The American Express Everyday Preferred is the upgraded version of the American Express Everyday Card. This card has two bonus categories that can be useful for everyday spend (hence its name).

Those who use a credit card for everything and have good sized grocery store and gas expenditures will like its earning structure. This is especially true if you use your card at least 30 times per month consistently. Travelers who want an MR-earning card with a modest annual fee will find their solution with this card as well.

Is the rewards-packed Everyday Preferred Card right for you?

Earning

The Everyday Preferred Card has a unique earning structure. It earns 3x MR points per dollar at US Grocery Stores, 2x points on US Gas Stations, and 1x on everything else. The bonus rates only apply for the first $6,000 spent per year.

You will receive a 50% points bonus if you use your card at least 30 times per month. The points bonus gives you the potential to earn 4.5x at Grocery Stores, 3x at Gas Stations, and 1.5x on everything else.

This card has no-annual fee and a public sign-up bonus of 15,000 MR points. It can be earned after spending just $1,000 in the first 3 months. Previously, the bonus has been as high as 30,000 points for $2,000 minimum spend.

The Everyday Preferred Card has an annual fee of $95 (NOT waived the first year). This card is also great for balance transfers. You will have a 0% interest rate on purchases and balance transfers for the first 12 months. Paying your card in full is encouraged, but the 0% interest rate could help you carry a balance for free. Larger purchases can be paid off with no interest in this way.

Burning

Earning points is fantastic, but points earned are useless if you cannot redeem them for anything of value. Amex has multiple options for redemption:

Transfer Partners

American Express’ 21 transfer partners are this card’s most valuable redemption option. It’s also the only personal no-annual fee card that lets you redeem points in this way. Amex transfers points at a 1 MR to 1 partner currency ratio unless otherwise noted.

Hotels

  • Choice Privileges
  • Hilton (1 MR = 2 Hilton Honors Points)
  • Marriott

Airlines

  • Aer Lingus
  • Aero Mexico (5 MR = 8 Premier Points)
  • Air Canada
  • Air France / KLM Flying Blue
  • Air Italia Millemiglia
  • Asia Miles
  • Avianca Lifemiles
  • British Airways
  • Delta Airlines
  • El Al Israel Airlines (50 MR = 1 Matmid Point)
  • Emirates
  • Etihad Guest
  • Hawaiian Airlines
  • Iberia
  • JetBlue (5 MR = 4 TrueBlue Points)
  • Nippon Airways
  • Singapore Airlines
  • Virgin Atlantic

Your mileage may vary for each partner. But for most partners, you should be able to easily redeem your points for at least 1.5 cents per point (CPP).

Other Options

I do not recommend redeeming for gift cards, merchandise, or statement credits. You will earn less than 1 CPP using these options. If cash back or gift cards are what you want, this card is probably not for you.

Don’t confuse this card with the Amex Blue Cash Preferred (BCP) Card. The BCP earns cash back and not points on similar purchases. This card might be a better option if cash back is more desirable than points.

Benefits

Despite its $95 annual fee, the Amex Everyday Preferred Card is not known for its perks. However, you still receive standard Amex benefits for being a card-member.

If you’re unhappy with a purchase, the Return Protection benefit helps you get your money back. American Express is the best in the credit card industry in helping cardholders with returns.

Rules & Regulations

This card is subject to Amex’s Once Per Lifetime Rule, which states that you can only receive a sign-up bonus on any card once ever. My suggestion is to apply when the number of points is highest, and the minimum spend is lowest. If you can afford to spend $2,000 in 3 months, wait until the 30,000-point bonus comes.

Similar Cards

American Express Everyday Card

This is the Everyday Preferred card’s smaller “sibling”. It earns 2x MR points at Grocery Stores and 1x on everything else (including gas stations). If you plan to use your card between 20 and 30 times per month, this card might be better for you.

Like the Everyday Preferred, you will still receive a points bonus. However, this bonus is only 20% and the threshold is using the card 20 times per month. You can earn 2.4x points at Grocery Stores and 1.2x on everything else with the points bonus.

This card has no annual fee and a public sign-up bonus of 10,000 MR points. It can be earned after spending just $1,000 in the first 3 months. The bonus has been as high as 15,000 points in the past.

Downgrading to this card is a great alternative to cancelling your Everyday Preferred Card (if you decide to do so). This way, you will maintain your MR points balance, your credit history, and your relationship with American Express.

Chase Sapphire Preferred

This card is Chase’s most comparable competitor to the Everyday Preferred. Both cards have $95 annual fees, but the Sapphire’s is waived the first year. The Sapphire Preferred has a sign-up bonus of 50,000 UR points after spending $4,000 in the first three months.

Conversely, you will earn 2x Chase Ultimate Rewards (UR) points on all Dining and Travel purchases around the world. The Sapphire Preferred also has better perks and travel insurances than the Everyday Preferred. If perks and a modest annual fee are what you’re after, this card is a better option.

Citi Premier

Citi’s mid-tier card provides you the opportunity to earn Citi Thank You (TY) points for a $95 annual fee. If you often travel internationally, Citi’s partners might be a good fit for you. However, this card is not such a good fit for domestic travelers, despite its nice earning structure.

You will earn 3x TY points at Gas Stations and Travel. You will also earn 2x points on Dining and Entertainment, and 1x points on everything else. The Citi Premier also has a few nice perks that are comparable to those from the Chase Sapphire Preferred.

This card has a sign-up bonus of 50,000 TY points after spending $4,000 in the first three months.

Final Draw

The Amex Everyday Preferred Card is a great card for earning MR points stateside. While this card is not a perks card, it’s a great earner. You also can transfer MR points to Amex’s travel partners for a modest annual fee.

This is a great card for travelers who spend heavily at the grocery store and gas station. But those who want more perks or more travel-oriented bonus categories should look elsewhere.