Update: The American Express EveryDay cards are now open for applications. Visit the American Express EveryDay website to apply, or consider downgrading your Amex card to the no annual fee EveryDay card to keep your valuable Membership Reward points and avoid the hefty annual fees.
American Express has just debuted two new credit cards to broaden its customer base and provide its first no-fee credit card giving cardholders access to its Membership Rewards program. Read more about Membership Rewards points and discover the value of this great reward program. Amex is filling a void in their portfolio of credit cards to appeal to those looking for a no-fee card and still earn valuable reward points. The card will be promoted by Tina Fey in this pretty funny commercial airing during the Oscars tonight and will be ready for applications starting April 2, 2014. Sign up your email at americanexpress.com/everydaycard to be notified when the application open up.Looks like Amex is really trying to market these cards and get the word out on why they want you to make this card your everyday card. Here’s the breakdown:
American Express EveryDay No-Fee Card
- Earn 10,000 Membership Reward points after spending $1,000 in the first 3 months. Not the greatest sign up bonus but the card earns Membership Reward points without an annual fee
- No annual fee
- Earn 2x points when you shop at US supermarkets capped at up to $6,000 in purchases each year, and 1x points on all other purchases
App to let you know when you reach 20 purchasespoints on all other purchases
- Use your Card to make 20 or more purchases in any billing period and earn 20% extra points on all those purchases made in that period
- Enjoy Amex’s famous Fraud Protection Guarantee, which means you won’t be held responsible for any fraudulent charges when you use your Card
- 0% introductory rate on purchases and balance transfers for the first 15 months
American Express EveryDay Preferred Card
- Earn 15,000 points when you spend $1,000 in the first 3 months
- $95 annual fee
- Earn 3x Membership Rewards points at U.S. supermarkets capped at up to $6,000 per year on purchases, 2x on US gas stations, and 1x points on all other purchases
- Use the Card to make 30 or more purchases in a billing period and earn 50% extra points on all of those purchases
- Enjoy Amex’s famous Fraud Protection Guarantee, which means you won’t be held responsible for any fraudulent charges when you use your Card
- 0% introductory rate on purchases and balance transfers for the first 15 months
The All-New American Express EveryDay Card
The Verdict
It’s about time American Express offered a card with no annual fee and a card with a lower fee than their Platinum and Gold Rewards cards. The sign up bonuses aren’t great so I don’t really like the preferred card as much as the no-fee card. The no-fee card is a great option for those of you looking to downgrade from the Amex Platinum or Gold cards and keep your Membership Rewards points without having to unload them. Unfortunately, these cards carry foreign transaction fees so I wouldn’t consider using this card as Chase offers many great no foreign transaction fee cards.
The EveryDay cards are ideal for cardholders who like to make several small purchases and can reach the 20 or 30 purchase thresholds to achieve the 20% and 50% bonuses. The bonus categories at supermarkets and gas stations is also great but it’s unfortunate that American Express is capping those bonuses at $6,000 per year. It’s the same cap that American Express employs with their Blue Cash Everyday and Blue Cash Preferred cards that 3% and 6% cash back respectively at US supermarkets capped at $6,000 per year.
I would definitely recommend the no-fee card as a great option to keep your Membership Reward points when downgrading from an American Express annual fee card or as a card to start earning MR points without paying a fee. MR points transfer to over a dozen airlines and a couple of hotel chains. Compared to the other Amex cards, these cards carry a lower signup bonuses and not as many perks like the Platinum card’s lounge access and Premier Gold Rewards card that offers some really great bonus point spend categories. But for a way to keep your MR points and start accumulating MR points, then you should consider applying for the no fee card. Stay tuned for more updates as the EveryDay card’s application date nears. If you are ready to downgrade your fee card, wait just a bit longer and grab the EveryDay no fee card on April 2, 2014!
Membership Rewards transfer partners