Amex EveryDay® Preferred Credit Card review

Amex EveryDay® Preferred Credit Card: Overview

Intro APR: 0% APR for the first 12 months from the date of account opening. After that, your APR will be 18.24%–28.24% variable

APR

• Purchase: 18.24%–28.24% variable
• Balance transfer: 0%, APR for the first 12 months from the date of account opening on balance transfers requested within 60 days of account opening. After that, your APR for those transactions and any other balance transfer requests, will be 18.24% to 28.24% variable
  • Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater
• Cash advance: 29.99%
  • Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
• Penalty: 29.99%; this APR may be applied to new transactions on your account if: you make one or more late payments; or your payment is returned by your bank. 

Annual fee: $95

Foreign transaction fee: 2.7% of each transaction after conversion to US dollars

Late payment fee: up to $40

Returned payment free: up to $40

Groceries and transportation or gas are significant expenses for most households. If you’re looking to maximize your rewards, a card that offers a higher rewards rate in those categories can be beneficial. If you’re looking for a simple card without the hassle of keeping track of rotating categories, the Amex EveryDay® Preferred Credit Card offers a higher rewards rate on groceries and fuel, and it has some added perks and benefits that can make it even more useful despite its annual fee. 

Amex EveryDay® Preferred Credit Card: Rewards 

With the Amex EveryDay® Preferred Credit Card, you’ll earn:

• Three Membership Rewards Points per $1 on the first $6,000 spent at grocery stores per year
• Two Membership Rewards Points per $1 spent at gas stations
• One Membership Rewards Point per $1 spent on all other purchases

According to the U.S. Bureau of Labor Statistics, households spent an average of $5,703 on food consumed at home and $3,120 on fuel in 2022. If you spent those amounts and used the Amex EveryDay® Preferred Credit Card to pay for those transactions, here’s how much you could earn in rewards: 

• Three points per $1 spent on $5,703 of groceries = 17,109 points
• Two points per $1 spent on $3,120 of gas = 6,240
• Total rewards: 23,349

As an added bonus, you can earn 50% extra points if you use your card 30 or more times in a billing period. For example, if you used your card 30 times and racked up 1,000 points, you’d get an additional 500. 

The value of those points varies by redemption method, but ranges from 0.5 to one cent each. 

Does Amex EveryDay® Preferred Credit Card offer a new customer bonus?

The EveryDay Preferred card does have a bonus offer for new customers. New cardmembers can receive 15,000 Membership Rewards Points after spending $2,000 on eligible purchases within six months. Depending on how you redeem those points, the bonus is worth anywhere from $75 to $150. 

How to redeem Amex EveryDay® Preferred Credit Card Membership Rewards Points

You can use your Membership Rewards Points in a variety of ways. Generally, redeeming your points for travel or gift cards will give you the most value: 

Book or upgrade travel

You can redeem your points for flights, hotel stays, cruises and car rentals through American Express Travel. Redemption values vary by use, but range from 0.5 to one cent per point. For example, you can redeem 10,000 Membership Rewards Points for $100 in flights, but only $70 toward a cruise. 

Gift cards

Amex partners with retailers, restaurant chains and travel companies to allow customers to redeem their points for gift cards. Values vary by card type, but you can typically get a gift card between $50 and $100 with 10,000 Membership Rewards Points. 

Pay with points at checkout

When shopping online through select retailers, such as Amazon or Saks Fifth Avenue, you can use your points to pay for some or all of your purchase. Your point value varies by retailers, but they’ll typically be worth about 0.7 cents each. 

Statement credits

Redeeming your points for statement credits is often an excellent way to get the most value from your rewards, but the Amex EveryDay® Preferred Credit Card is an exception. The card allows you to redeem your points for statement credits, but at a much lower valuation; your points are worth just 0.6 cents each, so 10,000 Membership Rewards Points would be worth just $60. 

Transfer points

Amex allows cardmembers to transfer their Membership Rewards Points to select partner loyalty programs. The transfer value varies by partner, but you can typically redeem your points for one or more loyalty program miles. 

Additional benefits

The Amex EveryDay® Preferred Credit Card has a limited number of credit card benefits: 

• 0% APR on purchases and balance transfers: As a new cardmember, you can enjoy 0% APR for 12 months on purchases and balance transfers completed within 60 days of account opening. After that, the regular APR of 18.24% to 28.24% applies. That promotional offer gives you an entire year to make payments or finance a large expense without interest accruing. 
• American Express Experiences: Cardmembers get exclusive access to ticket pre-sales and cardmember-only events. 
• Car rental loss and damage insurance: Pay for your entire car rental with your Amex card and decline the rental company’s coverage and you’re automatically covered by car rental loss and damage insurance. This coverage is secondary to your personal insurance policy. 
• Global Assist Hotline: If you are traveling 100 miles or more from your home and need assistance, the Global Assist Hotline can help you with everything from medical referrals to emergency cash wires. Any fees for provided services are not included, and the cost is your sole responsibility. 
• Plan It: Amex’s Plan It feature allows you to split purchases of $100 or more into monthly installments with a fixed fee. 
• Return protection: If you use your card for an eligible purchase and the seller won’t accept a return within 90 days of its purchase date, Amex may refund the entire purchase price up to $300 per item, up to a maximum of $1,000 over a calendar year. 

Is the Amex EveryDay® Preferred Credit Card right for you?

The Amex EveryDay® Preferred Credit Card is suitable for you if you want a simple card and gas and groceries tend to be your biggest expenses. You’ll earn a higher rewards rate on both categories, and you can reward your points in a variety of ways. 

However, if you tend to spend money on other expenses, such as online shopping, streaming services or wholesale clubs, you’ll only earn one Membership Rewards Point per $1 spent, so you may be better off with another card that offers higher rewards rates in those categories or a flat cash back rate. And if you travel often, the Amex EveryDay card is probably not the best choice due to its limited benefits and fees. 

Credit cards similar to Amex EveryDay® Preferred Credit Card

If the Amex EveryDay® Preferred Credit Card isn’t right for you because of its rewards structure, fees or limited benefits, consider these alternatives: 

Capital One Venture Rewards Card vs. Amex EveryDay Preferred Credit Card

The Venture Rewards Card has the same annual fee as the Amex EveryDay® Preferred Credit Card —$95— but it has a very different rewards structure. Cardmembers can earn five miles per $1 spent on travel booked through Capital One Travel, and two miles per $1 spent on all other purchases. There’s no cap on how many miles cardholders can earn, and the card doesn’t have foreign transaction fees, making it a better option for frequent travelers. 

The card also offers a variety of benefits that are beneficial to travelers, including a credit for TSA PreCheck or Global Entry fees, travel accident insurance and auto rental damage collision waiver coverage. 

Chase Sapphire Preferred vs. Amex EveryDay Preferred Credit Card

Like the Amex EveryDay preferred card, the Chase Sapphire Preferred credit card has a $95 annual fee. But though the EveryDay Preferred card is useful for routine expenses, the Chase Sapphire Preferred® Card is a better choice for frequent travelers. Besides providing valuable travel rewards, the Chase Sapphire Preferred® Card gives cardmembers a lengthy list of travel benefits, including: 

• Trip cancellation/interruption insurance
• Auto rental damage collision waiver
• Baggage delay insurance
• Trip delay reimbursement
• Travel and emergency assistance

Plus, it doesn’t charge foreign transaction fees, making it a good option if you often travel outside of the U.S. 

American Express EveryDay vs. Amex EveryDay® Preferred Credit Card

If you’re looking for a basic card for your day-to-day purchases and you don’t want to pay an annual fee, the American Express EveryDay card could be a useful alternative to the Amex EveryDay® Preferred Credit Card. It has no annual fee, and you’ll earn two points per $1 on the first $6,000 spent at grocery stores per year, and one point per $1 spent on all other purchases. 

The Amex EveryDay’s benefits are more limited than the EveryDay Preferred card’s perks, but cardmembers get access to the Amex Global Assist Hotline and car rental loss and damage insurance. 

Frequently asked questions

What credit score is needed to apply for the Amex EveryDay Preferred card?

You’ll need a credit score of at least 700+ to apply. 

Amex EveryDay Preferred vs. EveryDay: which is better? 

Unlike the Amex EveryDay® Preferred Credit Card, EveryDay card doesn’t have an annual fee. However, its reward structure is more limited, offering a higher rewards rate only on grocery purchases, so those who spend substantial amounts  on gas may benefit more from the EveryDay Preferred card. 

Is the Amex EveryDay Preferred good for travel? 

Although the Amex EveryDay® Preferred Credit Card is useful for routine purchases, it’s likely not the best card to rely on if you plan to travel internationally since it charges foreign transaction fees and has minimal travel benefits. There are other cards with more expensive travel coverage, including trip cancellation/interruption and baggage loss insurance, without the added expense of foreign transaction fees. 

Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.

Fortune Recommends™ credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.