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It can be tricky to figure out how to get the best value out of using credit cards for everyday purchases, because you often have to keep track of revolving rewards categories and varying rewards rates by purchase type. What sets apart the Amex EveryDay Preferred card from many cash-back credit cards is the rewards bonus you can get for using the card regularly, in addition to the common feature of higher rewards rates for everyday purchases like gas and groceries.
An Introduction to Amex EveryDay Preferred
Cardholders earn points using the 3-2-1 program. You will earn three points per dollar on the first $6,000 spent at U.S. supermarkets each year and one point per dollar after that. You’ll get two points per dollar at U.S. gas stations and one point per dollar on all other purchases.
One unique feature of the Amex EveryDay Preferred is the ability to earn 50% more points on every purchase (less returns and credits) when you use your card 30 or more times in a single billing cycle. You can also earn double points when you make eligible travel purchases with your card through AmexTravel.com, including airfare, hotel stays, vacation packages and cruise reservations.
Points are earned in the American Express Membership Rewards program and can be transferred to frequent-flier miles with multiple airline programs. In addition, points can be redeemed for gift cards, merchandise or travel reservations.
This card offers a 0% introductory APR for purchases and balance transfers for the first 12 months, and a variable annual interest rate of 13.99% to 23.99% after that, based on your creditworthiness. The Amex EveryDay Preferred card has a $95 annual fee.
What’s the Current Signup Bonus?
New applicants may be eligible to earn 15,000 Membership Rewards points after spending $1,000 in the first three months.
The Advantages of the Amex EveryDay Preferred Card
This card offers many ways to redeem your points, like shopping with points at Amazon or transferring points to the Plenti rewards program. You can also book travel at AmexTravel.com using points, as well as transfer your points to partner airline and hotel loyalty programs.
If you buy concert tickets often, you can make purchases on Ticketmaster with your points, as well as book Broadway and off-Broadway shows through Telecharge. You can also use points to pay for rides with Uber. You also can donate your points to charity or use points for retail, dining and grocery purchases on your card.
Cardholders may enjoy Entertainment Access or Membership Experiences to find discounts and presale tickets for sports events, concerts and exclusive cardmember only events. This card also offers many travel protections and services. If you are away from home and need help with a medical referral, translation services or travel advice, Global Assist will provide customs information, destination information and coordination and assistance services.
Cardholders also can benefit from luggage insurance for lost, damaged, or stolen bags, when you use your card to pay for the entire balance of an eligible car rental, you may waive the collision damage waiver and be covered by American Express for loss or damage to the auto. To determine coverage please check with American Express prior to renting a car.
In addition, American Express will match an original warranty period on items purchased with EveryDay Preferred when the original warranty is less than a year, and you will receive an additional year if the original manufacturer’s warranty is between 1-5 years. Finally, enjoy purchase protection up to $1,000 per qualified item for 90 days after a purchase for damage or theft.
The Disadvantages of the Amex EveryDay Preferred Card
This card has foreign transaction fees of 2.7% imposed on international transactions (after the conversion to U.S. dollars), so while you can book travel with your Membership Rewards points, travelers who frequently leave the country may be better served by a card with no foreign transaction fees for non-U.S. purchases.
If you want to apply for the Amex EveryDay Preferred Card, you should also be aware that you’ll need a good or excellent credit score. If you don’t know where your credit stands, you can check two of your credit scores for free on Credit.com and get matched to other credit cards you qualify for based on your credit profile.
Who Is This Card Right For?
This card is best for someone who spends a lot on groceries and uses primarily one card. While some people would use one card on gas and groceries and another card for other purchases, the best way to take advantage of this card is to use it almost exclusively in order to get the 50% points bonus each month. A consumer who also wants flexibility in rewards and no revolving categories will love this card as well, since points can be redeemed in a variety of ways.
Frequently Asked Questions About the Amex EveryDay Preferred Card
Who can I transfer points to?
Airline partners include AeroMexico, Air Canada, Air France KLM, Alitalia, All Nippon Airways, Asia Miles, British Airways, Delta, El Al, Emirates, Etihad, Hawaiian Airlines, Iberia Airlines, JetBlue, Singapore Airlines, Virgin America and Virgin Atlantic. Hotel loyalty program partners include Choice Privileges, Hilton HHonors and Starwood Preferred Guest.
How do I earn the 50% extra Membership Rewards points?
In order to receive the 50% extra Membership Rewards points, you must make 30 or more separate purchases each billing cycle. Purchases do not include cash advances or balance transfers. Purchases of travelers checks, purchases or reloading of prepaid cards or purchases of other cash equivalents are not eligible, either. Any returns or credits do not reduce your purchase count, but they will decrease the number of points and extra points you can earn.
At publishing time, the Amex EveryDay Preferred card is offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for this card. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer(s).
Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.
This article has been updated. It was originally published on February 29, 2016.