The Amex EveryDay 0% APR offer on purchases is for 15 months after account opening. Once this intro period expires, any remaining balance on the Amex EveryDay will be subject to the regular APR of 12.99% - 23.99% (V).
Here’s some more info about the Amex EveryDay 0% APR offer:
Since the average 0% intro APR for new purchases lasts 11 months, the Amex EveryDay offer is above average. Amex EveryDay doesn’t have an intro APR for balance transfers, because it doesn’t allow this type of transaction.
It’s important to remember that even though you don’t pay interest during 0% APR periods, you still must make timely minimum payments each month. You should also consider paying more than the minimum, since you’ll want to pay off the credit card balance before the regular APR kicks in. For help planning your payments, try out WalletHub’s Credit Card Calculator.
The Amex EveryDay® Credit Card from American Express
Your Amex EveryDay approval odds are decent, if you have a 700+ credit score. This means that you need at least good credit to have even a hope of qualifying.
But the issuer will also take into account various other factors while considering your application. Your credit history, income and any debts you might have will determine the outcome, too.… read full answer
However, American Express lets you check for pre-approved offers on their website. Pre-approval means a strong chance of a successful application, and checking won’t hurt your credit score.
Here’s what you need to know about your Amex EveryDay approval odds:
The Amex EveryDay requires a 700+ credit score. So, you need at least good credit to qualify for this card.
Keep in mind that while credit history is extremely important, it isn’t the only factor. Your income and other debts also play a role in approval.
So, to have a good chance at Amex EveryDay approval, you’ll need a 700+ credit score and the ability to afford a new line of credit. If that doesn’t describe you right now, you could consult WalletHub’s personalized credit advice.
The Amex EveryDay APR is 0% for the first 15 months your account is open. After that, it could be anywhere between 12.99% - 23.99% (V). The exact number will depend on your creditworthiness, and will be determined when you open your account. You won’t have to pay any interest on purchases if you always pay off your balance by the due date, 25 days after the end of billing cycle.… read full answer
The purchase APR is the most widely applicable rate, but purchases aren’t the only transactions Amex charges interest on. I’ll go through the rest below.
Here are all the different types of Amex EveryDay APR:
Introductory Purchase APR: 0% for 15 months.
Regular APR: 12.99% - 23.99% (V), based on creditworthiness. Your purchases will accrue interest at this rate once the 15 months introductory period is over.
Cash Advance APR: 25.24% (V). Interest starts accumulating as soon as you withdraw your cash. And there’s a fee of 5% (min $10) for each cash advance transaction.
Penalty APR: 29.24%. The penalty APR can be applied once you miss a payment or have a payment returned. You can get it withdrawn by making six consecutive payments on time.
Plan It Fee: The Amex Plan It feature allows you to pay off large purchases into monthly payments for a fixed monthly fee rather than the purchase APR. You won’t pay fees for the 15 months introductory APR period. After that, the monthly fee along with the number of purchases and plans you can combine and their duration will vary based on factors such as creditworthiness, purchase amount(s) and your account history.
The Amex EveryDay APR you get will depend on the transaction you’re making, when you’re making it, and your creditworthiness. Amex EveryDay offers 10,000 points after spending $1,000 in the first 3 months. And it earns 2 points per $1 spent on travel booked through amextravel.com and at supermarkets (up to $6,000 per year), and 1 point per $1 spent on all other purchases so it’s best used as an everyday spending-rewards card.
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