American Express EveryDay Credit Card Review 2022
Written by
Karen Doyle
Edited by
Amber Barkley
Commitment to Our Readers
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20 Years
Helping You Live Richer
Reviewed
by Experts
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Millions of Readers
GOBankingRates Score
-
Balance Transfer
4.8
Pros
- Welcome Offer bonus points for new cardholders
- Intro APR on purchases and balance transfers
- Get 20% more points when you make 20 or more purchases in a billing cycle
- Double points on travel purchases through AmexTravel.com
- Transfer your points to frequent traveler programs
- No annual fee
Cons
- High penalty APR may apply if you make a late payment or if a payment is returned by your bank. You can also be charged up to $40 each time.
- The value of points depends on how you redeem them, and redemption can be confusing.
American Express EveryDay Card Overview
The American Express® EveryDay is a solid, no-annual-fee card from an issuer whose cards still carry a certain amount of cachet. You can carry a balance from month to month on this card, and the interest rate is about average at APR. The introductory rate, however, is quite good, giving you 15 months of 0% APR for new purchases and for balance transfers, provided you make the transfers in the first 60 days. You’ll also get a 10,000 point bonus if you spend $2,000 in purchases in the first six months.
Key Features
The American Express® EveryDay card earned a score of 4.8 out of five. Here are some of the features considered in that score.
APR
This card offers a 0% introductory APR for the first 15 months on purchases and balance transfers. After that, the APR is based on creditworthiness. This rate is variable and may rise when the prime rate rises.
Balance Transfers
Pay 0% APR for the first 15 months on balances you transfer from another card within 60 days. After that, pay the regular interest rate of APR. You’ll also pay 3% of the amount of the transfer or $5, whichever is greater, which is in line with other cards.
Rewards
Along with the Welcome Offer, with the American Express® EveryDay card, you earn points on every purchase. On your first $6,000 in grocery purchases each year, you earn two points per dollar. You’ll earn one point per dollar spent on every other purchase.
Redeeming points is not as straightforward. Most credit cards let you redeem rewards, cash back or points — the terminology varies — at the rate of a penny a point. So, 100 points equal a dollar, and 1,000 points equal $10. American Express not only has different values for different ways of redeeming points, but different American Express® cards value points differently.
For the American Express® EveryDay card, you’ll get the standard penny-a-point value when you use your points to book flights through American Express Travel. Book a rental car or hotel through Amex Travel, though, and you’ll get just 0.7 cents per point. You also get 0.7 cents when you pay with points at checkout on Amazon. If you want a statement credit for your points, they’ll be redeemed at just 0.6 cents per point.
Annual Fee
The American Express® EveryDay card has no annual fee, which is a departure for American Express, Member FDIC — most American Express cards come with at least a small annual fee.
How the American Express EveryDay Card Stands Out
The American Express® EveryDay Card stands out for its 15-month introductory APR of 0% for purchases and balance transfers — many cards offer only 12 months of an introductory APR, if they offer one at all. Plus, it has no annual fee, and you earn points on every purchase.
Comparable Everyday Credit Card Options
Before applying for a new credit card, it’s important to do your research and choose the best card for you. If the American Express® EveryDay card isn’t for you, here are a couple of other options.
Capital One Quicksilver One Credit Card
The Capital One Quicksilver One Credit Card offers you more points and is more straightforward about redeeming them. You get 1.5 points per dollar on everything you purchase. You can redeem your points — at the rate of one cent per point — for cash back, a statement credit or gift cards. It does have a $39 annual fee.
Discover it Cash Back Credit Card
The Discover it Cash Back credit card gives you 1% cash back on every purchase. Each quarter, you get 5% cash back at certain categories of merchants, such as Amazon, restaurants, gas stations, etc. You have to activate this feature. At the end of the first year, Discover doubles all the cash back you earned that year. Plus, there’s no annual fee.
How To Apply
You can apply for the American Express® EveryDay credit card on the American Express website. You’ll find out if you’re approved before it impacts your credit score. Once you decide to accept the card, American Express will do a hard pull on your credit, which will show up on your report.
To apply, you’ll need to provide some personal information, like your name, Social Security number and income.
Who the American Express EveryDay Credit Card Is Best For
If you have balances you want to transfer from a high-interest rate card, this card gives you 15 months to pay them off before you have to pay even a dime of interest. It’s also a good choice if you know you need to make a large purchase and you want some time to pay it off, since you get 15 months of no interest on purchases too.
Final Take
The American Express® EveryDay credit card is, as the name would imply, a good choice for everyday purchases. The introductory interest rate stands out for those who may want to transfer balances or are making a large purchase they want some time to pay off. It does offer points, but if that’s your primary motivation, you can get a better deal elsewhere.
FAQ
- Is American Express® EveryDay card easy to get?
- American Express has a bit of a reputation for being difficult to qualify for, but the EveryDay card is easier to get than, say, a Platinum card. And you can know if you're approved before they pull your credit report, so it won't show up on your report until you accept the card.
- Is the American Express® EveryDay card a credit card?
- The American Express® EveryDay card is a credit card, meaning you can carry a balance on it. In other words, you don't have to pay it off completely at the end of the month like you would a charge card. You'll pay interest, of course, after the introductory period.
- What is an American Express® EveryDay card?
- The American Express® EveryDay card is a credit card that is promoted as a card for "everyday" use. It has no annual fee, and you earn points for purchases.
- What credit score is needed for the American Express® EveryDay card?
- American Express does not publish a required credit score for the EveryDay card, but the higher your credit score is, the more likely you'll be approved. However, you'll probably need to have a credit score in the Good to Excellent range – meaning above 660 – to be approved.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Oct. 5, 2022.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
All information about the American Express® EveryDay card has been collected independently by GOBankingRates. The American Express® EveryDay card is not available through GOBankingRates.
