01 / Fit
Who this card fits
The Amex EveryDay Credit Card fits when your balance is small enough to clear inside a roughly 15-month window and you'd like to earn rewards on ongoing spending in the meantime. It is the only card in the comparison set that earns transferable Membership Rewards points, which keeps the card useful long after the balance is cleared. The transaction-frequency bonus quietly increases earnings if you naturally use the card most days. Best fit: balances under $8,000 with a FICO of 670 or above.
02 / Terms
Balance transfer terms
- ■15-month 0% intro APR on balance transfers and purchases
- ■3% balance transfer fee
- ■2x Membership Rewards points at U.S. supermarkets (up to $6,000/year)
- ■20% point bonus when you make 20+ transactions per billing period
- ■No annual fee
Notable: Earn Membership Rewards points while paying off debt, with 20% bonus for frequent use
03 / Scenario
Payoff scenario: $7,500 balance
Transfer Fee
$225
Interest Avoided
$2,143
Net Saving
$1,918
Monthly Payment
$500
Based on $7,500 transferred from a card around 22.99% APR, paid off in full over 15 months.
04 / Trade-offs
For and against (balance transfer use)
For
- +Lower transfer fee tier (around 3%) than most peers
- +Earns Membership Rewards points on everyday spending, with extra points at U.S. supermarkets up to a yearly cap
- +Transaction-frequency bonus increases all points earned in a billing period when you make 20+ transactions
- +0% intro APR on both balance transfers and purchases for the same window
- +No annual fee
- +Membership Rewards points are transferable to a long list of airline and hotel partners
Against
- −Shortest 0% window in the comparison set
- −Shorter transfer-request window than some peer cards
- −The supermarket bonus has an annual spending cap
- −Penalty APR can apply on late payments
- −Acceptance: American Express acceptance has improved but still trails Visa and Mastercard at some merchants
05 / Closest Peers
How it stacks up against the closest peers
| Card | 0% Window | Fee | Reverts To | Min FICO |
|---|---|---|---|---|
| Amex EveryDay Credit Card (this card) | 15 mo | 3% | 17.49% - 28.49% | 670+ |
| Discover it Balance Transfer | 18 mo | 3% | 17.49% - 28.49% | 670+ |
| BankAmericard | 18 mo | 3% | 16.49% - 26.49% | 700+ |
06 / After Intro
After the 15-month window
After the intro window, the APR reverts to roughly 17.49% - 28.49% (variable, set by your creditworthiness and the U.S. Prime Rate). Missing a payment by 60+ days can trigger a penalty APR of up to Up to 29.99%.
For a full plan if you cannot finish paying down before the intro ends, see what happens when the 0% period ends.
07 / Application
Before you apply
- 01Aim for a FICO score of 670+ before applying. Check your score for free through your existing bank or a service like Credit Karma.
- 02Have your old card account number handy. You'll need it to initiate the transfer after approval.
- 03Request the transfer within 60 days of account opening to qualify for the 0% rate.
- 04Set up autopay the moment the new card activates, even before the transfer completes. That protects the promotional rate from day one.
08 / Q & A
Amex EveryDay Credit Card questions
01Are Membership Rewards points worth carrying a balance for?
On their own, no. The point of this card for our comparison is the combination of a lower transfer fee, a 0% intro APR, and the option to earn points on whatever new spending you have to do anyway. Points are most valuable when transferred to airline or hotel partners for travel redemptions, often well above one cent per point.
02How does the transaction-frequency bonus work?
If you make 20 or more separate transactions in a billing period (roughly one each weekday), the issuer increases all Membership Rewards points earned that period by a flat percentage. The bonus applies to every category, not just supermarkets.
03Can I transfer from another American Express card to this one?
No. The same-issuer restriction applies. If your current high-interest card is any American Express product, you'll need to use a different issuer for the destination card.
Next Step
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