American Express has some major competition in the travel credit card market these days from the likes of Chase and Barclays Bank, but tonight at the Oscars they will announce their new "EveryDay" credit card to the masses. One of the most unique things about this card is the fact that you get a bonus for the amount of transactions you make in one month vs. only the amount of money that you spend in certain categories. This will also be their first credit card to offer Membership Reward points which is usually reserved for their charge cards (their Green, Gold, Platinum, and Centurion cards) and can be transferred directly to their travel partners like Delta, Starwood, and Emirates . They will also be releasing an app to keep track of the amount of transactions that you make.
Personally, I think the method that AmEx is introducing to get bonus points with this card is simply a gamification ploy. You get 1 MR point per dollar spent with a few bonus category spends that gets up to 3 points her dollar spent (on groceries and gas). If you perform a certain amount of transactions you then get a percentage bonus based on the total amount of money spent on the transactions. This could potentially be great for people who spend a lot on groceries and gas, but lacks in other areas such as dining and travel when compared with the Chase Sapphire Preferred card or Barclaycard Arrival.
There will be two cards introduced, one with an annual fee and one without. H/T to The Points Guys for a detailed list of the differences between the two EveryDay cards:
EveryDay Credit Card (No Annual Fee)
- Sign-up bonus: 10,000 points when you spend $1,000 in 90 days
- Earning: Earn 2x Membership Rewards points at U.S. supermarkets (not including warehouse stores like Costco), on up to $6,000 per year on purchases (then 1x); and 1x points on all other purchases.
- Spending Bonus: Use the Card to make 20 or more purchases in a billing period and earn 20% extra points on all those purchases less returns and credits.
- App: A digital counter in the Amex Mobile app helps keep track of each qualifying purchase for the bonus, so Card Members always know when they’re close to earning 20% extra Membership Rewards points.
- Other features: The Card will also come with smart chip technology and a 0% introductory rate on purchases and balance transfersfor the first 15 months.
EveryDay Preferred Credit Card ($95 annual fee)
- Sign-up bonus: 15,000 points when you spend $1,000 in 90 days
- Earning: Earn 3x Membership Rewards points at U.S. supermarkets (not including warehouse stores like Costco), on up to $6,000 per year on purchases (then 1x); 2x on US standalone gas stations; and 1x points on all other purchases.
- Spending Bonus: Use the Card to make 30 or more purchases in a billing period and earn 50% extra points on all those purchases less returns and credits.
- App: A digital counter in the Amex Mobile app helps keep track of each qualifying purchase for the bonus, so Card Members always know when they’re close to earning 50% extra Membership Rewards points.
- Other features: The Card will also come with smart chip technology and a 0% introductory rate on purchases and balance transfers for the first 15 months.
- Annual fee:$95
In the meantime, check out one of the new EveryDay commercials starring Tina Fey!
[youtube https://www.youtube.com/watch?v=nCE8RdXckBI?wmode=opaque&enablejsapi=1]
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