Amex® EveryDay Preferred Credit Card
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We like the Amex EveryDay Preferred Credit Card a bit better than its no fee sibling, the Amex EveryDay Credit Card, but it’s still not quite good enough to be a must-have in your wallet.
Although it offers a good rewards rate on typical household spending, it can be pretty complicated to keep track of all that you’d have to do to make the most of this card. There are other cards with similar rewards that require less effort.
The card’s rewards program looks kind of bland upon first glance. You’ll earn 3 Membership Rewards points at U.S. supermarkets on up to $6,000 in annual spending. After that you’ll earn 1 point per dollar spent.
The card also should have some marginal value for frequent travelers. You can earn 2x points on eligible travel purchases at AmexTravel.com. Eligible purchases include prepaid hotel stays, vacation packages and cruises. Amex EveryDay Preferred also pays 2 points at U.S. gas stations and on Uber rides when you enroll your card.
All other purchases earn 1 point per dollar spent.
These rewards, again, are just OK.
But EveryDay Preferred offers a unique bonus for frequent users. In any billing period in which you make 30 or more purchases with your card, you’ll earn 50% more points on those purchases less returns and credits.
So if you earned 100 points in a month, and made at least 30 transactions, you’d receive an additional 50 points.
There’s a lot of work involved to make sure you get the bonus every month, and once you hit the $6,000 annual cap on U.S. supermarket spending, you’re better off using another card that earns you greater rewards in that category.
This card does have some cool perks that might make it worth doing the math on rewards. There’s no drawback to having 12 full months of 0% APR on purchases. It’s a nice feature for balance transfers, too, but you’ll have to mind the transfer fee to make sure it’s worth it. After the intro period expires, the regular APR is a variable 14.24% to 24.24% based on creditworthiness.
Who should own this card
For spending on the everyday essentials, like gas and groceries, this card might be a good addition to your wallet with its boosted rewards rates in those categories.
Fees and APR
- Enjoy a 0% APR introductory offer on purchases and balance transfers for 12 months. After that, your APR will be 14.24% to 24.24% based on creditworthiness.
- This card charges a foreign exchange fee of 2.7% making it a poor choice for international travel or spending.
- The annual fee is $95, waived the first year.
- If you make a late payment, you could be hit with a penalty APR of 29.99 percent that will apply for at least six months plus a late payment fee of up to $38.
- See Rates & Fees.
Extras, perks and using points
As an enticement to keep this card top-of-wallet, if you make 30 or more purchases with your card in a billing period, you’ll earn 50% extra points on those purchases, less returns and credits.
To redeem your points, log onto your account and select the way you’d like to use them. Points can be used towards travel, cash-back, gift cards or through select merchants like Amazon using the Pay with Points option. There is no fee to redeem your points.
How this card compares
If you’re prepared to put in some work, the Amex EveryDay Credit Card is a quality rewards card, especially because it has no annual fee. But you have to be dedicated to squeezing out value, otherwise this card is probably not worth your effort to apply.
If you’re up for the challenge of tracking bonus rewards categories, Chase Freedom can give you some real cash-back bang for your buck. For travel junkies and road warriors, this card is ideal when paired with an eligible Chase card to reap maximum travel rewards on your spending.
If you don’t want to do the work, get a card that offers a flat cash-back rate better than what you’ll find here.
That’s like getting automatic coupons every time you shop.
Chase Freedom Unlimited is a solid, straightforward cash-back rewards card that’s ideal for cardholders who just don’t have the time or energy to track spending categories. It ranks among the very best cash-back credit cards we track.
There are other cards that offer better rewards, but the Chase Freedom Unlimited’s 1.5% cash-back on everything is an excellent reward coming from a no-annual-fee credit card.