Rewards Credit Cards July 4, 2020 0

Amex EveryDay Credit Card Review

Amex EveryDay Credit Card

Hello Friends, I hope all is well with you! Today, I am going to be reviewing the Amex EveryDay Credit Card. These opinions are my own, and I am in no way influenced by anyone.

Overall Verdict: The Amex EveryDay rewards credit card is a decent card. There are two main spending categories that you can earn rewards on; however, one of the spending categories has a a spending limit. Additionally, there are a couple of ways to earn bonus points, but one of the ways involves you using your Amex card a certain number of times before the billing period ends. Furthermore, you also get the usual benefits that Amex offers.

Some things about this card I like:

  1. No annual fee
  2. An opportunity to earn bonus points
  3. Good benefits

Some things about the card that I don’t like:

  1. Low rewards on most categories
  2. Cap on one of the earning categories
  3. Foreign transaction fee

What type of reward are you getting?

The Amex EveryDay rewards credit card offers you the opportunity to earn membership points for every dollar that you spend. These membership points accumulate in your account until you are ready to use them. One of the downsides to this rewards credit card is that you are only able to redeem your points as a statement credit, but it can only be redeemed once your rewards amount is greater than $25. Amex indicated that they may offer you different ways to redeem your cash back; you may be able to redeem your rewards for gift cards or merchandise, but that decision is up to them and should not be counted upon. It is also important to note that you can’t use cash back to pay for the minimum due amount on your bill.

Is there an annual fee?

The Amex EveryDay rewards credit card has no annual fee.

What is the rewards amount?

This Amex rewards credit card offers you the chance to earn 2x points at U.S supermarkets on up to $6,000 in purchases per year; you will then earn 1x points on this category after you reach the cap. All other purchases will earn you 1x points for every dollar that you spend. Amex does give you a couple of opportunities to earn bonus points. The first way would be to use your card 20 or more times on purchases before the billing period ends. Once the target is reached, you will earn an extra 20% more points on the purchases you made. The second way to get extra points would be to book all travel through Amex’s travel website. All travel bookings made through their website will earn you 2x membership points. I will be honest with you; I’m not a big fan on how the rewards are set up; there are other cards out there that can offer you a higher rewards amount for no annual fee.

Is there a bonus offer?

The Amex EveryDay rewards card has a sign-up bonus of 10,000 membership points when you make at least $1,000 in purchases in the first three months of your account opening. That’s a 10% return on the money that you would have spent anyway.

Are there foreign transaction fees?

There is a 2.7% foreign transaction fee on the amount of each purchase in U.S dollars. This is something that I don’t like considering that there are other no annual fee rewards cards that don’t have this fee. If buy products in foreign currency or you don’t travel abroad, then you don’t have to weigh too heavily on this.

Are there any other benefits?

The Amex Everyday rewards card offers extra benefits like:

  1. Car rental loss and damage insurance – the coverage offered by the rental company must be denied. Coverage is for $50,000 per rental agreement for damage or theft to the rental vehicle. Not all countries are included. Be sure to check the finer details
  2. Global assist hotline – you get 24/7 access to different kinds of services when you travel more than 100 miles from home. Services include medical, legal, financial or other select emergency coordination and assistance services, including medical and legal referrals, assistance with cash wires, passport replacement, missing luggage and more
  3. Entertainment access – you get exclusive access to a variety of tickets for a variety of events
  4. Fraud protection – you won’t be held responsible for fraudulent charges.
  5. Pay it plan it – you get two options to pay down the balance of your card

For more information on their benefits, check out their benefits page.

What is the interest rate and are there any other fees?

This card offers you a 0% introductory APR for 15 months from the date of the account opening. After the introductory APR ends, you can expect your APR to be between 12.99% and 23.99%; it depends on your credit score.

Their other fees include:

  1. Cash Advance fee – $10 or 5% of the amount of each cash advance, whichever is greater.
  2. Late Payment Fee –up to $40
  3. Return Payment Fee – Up to $40

For more information on their fees, check out their fee schedule.

How is the customer service like?

There are a couple of ways you can contact Amex’s customer service. The first and most common way would be to call the number on the back of the card. The second way to contact them would be through their online chat system; you would initiate this chat by logging into your account and clicking on the “Chat” icon. Your experience with their customer service may vary from time to time and from issue to issue.

Should you get the Amex EveryDay Credit Card?

Who it’s perfect for:

  1. People who want a no annual fee credit card
  2. People who want a sign-up bonus.
  3. People who want good benefits

Who it isn’t perfect for:

  1. Big spenders
  2. People who travel abroad or buy products that are in foreign currencies
  3. People who spend money across all different categories
  4. People who want a higher rewards amount

If you are still unsure if a rewards credit card makes sense, check out my post on Why You Should Use Rewards Credit Cards.

Additionally, if this card isn’t right for you, I invite you to check out my credit cards page for more information on other cards.

About the author

Mr. NahasFinance:

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