Tag: Everyday Preferred Credit Card

American Express Everyday Preferred Credit Card: A Comprehensive Overview

The American Express Everyday Preferred Credit Card is a compelling option for those looking to maximize their spending with a robust rewards program. Issued by American Express, this card not only provides fantastic earning potential but also includes a variety of perks that can enhance your financial journey.

Card Type

This card is classified as a cashback credit card, focusing predominantly on rewards that can be earned through everyday purchases. With a structure designed to reward cardholders for regular transactions, it is perfect for individuals who want to earn while they spend.

Annual Fee

One of the key aspects of the American Express Everyday Preferred Credit Card is its annual fee. The card does carry an annual fee of $95, which is relatively standard for credit cards that offer extensive rewards. This fee is worth considering in the context of the potential rewards and benefits.

Rewards Program

The rewards structure of the Everyday Preferred Credit Card is particularly attractive. Cardholders earn 3x points at U.S. supermarkets (on up to $6,000 per year in purchases, then 1x), 2x points on U.S. gas stations, and 1x point on all other purchases. Additionally, if you make at least 30 purchases in a billing period, you can earn 50% extra points on the points you earn that month. Rewards can be redeemed for travel, retail purchases, or even converted to cash back.

Sign-Up Bonus

New applicants can also enjoy a generous sign-up bonus. If you spend $3,000 on purchases in the first 3 months from account opening, you can earn 15,000 Membership Rewards points. This offers a valuable opportunity to jumpstart your rewards accumulation.

APR (Annual Percentage Rate)

The regular APR for purchases is competitive, with a range starting from 16.24% to 24.24% variable, depending on your creditworthiness. The card does not offer an introductory APR on purchases but can be a solid choice for those who pay their balances in full each month.

Foreign Transaction Fees

For frequent travelers, the American Express Everyday Preferred Credit Card stands out by having no foreign transaction fees. This feature allows cardholders to make purchases abroad without incurring additional costs, making it a great companion during international travels.

Balance Transfer Options

The card does not typically focus on balance transfer options, which means it lacks promotional offers like 0% APR on balance transfers. Cardholders may find this less appealing if they are interested in consolidating debt.

Additional Fees

Aside from the annual fee, users should be aware of other potential charges. The late payment fee can reach up to $40, while cash advances come with a fee of either $10 or 5% of the amount transferred, whichever is greater. It’s advisable to familiarize yourself with these charges to avoid unexpected costs.

Card Benefits and Perks

Among the numerous benefits offered by the Everyday Preferred Credit Card are various travel-related perks, including car rental loss and damage insurance and access to the American Express Travel portal, where cardholders can enjoy exclusive deals and discounts on travel bookings. Additionally, it’s possible to access concierge services that can assist with various arrangements, adding a touch of luxury to your experience.

Customer Protections and Insurance

American Express is known for its commitment to customer protection. Cardholders can enjoy features such as fraud liability protection, purchase protection, and extended warranty coverage on eligible purchases. These protective features contribute significantly to the card’s appeal, providing peace of mind while shopping.

Eligibility and Credit Score Requirements

To qualify for the American Express Everyday Preferred Credit Card, applicants typically need a good to excellent credit score, usually in the 700-740 range or higher. Beyond credit scores, American Express may also look at your overall financial profile during the approval process.

Introductory Offers

While this card does not offer traditional introductory APR offers, the generous rewards program and sign-up bonus can serve as an effective incentive for new applicants.

Special Features or Unique Selling Points

One of the distinct aspects of the American Express Everyday Preferred Credit Card is its ability to earn rewards points on everyday purchases, amplified by the 50% bonus for making frequent purchases. This card is especially appealing for individuals who lead active lifestyles and frequently shop at supermarkets and gas stations.

How to Apply

Applying for the Everyday Preferred Credit Card can be done conveniently online. Interested applicants can visit the official American Express website for more information and to start the application process. For direct access, click here: UpCube.net.