When the application links for the American Express EveryDay & EveryDay Preferred went live earlier this week, I couldn’t help but apply.

I went for the Preferred version because it earns at a better rate and we do spend a fair amount in its main bonus category – groceries. Not to mention if we complete 30 transactions each billing cycle, we’ll earn 50% more Membership Rewards points!

So without further adieu, here’s the brand new EveryDay Preferred credit card!

American Express EveryDay Preferred

It’s pretty cheesy looking; the HUGE reflective square front and center is actually a bit annoying. It basically looks like a black and white version of the “Blue” line of Amex credit cards.

Note, again, it does come with an EMV chip, which is actually smaller than Chase’s EMV chips. Currently, it’s only Chip-and-Signature.

And here’s how things will look in your account at americanexpress.com:

An Amex Full House

There’s also a handy transaction tracker which will be VERY useful to ensure I complete 30 transactions per billing cycle.

Transaction Tracker

You can click into the transaction tracker for a more detailed look at your eligible transactions. Currently, I don’t have any.

Transaction Tracker Detail

Mobile App Transaction Tracker

Just thought I’d give anyone interested a sneak peak of the EveryDay Preferred card. The regular EveryDay card will like look exactly the same, both the physical card and the interface on the Amex website.

Has anyone else already gotten their EveryDay card?

Earlier this month, American Express announced a blockbuster of a new credit product. Two new CREDIT cards that will earn Membership Rewards points. This is a game changer because there hasn’t been a credit card that earned MR points, only charge cards that usually come with heftier annual fees.

These 2 cards were scheduled to launch April 2, 2014, but Gary has broken the news that applications are live NOW!

American Express EveryDay

• Application link
• Annual fee: $0
• Sign-up bonus: 10,000 Membership Rewards points after spending $1,000 within 90 days
• Earning: 2x Membership Rewards points per dollar spent at U.S. supermarkets, for up to $6,000 per year of spend; 1x Membership Rewards point per dollar spent on everything else
• Spending bonus: If you use the card to make 20 or more purchases during a billing cycle you earn 20% extra points on all those purchases

American Express EveryDay Preferred

• Application link
  
• Annual fee: $95
• Sign-up bonus: 15,000 Membership Rewards points after spending $1,000 within 90 days
• Earning: 3x Membership Rewards points per dollar spent at U.S. supermarkets, for up to $6,000 per year of spend; 2x Membership Rewards points per dollar at U.S. standalone gas stations; 1x Membership Rewards point per dollar spent on everything else
• Spending bonus: If you use the card to make 30 or more purchases during a billing cycle you earn 50% extra points on all those purchases

My Thoughts

Both cards become much more valuable when you complete a certain number of transactions each month. The card with the better value is the EveryDay Preferred credit card, which needs 30 transactions per month to earn 50% more points on all purchases.

Essentially, if you complete 30 transactions in a billing period, you’ll earn 4.5 points per dollar spent at supermarkets, 3 points per dollar spent at gas stations, and 1.5 points per dollar spent on everything else.

These are great earning rates for every day categories. Amex already has a credit card that will cover these categories in the Blue Cash Preferred card, but I prefer to earn MR points instead of cashback. At the very least, this is a cheap/free way to keep your MR points from expiring.

I am planning on applying for the EveryDay Preferred card in order to maximize the MR earning and re-evaluate after the first year. If I don’t find $95 worth of value in the extra points I’ve earned with the Preferred, I’ll downgrade that to the regular EveryDay card with $0 annual fee.

What are your plans for either of these cards, if any?