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Advertiser Disclosure: Many of the companies featured here provide compensation to us. This is how we maintain our free service. Compensation and in-depth editorial research, determines where & how companies appear below. 

Advertiser Disclosure: Many of the companies featured here provide compensation to us. This is how we maintain our free service. 

Advertiser Disclosure: Many of the companies featured here provide compensation to us. This is how we maintain our free service. Compensation and in-depth editorial research, determines where & how companies appear below. 

Amex EveryDay® Preferred Credit Card Review

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Amex EveryDay® Preferred Credit Card Review

Apply now and earn 15,000 Membership Rewards points after spending $2,000 in three months, plus amazing bonus points on supermarkets, gas stations, and regular purchases!

Amex EveryDay® Preferred Credit Card Review

Amex EveryDay® Preferred Credit Card Review

Learn More

Apply now and earn 15,000 Membership Rewards points after spending $2,000 in three months, plus amazing bonus points on supermarkets, gas stations, and regular purchases!

Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Introduction

The Amex EveryDay® Preferred Credit Card from American Express is tailored for those who want to earn substantial rewards on everyday purchases. It stands out with its attractive rewards program that gives you points for each dollar spent, with special attention to grocery and gas expenses. New cardholders can look forward to a welcome bonus as well as earning additional bonuses for frequent use. Paired with an annual fee of $95, this card offers a blend of practicality and potential for reward maximization, making it a compelling option for routine spenders who revel in racking up points.

Welcome Bonus

The Amex EveryDay® Preferred Credit Card opens the door to a lucrative welcome bonus for new cardholders. By spending $2,000 in purchases within the first three months of membership, you can earn 15,000 Membership Rewards points. This initial surge in points gives you a headstart in accumulating rewards that can be redeemed for travel, shopping, or even statement credits.

Welcome Bonus Highlights:

  • 15,000 Membership Rewards points after meeting the initial spending requirement.
  • $2,000 spend target within the first three months.
  • Provides a strong incentive for new cardholders to engage with the card right away.
  • The bonus acts as a springboard for future rewards, setting the tone for a rewarding credit card experience.

The welcome bonus is specially crafted to appeal to those who can integrate this credit card seamlessly into their daily lives, ensuring they can reach the spending threshold without altering their spending habits extensively. Whether it’s for stocking up on groceries, fueling up the car, or covering other routine bills, the welcome bonus sets a positive trajectory for ongoing rewards accumulation.

Earning Rewards

Earning rewards with the Amex EveryDay Preferred Credit Card is straightforward and particularly beneficial for day-to-day spenders. The card’s reward structure is designed to cater to regular household expenses, offering generous point multipliers on categories where families often spend the most.

  • 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 all other purchases.

In addition, the Amex EveryDay® Preferred incentivizes frequent use with an additional reward perk. If you make 30 or more purchases with your card in a billing period, you earn a 50% extra points on those purchases. This means if you’ve integrated the card into everyday use, you’re not only earning on the base rates but also unlocking even more value from your routine transactions.

Maximizing Earning Potential:

  • Integrate card use for daily transactions to meet the 30 purchase threshold.
  • Use the card exclusively at bonus categories to maximize points earned per dollar.
  • Plan larger purchases or consolidate spending onto this card to reach the welcome bonus.

By strategically using the card for both regular expenses and extraordinary purchases, cardholders can significantly enhance the rewards they accumulate over time. It all comes down to being savvy about everyday spending and leveraging the card’s benefits to your advantage.

Redeeming Rewards

Redeeming rewards with the Amex EveryDay® Preferred Credit Card is a flexible and satisfying experience, thanks to the diverse options available through American Express Membership Rewards program.

Redeeming Rewards Options & Value:

  • Travel: Book flights, hotels, cruises, and more directly through AmexTravel.com.
  • Transfer to Partners: Convert points to frequent traveler programs with numerous airlines and hotels.
  • Shopping: Pay with points at checkout with select merchants or use them for online shopping.
  • Gift Cards: Exchange points for gift cards from various retailers, restaurants, and entertainment providers.
  • Statement Credits: Apply points towards credit card charges for a statement credit.

When it comes to redemption value, points are most valuable when used for travel, especially when transferred to one of American Express’s partner airlines or hotels where you might find higher value per point. However, options like statement credits offer simplicity and immediate value against incurred expenses.

Key Redemption Tips:

  • Focus on travel redemptions for the best value for points.
  • Check the transfer partner ratio and compare against direct booking through AmexTravel to maximize point worth.
  • Remember that redeeming points for statement credits and shopping may offer less value per point compared to travel.

By understanding the various redemption methods and their relative values, cardholders can make informed decisions that align with their personal preferences and financial goals.

Perks and Benefits

The Amex EveryDay Preferred Credit Card not only offers impressive ways to earn and redeem points but also provides a suite of perks and benefits that enhance its value proposition, making it a well-rounded choice for consumers.

  • Travel protections: Cardholders enjoy travel accident insurance and car rental loss and damage insurance for additional peace of mind.
  • Purchase protections: Benefit from purchase protection and extended warranty on eligible items, covering your purchases against damage or theft and extending the manufacturer’s warranty.
  • Entertainment access: Exclusive access to ticket presales and member-only events through American Express Experiences.
  • Global Assist Hotline: 24/7 access to medical, legal, financial, and other emergency assistance services when traveling more than 100 miles from home.
  • Relationship bonus: Earn a 50% points bonus when you use your card 30 or more times on purchases in a billing period.
  • No foreign transaction fees: Make purchases abroad without worrying about additional fees.

By taking advantage of these benefits, cardholders can not only save money but also enjoy an elevated experience when shopping, traveling, or even attending exclusive events.

Highlighting the Benefits:

  • Stay protected on your travels with comprehensive insurance coverages.
  • Protect your purchases with assurance features that guard against life’s mishaps.
  • Enjoy unique experiences and preferred access to events, increasing the joy of card ownership.
  • Receive help anywhere in the world with the Global Assist Hotline.
  • Avoid the typical extra costs associated with using a credit card internationally.

These benefits are valuable additions that make the Amex EveryDay® Preferred Credit Card an attractive option, offering more than just a way to earn points but also enriching the overall cardholder experience.

Pros and Cons

Understanding the advantages and potential drawbacks of the Amex EveryDay® Preferred Credit Card is essential to making an informed decision. Here’s a comprehensive list of the pros and cons to help weigh your options.

Pros:

  • Generous Rewards Structure: Earn 3x points at U.S. supermarkets and 2x points at U.S. gas stations, enhancing earning potential for frequent shoppers and commuters.
  • Welcome Bonus: A valuable introduction offer of 15,000 Membership Rewards points after you spend $2,000 on purchases in the first 3 months.
  • 50% Bonus on Points: Make 30 or more purchases in a billing period and earn 50% extra points on those transactions.
  • Flexible Redemption Options: Points can be used for travel, shopping, statement credits, transfers to airline and hotel partners, and more.
  • Amex Perks: Enjoy a suite of benefits including travel accident insurance, car rental loss and damage insurance, purchase protection, and more.
  • No Foreign Transaction Fees: Ideal for international travelers who won’t incur extra charges on purchases abroad.

Cons:

  • Annual Fee: The card carries a $95 annual fee, which could be a deterrent for those averse to paying for a credit card, especially if they’re not maximizing the rewards and benefits.
  • Rewards Cap: The 3x points at U.S. supermarkets apply only up to $6,000 per year in purchases, after which the rate drops to 1x.
  • High Spending Requirement for Bonuses: The full reward potential is unlocked only after a significant number of monthly transactions, which may not suit less frequent spenders.
  • Value of Redemption Varies: While flexible, point value can vary greatly depending on the redemption option chosen, potentially lowering the overall rewards value for some redemptions.

When considering the Amex EveryDay Preferred Credit Card, it’s important to assess both the pros and cons to gauge how well the card’s offerings align with your spending habits and financial lifestyle.

Comparison to Other Cards

Comparison to other cards is a crucial step in assessing whether the Amex EveryDay® Preferred Credit Card is the right one for your wallet. It involves looking at similar cards in the market to understand where this card stands.

  • Citi® Double Cash Card: Offers up to 2% cash back on all purchases (1% when you buy plus 1% as you pay) with no annual fee, appealing to those who prefer simple cash back over points.
  • Chase Sapphire Preferred® Card: With higher travel rewards and a larger welcome bonus, this card could be more lucrative for high-spenders, especially in travel and dining, despite a higher annual fee.
  • Blue Cash Preferred® Card from American Express: This card rivals the EveryDay® Preferred in grocery rewards but focuses on cash back and carries a different fee and rewards structure.

Key Differentiators:

  • The EveryDay® Preferred offers bonus points on everyday purchases like groceries and gas and extra points for frequent use, which is unique among many reward cards.
  • The card’s ability to earn a 50% bonus on points for using the card frequently each billing period sets it apart from other rewards cards that don’t incentivize transaction volume.
  • Unlike cards that award flat-rate cash back or points, the EveryDay® Preferred provides a tiered rewards system, which can be more beneficial for those who spend heavily in the card’s bonus categories.

By conducting a thorough comparison of the card against its competition, you will be better positioned to make a decision based on your spending habits, rewards preferences, and financial goals.

Conclusion

In conclusion, the Amex EveryDay® Preferred Credit Card is an exceptional choice for everyday spenders who frequent supermarkets and gas stations, offering a robust rewards program and an attractive welcome bonus. The additional perks and protections add a layer of value that extends beyond mere point accumulation. However, the annual fee and spending requirements for bonuses make it most suitable for those who will use the card heavily enough to outweigh these costs.

Who the Card is Best For:

  • Regular shoppers at U.S. supermarkets and gas stations.
  • Those who will take advantage of the 50% bonus by making 30 transactions per billing cycle.
  • Cardholders who frequently travel and can utilize the flexible redemption options, especially for travel.

Ultimately, if you can leverage the bonus categories and meet the transaction threshold, the Amex EveryDay® Preferred Credit Card can offer outstanding value and save you money on your everyday expenditures.

Frequently Asked Questions

Can I use my credit card points to book any airline? Most credit card reward programs have partnerships with various airlines, allowing you to use your points to book flights directly through the card issuer’s travel portal or by transferring points to a partner airline’s frequent flyer program.

Will closing a credit card affect my credit score? Yes, closing a credit card can impact your credit score by affecting your credit utilization ratio and the average age of your credit accounts, both of which are components of credit scoring models.

How often should I use my credit card to build credit? Regular use of your credit card, coupled with on-time payments and maintaining a low credit utilization ratio, can help build credit. Ideally, use it at least once per billing cycle for purchases that you can afford to pay off.

Do credit card rewards expire? The expiration policy for credit card rewards varies by issuer and card. Some rewards may never expire, while others could expire if your account is inactive for a certain period or if you close your account without redeeming the points.

Is it better to redeem points for cash back or travel? Deciding between cash back or travel redemptions should be based on your personal preferences and financial goals. Usually, points can offer more value when redeemed for travel, especially through partner programs, whereas cash back provides more immediate and flexible benefits.

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