American Express Everyday Preferred card review

American Express Everyday Preferred card review

Updated: July 27, 2023
Updated: July 27, 2023
Ratings Policy
Low Interest Rating:
3.2 rating
3.2 rating
3.2 / 5
Rates, Fees, Penalties:2.9
Rewards:4.2
Features:3.0
Customer Experience4.6

In a Nutshell:

The American Express Everyday Preferred card offers a reasonable interest rate and a 12-month introductory period on new purchases and balance transfers, but bargain-minded cardholders may be turned off by the card’s high annual fee. This offer is no longer available on our site.

Information about this card has been collected independently by CreditCards.com. The issuer did not provide the content, nor is it responsible for its accuracy.

Regular APR
18.24-28.24% (variable) APR

Poor

Introductory Purchase APR
0% for 12 months

Excellent

Introductory Balance Transfer APR
0% for 12 months

Excellent

Fees

  • $95 annual fee
  • 3% balance transfer fee
  • 2.7% foreign transaction fee
  • 5% cash advance fee (or $10, whichever is greater)
Very Good

Penalties

  • Up to $40 late payment fee
  • 29.99% variable penalty APR
  • Up to $40 returned payment fee
Fair

Customer Experience

Excellent

Other Notable Features: Destination Family, ShopRunner membership, event and ticket presales, membership experiences, lowest hotel rates guarantee, personalized travel service, auto purchasing program, roadside assistance hotline, global assist hotline, dispute resolution, $0 fraud liability, emergency card assistance, baggage insurance, car rental loss and damage insurance, purchase protection, extended warranty, return protection, year-end summary

Ratings Policy
Rewards Rating:
3.2 rating
3.2 rating
3.2 / 5
Rewards Value:2.8
Annual Percentage Rate:4.4
Rewards Flexibility:3.6
Features:1.0
Customer Experience4.6

In a Nutshell:

The American Express EveryDay Preferred card can be a great choice for frequent users and families who spend a lot on gas and at U.S. supermarkets, but a high annual fee and an onerous requirement to reap the card’s full rewards rate diminish its overall appeal. This offer is no longer available on our site.

Information about this card has been collected independently by CreditCards.com. The issuer did not provide the content, nor is it responsible for its accuracy.

Rewards Rate

  • 3:1 U.S. supermarkets (up to $6,000 in purchases per year)
  • 2:1 U.S. gas stations
  • 1:1 general purchases
  • 50% bonus when you make 30+ purchases per month
  • Terms apply
Excellent

Sign-up Bonus
15,000 points if you spend $2,000 in the first 6 months (Terms apply)

Average

Annual Bonus
None

Poor

Annual Fee
$95

Poor

APR
18.24-28.24% (variable) APR

Excellent

Rewards Redemption
Pros

  • Points don’t expire
  • No blackout dates
  • 50-percent bonus on points when you use your card 30+ times in a billing period (terms and limitations apply)
  • Use points for flights, hotels booked and paid in advance, vacations, cruises, merchandise, gift cards, statement credits
  • Can transfer points to select frequent flyer or hotel loyalty programs
  • Earn double points on travel purchases made through amextravel.com
  • More than 500 different brands
  • Redeem points with linked account on Amazon and Live Nation
  • Redeem points for Uber rides
  • Pay for travel with partial points

Cons

  • $6,000 annual limit on grocery store purchases
  • Must purchase travel rewards through American Express Travel (unless you transfer points to one of Amex’s travel partners)
  • Additional booking fees may apply to travel rewards
  • Fee of $0.0006 per point for conversion of points to frequent flyer/hotel loyalty programs
  • Minimum 2,500 points required for statement credits
  • Minimum 1,000 points required for American Express gift cards
Very Good

Customer Experience

Excellent

Other Notable Features: Destination Family, ShopRunner membership, event and ticket presales, membership experiences, lowest hotel rates guarantee, personalized travel service, auto purchasing program, roadside assistance hotline, global assist hotline, dispute resolution, $0 fraud liability, emergency card assistance, baggage insurance, car rental loss and damage insurance, purchase protection, extended warranty, return protection, year-end summary

CardMatchFind card offers for you: This card is not currently available on CreditCards.com, but you can still find a great card offer for you! Our CardMatch tool can help match you with prequalified offers and cards that align with your credit history – with no harm to your credit score. Get personalized offers from our partners in seconds.

Despite a solid rewards rate on supermarket and gas purchases and flexible redemption options via American Express’ Membership Rewards program, the EveryDay Preferred card can be difficult to manage, especially if you tend to spread your spending among several credit cards. Doing so means you’re likely to miss out on a 50 percent points bonus, one of the card’s most attractive features.

Cardholders can make the most of this offering by maximizing the card’s outstanding rate at U.S. grocery stores and transferring their points to one of several airline or hotel loyalty programs.

High rewards on gas and at U.S. supermarkets

When it comes to rewards cards for grocery shopping, the American Express EveryDay Preferred card’s rate of 3 percent on U.S. supermarket purchases – with an annual cap of $6,000 – ranks near the top of the list, even without factoring in the opportunity to score bonus points on the category. (Note: Superstores such as Target and Walmart are not included in the supermarket category.) The base reward for general purchases is one point per dollar. Trips to the gas station collect two points per dollar.

Supermarket spenders who scoff at the $95 annual fee might look toward the Blue Cash Everyday® Card from American Express, which offers the same 3:1 rate on U.S. supermarket purchases (up to $6,000 in purchases per year, then 1 percent), without an annual fee. Granted, you won’t be nabbing any bonus points, but as you’ll see below, that feature may be more trouble than it’s worth.

Cumbersome requirement for points bonus

Using the EveryDay Preferred card 30 or more times in a billing period triggers a whopping 50 percent bonus on points collected in the same month, pushing the earn rate for supermarkets, gas stations and general purchases to 4.5:1, 3:1 and 1.5:1, respectively. (Note: After you exceed the annual $6,000 cap on grocery purchases, the bonus rate for that category drops to 1.5:1.)

But restrictions on the benefit mean it’s not as easy as it seems to meet the requirements to achieve the bonus rate.

Though returns or account credits won’t reduce your purchase count, they do decrease the number of points (and, therefore, bonus points) earned within a billing period. Also, some merchants combine separate charges into a single transaction before submitting it to American Express. For example, buying three items on Amazon over one or more days may only count as one purchase. In other words, your affinity for free two-day shipping and impulse shopping may come back to bite you. 

So-so introductory bonus

The American Express EveryDay Preferred card comes with an introductory bonus of 15,000 points for new cardholders who spend $2,000 in the first six months. Those points translate to $150, which more than takes care of the $95 annual fee. However, many general rewards cards – even ones with no annual fees – offer much higher welcome bonuses. You might want to shop around and see what else is out there before you apply for the Everyday Preferred card and add a hard inquiry to your credit report.

Flexible redemption options

The EveryDay Preferred card comes with access to the Amex Membership Rewards program, allowing you to redeem points across several categories, including statement credits, merchandise, gift cards, hotels booked and paid in advance, cruises, vacations and flights.

Note: You should avoid using points for event tickets, statement credits or merchandise, since these items have 50 percent of the value of other rewards options.

Option to transfer points

Get the biggest bang for your buck by transferring your points at a 1:1 ratio to one of American Express’ many travel partners, including airlines such as Delta and JetBlue. Doing so can elevate the value of each point well beyond the average 1 cent you’d get when redeeming points through the Amex rewards website, even with a changeover fee of $0.0006 per point.

If you choose to transfer points to one of Amex’s hotel partners, stick with Hilton Honors, which offers a higher conversion value (1,000 Amex points = 1,500 Hilton points) compared to Choice Privileges or Starwood Preferred Guest.

Why get the American Express EveryDay Preferred card?

  • You use credit cards frequently to pay for everyday purchases.
  • You have kids or otherwise require a large budget for grocery shopping.
  • You prefer a variety of options when it comes to redeeming rewards.
  • You’d rather not have to keep track of rotating bonus categories.
  • You’re interested in travel hacking, but prefer to go slowly rather than diving into the deep end with travel-specific rewards cards.

How to use the American Express EveryDay Preferred card:

  • Spend at least $2,000 within the first six months to earn the 15,000-point introductory bonus.
  • Use the card to pay for all U.S. supermarket and gas station purchases.
  • Keep an eye on your card usage to ensure you meet the minimum number of transactions required for the points bonus. (Download the Amex mobile app to make it easier.)
  • Make your points go farther by transferring them to a frequent flyer program.
  • Keep the card at home while traveling internationally, as you’ll incur a 2.7-percent foreign transaction fee on every purchase.

Our reviews and best card recommendations are based on an objective rating process and are 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

Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.

All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.