Comparing the Amex EveryDay and EveryDay Preferred Cards

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Link: Amex EveryDay Card and Amex EveryDay Preferred Card

A few months ago American Express launched a new line of credit card products marketed primarily towards the “busy mom” market, the Amex EveryDay Card and Amex EveryDay Preferred Card.

The premise of both cards is that in addition to receiving points for your purchases, you receive bonus points for reaching certain transaction thresholds each month.

I just assume that marinating chicken is something that makes sense to people who know how to cook more than microwave popcorn 😉

Anyway, I like these new offerings because both cards accrue Membership Rewards points, which I find to be among the most valuable points currencies out there. And since it has been a point of confusion, it’s worth clarifying that the cards earn “real” Membership Rewards points, not just the type of points that can only be converted into Membership Rewards points in conjunction with another card. This actually makes the EveryDay Card the first no annual fee card which accrues “premium” Membership Rewards points.

Amex EveryDay vs. Amex EveryDay Preferred

The basic benefits of each card are as follows:
Amex EveryDay® Credit Card

  • Annual fee: $0
  • Sign-up bonus: Earn 10,000 Membership Rewards points after spending $1,000 within 90 days
  • Earnings rates: 2x Membership Rewards points per dollar spent at U.S. supermarkets, for up to $6,000 per year of spend; 1x Membership Rewards point per dollar spent on everything else
  • Spending bonus: If you use the card to make 20 or more purchases during a billing cycle you get 20% extra points on all those purchases

Amex EveryDay® Preferred Credit Card

  • Annual fee: $95
  • Sign-up bonus: Earn 15,000 Membership Rewards points after spending $1,000 within 90 days
  • Earnings rates: 3x Membership Rewards points per dollar spent at U.S. supermarkets, for up to $6,000 per year of spend; 2x Membership Rewards points per dollar at U.S. standalone gas stations; 1x Membership Rewards point per dollar spent on everything else
  • Spending bonus: If you use the card to make 30 or more purchases during a billing cycle you get 50% extra points on all those purchases

Earning Membership Rewards Points

As a point of comparison, the two other major cards earning Membership Rewards points come with the following benefits:

Premier Rewards Gold Card from American Express

  • Annual fee: $0 introductory annual fee for the first year, then $175
  • Sign-up bonus: 25,000 Membership Rewards points after spending $2,000 within 90 days
  • Earnings rates: 3x Membership Rewards points on airfare purchased directly with airlines; 2x Membership Rewards points per dollar spent at U.S. supermarkets and U.S. gas stations; 1x Membership Rewards point per dollar spent on everything else

The Platinum Card® from American Express

  • Annual fee: $550
  • Sign-up bonus: Earn 60,000 points after you spend $5,000 on purchases on your new Card in your first 3 months (there’s also the Mercedes Benz Platinum Card from American Express version of the card with a 50,000 point sign-up bonus)
  • Earnings rates: 5x Membership Rewards points per dollar spent on airfare purchased directly with the airlines, 1x Membership Rewards point per dollar spent on everything
  • Other benefits: a $200 annual airline fee credit, lounge access with Delta and Priority Pass, Global Entry fee waiver, access to American Express Fine Hotels & Resorts, etc.

It’s great to have a no annual fee card that that accrues Membership Rewards points, and it’s awesome that the Amex EveryDay Credit Card even offers a category bonus beyond that. You earn double points for supermarket purchases, and if you make 20 purchases in a billing cycle you’re really earning 1.2 Membership Rewards points per dollar spent, and 2.4 Membership Rewards points per dollar spent at supermarkets.

The EveryDay Preferred Card also has the potential to be extremely valuable. You’re earning three points per dollar at supermarkets and two points per dollar at gas stations, plus you get a 50% bonus when you make 30 purchases in a billing cycle. That means you’re earning 4.5 points per dollar spent at supermarkets, 3.0 points per dollar spent at gas stations, and 1.5 points per dollar spent on everything else. That’s a pretty good return for a card with a $95 annual fee.

In terms of points earning, the main competitor here is the Premier Rewards Gold. Now if you’re going to get the EveryDay Preferred Card and maximize it with 30 purchases per billing period (which you should), you’re looking at earning 4.5 Membership Rewards points per dollar spent at supermarkets, and 3.0 Membership Rewards points per dollar spent at gas stations.

American Express EveryDay Preferred Credit CardPremier Rewards Gold Card from American Express
Annual fees:$95$195 ($0 introductory annual fee for the first year)
Sign-up bonuses:Earn 15,000 Membership Rewards® points after you make $1,000 in purchases with your new Card in the first three months.
Terms and limitations apply.
25,000 Membership Rewards points after spending $2,000 within three months
Terms and limitations apply.
Earnings rates:- 3x points at U.S. supermarkets (up to $6,000 per year)
- 2x points at gas stations
- 1x points on everything else
- 3x points on airfare
- 2x points on restaurants, gas, and at supermarkets in the U.S.
- 1x points on everything else
Spending bonuses:50% points bonus when you make 30 or more purchases during a billing cycleN/A

So unless you have a significant amount of domestic airline spend, you’re likely going to be better off with the EveryDay Preferred, and using a different credit card for your airline ticket purchases. If maximizing the Everyday Preferred Card with 30 purchases per billing cycle you’re earning an additional 2.5 Membership Rewards points per dollar on supermarket purchases and an additional 1.0 Membership Rewards points per dollar on gas stations over what you’d earn on the Premier Rewards Gold Card.

Amex EveryDay Cards vs. Blue Cash Everyday Cards

I honestly find the naming conventions between these two groups of products perplexing, as it seems like it would be helpful to have more differentiation between the card names, but that’s just me. I’ve been getting a lot of questions from people thinking the cards are the same, so I thought it would be helpful to go through the differences.

Fundamentally, the biggest difference between the Amex EveryDay Cards and the Blue Cash Cards is that the EveryDay Cards earn Membership Rewards points, while the Blue Cash Cards earn Reward Dollars, which are effectively a statement credit.

Amex EveryDay Credit CardAmex EveryDay Preferred Credit CardBlue Cash Everyday® Card from American ExpressBlue Cash Preferred® Card from American Express
Annual fees$0$95$0$95
Sign-up bonusesEarn 10,000 Membership Rewards® points after you make $1,000 in purchases with your new Card in the first three months.Earn 15,000 Membership Rewards® points after you make $1,000 in purchases with your new Card in the first three months.Earn $100 back after you spend $1,000 in purchases on your new Card within the first 3 months. You will receive cash back in the form of statement credits.Earn $150 back after you spend $1,000 in purchases on your new Card within the first 3 months. You will receive cash back in the form of statement credits.
Earnings rates2x Membership Rewards points per dollar spent at U.S. supermarkets, for up to $6,000 per year of spend

1x Membership Rewards point per dollar spent on everything else

Terms and limitations apply
3x Membership Rewards points per dollar spent at U.S. supermarkets, for up to $6,000 per year of spend

2x Membership Rewards points per dollar at U.S. standalone gas stations

1x Membership Rewards point per dollar spent on everything else

Terms and limitations apply
3% at U.S. supermarkets on up to $6,000 per year in purchases

2% at U.S. gas stations & select U.S. dept stores

1% on other purchases

Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.

Terms apply
6% at U.S. supermarkets on up to $6,000 per year in purchases

3% at U.S. gas stations & select U.S. dept stores

1% on other purchases

Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.

Terms apply

Comparing earnings rates at grocery stores

For purposes of comparison, lets assume that you complete the 20 and 30 transactions per billing cycle on the Amex EveryDay Card and Amex EveryDay Preferred Card, which would earn you a 20% or 30% bonus on all points earned, respectively.

All four cards offer bonus points at US supermarkets, up to $6,000 per year in purchases.  If you were to max out that spend category (which at $500 per month seems reasonable), the points would break down as follows:

value Membership Rewards points at 1.8 cents each, so I’d almost always prefer to accrue those over cash, but others might value them differently, and the 6% cash back with the Blue Cash Preferred is tough to beat.

Comparing the Amex EveryDay Card to the Blue Cash Everyday Card, you basically have the choice between 14,400 Membership Rewards and a $180 statement credit, so if you value Membership Rewards points at more than 1.25 cents each you’re better off with the American Express EveryDay Card.

Comparing the Amex EveryDay Preferred Card to the Blue Cash Preferred Card, you basically have the choice between 27,000 Membership Rewards points and a $360 statement credit, so if you value Membership Rewards points at more than 1.33 cents each you’re better off with the American Express EveryDay Preferred Card.

Comparing earnings rates at gas stations

Unlike the bonus categories at grocery stores, there’s no limit to the bonuses at gas stations.

This is one area where the Blue Cash Everyday Card potentially comes out ahead. It offers 2% cashback at gas stations, while the American Express EveryDay Card doesn’t offer bonuses for gas station spend, meaning you earn 1.2 Membership Rewards points per dollar spent (1.0 point plus a 20% bonus if you make 20 transactions in a billing cycle). So if you value Membership Rewards points at more than 1.67 cents each, you’re better off with the Amex EveryDay Card, but otherwise you’re better off with the Blue Cash Everyday Card.

Comparing the American Express EveryDay Preferred Card to the Blue Cash Preferred Card, you basically have the choice between 3.0 Membership Rewards points per dollar spent (2.0 points plus a 50% bonus if you make 30 transactions in a billing cycle) and 3% cashback. So if you value Membership Rewards points at over a cent each, you’re better off with the Amex EveryDay Preferred Card for spend at gas stations.

All four of these cards are really compelling for everyday spend and bonus categories. Both the cashback and Membership Rewards accruing versions of the products have a no annual fee version that’s incredibly rewarding, and even the versions with the annual fee have a heck of a value proposition.

Bottom line:

I think both the Amex EveryDay Card and Amex EveryDay Preferred Card are great additions to the Membership Rewards portfolio, and it’s nice to see some more competitive products from American Express. For me personally, the EveryDay cards will encourage me to shift some of my spend that’s been going to my Chase Sapphire Preferred® Card back to American Express.

I’d argue the EveryDay Card is one of the most lucrative no annual fee cards, while the EveryDay Preferred is one of the most lucrative cards for everyday spend.

What do you think of the new Amex EveryDay and Amex EveryDay Preferred Cards? Which one interests you more?

Link: Amex EveryDay Card and Amex EveryDay Preferred Card

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Comments

  1. @Rami – care to share? I can’t think of anything outside of booking travel through the Amex site.

  2. Can you share more about your affiliate relationship with Amex?

    I am curious as to whether the recent surge in Amex posts over the past week is related to something having changed with what Amex is offering that I am missing or whether this is driven by person financial considerations.

    I feel like I’ve seen more Amex Platinum links over the past week than the previous 6 months combined, but I don’t see anything that has changed about the offer which would make it more newsworthy.

    Thanks in advance

  3. Hi Ben. I went for the everyday rather than the preferred for the simple reason that while I love the card I could see only using it 20 times per month. To get to 50 I would have to switch from using the Sapphire in restaurants for lunch and dinner which would be a significant hit in points earning. That nudged me to getting the free version of the Everyday.

  4. I am in the ‘busy mom’ demographic?

    Man, do I have some soul searching to do.

    Which are the manly cards for manly men? 🙂

  5. The sweet spot for the (Old 5%) Blue Cash is at drug stores buying GCs that would only be 1.5X with the Everyday Preferred. But 4.5X year round for groceries is a no brainer……….has to be in the wallet…..

  6. @Rami – What are you talking about? There are no bonus categories for the Platinum card, you get 1 point per $ on everything.

  7. Lucky I’m curious – are you going to shift spending from Amex PRG to the Everyday or Everyday Preferred? I’m trying to decide if I’d come out ahead using PRG or one of the Everyday cards for grocery spend – and I wonder if I could come up with 30 swipes a month….. is that what you’re going to do to maximize it?

  8. Is there a dollar minimum to be considered a transaction. Can a pack of gum be considered a transaction?

  9. @ stacey — Yep, I’m dumping the Premier Rewards Gold in favor of the EveryDay Preferred. Given my spend patterns, just makes more sense.

  10. The PRG is not capped for grocery purchases. Poster above is getting confused with the business gold card bonus categories. So yes, if you spend significantly (like 20-30k a month) at groceries, the preferred/everyday become much worse propositions.

  11. 6k grocery cap on Everyday cards is per calendar year. I suggest get it before year is up and you essentially earn 4.5x on 12k grocery spend over a little more than a year. Add 15k bonus on top of that, you are looking at nearly 70k points. If timed correctly, you only pay $95 AF once and you get 70K MR (before even considering gas and all other purchases). If you are not a mad MS-er or just want to diversify, this would be a good card IMO.

  12. I’m also letting my PRG and Bus PRG go when the AFs come due. In fact, I’m letting all of my other AMEX cards go at that point, with the sole exception being the Everyday Preferred.

    Using Everyday Preferred for all my grocery shopping, and for gas when the Chase Preferred doesn’t have it as a category bonus.. I have no problem making 30 grocery and gas purchases a month, since I already shop at several grocery stores per trip..

    I also like that the AMEX website shows you how many purchases you’ve made per billing cycle, updated at noon daily, so there’s no problem making sure you hit the quota. If you’re one or two charges short close to the deadline, just divide your purchases up into separate charges. No need for an extra trip. But since I also use it when I’m doing non-bonused purchases for small $ amounts, I rarely need to worry about that.

  13. @ Lucky – thanks for the analysis. Will try to pick the Preferred version soon. I think it’s a no-brainer to pick it up over the regular version ($95 fee can be offset by 6,000-7,000 MR points so you don’t even need to max out grocery spending). Any idea where I can find what stores get coded as supermarkets? Specifically curious about Whole Foods and Wal-Mart. Looking at my SPG Amex, WF comes through as “Merchandise & Supplies – Groceries / GROCERY STORES” and WM as “Merchandise & Supplies – Wholesale Stores / DISCOUNT STORE”.

    @ Levy Flight – you don’t need 50 transactions for the Preferred – just 30, so it’s only 10 more than the regular version.

  14. My husband just got a direct mail offer for Amex Blue Cash with no annual fee, $250.00 back after $1000 spend in 3 months, which I think is pretty decent. If you are thinking about Blue Cash, I would contact Amex to see if they would give you this offer rather than standard $50.00

  15. How would you rate the No Fee Everyday Preferred to the SPG Amex? I’ve had the SPG for a couple of years, and the annual fee is coming due. I’m almost to the point of redeeming all my SPG points for a hotel stay, and I usually don’t stay at Starwood otherwise. Maybe it’s time to switch?

  16. @ Joe — They’re both fantastic cards. If you make the necessary purchases to trigger the 20% bonus, I’d say that 1.2 Membership Rewards points is worth roughly as much as one Starpoint.

  17. Does Amex considered the ED and ED Preferred the same ‘product’? In other words, could you get the signup bonus for each card?

    Thanks!

  18. @ Donald — They’re different products, so as far as I know you should be able to have both cards.

  19. Regarding Amex Blue Cash Pref vs Everyday Pref
    I am looking for a cash back card. As I understand it I can use the Everyday Pref card to give me statement credit. This would give me an additional 50% bonus (over 30 transactions). Are the point given as a statement credit the same value as the cash back on the Blue Cash Pref card? In other words, when used for statement credit is it 1 point per $1?

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