American Express EveryDay card removes balance transfer fee
The editorial content below is based solely on the objective assessment of our writers and is not driven by advertising dollars. However, we do receive compensation when you click on links to products from our partners. Learn more about our advertising policy
The content on this page is accurate as of the posting date. Please see the bank’s website for the most current version of card offers.
For those looking for a solid, no-fee card that gives a generous rewards rate on grocery purchases, the AmEx EveryDay card is an easy fit. But thanks to new updates from American Express, the card just got even better for those wanting to carry a balance or transfer debt from a different card.
The AmEx EveryDay card has removed its balance transfer fee and lengthened the introductory APR on purchases and balance transfers. Now, cardholders will not be charged a fee for balance transfers made within 60 days of opening an account. Additionally, cardholders can enjoy a 0-percent intro APR on purchases and balance transfers for 15 months, instead of 12 months.
If you have a substantial amount of credit card debt to transfer, this offer is ideal since you won’t be charged a fee to do so. The extended introductory APR offer also gives you an extra three months to pay off your balance in full to avoid interest charges.
|Amex EveryDay card|
Why use it?
Those who want to transfer a balance from a different card can save a substantial amount with the AmEx EveryDay card, since it doesn’t charge a balance transfer fee or interest for the first 15 months.
|Estimated Yearly Rewards Value ($15,900 spend)
Along with the balance transfer offer, the AmEx EveryDay card offers a sign-up bonus, 2 points per dollar on grocery purchases and 1 point per dollar on everything else. Keep in mind, though, that the AmEx EveryDay card caps bonus grocery spending at $6,000 per year – which averages out to approximately $500 grocery spend each month.
Even with the cap, earning 2 points per dollar at grocery stores is a generous rate. We estimate each point to be worth 1.19 cents. So by spending $6,000 on groceries, you can earn approximately $149 worth of rewards each year.
Combine that with the 10,000-point sign-up bonus, which we value at approximately $119, and you have the potential to earn more than $268 in rewards in the first year alone.
A 20 percent bonus
The AmEx EveryDay card offers a unique perk: Cardholders who use their card to make 20 or more purchases in a billing cycle will receive 20 percent more points on those purchases. Once you factor in the 20-percent bonus, you have the potential to earn 2.4 points per dollar on grocery store purchases and 1.2 points per dollar on everything else. That’s a very good rewards rate on grocery purchases, especially for a no-fee card. However, some cardholders – specifically those who like to juggle multiple cards for their purchases – may have a difficult time using the card frequently enough to activate the bonus.
Taking into account the $6,000 yearly grocery spend that we mentioned earlier – with the bonus, your points will be worth approximately $28 more than without the bonus.
Average amount back when you spend $6,000 on groceries
|Value without bonus||Value with bonus|
|$6,000 x 2 points x 1.19 cent point value = $143||$6,000 x 2 points x 1.19 cent point value + 20% point bonus = $171|
Best ways to use your AmEx EveryDay card
To maximize your rewards earnings, we recommend using your AmEx EveryDay card for all your grocery store purchases. Here are some other tips to optimize the card’s benefits:
- Transfer your outstanding credit card balance to the AmEx EveryDay card within 60 days of opening your new account.
- Pay off your AmEx EveryDay card balance in the first 15 months to avoid incurring interest charges on purchases and balance transfers.
- Spend $1,000 in the first three months to receive the 10,000-point bonus.
- Use your AmEx EveryDay card to make 20 or more purchases each billing cycle to earn 20 percent more points on those purchases.
- Use your card to buy the first $6,000 worth of groceries at supermarkets to earn 2 points per dollar on those purchases.
- What are American Express points worth? – See how much American Express points are worth and how they compare to other rewards programs' points ...
- American Express Rewards guide: The best ways to earn and use Membership Rewards points – Our American Express Rewards guide gives you the full rundown on earning and redeeming Membership Rewards points and helps you figure out which Membership Rewards card is best for you ...
- Amazon offers Prime members 5 percent back at Whole Foods – If you’re a fan of Whole Foods but aren’t necessarily a fan of their prices, Amazon just launched a new offer that can make your organic shopping trip even more valuable ...