Amex EveryDay Preferred Credit Card Review

 

 

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

Overall Verdict:  The Amex EveryDay Preferred rewards credit card is similar to it’s no annual fee sibling, the Amex EveryDay Credit Card. This rewards card offers you the opportunity to earn a good amount of points on certain categories, but there is a spending cap on one of the categories. This credit card does offer good benefits and some extra ways to earn bonus points, which I like. Another plus is the sign-up bonus that they have.

Some things about this card that I like:

1. Sign-up bonus
2. Benefits
3. Extra points opportunity

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

1. Annual fee
2. Spending cap on certain categories
3. Foreign transaction fee

What type of reward are you getting?

The Amex EveryDay Preferred rewards credit card offers you the opportunity to earn membership points for every dollar that you spend. After the end of the billing cycle, Amex takes the net purchase amount (purchases minus returns) and applies the reward amount to those purchases. Your membership points accumulate in your account until you are ready to redeem them. This specific Amex card offers many more ways to redeem your rewards than other Amex cards. You are not only able to apply your rewards as a statement credit, but you are also able to redeem your rewards for gift cards, merchandise, and entertainment. You are also able to use your points to pay for certain purchases directly. Furthermore, you are also able to transfer your membership points to their partner’s frequent traveler programs. This rewards credit card has so many ways to redeem rewards.

Is there an annual fee?

This rewards card has an annual fee of $95.

What is the rewards amount?

The Amex EveryDay Preferred rewards credit card offers you the chance to earn 3x points for every dollar that you spend at U.S supermarkets; however, you only get 3x points on up to $6,000 in purchases. After the $6,000 limit is reached, you will only earn 1x point for every dollar that you spend at the supermarkets. You will then earn 2x points on every dollar that you spend at U.S gas stations. All other purchases will earn you 1x points for every dollar that you spend. Amex does give you a couple opportunities to earn bonus points. The first way would be to use your card 30 or more times on purchases before the billing period ends. Once the target is reached, you will earn an extra 50% 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

Is there a bonus offer?

This Amex rewards credit card has a sign-up bonus of 15,000 membership points when you spend $1,000 or more in purchases in the first three months of the account opening. That’s a 15% return on the money that you would have spent anyway.

Are there foreign transaction fees?

The Amex EveryDay Preferred rewards credit card has a 2.7% foreign transaction fee on the amount of each purchase in U.S dollars. If you don’t travel abroad or buy products in a foreign currency, then I wouldn’t worry about this fee too much. If you do travel abroad or buy products in a foreign currency and need a no foreign transaction fee card, there are rewards cards that don’t have this fee.

Are there any other benefits?

The Amex EveryDay Preferred rewards credit 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
6. Return protection – you may return eligible purchases to Amex if the seller won’t take them back up to 90 days from the day you purchased the item, shipping and handling not included. This is up to $300 per item and up to $1,000 per calendar year.

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

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

The Amex EveryDay Preferred rewards credit 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 an APR between 12.99% and 22.99%; 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 their 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. It’s important to note that your experience with their customer service may vary from time to time and from issue to issue depending on the agent that you get.

Should you get the Amex EveryDay Preferred Credit Card?

Who it’s perfect for:

1. People who want a sign-up bonus
2. People who want the benefits and protection
3. People who spend primarily on the two higher reward categories

Who it isn’t perfect for:

1. People who spend in a variety of categories
2. People who want a higher rewards card on all categories and not just two
3. People who want more benefits
4. People who don’t want an annual fee
5. People who travel abroad or purchase products in a foreign currency

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.