Amex EveryDay Review: A Debt-Busting Card With Rewards

Unlike most cards with outstanding balance transfer benefits, this one gives you a good reason to keep it in your wallet after the 0% period ends.

Melissa LambarenaSeptember 27, 2018

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THIS PAGE MAY BE OUT OF DATE

This page includes information about one or more products not currently available on NerdWallet:

  • Capital One® Venture® Rewards Credit Card

  • Discover it® Balance Transfer (No longer in market)

  • Amex EveryDay® Credit Card

  • Citi Simplicity® Card - No Late Fees Ever

As a result, offers described on this page may be out of date. See our NerdWallet’s Best Credit Cards page for updated offers.

Our Take

5.0

NerdWallet rating 

The bottom line: It isn't spectacular as a rewards card. But it's one of the best balance-transfer cards currently available.

Best Balance-Transfer Credit Card

American Express Amex EveryDay Credit Card

Amex EveryDay® Credit Card

Annual Fee

$0

Regular APR

14.49% - 25.49% Variable APR

Intro APR

0% Intro on Purchases and Balance Transfers for 15 months

Recommended Credit Score

Quick FactsView rates and fees

Pros & Cons

Pros

  • Decent rewards rate

  • No annual fee

  • $0 balance transfer fee for 60 days

Cons

  • Foreign transaction fee

  • Longer 0% intro APRs available elsewhere

  • Higher rewards available elsewhere

Alternate Pick: Richer rewards

Discover it® Balance Transfer (No longer in market)

Up to 5% cash back + an intro 0% APR

This card gives you 5% cash back in categories that you activate, on up to $1,500 in spending per quarter, and 1% on all other spending. It also gives you a nice long 0% period for transfers: 0% on Purchases for 6 months and 0% on Balance Transfers for 18 months, and then the ongoing APR of 11.99% - 22.99% Variable APR.

Read our review

Compare to Other Cards

Citibank Simplicity Credit Card

Citi Simplicity® Card - No Late Fees Ever

Annual Fee

$0

Annual Fee

$0

Regular APR

13.99% - 23.99% Variable APR

Regular APR

14.74% - 24.74% Variable APR

Intro APR

0% on Balance Transfers for 18 months

Intro APR

0% on Purchases for 12 months and 0% on Balance Transfers for 21 months

Recommended Credit Score
Recommended Credit Score

Full Review

As a rewards card the Amex EveryDay® Credit Card is something of an oddity — a ho-hum card whose most remarkable feature used to be that it was the only $0-annual-fee consumer American Express card to give out travel-friendly Membership Rewards points. But when you consider that it also offers superior balance-transfer benefits, 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 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.

Nerd tip: This card's cousin is The Amex EveryDay® Preferred Credit Card from American Express. It has an annual fee of $95 and lacks the balance transfer benefits of the lower-cost Amex EveryDay® Credit Card, but the Preferred version has a more robust welcome offer and higher rewards rates. Terms apply. For more information about that card, see our review.

Amex EveryDay® Credit Card: Basics and benefits

Card type: Balance transfer and Rewards.

Annual fee: $0.

Rewards: 

  • 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.

Membership Rewards points are worth about 0.5 cents to 1 cent each depending on how you redeem them. Travel and gift card redemptions are generally the most valuable. Points are also transferable and can be worth even more if redeemed strategically after being transferred to other loyalty programs.

Airlines:

  • Aer Lingus.

  • AeroMexico.

  • Air Canada.

  • Air France/ KLM.

  • Alitalia.

  • ANA.

  • Avianca.

  • British Airways.

  • Cathay Pacific.

  • Delta Air Lines.

  • El Al Israel Airlines.

  • Emirates.

  • Etihad Airways.

  • Hawaiian Airlines.

  • Iberia Plus.

  • JetBlue Airways.

  • Qantas.

  • Singapore Airlines.

  • Virgin Atlantic Airways.

Hotels:

  • Choice Hotels.

  • Hilton Hotels & Resorts.

  • Marriott Hotels & Resorts.

For transfer ratios, see AmEx's website.

Welcome offer: 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..

An intro APR of: 0% Intro on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 14.49% - 25.49% Variable APR

Balance transfer fee: $0.

Foreign transaction fee: 2.7% of each transaction after conversion to US dollars.

Terms apply.

How it rates As a balance-transfer card

A big 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 is an exception.

The Amex EveryDay® Credit Card 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% Intro on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 14.49% - 25.49% 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, you can use that money to pay down your transferred debt more quickly.

How it rates As a rewards card

The rewards offered by the Amex EveryDay® Credit Card are relatively modest, but they're certainly better than no bonuses at all, which is what many 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.

Amex EveryDay® Credit Card: Drawbacks

The Amex EveryDay® Credit Card 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 find longer terms elsewhere

There are typically two main choices when it comes to picking a balance transfer card: Either choose the card that gives you the longest amount of time to pay down your debt, or choose the card that will cost you the least to do a transfer. If you don't think you'll be able to pay off your balance during the Amex EveryDay® Credit Card's 0% period, you're might be better off with a card like the Citi Simplicity® Card - No Late Fees Ever.

Like the Amex EveryDay® Credit Card, the Citi Simplicity® Card - No Late Fees Ever has an annual fee of $0. Although the Citi Simplicity® Card - No Late Fees Ever comes with a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, you also get a longer runway to pay off your debt. With this card, you'll get 0% on Purchases for 12 months and 0% on Balance Transfers for 21 months, and then the ongoing APR of 14.74% - 24.74% Variable APR.

You can earn higher rewards for $0 a year

The Citi® Double Cash Card – 18 month BT offer earns 2% cash back — 1% on every dollar you spend, then an additional 1% for every dollar you pay off. That effectively doubles the base rate of the Amex EveryDay® Credit Card. It’s better suited as a rewards card. It offers a long 0% period for 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 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: $95.

NerdWallet’s roundup of best credit card deals can also help you evaluate other potential card options.

Amex EveryDay® Credit Card: Is it right for you?

The Amex EveryDay® Credit Card 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's OK, and it doesn’t cost you anything to carry. But there are much better rewards cards available for everyday and travel spending.

To view rates and fees of the Amex EveryDay® Credit Card, please visit this page.

Information about the Amex EveryDay® Credit Card and The Amex EveryDay® Preferred Credit Card from American Express has been collected independently by NerdWallet and has not been provided or reviewed by the issuer of these cards. The Amex EveryDay® Preferred Credit Card from American Express and the Amex EveryDay® Credit Card are no longer available through NerdWallet.

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