The American Express EveryDay Credit Card doesn't excel at any one thing. Instead, this is a credit card that offers a little bit of a lot and, if you end up liking it, it is easy to upgrade to a better AMEX card that offers enhanced versions of these benefits and rewards.
With no annual fee and low interest for the majority of cardmembers, this isn't a bad card to apply for or hold on to. The welcome offers are also a nice addition to what the American Express EveryDay Credit Card offers if you apply at the right time.
Who has received amex.us/aedrsvp invitations?
The American Express EveryDay Credit Card is a decent overall card for general purchases. What makes this different from the general-purpose credit cards others offer is that you can earn 2x points at supermarkets and can either transfer these points to another AMEX card for better rewards or use them on travel via the American Express rewards portal for up to a 4x return on points.
In short, this card has a very specific market if you want to make the most of it. The American Express EveryDay Credit Card is best for someone that spends up to $6,000 a year at supermarkets and likes to redeem reward points for travel.
Alternatively, this is also a good card to have if you appreciate the side benefits that AMEX offers on most of their cards, including this one, and don't have a general-purpose card already. If you manage to sign up at the right time and have a great credit score or better, this can also make an excellent balance transfer card, especially if you have a good history with AMEX.
The APR for the American Express EveryDay Credit Card starts low and reaches the average mark for a credit card of this type and tier. After any promotional APR period, the APR for purchases and balance transfers is 12.99% to 23.99%, this includes margin and the Prime Rate. As such, these numbers may change a small amount over time.
The APR for cash advances has no range and is set at the same rate for all qualifying card members. This rate is, at present, 25.24% and will vary with the Prime Rate. There is also penalty APR for accounts that miss or have returned payments up to 29.24%. This penalty will not apply for more than 6 months if no further payments are missed or returned.
- Annual Fee – There is no annual fee for the American Express EveryDay Credit Card.
- Cash Advance Fee – The cash advance fee for the American Express EveryDay Credit Card is the greater of $10 or 5% of the total of each cash advance.
- Foreign Transaction Fee – The foreign transaction fee for the American Express EveryDay Credit Card is 2.7% of each transaction after it has been converted to USD.
- Late Payment Fee – The late payment fee for the American Express EveryDay Credit Card is up to $40.
- Return Payment Fee - The return payment fee for the American Express EveryDay Credit Card is up to $40.
- Authorized User Fees – There is no authorized user fee or additional card fee for the American Express EveryDay Credit Card.
- Balance Transfer Fee – There is a balance transfer fee that will apply after the promotional APR period has ended or after 60 days, depending on which offer you have qualified for. Until this happens, there is no balance transfer fee for the American Express EveryDay Credit Card.
As it relates to rewards for pre-approved amex.us/aedrsvp potential cardholders,The American Express EveryDay Credit Card offers 1x points on all eligible purchases and 2x points at supermarkets and all transactions coded as supermarket or grocery transactions up to $6,000 in eligible purchases. Each point is generally equivalent to $0.01.
Points may be redeemed for special offers through the AMEX rewards portal for the standard exchange rate. They may also be used to pay for purchases. For a better exchange rate, points can be used to buy airfare and other air-travel-related services for up to 4x point value.
In addition to the standard method of earning points, there is a way to score a bonus on the points you have earned. When you make 20 or more eligible, separate purchases with your American Express EveryDay Credit Card during a billing period you earn a bonus. This bonus is equal to 20% of the points earned on those 20 or more purchases during each billing period.
There is no cap on how many bonuses you may earn. However, bonus points may take up to 12 weeks after the end of a billing cycle to apply to your account. A returned item will not negate a purchase, though it will decrease the number of points you will earn.
The American Express EveryDay Credit Card offers a lot of initial offers and rewards. These are its biggest perks.
- Double Points at Supermarkets – All purchases coded as supermarket purchases are eligible to earn 2x points.
- 20% Point Bonus – If you make 20 or more eligible purchases in one payment period, you can earn a bonus.
- 4x Point Redemption Rate on Travel – Through AMEX's travel website, it's possible to redeem points for much more than they would otherwise be worth.
- No Balance Transfer Fee – If you manage to get the American Express EveryDay Credit Card during a promotional APR period, the balance transfer fee is often waived for at least the first 90 days.
Most of the downsides of choosing the American Express EveryDay Credit Card are related to AMEX restrictions not outlines clearly in mail offers from amex.us/aedrsvp.
- High Credit Score Needed – To have high approval odds, you're going to need a score of 700 or more.
- Nearly Spot-Free Credit Score Needed – American Express has a lot of proprietary algorithms when it comes to approvals. For whatever reasons, they tend to rejected applications with certain blemishes more often than other credit card issuers.
- Limited Number of Cards – With American Express, customers generally can't have more than 5 open credit or charge card accounts at one time. However, it's fairly easy to ask for one card to be changed to another via upgrades and downgrades.
- Application Restrictions – AMEX likely won't approve you for another of their cards if they have rejected you for one in the past 6 or if you have been approved in the last 12 months. This rule only appears to apply to the credit card side, not to charge cards or a mix of applications. It may also be circumvented if you have a good record with AMEX or a high verifiable income.
In addition to the rewards and bonus programs, the American Express EveryDay Credit Card has a host of welcome offers. Not every cardmember will qualify for each offer or be able to take all of them, but most qualify for several. There is, at the time of this writing, an offer for 0% APR on purchases and balance transfers for up to 15 months. The balance transfer fee is also waived during this promotional period.
In addition, there is an offer for 10,000 bonus points if $1,000 in eligible purchases are made in the first 3 months of the account opening. These bonus points, if redeemed at the standard rate, are worth about $100 in rewards.
If you get an amex.us/aedrsvp offer at the right time, it's worth applying for the bonuses. This is also true if you have your eye on an upgraded version of this card or those that are similar. If so, you can pick up this version, earn the bonuses, and be upgraded in a year, typically with a better credit line that you would have gotten initially on a premium card.
Alternatively, the American Express EveryDay Credit Card does make a good all-purpose credit card for those that prefer simplicity and do a lot of their shopping at supermarkets. It also has low to average APR and no annual fee, making this a card that doesn't cost anything to have around.