Amex Everyday vs Preferred: Which Card Wins for You?
Choosing the right credit card can feel overwhelming, especially with so many options promising rewards and benefits. If you’re considering American Express, you’ve likely come across the Amex Everyday and the Preferred Rewards Gold card. Both offer compelling features, but they cater to different spending habits and financial goals.
This comparison dives deep into the Amex Everyday vs Preferred, helping you understand the key differences. We’ll explore their reward structures, annual fees, and perks to determine which card aligns best with your lifestyle. Get ready to uncover the hidden gems and potential pitfalls of each card.
Whether you’re a casual spender or a frequent traveler, this guide will provide a clear picture. We’ll analyze their earning rates on everyday purchases, travel benefits, and other valuable extras. By the end, you’ll be equipped to make an informed decision and maximize your rewards potential with either the Amex Everyday or the Preferred.
Specs at a Glance:
| Feature | EveryDay | Preferred |
|---|---|---|
| Welcome Bonus | Yes | Yes |
| Intro APR on Purchases | No | No |
| Intro APR on Balance Transfers | No | No |
| Rewards on Groceries | Yes | Yes |
| Rewards on Gas | No | Yes |
| Rewards on Dining | No | Yes |
| Rewards on Travel | Yes | Yes |
| Annual Fee | No | Yes |
| Foreign Transaction Fees | Yes | No |
| 0% APR Period | No | No |
| Card Design | Standard | Premium |
| Purchase Protection | Yes | Yes |
Feature-by-Feature Breakdown
Annual Fee
- Amex Everyday: No annual fee. This makes it a great option for those who want a card without the ongoing cost. However, it may come with fewer perks than cards with annual fees.
- Preferred: $95 annual fee. This fee unlocks additional benefits and rewards, but it requires spending enough to offset the cost. Consider if the perks outweigh the expense for your spending habits.
- Winner: Everyday
Rewards on Everyday Spending
- Amex Everyday: Earns 2x points at U.S. supermarkets (up to $6,000 per year, then 1x) and 1x on all other purchases. It’s a solid option for supermarket spending. However, the bonus category has a spending limit.
- Preferred: Earns 3x points at U.S. supermarkets (up to $6,000 per year, then 1x), 2x at U.S. gas stations, and 1x on all other purchases. It provides higher rewards in key spending categories. The higher rewards can outweigh the annual fee if you spend enough in those categories.
- Winner: Preferred
Rewards on Travel Spending
- Amex Everyday: Earns 1x point on all travel purchases. It doesn’t offer any bonus categories.
- Preferred: Earns 1x point on all travel purchases. It doesn’t offer any bonus categories.
- Winner: Tie
Welcome Bonus
- Amex Everyday: Typically offers a lower welcome bonus. The bonus is a one-time reward for new cardholders, but may require a certain amount of spending within the first few months.
- Preferred: Typically offers a higher welcome bonus. The bonus can be a significant boost to your rewards. However, it often requires a higher spending threshold to qualify.
- Winner: Preferred
0% Intro APR
- Amex Everyday: Offers a 0% intro APR on purchases for a period. This can be beneficial for financing purchases and avoiding interest charges during the introductory period.
- Preferred: Does not offer a 0% intro APR on purchases. This means interest will begin accruing on purchases from the start.
- Winner: Everyday
Flexibility with Points
- Amex Everyday: Points can be redeemed for a variety of rewards, including statement credits, gift cards, and merchandise. Offers good flexibility.
- Preferred: Points can be redeemed for a variety of rewards, including statement credits, gift cards, and merchandise. Offers good flexibility.
- Winner: Tie
Travel Benefits
- Amex Everyday: Offers limited travel benefits, such as car rental loss and damage insurance. May not be ideal for frequent travelers.
- Preferred: Offers some travel benefits, such as car rental loss and damage insurance, and access to the American Express Global Assist Hotline. Benefits are limited.
- Winner: Tie
Spending Thresholds
- Amex Everyday: Has a lower spending threshold to earn the welcome bonus. Offers a good entry point.
- Preferred: Has a higher spending threshold to earn the welcome bonus. Requires more spending to unlock the rewards.
- Winner: Everyday
Winner by Category:
| Category | Winner |
|---|---|
| No Annual Fee | amex everyday |
| Rewards on Groceries | Tie |
| Rewards on Gas | Preferred |
| Rewards on Dining | Preferred |
| Rewards on Travel | Tie |
| Foreign Transaction Fees | Preferred |
| Overall Value | It Depends |
What They Have in Common:
- Rewards on Everyday Spending: Both cards offer rewards on everyday spending, although the categories and rates differ. This makes both cards useful for earning points on purchases you’re already making.
- American Express Benefits: Both cards come with access to American Express benefits, such as purchase protection and access to Amex Offers. This can add extra value to your card membership.
- Global Acceptance: Both cards are accepted globally, allowing you to use them on your travels. This is important for those who travel internationally.
- Fraud Protection: Both cards provide fraud protection, helping to safeguard your account from unauthorized charges. American Express has a strong reputation for customer support in this area.
- No Penalty Apr: Neither card charges a penalty APR, so you won’t be penalized with a higher interest rate if you make a late payment. However, it’s always best to pay on time.
Amex Everyday Vs Preferred Buying Guide
Earning Rewards
Both the Amex Everyday and the Amex Preferred cards offer rewards, but the structure differs. The Everyday card provides rewards on everyday spending, with bonus points on groceries and gas, and a lower annual fee. The Preferred card, on the other hand, provides higher rewards on select spending categories, especially at U.S. supermarkets and gas stations, potentially leading to faster accumulation of Membership Rewards points. Consider your spending habits; if you spend heavily in the bonus categories, the Preferred is better. If your spending is more diverse, the Everyday might be a better fit.
Annual Fees & Costs
The annual fees for these cards are a key differentiator. The Amex Everyday card has a lower or no annual fee, making it an appealing option for those seeking a card without ongoing costs. The Preferred card has a moderate annual fee, which can be justified if you maximize the rewards in its bonus categories. Evaluate how much you spend in those categories and whether the extra rewards earned outweigh the annual fee. Consider also any other fees, such as late payment fees, to understand the total cost of ownership.
Spending Habits & Patterns
Your spending habits are vital when choosing between these cards. If you tend to spend a lot on groceries and gas, the Preferred card’s higher rewards in these categories will likely be more advantageous. If your spending is more general, or you prefer a card with no annual fee, the Everyday card could be a better match. Track your spending across various categories to determine which card aligns better with your purchasing behavior. Analyze your spending patterns over several months to get an accurate picture.
Travel Benefits & Perks
The travel benefits of these cards are modest. Neither card offers extensive travel perks like airport lounge access or comprehensive travel insurance coverage. However, both cards offer purchase protection and extended warranty benefits. If you’re a frequent traveler and value travel perks, these cards may not be the best options. If you rarely travel and prioritize rewards on everyday spending, the travel benefits of either card are sufficient for occasional use.
Interest Rates & Financing
Interest rates are a crucial factor if you carry a balance on your credit card. Both cards have variable APRs, so consider the current interest rate environment and your ability to pay your balance in full each month. Avoid carrying a balance if possible, as interest charges can quickly offset any rewards earned. If you anticipate carrying a balance, compare the APRs offered by each card and choose the one with the more favorable rate. Paying on time is important.
Credit Score Requirements
Both cards require a good to excellent credit score for approval. Check your credit report and score before applying to assess your chances of approval. If your credit score is borderline, improving your creditworthiness can increase your chances of being approved and potentially qualify you for a better interest rate. Ensure your credit history is accurate and free of errors. Consider applying for the card that best matches your credit profile.
Who Should Buy What?
Buy amex everyday If…
- You prefer a card with no annual fee.
- You spend a significant amount on groceries and want to earn rewards.
- You want a card that’s easy to manage and doesn’t require a lot of spending to justify the annual fee.
- You’re looking for a card to build or rebuild your credit profile.
Buy preferred If…
- You’re willing to pay an annual fee for more rewards and benefits.
- You spend a lot on gas, dining, and travel.
- You want a card with no foreign transaction fees if you travel internationally.
- You want a card that offers more premium benefits and perks.
Frequently Asked Questions
What are the key differences between Amex Everyday and Amex Preferred?
The Amex Preferred card offers higher rewards rates on U.S. supermarket and gas station purchases, along with a higher annual fee. The Amex Everyday card has a lower or no annual fee and provides rewards on everyday spending, with bonus points on groceries and gas. The key differences lie in their rewards structures, annual fees, and the spending habits they best suit.
Which card is better for everyday spending?
The Amex Everyday card is often better for everyday spending, as it has no annual fee. It offers rewards on everyday purchases, making it a good choice for those who want a simple rewards program. It is suitable for those whose spending is more diverse and not centered on specific bonus categories, making it a well-rounded option.
Does the Amex Preferred offer any travel benefits?
The Amex Preferred card, like the Everyday card, does not offer extensive travel benefits compared to premium travel cards. However, both cards do provide benefits such as purchase protection and extended warranty coverage on eligible purchases. These features may offer some peace of mind on your purchases, though not aimed at extensive travel.
What credit score is needed to apply for either card?
Both the Amex Everyday and Amex Preferred cards typically require a good to excellent credit score for approval. This means a credit score generally above 670. Ensure your credit report is accurate and your credit history is in good standing before applying. Maintaining a good credit score is important.
How do the rewards points work on these cards?
Both cards earn Membership Rewards points, which can be redeemed for various options like statement credits, gift cards, and travel. The Amex Preferred card tends to offer higher rewards rates, especially on purchases at U.S. supermarkets and gas stations. The Everyday card offers bonus rewards on groceries and gas. Carefully consider redemption options.
Is the annual fee worth it for the Amex Preferred?
Whether the annual fee is worth it depends on your spending habits. If you spend a significant amount on U.S. supermarkets and gas stations, the higher rewards rates on the Preferred card can offset the fee. It is important to calculate the value of rewards earned and compare it to the annual fee. Assess your spending patterns.
Can I transfer Membership Rewards points from these cards?
Yes, both the Amex Everyday and Amex Preferred cards allow you to transfer your Membership Rewards points to a variety of airline and hotel partners. This can provide significant value when redeeming points for travel. Consider the transfer rates and redemption options to maximize the value of your points when planning your travels.
Final Verdict
The Amex Preferred card is the better choice for those who spend significantly on groceries and gas, due to its higher rewards rates in these categories. While it has an annual fee, the enhanced rewards potential can justify the cost for the right user. The Everyday card is a great option for those who prefer a card with no annual fee and still want to earn rewards on everyday purchases.
Winner: Amex Preferred