The American Express Everyday and Everyday Preferred Cards were released in the Spring of 2014. According to their website, American Express’ target market for these cards were everyday people, specifically “busy moms”. This is a departure from Amex’s normal (charge card) clientele of businesspeople, travelers, and the upper classes.
The Amex EveryDay Credit Card was designed with the multi-tasker in mind, like busy moms juggling family, work and their personal lives.
This pair of translucent cards is also unique because cardholders are rewarded for both how much they spend and how often they spend. Even after five years, there are no other cards that earn rewards two-fold like the Everyday cards.
The question that this post aims to answer is “which card is better for your wallet?”.
The regular Everyday Card has no annual fee, while the Everyday Preferred Card has a $95 annual fee (NOT waived the first year). The former is the clear winner in this category. But for some people, the latter’s $95 fee could be worth it.
Both cards offer nice sign-up bonuses, but not to the extent of the Gold and Platinum cards. This is because of the target market of everyday people. Still, both cards earn Membership Rewards (MR) points that are redeemable for the same options.
The regular Everyday Card has a bonus worth 10,000 points. It can be earned after spending $1,000 within the first three months. This card has had bonuses as high as 25,000 points in the past for the same minimum spend.
The Everyday Preferred card has a bonus worth 15,000 points. It can be earned after spending $1,000 within the first three months. Its highest ever bonus was 30,000 points for $2,000 minimum spend.
The Everyday Preferred card wins slightly as it has the higher public bonus for the same minimum spend. Higher bonuses are always better for American Express cards. This is because of the Once Per Lifetime Rule, which states that you can receive a sign-up bonus for a given Amex card only once ever.
As mentioned before, these two cards are the only ones that offer extra points for how often you use your card. That’s not to mention the points earned from normal spending and bonus categories.
Normal Spend & Bonus Categories
The regular Everyday card has a single bonus category in Grocery Stores. It offers 2x MR points at Grocery Stores and one point for other purchases. By contrast, the Everyday Preferred card offers 3x points at Grocery Stores, 2x points at Gas Stations, and one point for other purchases.
All bonus categories apply to the first $6,000 spent per year within the categories.
This is where the Everyday cards become special. Either card nets you a points bonus if you use it over a certain number of times per month. The bonuses give you incentive to use the cards every day (hence the name). There is also incentive to use the cards on non-bonus spend, especially if you’re close to hitting the minimum number of purchases.
The regular Everyday card has a 20% points bonus if you use it at least 20 times per month. And the Preferred card has a 50% points bonus if you use it at least 30 times per month.
The winner for earning depends on how often you plan to use your card. It also depends on which other cards are in your wallet for everyday use.
The regular Everyday card wins for rewards optimizers. These people are aware that other cards offer more rewards for different bonus categories. They would rather use their cards (including the Everyday or Everyday Preferred) where they can earn the most points.
The Everyday card also wins for those who don’t want to or can’t use their card at least 30 times per month. These people have low overall spend or low grocery store spend. They will still get the 20% points bonus if they are able to use their card between 20 and 29 times per month. This is the “sweet spot” for Everyday cardholders.
For those who can easily use their card at least 30 times per month, the Everyday Preferred is the clear winner. Those who have sizable grocery store and gas bills will also come out ahead with this card.
Intro APR Offers
Both cards offer 0% introductory APRs, letting you float balances on for the duration of the offer period. The regular Everyday card’s period is 15 months while the Preferred card’s period is 12 months. The Everyday card wins here as it has the longer intro period.
However, I don’t recommend floating balances unless you know you can pay the balance back in full within the intro period. Many travel cards don’t come with intro APR offers, so having them on both cards is nice if you can use them responsibly.
The regular Everyday card has a special balance transfer offer. You can transfer a balance to the Everyday card within 60 days of opening the card. There is a $0 balance transfer fee, which saves you an extra 3% on your balance.
The Everyday Preferred card does not have any balance transfer offers. Therefore, the regular Everyday card wins here.
I do not recommend keeping a balance on any credit card. However, many people are in situations where money can be saved by moving a balance. The Everyday card satisfies that need as well, enabling Amex to cater to more people.
Points of Indifference
Both cards have two major categories in common because they are from the same Amex card “family”:
Like the Platinum, Gold, and Green cards, both cards let you transfer points to Amex’s partners. The regular Everyday card has the distinction of being the only no annual fee personal card with this feature. That makes it a nice card to have to maintain an MR point balance for free.
These cards are not known for their perks. Both have standard American Express perks such as secondary car rental insurance and purchase protection. Neither have any special travel or dining perks like the Platinum or Gold cards.
Between the two cards, the regular Everyday card is the winner for most people. Rewards optimizers, relatively light spenders, and those who want a balance transfer deal will not be disappointed.
However, the Everyday Preferred card is a solid alternative for heavier spenders and those with large gas and grocery bills. Frequent spenders who only want one card will also win out with the Everyday Preferred.