Pros
- No membership fees
- 0% intro APR on purchases
- 0% intro APR on balance transfers
- High rewards rate
Cons
- Spending caps on rewards
- Balance transfer fee
- High regular APR
- Foreign fee
The Verdict: The Amex EveryDay® Credit Card from American Express wouldn’t be our first choice for an everyday credit card, but it offers 0% intro rate on purchases for the first 15 months your account is open. So if you have a big-ticket purchase coming up and the good or excellent credit needed for approval, you should definitely consider Amex EveryDay.
The ability to save a bundle on interest isn’t the only perk that Amex EveryDay provides. You also stand to earn a 10,000 points initial bonus and enjoy an above-average rewards structure that comes with a few qualifications. The 2 points per $1 that you’ll earn at U.S. supermarkets applies to just the first $6,000 spent each year. Otherwise, you’ll earn 1 point per $1 spent. You also need to make at least 20 purchases per month to qualify for a 20% monthly rewards bonus.
Below, you can learn more about what the Amex EveryDay Credit Card will and will not add to your everyday life.
The Highlights
- 0% Intro Financing For 15 Months: Amex EveryDay® starts you out in an interest-free environment, offering a 0% intro APR on new purchases for the first 15 months. This can take a lot of pressure off your wallet, provided you use it responsibly. That means only financing what you can afford to repay before regular rates take effect. You can use a credit card calculator to plan the monthly payments needed to get out of dodge in time.
- 10,000 Points Initial Bonus: In return for spending at least $2,000 during the first 6 months your account is open, you will receive 10,000 bonus points. It’s not the largest or most valuable initial bonus available to people with good or excellent credit. In fact, it’s below the average for the market overall.
- No Annual Fee: The higher your credit score is, the less likely you are to have to pay an annual fee on a credit card. You can obviously do so for an especially attractive rewards deal, for example. But you’ll also have lots of free options available. This, of course, includes the Amex EveryDay® Credit Card, which is $26.75 per year cheaper than the average credit card as a result.
- Above-Average Rewards: You will earn at least the market average for a points credit card when using Amex EveryDay®, as it provides a minimum of 1 point per $1 spent. You also get an additional point on the first $6,000 in supermarket purchases that you make each year. And you'll receive a 20% bonus on all your earnings during months that you make at least 20 purchases.
The Lowlights
- Above-Average Regular APR: EveryDay’s regular APR can be anywhere from 17.74% to 28.74% (V), depending on your credit standing. Even if you get a rate at the low end of that range, it might still be above the market average for “excellent-credit” credit cards.
- 2.7% Foreign Transaction Fee: This is well above the market-average foreign fee of 1.58%. So if you travel abroad or make purchases from internationally based merchants, using Amex EveryDay® every day could wind up being pretty expensive.
Other Things To Consider
- Relatively Limited Worldwide Acceptance: American Express is the world’s third-largest card network, operating in more than 130 countries. That might seem like a broad reach until you consider that Amex’s larger rivals, Visa and Mastercard, are each accepted in more than 200 countries. This figures to be a major obstacle for many frequent travelers who might otherwise make Amex EveryDay® their go-to everyday spending vehicle.
- Travel & Gift Cards Offer the Most Redemption Value: You have a variety of options when it comes to redeeming points earned with the EveryDay® Card, but you’ll get the most value by using your points to book travel through the American Express travel website or by redeeming them for gift cards.
Compared To The Competition
| WINNER | ||
|---|---|---|
annual fee$0 | annual fee$95 | annual fee$0 |
Purchase Intro APR0% for 15 months | Purchase Intro APRN/A | Purchase Intro APRN/A |
transfer intro apr0% for 15 months Transfer Fee: 3% (min $5) | transfer intro aprN/A | transfer intro apr0% for 18 months Transfer Fee: 3% intro fee ($5 min) for each transfer in first 4 months, after that 5% ($5 min) for each transfer |
Regular APR17.74% - 28.74% (V) | Regular APR19.99% - 28.99% (V) | Regular APR17.74% - 27.74% (V) |
rewards rate
| rewards rate
| rewards rate
|
bonus offer 10,000 points | bonus offer Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel | bonus offer Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back. |
SponsoredApply Now | SponsoredApply Now SponsoredApply Now | SponsoredApply Now SponsoredApply Now |
The Amex EveryDay® Credit Card from American Express Review Methodology
This The Amex EveryDay® Credit Card from American Express review is based on WalletHub’s proprietary 100-point credit card rating system. By using a consistent methodology to evaluate the The Amex EveryDay® Credit Card from American Express and all other cards, WalletHub’s credit card experts make it easy for people to compare their options and find the best credit cards for their needs.
The WalletHub rating system uses 16 key metrics grouped into seven categories: Fees, Rewards, Two-year Cost, Interest Rates, Approval Requirements, Special Features, and Reviews. Each metric has a maximum number of points allocated to it, based on the metric’s importance as determined by our editors. The points are added up to create an overall rating for the The Amex EveryDay® Credit Card from American Express out of a maximum of 100 points, which is then converted to a 5-point scale.
Ratings for each category reflect how close Amex EveryDay is to WalletHub’s definition of a 5-star credit card, which is based on market conditions and what we believe are reasonable terms. We compare Amex EveryDay to that standard to give a numerical approximation of how reasonable and competitive its terms are compared to other cards.
To learn more about how WalletHub rates credit card offers, check out our full credit card review methodology.
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