The Amex EveryDay Credit Card from American Express is a great way to earn Membership Rewards points with no annual fee. Right now, there is also a welcome bonus and no balance transfer fee offer for new cardholders. Here are the details:
- 10,000 Membership Rewards Points welcome bonus after $1,000 in purchases in the first 3 months.
- 0% intro APR for 15 months on purchases and balance transfers for new card members. After that, a variable APR applies.
- $0 balance transfer fees on balance transfers made within the first 60 days of account opening.
- 2X points at US supermarkets on up to $6,000 per year in purchases (then 1X). 1X points on all other purchases.
- 20% more points if you make 20 or more purchases in a billing period (less returns and credits).
- No annual fee.
Note the following:
Welcome bonus offer not available to applicants who have or have had this product.
No fee 0% APR balance transfer. It has been a long time since I recall an AmEx with a no balance transfer fee offer. If you have high-interest balances on other card issuers (Chase, Citi, Bank of America, Wells Fargo, etc), this may be a good opportunity to lower your interest charges and pay off that debt faster.
Earn Membership Rewards (MR) points with no annual fee. American Express has historically been a “premium”-only brand and most every card had an annual fee. This no-annual fee card is a move towards “EveryDay” consumers. In addition, if you have Membership Rewards points earned from other American Express cards, having this card would keep all of your MR points from expiring even if you closed those other cards (perhaps to avoid the annual fees). This way you keep the flexibility to transfer the points into a variety of frequent flier miles as needed. As there is no annual fee, I can keep this card open forever.
Membership Rewards points can be converted to the following airline miles (there are more, this is just a selection):
- Delta SkyMiles
- Hawaiian Airlines
- ANA Mileage Club (partner of United Airlines)
- Air Canada (partner of United Airlines)
- British Airways (partner of American Airlines)
- FlyingBlue (Air France/KLM)
- Virgin Atlantic
- Virgin America
With the 20% bonus for 20+ purchases per billing period, you would be getting 1.2 miles per dollar on all purchases and 2.4 miles per dollar at US supermarkets (up to $6,000 per year). A lot depends on how much value you can get out of those airline miles.
Unfortunately, there are many redemption options for Membership Rewards points that are worse than 1 cent per point value. Here are a few examples:
- Shop with Membership Rewards Points (~0.5 cents per point)
- Shop with Points at Amazon.com (~0.7 cents per point)
- Use points at BestBuy.com (~0.7 cents per point)
- Gift Cards (varies from 0.5 up to 1 cent per point max)
Bottom line. The Amex EveryDay Credit Card from American Express allows to you earn and maintain Membership Rewards points with no annual fee. The sign-up perks have been improved to include a 10,000 Membership Rewards points welcome bonus and a no fee 0% APR balance transfer offer. If you have high-interest balances on other card issuers, this may be a good opportunity to lower your interest charges and pay off that debt faster.
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