Quick highlights
- Rewards rate: 3X points at U.S. supermarkets (up to $6,000 per year in purchases, then 1X points), 2X points at U.S. gas stations and on rental cars booked through American Express Travel with 1X points on all other purchases
- Welcome offer: 15,000 points after spending $1,000 in purchases within first three months
- Annual fee: $95
- Purchase intro APR: 0 percent intro APR for 12 months
- Balance transfer intro APR: 0 percent intro APR for 12 months (on balance transfers requested within 60 days of account opening)
- Regular APR: 18.24 percent to 28.24 percent (variable)
Current welcome offer
As a new cardholder, you can earn 15,000 Membership Rewards points after spending $1,000 in purchases during your first three months.
This welcome bonus isn’t a bad by any means, but how valuable it’ll be varies greatly depending on what you redeem it for. Bankrate values each point at a stellar 2.1 cents through certain point transfer options. In that case, your intro bonus would be worth up to $315. But the point value can sharply drop if you put them toward non-travel options. Redeeming for cash back via statement credit would reduce this intro offer’s value to $90.
However, other cards with a similar annual fee may offer much more valuable introductory bonuses. For example, if you can meet the spending requirement of $4,000 in your first three months, the Chase Sapphire Preferred® Card offers: 60,000 Chase Ultimate Rewards points. That’s worth $750 when you redeem through Chase Ultimate Rewards®.
Rewards
The American Express Membership Rewards points you’ll be earning are some of the most valuable travel rewards on the market, and the Amex Everyday Preferred credit card is one of the best ways to earn them from day-to-day expenses.
Earning rewards
You can earn 3 points per dollar spent at U.S. supermarkets, on up to $6,000 per year in purchases before reverting to 1X points. You’ll also earn 2 points per dollar at U.S. gas stations, 2 points per dollar on prepaid rental cars booked through American Express Travel and 1 point per dollar on all other purchases.
There are a few ways to earn bonus points here and there, like the Amex Offers program and 2X points on amextravel.com purchases, but the best reward feature of this card is the 50 percent extra points benefit. If you make 30 or more separate purchases with your card during a billing period, you’ll earn 50 percent additional points. For example, 30 purchases totaling $1,000 in your 3X U.S. supermarket category, will net you 4,500 points — 3,000 points initially, plus another 1,500 points sprinkled on top.
Redeeming rewards
Membership Rewards are prized for their versatile spread of redemption choices, travel options and transfer partners. Booking a good travel deal through the American Express Travel portal or finding a 1:1 transfer partner will be the most valuable uses of your points, however, since non-travel options typically water down the value to less than 1 cent apiece.
If you choose to go the non-travel route, you can also redeem your points for statement credits, gift cards and merchandise. Plus, you can use your points to cover recent card charges or pay for your online shopping purchases at select merchants’ checkout screens (like Amazon.com and rental cars through amextravel.com).