Anyone interested in getting an American Express card as a way to get more rewards for their monthly spending has more than a few options, but two warrant a closer look as they stand out in how much utility the offer to users: the American Express EveryDay Card and the American Express Blue Cash Everyday Card.
Although the two cards are very similar in their rates and teaser offers, they have very different rewards structures that could offer different value for a variety of consumers. Read on to figure out which credit card you should get.
|AmEx EveryDay Card vs. Blue Cash Everyday Card at a Glance|
|Card||AmEx EveryDay Credit Card||Blue Cash Everyday Card|
|Rates||14.74% – 25.74% APR||13.99% – 24.99% APR|
|Rewards Type||Points||Cash back|
|Intro APR||0% for the first 15 months|
0% on balance transfers for the first 15 months
|0% for the first 15 months|
0% on balance transfers for the first 15 months
|Balance-Transfer Fee||$0||$5 or 3 percent, whichever is greater|
|Intro Offers||25,000 points if you charge $2,000 or more in the first 3 months||$200 cash back if you charge $1,000 or more in the first 3 months|
In This Review:
- What You Need to Know about the EveryDay Card
- What You Need to Know About the Blue Cash Everyday Card
- Best Features of the EveryDay Card
- Best Features of the Blue Cash Everyday Card
- AmEx’s EveryDay Card vs. Blue Cash Everday Card: Which to Pick?
Here are the most important features of the EveryDay Card:
- No balance transfer fee
- 20 percent bonus points when you make 20 or more purchases in a billing cycle
- Double points at U.S. supermarkets on up to $6,000 a year in purchases
The double points at supermarkets paired with the chance to get an additional 20 percent with active use make this a good rewards card for the right consumer, but the ability to get 15 months of 0% APR on balance transfers without paying a balance transfer fee makes for easy money if you have existing credit card debt.
Best For: People with existing credit card debt interested in reducing interest costs
Here are the most important features of the Blue Cash Everyday Card:
- 3 percent cash back at U.S. supermarkets on up to $6,000 a year in purchases
- 2 percent cash back at U.S. gas stations
- 1 percent cash back on all other purchases
The straightforward nature of the cash-back rewards for this American Express credit card make it easy to understand how much you’re saving by using the card, and the bonus categories for supermarkets and gas stations should make it easy to maximize your cash back.
Best For: People with routinely high costs for groceries and gas
The absence of a balance transfer fee means that anyone with credit card debt — and a high-enough credit score — is essentially leaving money on the table by not signing up for an AmEx EveryDay Card. You can avoid making any interest payments for 15 months without paying any additional cost, something that could save you hundreds of dollars depending on how much debt you have.
And even if you aren’t in need of the balance transfer option, the rewards points on offer would appear to be pretty generous, especially if you can get the 20 percent bump that comes with at least 20 transactions per billing period. The points roughly translate to as much as a penny a point based on the price of redemption value for gift cards, but you can also redeem points to pay your bill at a rate of $6.00 for every 1,000 points.
Check Out: Best Rewards Credit Cards
The 3 percent cash back on your first $6,000 of spending at supermarkets is worth $180 a year, and you’ll still get 1 percent on any spending over the cap. There’s also no cap on the 2 percent back at gas stations, meaning anyone with a long commute can save on their transportation costs.
What’s more, it’s much easier to calculate the value of your rewards when they come in the form of cash as opposed to points. You can use your rewards however you see fit rather than having to rely on what’s offered through the AmEx membership rewards center.
If you’re in need of a good balance transfer card, it’s hard to find any issues with the EveryDay card’s 15 months of 0% APR without a balance transfer fee. For everyone else, the value of each of these AmEx cards is largely contingent on whether or not you can redeem your points for things you want/need.
If you are triggering the 20 percent in bonus points with the EveryDay card each month and then redeeming them for close to the $0.01 value, you’re effectively getting a 1.2 percent cash back rate. However, converting those points to actual cash by paying off part of your statement with them only gets you 60 percent of that value.
Meanwhile, the AmEx Blue Cash Everyday card’s straight cash back rewards are clearly much easier to utilize, and the 3 percent back on your first $6,000 spent at supermarkets is clearly a better value than you’ll get from the EveryDay card. Likewise, the $200 in cash back for spending $1,000 or more in the first three months compares very favorably to the $150 cash value of the 25,000 rewards points you would get with the EveryDay card.
Up Next: American Express Platinum Review
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Editorial Note: This content is not provided by American Express. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been endorsed by American Express.