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This offer is no longer available on our site: The Amex EveryDay® Credit Card from American Express
If you’re looking to pay down credit card debt with a balance transfer card and earn some rewards to boot, consider the The Amex EveryDay® Credit Card from American Express.
|What we like||Heads up|
- The rundown: Everything we like about the Amex EveryDay® Credit Card from American Express
- Heads up: What you should consider before applying for the Amex EveryDay® Credit Card from American Express
- Do the math: How to get the most out of the Amex EveryDay® Credit Card from American Express
- The competition: How the Amex EveryDay® Credit Card from American Express stacks up against similar cards
- Bottom line: Is the Amex EveryDay® Credit Card from American Express right for you?
There’s plenty to love about the Amex EveryDay® Credit Card from American Express, particularly if you’re looking to transfer a high-interest credit card balance onto a card that’ll give you a chance to pay down some debt without interest for a stretch of time.
Many cards charge a balance transfer fee to transfer a balance, but not the Amex EveryDay® Credit Card from American Express. Its $0 balance transfer fee can be a huge benefit if your primary goal is to transfer a balance – it could save you a few hundred dollars depending on the amount of the balance transfer. But to take advantage of the $0 balance transfer fee, balance transfers must be requested within 60 days from account opening.
And if you’re looking for reasons to keep using the card once your transferred balance has been paid off, consider this: When you make 20 or more separate purchases in a billing period, you’ll earn 20% extra Membership Rewards® points on those purchases.
If you do end up hitting the threshold of 20 purchases per billing period, you effectively earn 2.4 points on purchases at U.S. supermarkets per dollar on up to $6,000 per year and 1.2 points per dollar on eligible purchases everywhere else. Not bad.
Heads up: What you should consider before applying for Amex EveryDay® Credit Card from American Express
If you’re mainly motivated by the rewards, there are better offers out there. Compare it to other grocery cards for higher rewards rates in this category.
And don’t let the rewards distract you from paying down your transferred balance. If you add too many new charges to your Amex EveryDay® Credit Card from American Express and don’t pay your balance off before the promotional APR period ends, including purchases and any remaining amount on your transferred balance, you could get slammed with a bunch of interest. This could easily wipe out the value of any rewards you earned. That’s why it’s crucial to pay off your balance before the card’s variable APRs kick in on purchases and balance transfers.
One way to avoid missing the end of the intro 0% APR period for purchases and balance transfers is to set a calendar reminder a few weeks or months ahead. This way you’ll have some time to get your finances in order to pay off most, if not all, of your balance.
On top of the rewards you can earn with your usual grocery shopping, the Amex EveryDay® Credit Card from American Express comes with a welcome bonus of 10,000 Membership Rewards® points after spending at least $1,000 on purchases in the first three months your account is open. If you can do this without stretching your budget, consider making it your primary card and collect your points.
What you shouldn’t do, though, is spend beyond your means to get the bonus. Doing so might put you in a position where you earn the welcome bonus at the cost of assuming debt.The best credit card sign-up bonuses of 2018
The competition: How the Amex EveryDay® Credit Card from American Express stacks up against similar cards
|Great for groceries||Blue Cash Everyday® Card from American Express|
|Simple cash back||Citi® Double Cash Card|
|Cash back in rotating categories||Chase Freedom®|
The Blue Cash Everyday® Card from American Express undoubtedly beats the Amex EveryDay® Credit Card from American Express on grocery rewards, earning 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). Plus, the Blue Cash Everyday Card® from American Express earns 2% back at U.S. gas stations and select U.S. department stores, and 1% back on other purchases.
The rewards program for the Citi® Double Cash Card couldn’t be much simpler. You earn 2% cash back — 1% when you spend and another 1% back as you pay — on purchases.
Plus, the Citi® Double Cash Card comes with a 0% intro APR on balance transfers for 18 months from the date of the first transfer (then a variable APR of 15.49% - 25.49% will apply). You’ll need to complete any balance transfers within the first four months of account opening for the intro offer to apply. And there is a balance transfer fee of 3% (minimum $5). This beats the introductory APR time frame you get with the Amex EveryDay® Credit Card from American Express, but remember the American Express card offer also applies to purchases. The Citi® Double Cash Card also has a $0 annual fee.
The Chase Freedom® rewards program is a little different. It offers 5% cash back on up to $1,500 in combined purchases in select bonus categories you activate each quarter.
Like the Amex EveryDay® Credit Card from American Express, the Chase Freedom® also has a 0% intro APR on purchases and balance transfers for 15 months from account opening (then a variable APR of 16.99% - 25.74% on both purchases and balance transfers). The card comes with a $0 annual fee but has a 3% (minimum $5) balance transfer fee.
If you want to transfer a balance and earn cash back on groceries, the Amex EveryDay® Credit Card from American Express is a solid option. But be sure to weigh all of your options. Check out our favorite balance transfer cards.Best balance transfer cards of 2018