American Express has introduced a new credit card targeting busy moms.
The new Amex EveryDay credit card earns two rewards points for every dollar spent at U.S. supermarkets, up to $6,000 a year. All other purchases get one point per dollar. The card also rewards frequent users. Cardholders that make 20 or more purchases in a billing period receive 20 percent extra points.
The issuer is hoping to appeal to mothers, who are on the go, managing many different tasks during the day, says David Rabkin, senior vice president of consumer lending at American Express. Rabkin says the company wanted to reward this multi-tasking mom for how often she shopped, rather than how much she spent.
"We found that these consumers shopped consistently at five stores within 20 minutes of their home, but the stores didn't all fit into one category," he says. "The goal is not to ask people to spend more than they usually do, but to spend what they normally do and pull out our card."
The card works with the issuer's mobile app so cardholders can keep count of their purchases every month to help them earn the bonus rewards points.
There is no annual fee and no interest on purchases or balance transfer for the first 15 months. After that, the annual percentage rate ranges between 12.99 percent and 21.99 percent, depending on the cardholder's credit risk.
American Express debuted the new credit card, which is clear and modern-looking, Sunday evening during the Academy Awards Show with a commercial featuring Tina Fey, who Rabkin says is "the ultimate multi-tasker."
Does this sound like a card that would fit your lifestyle? Why or why not?
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