AmEx EveryDay Preferred (EDP) Credit Card Review (2018.10 Update: 20k Offer)

The AmEx EveryDay Preferred Credit Card (EDP) Review

2018.8 Update: It seems the 30k offer via incognito mode is dead, and the offer is only 20k now. If you can even see the AmEx Everyday 25k offer and yet still can’t see this AmEx Everyday ay Preferred 30k offer, then it proves the 30k offer is indeed dead.

2018.7 Update: According to DoC’s data points, Amazon Reload and other small valued transactions now resumes to count towards number of purchases!

2018.6 Update: Previously people use Amazon Reload to meet the 50% bonus requirement. But according to our data points, Amazon Reload now no longer counts towards number of purchases.

Application Link

Benefits

  1. 20k offer: earn 20,000 Membership Rewards (MR) Points after spending $1,000 in first 3 months. The recent best offer is 30k.
  2. We estimate that Membership Rewards (MR) are worth about 1.6 cents/point, see below for a brief introduction. So the 30k highest sign-up bonus is worth about $480!
  3. Earn 3 Membership Rewards Points per $1 spent at US supermarkets; 2 Membership Rewards Points per $1 spent at US gas stations; 1 Membership Rewards Point per $1 spent on other purchases.
  4. If you make 30 or more purchases per month, get 50% more points on those purchases: 4.5 MR (~7.2%) at US supermarkets, 3x (~4.8%) at US gas stations, 1.5x (~2.4%) on other purchases.
  5. With this card, you can get access to Amex Offer, which usually offers very good discounts at some stores, such as: spend $15 or more and get $5 back at Walmart; spend $75 or more and get $25 back on Amazon.com.
  6. Refer a friend: You can earn 10,000 bonus MR points for every approved account you refer, up to 55,000 MR points per calendar year.

Disadvantages

  1. $95 annual fee, NOT waived for the first year.
  2. Only first $6,000 purchases per calendar year at US supermarkets can earn 3x MR, after that you can only earn 1x.
  3. According to the definition by American Express, Target Walmart and Costco don’t count as supermarkets, and you can only get 1x when shopping there.
  4. This credit card is on American Express Network, not Visa or MasterCard, so some small stores may not accept it.
  5. The 3x/2x bonus categories are limited within the United States. Well, the Foreign Transaction Fee exists anyway, so better not use it outside the US.

Introduction to MR Points

Recommended Application Time

  1. You can get the sign-up bonus once in a lifetime, so be sure to apply when the historical highest offer appears.
  2. AmEx doesn’t care about the number of hard pulls.
  3. You can try to apply for it when you have a credit history of 6 months.
  4. You must wait at least 90 days between the application for ED and EDP, otherwise the application will be cancelled.
  5. Only 2 AmEx credit cards can be approved within 90 days, but this rule does not apply to charge cards. Multiple cards approved in the same day will only have one Hard Pull.
  6. You can keep at most 5 AmEx credit cards, but this rule does not apply to charge cards.

Summary

If you only want to take one credit card with you, or you can make 30 or more transactions in every month, then this credit card is the one for you! You can earn a really high rewards: 4.5 MR (~7.2%) at US supermarkets, 3x (~4.8%) at US gas stations, 1.5x (~2.4%) on other purchases! Better than any other single credit card and even better than most 2 cards combo! (see Which Credit Card Should I Pick If I Only Want One Card for detailed information) If you really care about this and make sure 30 or more transaction requirement can be satisfied every month, and you like to pile up MR points, this credit card is definitely worth keeping! If you can’t make 30 or more transactions in every month, then the best grocery credit card should not be this card, it should be AmEx Blue Cash Preferred (BCP) or Sallie Mae (SM) (see Best Rewards Credit Cards For Grocery for detailed comparison).

There’s a more premium way to use this credit card: find Gift Cards for the stores that you visit frequently (such as Shell, Amazon, etc) or Visa Gift Cards in supermarkets, use your AmEx EveryDay Preferred to buy them and you can get up to 4.5x MR (up to $6000 per year, after that 1.5x MR)! The price of store Gift Cards is usually equivalent to its nominal value; and the price of Visa Gift Cards is usually its nominal value + $5.95, so you’d better buy the ones with the largest nominal value which is $500. So if you use the card this way, its pretty much everything 5%~6% in return! So the monthly spending mentioned in the summary part should include these gift card spendings.

Here I recommend a way to meet the spending times requirement quickly, in case you can’t meet the requirement in time: Amazon Gift Card Reload. The minimum amount $0.50 each time.

Related Credit Cards

Recommended Downgrade Options

After Applying

  • Click here to check AmEx application status.
  • AmEx reconsideration backdoor number: 877-399-3083. The “real” backdoor number of Amex is well protected. Different from Chase, the representatives from this AmEx reconsideration backdoor number only have the right to help you submit requests.

Historical Offers Chart

Application Link


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