What’s happening with the American Express Everyday and Everyday Preferred Cards?
I’m asking myself this question as the cards have disappeared from the AMEX website, and the card is closed to new applicants.
This change happened suddenly, and American Express didn’t announce it, so we’re left wondering what will happen to these two lesser-known but valuable Membership Rewards-earning cards.
AMEX Everyday and Everyday Preferred
The AMEX Everyday is the no-annual-fee variant of these cards and is the only free personal card which earns transferrable Membership Rewards points. When it launched, the card had bonus categories compared to the rest of the competition, but over time, it’s become less appealing. The only bonus is that it earns 2x points on U.S. supermarket spending (up to $6,000 each year). Its hook is that it rewards you for using it for “everyday” purchases. If you use the card 20 or more times per billing period, you get a 20% bonus on all points earned (for both regular spending and bonuses).
The Everyday Preferred was a card with the potential to earn a decent number of points per month. For a $95 annual fee, you earn 3x points on U.S. supermarket spending (up to $6,000 yearly) and 2x points when buying gas from U.S. gas stations. Using the card 30 or more times per billing period gives you a 50% bonus on all points earned.
For a while, this was our go-to card for everyday expenses. After hitting 30 transactions, we’d earn 4.5X points for supermarkets, 3X at gas stations and 1.5X for everything else.
The Everyday Cards Problem
The Everyday cards were initially designed to be the primary card in your wallet, suitable for everyday expenses such as coffee, gas, and meals. Users could earn a bonus after reaching a certain number of transactions within a billing period. However, with the introduction of cards like Citi Double Cash, Capital One Venture Rewards, and Chase Freedom Unlimited, which offer higher rewards for all purchases, the value proposition of the Everyday cards has changed.
So what is AMEX going to do?
I’ve seen some saying that AMEX will grandfather the cards for existing cardholders while preventing new applicants. This doesn’t make sense, as it would leave AMEX without an “everyday” card in its personal card portfolio. They still offer the Blue Business Plus card to business customers, which earns 2X Membership Rewards on all purchases with no annual fee.
Others have speculated that AMEX is going to relaunch the Everyday cards with a new set of benefits. To support their hypothesis, they say that American Express has recently redesigned the cards. Here’s a look at the new card design which shows up on our AMEX account.
Referral and upgrade links aren’t working
I’m going with the refresh idea, and here’s why.
When I look at the AMEX home page, I’ll see an offer to upgrade my Everyday card to the Everyday Preferred.
In addition, the AMEX website will allow me to create a referral link to the Everyday card. However, when you use the link, the page shows no eligible cards.
Final Thought
I’m hoping the Everyday products don’t disappear. They were both in need of a major update, and my feeling is that this is exactly what’s happening. Since AMEX already offers a 2X Membership Rewards business card, there’s no reason not to see the same, or at least a 1.5X no-annual-fee Everyday card to compete against Chase’s Freedom Unlimited.
One extra point is that having an Everyday card with an authorized user was one of the easiest ways to legally transfer Membership Rewards points to a family member’s loyalty accounts.
Since we still have our Everyday card, I’ll be monitoring it closely to see if it has changed.
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