Amex EveryDay® Preferred Credit Card
The American Express EveryDay Preferred credit card is one of the most lucrative cards in the ever- popular Membership Rewards program. Because of the fantastic rate at which you can earn points that are fully transferrable to any Membership Rewards travel partner, this card is well-liked among Amex loyalists.
Other than its cousin, the standard EveryDay card, the Preferred card is the only entry in the Membership Rewards lineup that earns a percentage bonus on all purchases. You’ll get a generous 50 percent bonus points as long as you make at least 30 purchases each month. The card also has category bonuses for gas and groceries, making it a tremendous choice to quickly stockpile highly valuable points, which we’ll cover in more detail below.
Additionally, this card comes with many of the standard features and benefits that have made American Express a leader in the credit card industry. From purchase protection to exceptional customer service, seasoned customers love the reliability of American Express. When they introduced this card, which is intended for a wider audience, they kept the features that their loyal customers love.
Bonuses and Benefits
Knowing what benefits come with a credit card can help you decide if it’s a good fit for you. Here we cover the bonuses and perks that the Amex EveryDay® Preferred Credit Card offers and the value of the AMEX Membership Rewards® points you earn.
The sign-up bonus for the EveryDay Preferred is 15,000 Membership Reward points after spending a mere $1,000 within the first three months. While this may not seem like a huge bonus compared to what else is out there, this card earns points at a faster rate than many other cards in Amex’s lineup. It also comes with a lower annual fee. While the sign-up bonus isn’t huge, your everyday spending on this card will add to your points balance fast! On top of that, you can earn 2X points at AmexTravel.com.
You can earn a 50 percent bonus on all your points if you make at least 30 purchases each statement cycle. That’s a great benefit on its own. Suppose in a billing period you make 30 purchases totaling $500 and you return a $200 item that you purchased in the same or prior billing period. The return does not reduce your purchase count, but it does reduce the points earned on those purchases from 500 to 300. So, in this example you would earn 50 percent extra on those 300 points.
What You Get
- Earn 15,000 points after you spend $1,000 on purchases in the first 3 months
- Get 50% bonus points if you make 30 or more purchases in a month
Any points you earn are part of the American Express Membership Rewards program and will not expire as long as you have at least one open Membership Rewards credit card. But because you can effectively earn a minimum of 1.5X points on all purchases on this card, you should plan to keep it for years to come. However, if you transfer your points to certain airline or hotel partners, they become part of that loyalty program and are subject to its terms and conditions, which could lead to their expiration if they’re not used within a certain time period.
What is the value of the Membership Rewards® Points?
Membership Rewards points can be used for a variety of redemptions. While statement credits and merchandise are options, the best use of points is toward travel, particularly if you transfer your points to one of American Express’ multiple airline and hotel partners. Two of their most popular partners are Delta SkyMiles and Air Canada Aeroplan, but like with all transferrable points programs, once you convert your points into airline miles or hotel points, you’re now subject to the rules of that program. Nonetheless, this is where you can get the most value for your points, particularly when it comes to long-haul premium cabin travel.
What is CPM and How Is It Calculated?
Cents Per Mile (CPM) is a way to measure the value of miles. It tells you how many cents you get for each mile you redeem by dividing the cash price of the airline ticket (minus taxes and fees charged for an award ticket) by the number of miles the award flight costs. This is a somewhat subjective calculation because the price of the flight in both cash and miles fluctuates by season and availability.
How we calculate CPM:
The Best Ways to Redeem Membership Rewards Points
As mentioned above, the best way to redeem Membership Rewards points is by transferring them to Amex’s travel partners. Like Chase Ultimate Rewards and Citi ThankYou, Amex has some unique as well as shared travel partners. But unlike fixed-value points cards (like the Discover it card and the Barclays Arrival Plus card) or co-branded airline cards, Membership Rewards points are more valuable as you are protected from hotel and airline devaluations.
For example, if British Airways (an Amex transfer partner) decides to increase the number of miles needed to book award tickets, you could transfer your points to another Amex partner instead. If you solely collected British Airways Avios, you’d be stuck with them. But by keeping points in your Membership Rewards account, you don’t need to transfer them to a partner until you’re ready to use them.
Austin–New YorkEconomy classMiles price15,000points+$29 feeDollars price$299
Chicago–Los AngelesEconomy classMiles price24,700points+$0 feeDollars price$247
Seattle–DenverEconomy classMiles price18,600points+$0 feeDollars price$186
New York–MoscowEconomy classMiles price51,500points+$251 feeDollars price$810
Los Angeles–ParisEconomy classMiles price49,750points+$300 feeDollars price$1,605
Houston–FrankfurtEconomy classMiles price49,750points+$360 feeDollars price$1,777
Miami–HonoluluBusiness classMiles price80,000points+$20 feeDollars price$2,083
Miami–WashingtonBusiness classMiles price52,900points+$0 feeDollars price$529
Pittsburgh–HoustonBusiness classMiles price50,000points+$13 feeDollars price$827
Washington–PortoBusiness classMiles price88,000points+$503 feeDollars price$5,041
Los Angeles–Tel AvivBusiness classMiles price104,000points+$395 feeDollars price$4,403
Atlanta–MadridBusiness classMiles price88,000points+$654 feeDollars price$4,044
Other ways you can redeem points
Hotel Stays3 partners3 part.
In addition to transferring points to airlines, you can also transfer them to select hotel loyalty programs.
Cash Back3 partners3 part.
Points can also be used to pay for purchases at certain retailers like Amazon and McDonald’s, but the value of yours points diminishes greatly with these types of redemptions.
Gift Cards4 partners4 part.
It’s also possible to redeem points for gift card from major retailers.
Car Rental4 partners4 part.
While you cannot transfer points directly to car rental loyalty programs, but you can use points to book rental cars through Amex’s travel portal.
The Amex EveryDay Preferred card is a great card to use every day! Assuming you make at least 30 purchases each month, you’ll earn 1.5 points per dollar. But it gets better. If you use your card at gas stations, you’ll earn an extra point per dollar. With the 50 percent bonus, that’s really like getting 3X points on gas. But it doesn’t stop there, the card also gets 3X points on grocery stores. Couple that with the 50 percent bonus and you’re now earning 4.5X on your grocery purchases. That’s an amazing category bonus!
- All Other Purchases
Foreign Transaction Fee
Although this card has many great benefits, it does not waive foreign transaction fees. You’ll pay 2.7% of each transaction after conversion to U.S. dollars.
Sign up for a complimentary Shoprunner membership for free 2-day shipping with select online retailers.
Earn Elite Status Fast
Although this is a great card for earning Membership Rewards, it isn’t tied to any specific hotel or airline program, so it won’t help you earn elite status.
Fees: the cost of Having the Card
Great benefits come with a cost, but the annual fee is very manageable at $95. Let’s assume Membership Rewards are worth about 1.81 cents each. You’d need to make $5,249 in purchases each year to offset the cost of the card, and that’s assuming you’re earning points at the absolute minimum of 1X. That comes out to about $437 per month. However, if you spend about $2,000 per month on the EveryDay card, you’ll pay off the fee in about 3 months.
The value of the 15,000 points sign-up bonus is another way to offset the annual fee. Those bonus points are worth at least $271, so it can cover almost three years’ worth of annual fees. Again, this is assuming you’re earning the bare minimum of 1X on every purchase, but if you put a good bit of your everyday spending on this card, you’ll earn far more points than that.
- Balance Transfer Fee
- Either $5 or 3% of the amount of each transfer, whichever is greater
- Foreign Transaction Fee
- 2.7% of each transaction after conversion to US dollars
- Late Payment Fee
- Up to $38
- Annual Fee
See What It Takes to Cover an Annual Fee:
We strongly recommend to spend not less than $1,750 per months to cover the annual fee in three months.
We’ve broken out our estimates for the first- and second-year net earnings you’ll get with the Amex EveryDay® Preferred Credit Card. Is the card worth getting, and should you keep it after you get the sign-up bonus? Let’s find out.
These estimates are based on an annual monthly spend of $2,000
Top 5 Benefits of the Amex EveryDay® Preferred Credit Card
A few reasons this is one of Amex’s best cards include the low annual fee and the rapid pace you can earn Membership Rewards points. What’s more, these points can be highly lucrative. Here are the top 5 benefits of this card.
- Great Earning Potential: This card offers 3X on groceries, 2X on gas, and 1X on all your other purchases.
- 50% Bonus on Every Purchase: If you make at least 30 purchases every month, you’ll get a 50% bonus on all your points. Watch them add up fast!
- Great Sign-Up Bonus:This card comes with a sign-up bonus of 15,000 points. That’s worth at least $271, but potentially much, much more.
- Great Rewards Currency:This card earns awesome Membership Rewards points that are normally found on Amex’s high-end cards. You can transfer these points to over 20 partners to maximize their value.
- Low Annual Fee:The point-earning potential with this card is tremendous, and at only $95 per year, this card more than pays for itself.
Should You Get the Amex EveryDay® Preferred Credit Card?
If you value Membership Rewards, you need to seriously consider getting this card. Not only are Amex points among the best type of points to collect, but the accelerated earnings rate is among the highest of any credit card, not just American Express cards. With a low annual fee, you can be earning at least 1.5X on all purchases with higher earnings with category bonuses for gas and groceries. This could really be your everyday card!
If you don’t put a lot of spend on credit cards, or if you’re not interested in paying annual fees, this card might not be for you. But if you’re interested in travel rewards and the ability to earn them quickly, this card should be at the top of your wish list. Because Amex has so many airline partners, there really is something for everyone.
Need more info? Check out our frequently asked questions. If you have other questions, please click on “Ask Now” below.
- You bet, and American Express makes it easy. After you have one card that earns Membership Reward points, Amex enrolls you in the program, and any subsequent cards you receive will earn points automatically in the same account. There’s nothing you need to do. This is one advantage Amex has over Chase and Citi: you don’t have to worry about combining your points from your various cards.
Membership Rewards are diverse in that you have a variety of partners and options for redeeming your points, and that includes how many points you want to cash in at one time. As we’ve discussed, the best bang for your award buck is to use your points toward travel. If you redeem for gift cards or merchandise, there is less flexibility in how many points you’ll need for a redemption, but you can choose what is best for you.
If you want to use your points to pay for trips through Amex Travel, you can choose the exact number of points you wish to redeem. However, if you choose to transfer points to one of their travel partners, it’s up to each individual program to set the number of miles or points you’ll need for a free flight or hotel room.
- How long does it take points to transfer to Amex’s travel partners?There’s not a set answer because it varies by partner. Some transfers are instant, some may take a couple hours, and some may take a couple days. Before you transfer your points to a partner, we always recommend you find availability for the award because you can’t transfer your points back to Amex.
Should I get this card even if I have other Amex’s that have high category bonuses like the Premier Rewards Gold or Platinum?Absolutely! The EveryDay Preferred card can be a great part of a larger credit card strategy. If you have the Premier Rewards Gold Card from American Express, you could use it for dining (2X), and if you have the Platinum Card® from American Express, you could use it for airfare (5X). Then, you could use your Amex EveryDay® Preferred Credit Card for all your other purchases. At minimum you’re earning 1.5X on every purchase you make. And because your Membership Reward points pool automatically, all the points you earn collect in the same account.
Other Membership Rewards cards
American Express offers several great cards that earn Membership Rewards. The points you earn on the cards below all combine automatically and can be redeemed in a variety of ways. Because of these great rewards, most cards have an annual fee.
|American Express® Green Card||Amex EveryDay® Credit Card||Premier Rewards Gold Card from American Express|
|Sign-up bonus||0 points||15,000 points||10,000 points||25,000 points|
|Annual Fee||$0 first year, then $95||$95||$0||$0 for the first year, then $195|
|APR On Purchases||N/A||13.99% to 23.99% Variable±||13.99% to 24.99% Variable±||N/A|
|Second Year Value||$434||$434||$434||$434|
The only card in this list that doesn’t have an annual fee is the standard EveryDay card. And while it’s a free card, you won’t earn points as quickly as with the EveryDay Preferred. While the Green card doesn’t have an annual fee the first year, the only category bonus you can earn is double points on purchases made directly with Amex Travel.
The Premier Rewards Gold card offers 2X on gas, groceries and dining, and it earns 3X on airfare. This is a great card, but the annual fee is also higher at $195. For everyday spending, the winner is the EveryDay Preferred. Also, the Premier Rewards Gold card comes with a $100 airline credit which the EveryDay cards do not offer. The PRG card also waives foreign transaction fees. But again, while this card does have different benefits, its annual fee is higher.
The Green card isn’t really a contender. And the EveryDay is great if you aren’t willing to pay an annual fee. While the Premier Rewards Gold does have similarities to the EveryDay Preferred, it doesn’t offer the 50 percent bonus at the end of each month, so the Preferred card can actually earn you a higher rate of return on gas and groceries, not to mention non-category spending.
Compare the Amex EveryDay® Preferred Credit Card to Other Cards
The EveryDay Preferred card is similar to some cards offered by other banks. As you’ll see below, it earns transferrable points like the Citi ThankYou Preferred and Starwood Preferred Guest, and these cards have comparable sign-up bonuses.
There are many differences between these cards. For a starter, the EveryDay Preferred is the only card that gets you a 50 percent bonus on every purchase each month. With the Discover it Cashback Match card, you have to wait until the end of the year to get your bonus. Plus, that card doesn’t give you the ability to transfer to leading travel loyalty programs, allowing you to stretch your points’ value. And, it only earns 1X on base purchases with rotating category bonuses you have to enroll in each quarter.
The Citi ThankYou Preferred card doesn’t have an annual fee, but it also has lower earning rates. You get 2X on dining and entertainment and 1X everywhere else. Plus, there’s no opportunity for additional bonus points. And while Citi does offer the ability to transfer points, the Membership Rewards program has a larger and better selection of partners.
While the Starwood Preferred Guest card is popular, it only earns 1X on every purchase unless you stay at a Starwood or Marriott property (where you’ll earn 2X on your stay). The SPG program does offer more transfer options, as well as the ability to redeem rewards for free hotel nights, but there are only two credit cards that earn these rewards (the personal and business versions). You can’t pair these cards to earn any category bonuses. Additionally, the fate of the SPG program still looms with its pending merger with Marriott.
Whenever you apply for a credit card make sure you read the terms and conditions of the card and the rewards program to find out about minimum spend requirements and any restrictions to ensure you can successfully obtain the card and earn the rewards it offers.
Card Terms and Conditions
While it's easy to focus on the rewards offered by the Amex EveryDay® Preferred credit card, it's worth taking a closer look at the terms and conditions. There's a lot to consider as you think about how you're going to use the card. Will you carry a balance, get a cash advance or maybe make a big purchase? Below is a rundown of the various interest rates, purchase protections, security features and mobile banking options that come with the Amex card.
- Minimum Grace Period:
- 25 days
- Intro APR for balance transfers:
- 0% introductory APR for the first 12 months on balance transfers requested within 60 days of account opening
- Ongoing APR:
- 13.99% to 23.99% Variable±
- Intro APR:
- 0% introductory APR for the first 12 months
- Extended Warranty Protection:
- The EveryDay Preferred card offers anextended warranty on your high-ticket purchases. The length of your warranty can be matched for up to 1 additional year when you use your card for eligible purchases that come with an original U.S. manufacturer's warranty of 5 years or less. Coverage is limited to $10,000 per item and $50,000 per calendar year.
- Purchase Protection:
- You’re covered against damage or theft with every purchase. This coverage applies for up to 90 days at $1,000 per occurrence and $50,000 per year.
- Return Protection:
- This card offers Return Protection in the event a merchant won’t accept your return. If you try to return an eligible item purchased with your card within 90 days from the date of purchase and the merchant won't take it back, Return Protection may provide a refund. Limited to $300 per item and $1,000 per calendar year.
Cash Advance Features
- Ongoing APR:
- 26.24% Variable±
- Cash Advance Fee:
- Either $5 or 3% of the amount of each cash advance, whichever is greater
Security and Protections
American Express has an excellent reputation for protecting you in the event your card is lost or stolen, including fraud protection. Amex is known to be a generous issuer, helping its members when something goes wrong. Here’s a list of security features that come with your card.
- Account alerts:
- Set up email, text or push alerts to be notified whenever there’s a large transaction on your account or an unauthorized withdrawal occurs, or when it’s time to pay your bill.
- Banking on the Go:
- Amex offers an easy-to- use mobile app to keep track of your account no matter where you may be.
- EMV Chip Technology:
- Amex cards offer chip technology for greater worldwide acceptance..
- Credit Score Reports:
- Amex makes it easy to keep an eye on your credit by offering a free FICO score available online.
- Dispute Resolution:
- If there is a fraudulent or incorrect charge on your statement, American Express will work with you to help resolve the issue.
In our fast-paced world, it’s great to have access to a free mobile app to not only monitor your account, but also access a lot of the American Express website features straight from your smartphone. Banking on the go has never been more convenient or secure. Apple Pay, Android Pay, and Samsung Pay are all available with your EveryDay Preferred card.
Additional Cardholder Benefits
One great thing about the EveryDay Preferred card is the wealth of travel benefits offered through American Express.
American Express Travel Benefits
- Auto Rental Collision Damage Waiver:
- If you pay for your entire rental with your Amex EveryDay Preferred, you get secondary collision coverage for theft and collision for most rentals in the U.S. and abroad.
- Roadside Assistance:
- Need a tow or help changing a flat tire? Roadside assistance is available in the U.S., Canada, Puerto Rico and USVI. Third party charges apply.
- Travel Accident Insurance:
- Your card provides coverage for accidental death and dismemberment when traveling on a common carrier and you charged your entire fare to the card.
- Global Assist Hotline:
- Get 24/7 access to medical, legal, financial or other select emergency assistance, like passport replacement, wiring money, missing luggage and more. Third party charges apply.