American Express EveryDay® Preferred Credit Card Review

The American Express EveryDay® Preferred Credit Card is a versatile and rewarding option for consumers who want to maximize their points on everyday spending while enjoying a host of additional benefits. This card is particularly attractive to those who spend significantly on groceries and gas and want to earn rewards on everyday purchases. With a competitive rewards program, a generous welcome bonus, and a suite of travel and purchase protections, the EveryDay® Preferred card is designed to cater to a wide range of spending habits and lifestyle needs.

American Express EveryDay® Preferred Credit Card Key Takeaways

– Rewards Structure: Earn 3x points on groceries at U.S. supermarkets on up to $6,000 per year in purchases, 2x points on gas at U.S. gas stations, and 1x points on all other purchases.
– Welcome Bonus: Earn 15,000 Membership Rewards® Points after you spend $2,000 in qualifying purchases on the Card within your first 6 months of Card Membership.
– Annual Fee: $95 per year.
– Introductory APR: 0% Introductory APR for the first 12 months from the date of account opening on both purchases and balance transfers.
– Regular APR: 18.24% – 28.24% Variable APR.
– Credit Score Requirement: Excellent (740-799).
– Additional Benefits: Travel protections, purchase protections, and access to exclusive events and offers through the Membership Rewards® program.

American Express EveryDay® Preferred Credit Card Pros and Cons

Pros:

1. High Rewards Rate on Groceries and Gas: With 3x points on groceries and 2x points on gas, this card offers excellent rewards for everyday spending categories.
2. Generous Welcome Bonus: The 15,000 Membership Rewards® Points welcome bonus can be a significant initial boost, especially if you meet the spending requirement within the first six months.
3. Introductory 0% APR: The 0% introductory APR for 12 months on purchases and balance transfers gives new cardholders time to pay off large purchases or consolidate debt without incurring interest charges.
4. Flexible Travel Rewards: Points can be redeemed for a variety of travel options through the Membership Rewards® program, including flights, hotels, and car rentals.
5. Comprehensive Travel and Purchase Protections: Cardholders enjoy benefits like car rental loss and damage insurance, Global Assist® Hotline, and purchase protection, adding significant value for travelers and shoppers.

Cons:

1. Annual Fee: The $95 annual fee may deter some potential cardholders, especially those who do not maximize the card’s rewards and benefits.
2. Foreign Transaction Fee: This card is not ideal for international travel, as it charges foreign transaction fees.
3. High Penalty APR: A penalty APR of 29.99% can be steep if you miss payments, making it crucial to manage your account responsibly.

American Express EveryDay® Preferred Credit Card Benefits

Rewards Points

1. 3x Points on Groceries: Earn 3x points on groceries at U.S. supermarkets on up to $6,000 per year in purchases. This can translate to significant rewards for families and individuals who spend heavily on groceries.
2. 2x Points on Gas: Earn 2x points on gas at U.S. gas stations, making it a great option for commuters and road trippers.
3. 1x Points on Other Purchases: Earn 1x points on all other purchases, ensuring that every dollar spent with the card earns rewards.
4. 2x Points on Amextravel.com: When booking travel through Amextravel.com, cardholders can earn 2x Membership Rewards® Points.

Travel Benefits

1. Car Rental Loss and Damage Insurance: When you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter, you can be covered for damage to or theft of a rental vehicle in a covered territory.
2. Global Assist® Hotline: Provides 24/7 medical, legal, financial, and other select emergency assistance and coordination services whenever you travel more than 100 miles from home.
3. Travel Accident Insurance: Coverage for travel-related accidents when you use your card to purchase tickets for air, rail, ship, or bus travel.

Purchase Protections

1. Purchase Protection: Protects eligible purchases made with your card against accidental damage or theft for up to 90 days from the purchase date.
2. Extended Warranty Protection: Extends the original manufacturer’s warranty by up to one additional year on eligible purchases made with your card.
3. Return Protection: Provides coverage for eligible items purchased with your card if the merchant won’t accept the return within 90 days of purchase.

Additional Perks

1. Shop with Membership Rewards® Points: Use your points to shop for the latest tech, fashion, and events on membershiprewards.com.
2. Entertainment Access: Get access to exclusive events, presale tickets, and special offers through American Express Experiences.
3. Fraud Protection: Zero liability for unauthorized charges ensures peace of mind when using your card.

Conclusion

The American Express EveryDay® Preferred Credit Card is a well-rounded option for consumers who want to earn rewards on everyday spending, particularly on groceries and gas. With a strong rewards structure, a valuable welcome bonus, and a range of travel and purchase protections, this card offers substantial value for its $95 annual fee. However, it may not be the best choice for international travelers due to its foreign transaction fees and for those who do not spend enough to justify the annual fee.
Overall, if you have excellent credit and are looking for a card that rewards you for everyday purchases while offering valuable protections and perks, the American Express EveryDay® Preferred Credit Card is worth considering. Its combination of rewards, benefits, and flexibility makes it a compelling choice for many consumers.