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Quick Review
The Amex EveryDay® Preferred card is designed to earn you rewards on your most common purchases, and also offers some decent travel benefits for the occasional traveler. Here’s what we like the most (and least) about this card:
- Easy-but-low rewards: With 2x–3x points on groceries, gas, and select travel, you can easily rack up points without having to think too much about it. You’ll also earn 50% more rewards points when you make at least 30 purchases in a statement period—boosting rewards for higher spenders, but also potentially encouraging unnecessary purchases. However, the 3x category is capped, and the rewards are comparatively low for a card that charges an annual fee.
- 12 months of 0% APR: No interest will be applied on purchases or balance transfers for the first 12 months after account opening. That’s a pretty good deal if you want to consolidate a relatively insubstantial credit card debt or have your eyes on a pricey purchase that you want to pay off over time.
- Potentially high APR: Standard purchase and balance APR runs from 16.74%–26.74% (variable). Missed payments can also trigger a 29.99% penalty APR for six months at a time. All said, this isn’t a great card to carry a balance on past the intro period.
- Some benefits: From car rental insurance and return protection to a complimentary ShopRunner membership, this card has a little of everything. The keyword here is little—this card isn’t optimized for travel or dining, so its perks are limited compared to specialized rewards cards, especially in the Amex network.
For a $95 annual fee, you can likely find higher-earning cards with better benefits and a more generous welcome bonus.
Amex EveryDay® Preferred Pros & Cons
Amex EveryDay® Preferred Important Details
- Annual fee: $95
- Purchase APR: 16.74%–26.74% (variable)
- Rewards rate: 1x–3x points
- Welcome bonus: 15,000 Membership Rewards points when you spend $2,000 in first 6 months
Amex EveryDay® Preferred Rates & Fees
Fees
- Annual fee: $95
- Balance transfer fee: $5 or 3% of transfer amount (whichever is greater)
- Cash advance fee: $10 or 5% of each cash advance (whichever is greater)
- Foreign transaction fee: 2.7%
- Late payment fee: $40
Interest Rates
- Purchase APR: 16.74%–26.74% (variable)
- Intro purchase APR: 0% for 12 months
- Intro balance transfer APR: 0% APR for 12 months on balances transferred within 60 days of account opening
- Balance transfer APR: 16.74%–26.74% (variable)
- Cash advance APR: 28.99% (variable)
- Penalty APR: 29.99% (variable)
Amex EveryDay® Preferred Rewards
The Amex EveryDay® Preferred card lets you earn points per dollar on your purchases in four categories:
- 3x points at supermarkets (up to $6,000/year, then 1 point per dollar)
- 2x points on gas at US gas stations
- 2x points on travel booked online through American Express Travel
- 1x on all other purchases
The 3x point category excludes superstores and warehouse clubs, and convenience stores. Additionally, you will not receive 2x points at supermarkets, superstores, and warehouse clubs that sell gas.
When you make 30 or more purchases with your Amex EveryDay® Preferred card in a single billing period, you’ll earn 50% more points on those purchases.
To earn back that $95 annual fee, you would need to spend the following amounts in a single category:
- Groceries: $3,200
- Gas or travel: $4,800
- Other purchases: $9,500
The problem with these rates is that they’re on par with the kind of rewards you can find in many credit cards without annual fees. All-in-all, the limited categories, rewards caps, and $95 annual fee mean you won’t be earning that much money back year after year.
Rewards Redemption
You can redeem your Membership Rewards points in the following ways:
- Apply statement credits to your balance
- Pay with points at checkout with select retailers
- Redeem points for gift cards
- Purchase eligible travel through American Express Travel
- Upgrade airline tickets
- Shop with points online through the Membership Rewards marketplace
- Transfer points to American Express airline and hotel partner programs
Point value will vary depending on your method of redemption, individual retailers or partners, etc. and some methods may be subject to redemption thresholds. You can find more information about point values and thresholds through American Express Membership Rewards.
Welcome Bonus
If you charge $2,000 in eligible purchases to your Amex EveryDay® Preferred card in your first 6 months after account opening, you’ll earn a welcome bonus of 15,000 Membership Rewards points.
That’s a bonus worth roughly $150. Like with the rewards, this is a low rate compared to other cards that charge similar annual fees. The welcome bonus amount is easily comparable to those on cards with no annual fee at all.
Amex EveryDay® Preferred Benefits
Pay It Plan It
Like many American Express cards, the Amex EveryDay® Preferred card participates in Pay It Plan It. Pay It Plan It comprises two payment features offered by American Express:
- Pay It: Make payments of $100 or less to your balance via the American Express mobile app.
- Plan It: Pay off purchases of at least $100 over time with an installment plan.
For plans originated in the first 12 months after you open your Amex EveryDay® Preferred card account, you won’t pay any plan fees. After the intro period ends, you’ll pay a flat monthly fee of up to 1.33% of the amount of your purchase(s).
Travel Benefits
The Amex EveryDay® Preferred card offers a handful of travel benefits:
- Car rental loss/damage insurance: When you charge the full cost of your rental vehicle to your Amex EveryDay® Preferred card and decline the rental company’s damage waiver, you can be covered for damage or theft of your vehicle.
- Global Assist Hotline: Receive emergency and other travel assistance on trips over 100 miles from your home.
- Destination Family: Enjoy special amenities, like free meals or stays for your kids, when you book your family vacation through Destination Family.
- Lowest Hotel Rates Guarantee: If you find a better rate after you book a hotel through American Express Travel, you’ll be reimbursed for the difference.
You’ll also get access to presale tickets to entertainment and sporting events through the following American Express programs:
- American Express Access
- American Express Early Access
- American Express Experiences
- Cardmember Performances
Other Benefits
The Amex EveryDay® Preferred card also comes with some miscellaneous benefits:
- Return protection: If a seller won’t accept a return in the 90 days following your purchase, you can return the (eligible) item to American Express.
- Extended warranties: Extend eligible manufacturer’s warranties by an additional year.
- ShopRunner Membership: Opt in to receive a free ShopRunner membership.
- American Express Auto Purchasing Program: You can use your Amex EveryDay® Preferred card to put up to $2,000 down on a new or used vehicle through the American Express Auto Purchasing Program. You’ll also receive special benefits through the program when you report your purchase.
- Send & Split: Send money and split payments with Venmo and PayPal users using the American Express mobile app.
- Amex Offers: Activate special discounts and deals with select merchants through Amex Offers.
Cash Advances
You can use your Amex EveryDay® Preferred card to take out cash advances. However, with 28.99% APR and a fee of either $10 or 5% of each cash advance (whichever is greater), it would be an expensive choice. We recommend only using this feature in case of emergency.
Balance Transfers
For balances transferred in the first 60 days after account opening, the Amex EveryDay® Preferred card offers 0% APR for 12 months. Afterward, balances transferred will be subject to 16.74%–26.74% (variable) APR.
No matter when you transfer a balance, you’ll be charged a fee of either $5 or 3% of the amount, whichever is greater.
You can request two balance transfers in total. Balance transfers you request must meet the following requirements:
- Only up to four accounts per transfer
- Accounts cannot be issued by American Express or any affiliates
- Transfer requests must be more than $100 and at most $7,500
Authorized Users
Cardholders can request cards for authorized users on their Amex EveryDay® Preferred card account at no extra charge. However, authorized users must be at least 13 years old and must never have had an American Express account in default.
Credit Reporting
American Express will report the activity on your Amex EveryDay® Preferred card to TransUnion, Equifax, and Experian each month. This information will be used to update your credit reports and corresponding credit scores.
Customer Service
You can contact American Express customer service through the following phone numbers:
Customer service:
(800) 528-4800
Card application:
(888) 297-1244
Check application status of new account:
(877) 239-3491
Should You Get the Amex EveryDay® Preferred?
FinanceJar verdict
The Amex EveryDay® Preferred card isn’t our first choice of rewards cards. The $95 annual fee should be justified by high rewards and a welcome bonus to match. Unfortunately, the relatively low rewards rates, 3x category rewards cap, and underwhelming welcome bonus don’t make the fee worth it when you can find comparable rewards cards with no fee, or higher-earning Amex cards.
Comparable Cards
Here’s a look at how the Amex EveryDay® Preferred card stacks up against similar cards.
