Amex EveryDay Preferred Card review: Benefits and rewards — 2020 - Business Insider - Business Insider

Amex EveryDay Preferred Card review: Benefits and rewards — 2020 - Business Insider - Business Insider


Amex EveryDay Preferred Card review: Benefits and rewards — 2020 - Business Insider - Business Insider

Posted: 07 Oct 2020 08:11 AM PDT

This article is brought to you by the Personal Finance Insider team. It has not been reviewed, approved, or otherwise endorsed by any of the issuers listed. Some of the offers you see on the page are from our partners like Citi and American Express, but our coverage is always independent. Terms apply to the offers listed on this page.

Annual Fee

$95

Regular APR

12.99% to 22.99% Variable

Credit Score

Excellent

Editor's Rating

  • Details
  • Pros & Cons
  • The information for the Amex EveryDay Preferred Card has been collected independently by Business Insider, and has not been reviewed or provided by the card issuer
  • 3x points at US Supermarkets
  • 2x points at US gas stations
  • 1x points on all other eligible purchases
  • Use your Card 30 or more times on purchases in a billing period and earn 50% extra points on those purchases less returns and credits. Terms apply.
Pros
  • Strong rewards at US supermarkets
  • You can earn a 50% points bonus each billing period when you make at least 30 purchases
Cons
  • Annual cap on earning bonus rewards at US supermarkets
  • Not the best option for earning rewards outside of US supermarkets and US gas stations — especially if you don't make at least 30 purchases per billing statement to earn the bonus

Review: Is the Amex EveryDay Preferred the best card for you?

The Amex EveryDay® Preferred Credit Card from American Express belongs to the suite of credit cards that earn Amex Membership Rewards points. It comes with a $95 annual fee, which is more than the no-annual-fee Amex EveryDay® Credit Card from American Express, but less than the annual fee on many of the other cards that earn Membership Rewards, like the American Express® Green Card, American Express® Gold Card (See Rates), and The Platinum Card® from American Express.

The Amex EveryDay® Preferred Credit Card (along with the Amex EveryDay Card) has a unique bonus feature for making a specified number of transactions during each monthly billing cycle. For the EveryDay Preferred card, if you make at least 30 transactions during a monthly billing cycle, you will get a 50% bonus on all transactions that month. That could mean 4.5 Membership Rewards points for spending at US supermarkets — because the card earns 3x points at US supermarkets (on up to $6,000 per year, then 1x) — which would make the EveryDay Preferred one of the best cards out there for grocery-store spending.

In order to make up for the $95 annual fee, you'll want to make sure to hit that 30-transaction minimum each month in order to get the 50% bonus. If you don't think that you will hit that total on most months, there may be cards with bigger bonuses and/or lower annual fees.

Bottom line: Especially if you regularly make at least 30 purchases in a billing cycle, the Amex EveryDay® Preferred Credit Card could be a great option. You'll get a 50% points bonus for hitting that transaction threshold, and the card offers 3x points on the first $6,000 you spend each year at US supermarkets (then 1x).

Amex EveryDay Preferred versus other Amex cards

  Amex EveryDay® Preferred Credit Card Amex EveryDay Card Blue Cash Preferred® Card from American Express
Annual fee $95 $0 $95 (See Rates)
Rewards rate

3x points at US supermarkets*

2x points at US gas stations

2x points on eligible travel purchases made at Amex Travel

1 point per dollar on everything else

2x points at US supermarkets*

2x points on eligible travel purchases made at Amex Travel

1 point per dollar on everything else

6% cash back at US supermarkets*

6% cash back on select US streaming subscriptions

3% cash back at US gas stations and on transit

1% back on everything else

Welcome bonus 15K points after you spend $1K on eligible purchases in the first 3 months 10K points after you spend $1K in the first 3 months $250 back after you spend $1K in the first 3 months of account opening
Monthly transaction bonus Use your card 30 or more times in a billing period to earn 50% more points Use your card 20 or more times in a billing period to earn 20% more points N/A 
Intro APR offer 0% intro APR on purchases for the first 12 months, then 12.99% to 22.99% Variable 0% intro APR on purchases for the first 15 months, then 12.99% to 23.99% N/A
  Not available through Business Insider Not available through Business Insider Learn more

*3x/2x points and 6% cash back at US supermarkets on up to $6,000 per year, then 1x/1% back

Amex EveryDay Preferred versus other rewards credit cards

  Amex EveryDay® Preferred Credit Card Chase Sapphire Preferred® Card Capital One® Venture® Rewards Credit Card
Annual fee $95 $95 $95
Rewards rate

3x points at US supermarkets*

2x points at US gas stations

2x points on eligible travel purchases made at Amex Travel

1 point per dollar on everything else

5x points on Lyft rides through March 2022

2x points on travel and dining 

1 point per dollar on everything else

2x miles on every purchase
Welcome bonus 15K points after you spend $1K in the first 3 months 80,000 points after you spend $4K in the first 3 months of account opening 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, plus another 50K miles after you spend $20K in the first 12 months
Other benefits Use your card 30 or more times in a billing period to earn 50% more points

No foreign transaction fees

Primary car rental insurance

No foreign transaction fees

Application fee credit of up to $100 for Global Entry/TSA PreCheck

Intro APR offer 0% intro APR on purchases for the first 12 months, then 12.99% to 22.99% Variable N/A N/A
  Not available through Business Insider Learn more Learn more

*3x points at US supermarkets on up to $6,000 per year, then 1x

Using Membership Rewards points

If you redeem your Membership Rewards points through the Amex Travel site, you'll get a value of 0.7 to 1 cent per point. You can often get a lot more value by transferring your Membership Rewards points to American Express's hotel and airline travel partners.

Here are some of the best ways to earn and redeem American Express Membership Rewards points.

Amex EveryDay Preferred features

Aside from the welcome bonus and the points you can earn on everyday spending, the Amex EveryDay® Preferred Credit Card comes with a few lifestyle and shopping benefits.

  • ShopRunner membership — As a cardholder, you can enroll with ShopRunner to receive complimentary two-day shipping with a wide variety of online retailers.
  • Return protection — The Amex EveryDay® Preferred Credit Card offers return protection for eligible purchases made with your card, up to 90 days from purchase. You can receive up to $300 per covered item and up to $1,000 per year when your item cannot be returned to the merchant for a refund.
  • Purchase protection — You'll also get purchase protection to protect new items you buy with the card, up to $1,000 per covered purchase.
  • Extended warranty — The extended warranty feature gives you up to one additional year on warranties of five years or less when you purchase an eligible item with your card.
  • Secondary car rental insurance — Finally, the EveryDay Preferred card offers car rental insurance, but keep in mind that it's secondary (meaning it only kicks in after your personal auto insurance coverage) and doesn't include liability.

Annual Fee

$95

Regular APR

12.99% to 22.99% Variable

Credit Score

Excellent

Editor's Rating

  • Details
  • Pros & Cons
  • The information for the Amex EveryDay Preferred Card has been collected independently by Business Insider, and has not been reviewed or provided by the card issuer
  • 3x points at US Supermarkets
  • 2x points at US gas stations
  • 1x points on all other eligible purchases
  • Use your Card 30 or more times on purchases in a billing period and earn 50% extra points on those purchases less returns and credits. Terms apply.
Pros
  • Strong rewards at US supermarkets
  • You can earn a 50% points bonus each billing period when you make at least 30 purchases
Cons
  • Annual cap on earning bonus rewards at US supermarkets
  • Not the best option for earning rewards outside of US supermarkets and US gas stations — especially if you don't make at least 30 purchases per billing statement to earn the bonus

Amex EveryDay Preferred costs and fees

As we've discussed, the Amex EveryDay® Preferred Credit Card comes with a $95 annual fee, which is not waived the first year. It does have a 0% introductory APR on purchases in the first 12 months of having the card. After that, the APR will be  12.99% to 22.99% Variable, depending on your creditworthiness and other market factors. Late and returned payments come with a fee of up to $40.

Cash advances with the Amex EveryDay® Preferred Credit Card come with a fee of $10 or 5% of the amount of each cash advance, whichever is greater. The cash advance APR is 25.24%. The EveryDay Preferred card also has a foreign transaction fee of 2.7%. So if you're outside the US, it's better to use one of our best cards with no foreign transaction fees.

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

Business Insider may receive a commission from The Points Guy Affiliate Network, but our reporting and recommendations are always independent and objective.

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

For rates and fees of the American Express® Gold Card, please click here.

For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.

Capital One Venture sign-up bonus: Earn 100k miles for a limited time - Business Insider - Business Insider

Posted: 22 Sep 2020 12:00 AM PDT

This article is brought to you by the Personal Finance Insider team. It has not been reviewed, approved, or otherwise endorsed by any of the issuers listed. Some of the offers you see on the page are from our partners like Citi and American Express, but our coverage is always independent. Terms apply to the offers listed on this page.

  • The Capital One® Venture® Rewards Credit Card is one of the best travel credit cards, especially if you don't want to keep track of bonus categories.
  • You'll earn 2 miles per dollar no matter what you buy, and it has a reasonable annual fee of $95.
  • The standard sign-up bonus is 50,000 miles, but for a limited time new cardholders can earn 100,000 miles.
  • You'll earn 50,000 miles after you spend $3,000 in the first three months, and another 50,000 miles after you spend $20,000 within the first 12 months of account opening.
  • See Business Insider's list of the best travel credit cards »

Even if you have no idea when you'll feel comfortable traveling again, it's a good idea to build up your stash of points and miles now. After several pretty quiet months on the rewards credit card front, we're starting to see some exciting new sign-up offers, so you have great options for getting started.

The Chase Sapphire Preferred® Card just launched a record-high sign-up of 80,000 points (after you spend $4,000 in the first three months of account opening), and now the Capital One® Venture® Rewards Credit Card has an excellent limited-time offer of its own.

Annual Fee

$95

Regular APR

17.24% to 24.49% variable

Credit Score

Good to Excellent

Editor's Rating

Featured Reward

50,000 miles once you spend $3,000 on purchases within 3 months from account opening

Intro APR

N/A
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
  • Details
  • Pros & Cons
  • Annual Fee: $95
  • Regular APR: 17.24% - 24.49% (Variable)
  • Sign-Up Bonus: Earn 50,000 Bonus Miles once you spend $3,000 on purchases within the first 3 months from account opening
Pros
  • Annual fee waived the first year
  • No bonus categories to keep track of
  • Includes up to a $100 statement credit for Global Entry or TSA PreCheck
Cons
  • Other credit cards offer higher rewards in certain categories of spending
Read Our Review Read Our ReviewA looong arrow, pointing right

You'll earn 50,000 miles after you spend $3,000 in the first three months, and to earn the full 100,000 miles, you'll need to spend $20,000 on the card in the first 12 months from account opening. That sounds like a lot of money — and it is — but it breaks down to an average of $1,666 per month. If you use the Capital One Venture as your primary credit card in your first account year, meeting the minimum spending requirement to earn 100,000 miles could be quite doable.

This is a limited-time offer, and Capital One hasn't shared the end date. That means you shouldn't wait to apply.

The Venture card is worth considering beyond the bonus

Aside from the welcome bonus, the Capital One® Venture® Rewards Credit Card is worth considering if you want to earn travel rewards without having to devote hours to learning the ins and outs of the points and miles hobby.

It's a straightforward card that earns 2x miles on every purchase, and you can redeem your miles at a rate of 1 cent per mile to cancel out travel purchases made on your card. You can also transfer Capital One miles to a handful of airline and hotel partners, including Air Canada, JetBlue, and Wyndham. 

The Venture card offers a statement credit of up to $100 to cover the application fee for Global Entry or TSA PreCheck. That may not seem like a relevant benefit right now, but you'll want to have expedited security and immigration clearance once you do finally travel. There's a $95 annual fee, and no foreign transaction fees.

Again, we don't know when this 100,000-mile offer will end, so don't wait to apply if you're interested in this card.

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

Business Insider may receive a commission from The Points Guy Affiliate Network, but our reporting and recommendations are always independent and objective.

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

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