Pros
- No membership fees
- 0% intro APR on purchases
- 0% intro APR on balance transfers
- High rewards rate
Cons
- Spending caps on rewards
- Balance transfer fee
- High regular APR
- Foreign fee
The Verdict: The Amex EveryDay® Credit Card from American Express wouldn’t be our first choice for an everyday credit card, but it offers 0% intro rate on purchases for the first 15 months your account is open. So if you have a big-ticket purchase coming up and the good or excellent credit needed for approval, you should definitely consider Amex EveryDay.
The ability to save a bundle on interest isn’t the only perk that Amex EveryDay provides. You also stand to earn a 10,000 points initial bonus and enjoy an above-average rewards structure that comes with a few qualifications. The 2 points per $1 that you’ll earn at U.S. supermarkets applies to just the first $6,000 spent each year. Otherwise, you’ll earn 1 point per $1 spent. You also need to make at least 20 purchases per month to qualify for a 20% monthly rewards bonus.
Below, you can learn more about what the Amex EveryDay Credit Card will and will not add to your everyday life.
The Amex EveryDay® Credit Card from American Express
Transfer Fee: 3% (min $5)
- 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x); 1x points on other purchases.
Rewards Details
- Earn 10,000 Membership Rewards® points after you use your new card to make $2,000 in purchases in your first 6 months.
- 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x); 1x points on other purchases.
- You can earn double points on every dollar of eligible travel purchases when you use your card to book your trip through AmexTravel.com. Terms Apply.
- 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.
- You can use points for rewards from over 500 leading brands in travel, gift cards, merchandise, or entertainment or use them towards eligible charges you make on your Card, such as retail, dining, entertainment and more.
Additional Info
- All information about The Amex EveryDay® Credit Card from American Express has been collected independently by WalletHub.
- 0% Introductory APR for 15 months on balance transfers made within 60 days of account opening.
- Equipped with Travel, Shopping & Entertainment benefits. Terms apply.
- Plan Fee (Fixed Finance Charge) - 0% introductory plan fee on each purchase moved into a plan during the first 15 months. After that, up to 1.33% of each purchase moved into a plan based on the plan duration, the APR and other factors.
- More Details & Reviews About The Amex EveryDay® Credit Card from American Express
The Highlights
- 0% Intro Financing For 15 Months: Amex EveryDay® starts you out in an interest-free environment, offering a 0% intro APR on new purchases for the first 15 months. This can take a lot of pressure off your wallet, provided you use it responsibly. That means only financing what you can afford to repay before regular rates take effect. You can use a credit card calculator to plan the monthly payments needed to get out of dodge in time.
- 10,000 Points Initial Bonus: In return for spending at least $2,000 during the first 6 months your account is open, you will receive 10,000 bonus points. That’s redeemable for up to $77 in gift cards or travel booked through American Express. It’s not the largest or most valuable initial bonus available to people with good or excellent credit. In fact, it’s below the average for the market overall. But you certainly can’t complain about having an extra $77 to spend.
- No Annual Fee: The higher your credit score is, the less likely you are to have to pay an annual fee on a credit card. You can obviously do so for an especially attractive rewards deal, for example. But you’ll also have lots of free options available. This, of course, includes the Amex EveryDay® Credit Card, which is $22.29 per year cheaper than the average credit card as a result.
- Above-Average Rewards: You will earn at least the market average for a points credit card when using Amex EveryDay®, as it provides a minimum of 1 point per $1 spent. You also get an additional point on the first $6,000 in supermarket purchases that you make each year. And you'll receive a 20% bonus on all your earnings during months that you make at least 20 purchases.
The Lowlights
- Above-Average Regular APR: EveryDay’s regular APR can be anywhere from 18.24% to 29.24% (V), depending on your credit standing. Even if you get a rate at the low end of that range, it might still be above the market average for “excellent-credit” credit cards.
- 2.7% Foreign Transaction Fee: This is well above the market-average foreign fee of 1.56%. So if you travel abroad or make purchases from internationally based merchants, using Amex EveryDay® every day could wind up being pretty expensive.
Other Things To Consider
- Relatively Limited Worldwide Acceptance: American Express is the world’s third-largest card network, operating in more than 130 countries. That might seem like a broad reach until you consider that Amex’s larger rivals, Visa and Mastercard, are each accepted in more than 200 countries. This figures to be a major obstacle for many frequent travelers who might otherwise make Amex EveryDay® their go-to everyday spending vehicle.
- Travel & Gift Cards Offer the Most Redemption Value: You have a variety of options when it comes to redeeming points earned with the EveryDay® Card, but you’ll get the most value by using your points to book travel through the American Express travel website or by redeeming them for gift cards. Amex’s so-called “Membership Rewards” points are worth 1 cent apiece when redeemed by these methods, whereas statement credits, merchandise and miscellaneous redemption options all yield significantly less.
Compared To The Competition
U.S. Bank Business Platinum Card Review Methodology
This U.S. Bank Business Platinum Card review is based on WalletHub’s proprietary 100-point credit card rating system. By using a consistent methodology to evaluate the U.S. Bank Business Platinum Card and all other cards, WalletHub’s credit card experts make it easy for people to compare their options and find the best credit cards for their needs.
The WalletHub rating system uses 16 key metrics grouped into seven categories: Fees, Rewards, Two-year Cost, Interest Rates, Approval Requirements, Special Features, and Reviews. Each metric has a maximum number of points allocated to it, based on the metric’s importance as determined by our editors. The points are added up to create an overall rating for the U.S. Bank Business Platinum Card out of a maximum of 100 points, which is then converted to a 5-point scale.
Ratings for each category reflect how close U.S. Bank Business Platinum Card is to WalletHub’s definition of a 5-star credit card, which is based on market conditions and what we believe are reasonable terms. We compare U.S. Bank Business Platinum Card to that standard to give a numerical approximation of how reasonable and competitive its terms are compared to other cards.
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