regular APR: 18.24% - 28.24% variable
• Purchase intro APR: 0% intro APR on purchases for 12 months
• Balance transfer intro APR: 0% intro APR for the first 12 months
• Annual fee: $95
• Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater
• Foreign purchase transaction fee: 2.7% of each transaction after conversion to US dollars

Should you require any further information, please do not hesitate to drop us a line in the comment section below. Alternatively, you can also tweet us by clicking the icon below.

Thanks for reading!

Follow @ChargePlate_in