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Amex EveryDay Preferred Credit Card review

Written by Credit Card Reviews Writer Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, Jan. 13, 2022 Edited by Senior Editor, Credit Card Product News Emily Sherman is a senior editor for CreditCards.com and Bankrate Credit Cards, specializing in product news and recommendations. She has worked as a writer and editor in the Reviewed by Former Senior Director of Content Antonio Ruiz-Camacho is senior director of content for CreditCards.com and Bankrate Credit Cards. He has more than 20 years of international experience leading content teams, Jan. 13, 2022

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Snapshot

4.4 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon .

What are the pros and cons

Pros

3X Amex Membership Rewards points at U.S. supermarkets, with 2X points at U.S. gas stations and on rental cars booked through Amex Travel Increase your rewards value by 0.5 points if you make more than 30 separate purchases within one billing cycle 12-month 0 percent intro APR on purchases (13.74 percent to 23.74 percent variable APR ongoing)

Cons

$95 annual fee Points dip in value—usually by 20 to 40 percent—if redeemed for non-travel rewards Doesn’t currently offer balance transfers

A deeper look into the current card offer

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 for 12 months Balance transfer intro APR: N/A Regular APR: 13.74 percent to 23.74 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 isn't a bad welcome bonus by any means, but how valuable it'll be varies greatly depending on what you redeem it for. values each point at a stellar 2 cents through certain point transfer options. In that case, your intro bonus would be worth up to $300. 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 offers: 60,000 points. That's worth up to $750 in travel through Chase.

Rewards

The American Express you'll be earning are some of the 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 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 . Booking a good travel deal through the 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).

How much are points worth

Like we previously mentioned, Membership Rewards points are some of the most valuable travel rewards available-at 2 cents apiece-if you spend them on travel or transfer them to certain Amex partner loyalty programs, according to . Your mileage will vary if you decide to redeem for anything else. American Express has a useful that can show how much your point value can dip-down to half-value in some cases. Points are only worth 0.7 cents apiece if you're paying with points at checkout for retailers like Amazon and PayPal, but redeeming for cash back in the form of a statement credit will only net you 0.6 cents per point. But a new offer allows select cardholders will be able to redeem reward points at a boosted 1 cent-per-point rate to cover card charges-a 40 percent increase from the standard redemption value for statement credits. Travel might still be a more valuable use of your rewards, but it's an offer worth considering if you're planning to steer clear of travel for now.

Other cardholder perks

The other benefits that come with the Amex Everyday Preferred aren't entirely competitive at this annual fee level. Still, the standard American Express perks like Pay It Plan It, ShopRunner membership (enrollment required) and travel protections can be useful.

Pay It Plan It

If you're trying interest from eating into your rewards after a large purchase, the alternative payment features could help out in a pinch. Rather than add a new purchase directly to your balance, Pay It can settle a small purchase under $100 immediately, while Plan It allows you to move $100+ purchases into fixed-rate payment plans within your credit card limit. Be sure to use American Express' to make sure the monthly plan fees on your Plan It purchases won't outweigh the cost in interest.

Complimentary ShopRunner membership

As an eligible Amex cardholder, you'll receive a complimentary membership (enrollment required). Once you sign up, ShopRunner grants you free two-day shipping and free returns on qualifying items at over 100 retailer sites.

Travel and shopping protections

The Amex Everyday Preferred carries a decent suite of . The extended warranty coverage, and car rental loss and damage insurance are standard for American Express cards. But this card also comes with for normally ineligible purchases-a useful perk that is slowly disappearing among credit cards ().

Rates and fees

The Amex Everyday Preferred credit card is a relatively low-cost card. In fact, the lower end of the 13.74 percent to 23.74 percent (variable) ongoing APR is well below the . Plus, the 12-month intro zero interest purchase APR can give you some wiggle room on large purchases coming up. Unfortunately, the Amex Everyday Preferred isn't currently accepting if you're looking to reduce your current balance. The main costs worth noting are the 2.7 percent foreign transaction fee if you take your card with you overseas and the $95 annual fee. Even then, it only takes spending $132 each month in your 3X-point category (based on the 2 cent-per-point value) to earn enough rewards to offset this minor fee.

How the Amex Everyday Preferred credit card compares to other rewards cards

Unless you're considering a American Express card or one of its other , the Amex Everyday Preferred credit card delivers the best Membership Rewards rates for day-to-day expenses. But in terms of reward flexibility, you might get more from . The might be a better choice in this case. It earns a chart-topping 6 percent cash back at U.S. supermarkets (up to $6,000 per year, then 1 percent back) and on select U.S. streaming services, plus 3 percent on transit and U.S. gas station purchases.However, the $95 annual fee space is filled with competitive options if you're in the market for one to earn rewards on everyday purchases. The rewards categories have made it a standout choice, but the travel benefits are a bit bare-bones. It's also hard to go wrong with a flat-rate card like the that earns 2 miles on every purchase.

The Amex EveryDay® Preferred Credit Card

star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bankrate Score Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. Annual fee Intro offer Earn 15,000 Membership Rewards Points after you spend $2,000 in qualifying purchases on the Card within your first 6 months of Card Membership Rewards rate 3x points at U.S. supermarkets, on up to $6,000 per year in purchases (then 1x) 2x points at U.S. gas stations 1x points on other purchases Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Blue Cash Preferred® Card from American Express

on American Express's secure site Annual fee Intro offer Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Rewards rate 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more. 3% Cash Back at U.S. gas stations 1% Cash Back on other purchases Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Citi Premier® Card

on Citi's secure site Annual fee Intro offer For a limited time, earn 80,000 bonus ThankYou Points after you spend $4,000 in purchases within the first 3 months of account opening Rewards rate Earn 3 Points per $1 spent at Restaurants and Supermarkets Earn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels Earn 1 Point per $1 spent on all other purchases Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Best cards to pair with the Amex Everyday Preferred credit card

Naturally, American Express cards that can pool points you earn from categories outside U.S. supermarkets and gas stations make the best partners to the Everyday Preferred. For example, the complements the Everyday Preferred by filling in reward gaps on other popular expenses with its 3X points at restaurants and on transit and travel. When you redeem your rewards for future travel, the Green card also offers a few extra perks like and other airport-centric annual credits.

Bankrate s Take Is the Amex Everyday Preferred credit card worth it

The Amex Everyday Preferred credit card is a great source of Membership Rewards points if two of your big-budget categories are U.S. supermarket and U.S. gas station purchases. What makes this card a thought-provoking contender is its 50 percent extra points feature if you make more than 30 separate purchases each billing period. But considering its $6,000 spend cap on 3X U.S. supermarket purchases (then 1X points), 2.7 percent foreign transaction fee and reduced point value for anything outside travel, those searching for rewards flexibility might be better off going another direction. There are plenty of true rewards cards built for travel at the same price tag, and the Blue Cash Preferred card could be a better source of rewards if you spend more time at home. For rates and fees of the Blue Cash Preferred® Card from American Express, please click . All information about the Amex® Everyday Preferred Credit Card and American Express® Green Card has been collected independently by Bankrate and has not been reviewed or approved by the issuer.

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Written by Garrett Yarbrough Credit Card Reviews Writer Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, credit monitoring and identity theft analysis on NextAdvisor.com, he joined the CreditCards.com and Bankrate.com teams as a staff writer to develop product reviews and comprehensive credit card guides focused on cash back, credit scores and card offers. Edited by Senior Editor, Credit Card Product News Reviewed by Former Senior Director of Content

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