Amex EveryDay® Credit Card: 10,000 Point Referral Offer, 0% APR on Purchases for 15 Months

The Amex EveryDay® Credit Card is a great way to earn American Express Membership Rewards points with no annual fee. Right now, there is also a welcome bonus and no balance transfer fee offer for new cardholders. Here are the highlights:

• 10,000 Membership Rewards Points welcome bonus after $1,000 in purchases in the first 3 months.
• 0% intro APR for 15 months on purchases.
• 2X points at US supermarkets on up to $6,000 per year in purchases (then 1X). 1X points on all other purchases.
• 20% more points if you make 20 or more purchases in a billing period (less returns and credits).
• No annual fee.

Note the following:

Welcome bonus offer not available to applicants who have or have had this product.

Earn Membership Rewards (MR) points with no annual fee. American Express has historically been a “premium”-only brand and most every card had an annual fee. This no-annual fee card is a move to welcome more consumers. In addition, if you have Membership Rewards points earned from other American Express cards, having this card would keep all of your MR points from expiring even if you closed those other cards (perhaps to avoid the annual fees). This way you keep the flexibility to transfer the points into a variety of airline miles or hotel points as needed. As there is no annual fee, I can keep this card open forever.

Membership Rewards points can be converted to the following airline miles (there are more, this is just a selection):

• Delta SkyMiles
• Hawaiian Airlines
• ANA Mileage Club (partner of United Airlines)
• Air Canada (partner of United Airlines)
• British Airways (partner of American Airlines)
• FlyingBlue (Air France/KLM)
• Virgin Atlantic
• Virgin America

With the 20% bonus for 20+ purchases per billing period, you would be getting 1.2 miles per dollar on all purchases and 2.4 miles per dollar at US supermarkets (up to $6,000 per year). A lot depends on how much value you can get out of those airline miles.

Unfortunately, there are many redemption options for Membership Rewards points that are worse than 1 cent per point value. Here are a few examples:

• Shop with Membership Rewards Points (~0.5 cents per point)
• Shop with Points at Amazon.com (~0.7 cents per point)
• Use points at BestBuy.com (~0.7 cents per point)
• Gift Cards (varies from 0.5 up to 1 cent per point max)

Bottom line. The Amex EveryDay® Credit Card allows you to earn and maintain Membership Rewards points with no annual fee. The welcome offer currently includes a 10,000 Membership Rewards points welcome bonus and 0% APR on purchases for 15 months.