The card that comes with a low cash back effective rate.
This card is kind of strange. Well, it comes with no fee that you’re expected to pay each year for the privilege of using it and it offers you rewards in terms of travelling. It means that it can fit the needs of those who like to travel. At the same time, it’s not like this card is really good for travelling. If you search a bit more, you’ll find out that there are lots of travel rewards cards that are more beneficial. The card allows you to earn rewards for purchases made at the US supermarkets. Still, the fact is that you can get significantly more rewards when using a different card to buy the things you need at grocery stores. There are some other AMEX cards that are also better in terms of the rewards you get when buying something with them at grocery stores.
You may have already guessed that the card is advantageous as long as you use it everyday. This is what it’s meant for. However, in this respect we also have something to add. There are other such like credit cards available at the market. These cards, again, turn out to be more beneficial.
General information on the card
- A relatively high rewards rate.
- No fee to pay each year for using the card.
- No interest to pay for the purchases made and balance transfer operations carried out for the first 12 months.
- No annual fee to pay.
- Standard APR amounts to 13.99 – 23.99%. Pay attention to the fact that the APR may vary. It depends on your creditworthiness. Cash Advance APR amounts to 26.24%, but5 may also be a subject to changes. There is also a Penalty APR of 29.99% that occurs in case you fail to pay off your purchases in full. The APR may also vary.
- Special Offer: In case you manage to spend $1,000 within the first 3 months of using the card, you’ll be rewarded 10,000 Membership Rewards® points. The offer is a subject to certain terms.
- Special offer in terms of APR: You’re not expected to pay any interest for balance transfer operations and purchases during the period of the first 12 months.
More information concerning the card:
- You have a chance of getting a very appealing sign-up bonus that amounts to 10,000 Membership Rewards® points.
- There is an interest free period for the purchases you make and balance transfer operations you carry out.
- With this card you’re not expected to pay any annual fee.
- The card rewards you 2x points for the purchases made at the US supermarkets. Once you hit the cap of $6,000 (spent within one year), the rate of 1x applies. All the rest purchases you make with the card will bring you 1x rewards.
- In case you use your card at least 20 times during a billing period, you’ll be rewarded 20% additional points on all these 20 purchases.
- The acceptance of the card is expanding. At present, more than 1 million places across the US accept the card.
- The offers that come with the card are subjects to certain terms.
Basic features and advantages of the card
Those cards that are designed to provide benefits in terms of travelling, offer rewards for the purchases that have to do with your trips. As for cash back cards, they provide you with rewards for the purchases you make at grocery stores. Actually, the Amex EveryDay® Credit Card is exactly that unique card that offers its potential cardholders both travel rewards and rewards for buying things you need at grocery stores.
Let’s see what benefits you can enjoy once you get the card:
- You don’t have to pay any annual fee. That’s rather convenient.
- You are rewarded 2x points for the purchases made at the US supermarkets. Once you hit the cap of $6,000 (spent within one year), the rate of 1x applies.
- In case you decide to book something you’ll need during your trio via the AMEX Travel portal, you’ll be rewarded 2 points for each dollar spent.
- As far as any other kind of a purchase goes, expect 1x points for it.
- You’ll get 20% more points if you manage to use your card to make at least 20 purchases during a billing period.
- You’ll be one of those lucky persons to get a great sign-up bonus in case you mange to meet the requirements.
- Those who want to make several or one big purchase in the nearest future, will definitely like the following – an interest free period that lasts during the first year of you using the card. It means that you won’t be required to pay any interst for balance transfer operations and purchases.
The reasons for you to consider applying for the card
- You’re looking for a card that implies no annual fee and a long interest free period. Actually, the card is great if you’re going to make a big purchase and you want to have enough time to pay it off in full without paying any interests. At the same time, be aware of the fact that once the period is over, you’ll be charged 3% or 5 dollars for the balance transfer operations you carry out.
- You’re looking for a card that comes with good bonuses. Well, the bonuses offered by this card may seem to be not that big, but still there are some bonuses after all. Each Membership Reward point you earn with the card is from 0,5 to 1 cent worth. The value you get depends on the way you choose to redeem your points. Consequently, the sign-up bonus promised amounts to $100.
Apart from the sign-up bonus that’s meant to be a nice surprise for new cardholders, there is also a chance to be rewarded 20% additional points. In order to get this reward, you need to use your card at least 20 times during a billing period making purchases with it. The sums of your purchases don’t matter.
- You’re looking for a card that offers flexibility in terms of redeeming your rewards. There is a wide variety of redemption options with the card (gift cards, cash, travel statement credit etc.). You ae also able to transfer the points you have accumulated on your account to a number of loyalty programs. However, the most important thing to keep in mind about the redemption options is that some of them significantly decrease the value of your points. There is also a minimal number of the points that you’re allowed to redeem (1,000 points).
The reasons for you to consider applying for a different card
The card can be considered to be the best as far as the combination of the bonuses and rewards goes, but it’s definitely not the best in terms of any particular feature it has. Below are the reasons for you to think over the possibility of applying for a different card.
- You want to find a card that offers a higher effective rewards rate and still doesn’t require you to pay any annual fee. There are other cards issued by AMEX that don’t cost anything for carrying them, but offer higher rewards you can get. One of such like cards is the Blue Cash Everyday® Card. It’ll be more than useful for those spending big sums of money on gas and groceries. The rates are 3% and 2% respectively. Keep in mind that they will apply only for the purchases made at certain places. If you’re fine with having to buy what you need at the US supermarkets or gas stations to get the most out of the card, well you found the best card for yourself. This card also has a nice surprise for new cardholders – the bonus provided as a statement credit ($150). You’ll get it only under the condition that you manage to spend $1,000 during the first 3 months of using the card.
There is one other option that we definitely recommend you to consider. We are talking about the Citi® Double Cash Card – 18 month BT offer. The popularity of this card has to do with the fact that it gives you cash back twice. You get 1% when you buy something with it. After it, you’ll get an additional 1% when you’ll be paying your purchase off. That’s twice more than the Amex EveryDay® Credit Card from American Express has for you. There is no fee to pay for the card each year, but there is no sign-up bonus to get as well.
- You’re the one who dislikes the need to pay extra money for using cards abroad. This is especially true for those who love travelling a lot. Such like persons will for sure love the Capital One® Venture® Rewards Credit Card. In comparison with the AMEX card described in this article it doesn’t require you to spend extra money when you need to buy something during your trip. It’s also worth pointing out that the card will allow you to use your rewards redeemed as a statement credit for any purchase that’s somehow “connected” with your trip. There are no restrictions in terms of the way you need to book. Some people may still have doubts due to the fact that the card doesn’t have any annual fee to pay only during the 1st (Once the period is over, you should be ready to pay $95). That’s really not a big deal since the card will reward you $500 statement credit as a sign-up bonus. This will easily offset the fees for several next years. This reward isn’t at all hard to get. You’re only required to spend $3,000 during the period of the first 3 months.
- You’re looking for a card with better options in terms of transferring your rewards to different loyalty programs. If you decide to transfer the points you earned with the card to some loyalty programs you’re taking part in, you’re very likely to do it at a rate that’s less than 1:1. Fortunately, there is a card out there that can offer you better conditions. We recommend you learning more about the Chase Sapphire Preferred® Card. The card allows you to transfer the points you have to lots of loyalty points at the 1:1 rate and there is no fee to pay for it. This card rewards you 2 points for each dollar spent on travelling and dinning and 1 point per dollar for all the rest purchases made. There is also a sign-up bonus of 50,000 waiting for you. However, the requirements you need to meet in order to get it a bit different than those of the Capital One® Venture® Rewards Credit Card. You have to spend $4,000 during the first 3 months of using the card to get the bonus promised. Once you redeem it, you’ll get $625 statement credit that you can use for your trip ahead. There is no annual fee during the 1st year of you using the card, but there applies the fee of $95 starting from the 2nd
Summary: Is the Amex EveryDay® Credit Card from American Express your ideal card?
Overall, the card isn’t that bad. It offers good rewards and it implies no fee that you’re expected to pay each year for using it. However, if you want to get as much rewards for everyday shopping and travelling as possible, there are better options out there that you may be interested in.