What is the Amex EveryDay APR?

The Amex EveryDay APR is 0% for the first 12 months your account is open. After that, it could be anywhere between 14.99% and 25.99%. The exact number will depend on your credit worthiness, 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 due date, 25 days after the end of billing cycle.

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:

• Balance Transfer: You’ll pay 0% for the first 12 months, if you request the transfer within 60 days of account opening. After that, it could be any number between 14.99% and 25.99%, depending on your credit worthiness. Your balance transfer APR and purchase APR will be the same rate.
• Cash Advance: 27.24%. Interest starts accumulating as soon as you withdraw your cash. And there’s a fee of either $5 or 3% of the transaction, whichever is higher.
• Penalty: 29.99%. 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 You can get it withdrawn by making six consecutive payments on time.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 lets you split up large purchases into monthly payments for a fixed monthly fee rather than the purchase APR. You’ll pay $0 in fees for the first 12 months after opening your account. After that, the monthly fee is up to 1.13% of the purchase.

The Amex EveryDay APR you get will depend on the transaction you’re making, when you’re making it, and your credit worthiness. It’s worth noting that other cards offer both longer intro periods and lower finance charges. For example, the Citi Simplicity interest-free period for purchases is 21 months, and the Discover it purchase APR starts at 12.24%. With two points per dollar at supermarkets and a 10,000-point after you make $1,000 in purchases, the Amex EveryDay card is best used for earning rewards, not paying balances.

You've got an intro period, for 12 months. After that, it'll be 25% max.