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Amex EveryDay Review: A Rewarding Option to Pay Down Debt

June 21, 2018
Amex EveryDay Credit Card: Swipe Your Way To Membership Rewards
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The Amex EveryDay® Credit Card from American Express has long been something of an oddity — a ho-hum rewards card whose most remarkable feature was that it was the only $0-annual-fee consumer American Express card to give out travel-friendly Membership Rewards points. But American Express has now added superior balance-transfer benefits to the card. It’s still odd, but it’s a lot more valuable.

As you’d guess from the name — and from the bonus it gives you for using it frequently — The Amex EveryDay® Credit Card from American Express is intended to be a use-everywhere, all-the-time card. As a rewards card it still delivers mediocre value — but as a balance transfer card, it can be a ticket out of debt.

The Amex EveryDay® Credit Card from American Express

The Amex EveryDay® Credit Card from American Express

Apply Now on American Express's secure site
  • Recommended Credit Score
  • 690
    850
    Good - Excellent
  • Card Details
  • Pros

    • High rewards rate
    • No annual fee

    Annual Fees

    $0

    APR

    • APR: 14.74% - 25.74% Variable APR
    • Penalty APR: 29.99%, Variable
    • Cash Advance APR: 26.99%, Variable

    Bonus Offers

    Earn 10,000 Membership Rewards® points after you use your new Card to make $1,000 in purchases in your first 3 months. Terms Apply

    Intro APR

    • 0% on Purchases and Balance Transfers for 15 months
  • Additional Information
    • Earn 10,000 Membership Rewards® points after you use your new Card to make $1,000 in purchases in your first 3 months.
    • Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 14.74% to 25.74%.
    • $0 balance transfer fee. Balance transfers must be requested within 60 days from account opening.
    • 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x); 1x points on other purchases.
    • Use your Card 20 or more times on purchases in a billing period and earn 20% more points on those purchases less returns and credits.
    • Over 1.5 million more places in the U.S. started accepting American Express® Cards in 2017.
    • No annual fee.
    • Terms Apply.

» MORE: NerdWallet’s best rewards credit cards

The Amex EveryDay® Credit Card from American Express: Basics and benefits

The problem with most balance-transfer credit cards is that they don’t give you any reason to keep using them once your introductory 0% interest rate ends. Their ongoing APRs aren’t particularly low, and they seldom offer rewards. The Amex EveryDay® Credit Card from American Express is an exception.

As a balance-transfer card

The Amex EveryDay® Credit Card from American Express gives you the “three zeroes” that identify a top-notch balance-transfer card:

  • $0 balance-transfer fee on transfers requested within 60 days from account opening
  • $0 annual fee
  • 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 14.74% - 25.74% Variable APR

Only a handful of other credit cards offer this combination of money-saving benefits. Balance-transfer fees, for example, typically cost 3% to 5% of the amount transferred, which comes to $30 to $50 on each $1,000 transferred. With The Amex EveryDay® Credit Card from American Express, you can use that money to pay down your transferred debt more quickly.

As a rewards card

With this card, you get:

  • 2 Membership Rewards points for every dollar spent at U.S. supermarkets (on up to $6,000 a year in spending, then 1 point per dollar)
  • 2 points per dollar on eligible travel purchases booked through amextravel.com
  • 1 point per dollar on all other purchases
  • A 20% points bonus for each billing period in which you use the card at least 20 times
  • A modest offer for new cardholders: Earn 10,000 Membership Rewards® points after you use your new Card to make $1,000 in purchases in your first 3 months. Terms Apply.

» MORE: American Express credit cards mobile app review

The bonuses offered by The Amex EveryDay® Credit Card from American Express are relatively modest, but they’re certainly better than no bonuses at all, which is what some no-fee cards give you. NerdWallet values Membership Rewards points at an average of 1 cent apiece. So a 10,000-point offer equates to $100.

Then there’s the 20% points bonus for using the card 20 or more times in a billing period. Assuming you get a value of 1 cent per point, that boosts your effective rewards rate to 1.2% on purchases, and 2.4% in the bonus categories. However, plenty of other cards offer better rates.

Membership Rewards points are flexible. They can be redeemed for travel, cash, gift cards and more. They can also be transferred to the loyalty programs of partner airlines and hotel chains. Be aware that some options give you less than a penny’s worth of value per point. Minimum redemption is 5,000 points.

» MORE: NerdWallet’s best travel credit cards

The Amex EveryDay® Credit Card from American Express: Drawbacks

The Amex EveryDay® Credit Card from American Express offers an interesting assortment of benefits, but under its current terms, it’s best used as a balance-transfer credit card. As a rewards card, it doesn’t offer the best value.

You can earn higher rewards for $0 a year

American Express itself offers another $0-annual-fee card with better rewards at U.S. supermarkets. The Blue Cash Everyday® Card from American Express offers 3% cash back at U.S. supermarkets (on up to $6,000 annually, then 1%), 2% at U.S. gas stations and select U.S. department stores and 1% on everything else. The card comes with a similar bonus offer, too: $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. Terms Apply.

Meanwhile, the Citi® Double Cash Card – 18 month BT offer earns 1% cash back on every dollar you spend, then an additional 1% cash back for every dollar you pay off — effectively doubling the base rate of The Amex EveryDay® Credit Card from American Express. It’s better suited as a rewards card. It offers balance transfers, but you’ll get charged a fee of $5 or 3% of the amount transferred, whichever is greater. This card also has an annual fee of $0, although it has no sign-up offer.

IT CHARGES FOREIGN TRANSACTION FEES

Although The Amex EveryDay® Credit Card from American Express attempts to appeal to travelers with bonus rewards for certain travel, it’s not a good card to take with you abroad, since it charges a foreign transaction fee of 2.7%. The Capital One® Venture® Rewards Credit Card charges no such fees. Further, its rewards are more flexible for travelers. You earn 2 miles for every dollar spent, and miles can be redeemed for a credit on your statement against any travel purchase — no matter how you booked it. This card comes with a hefty sign-up offer: Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel. There is an annual fee, however: $0 for the first year, then $95.

IT REQUIRES GOOD CREDIT

The Amex EveryDay® Credit Card from American Express requires good to excellent credit, as many balance transfer credit cards do. If your credit is average, the Chase Slate® has a $0 annual fee. It offers 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 16.49% - 25.24% Variable APR. You’ll pay no balance transfer fees for transfers made during the first 60 days of opening your account. The card doesn’t earn rewards, but they are not essential if the goal is to pay down debt.

The Amex EveryDay® Credit Card from American Express: Is it right for you?

The Amex EveryDay® Credit Card from American Express excels as a balance transfer credit card. If you have good credit and need to pay off credit card debt, this card can offer time to catch up on payments.  

As a rewards credit card, it isn’t a bad card and it doesn’t cost you anything to carry. But there are much better rewards cards available for everyday and travel spending.

Melissa Lambarena is a staff writer at NerdWallet, a personal finance website. Email: mlambarena@nerdwallet.com. Twitter: @LissaLambarena.