The Best No Annual Fee Points Transfer Card is Now Also a Great 0% Balance Transfer Card

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Amex Everyday

The Amex Everyday Card is one of the best no annual fee value propositions out there. It’s the only no annual fee personal card whose points transfer 1:1 into airlines and hotel programs, because it earns ‘real’ transferable Membership Rewards points.

For a no annual fee card it also,

  • Offers a signup bonus. 10,000 Membership Reward points after $1,000 in purchases on the card within the first 3 months.

  • Has spending bonuses.

    1. If you make 20 or more purchases on it during a billing period you get a 20% bonus on points earned from your net spend (ie less returns and credits) during that period.

    2. Double points at US supermarkets (up to $6,000 per year in purchases, then one point per dollar). It earns 1 point on other purchases. The 20% bonus even applies to 2x US supermarket spend.


From the Amex Everyday Launch Party in 2014

What’s just been added is a $0 balance transfer fee on balance transfers requested within 60 days from account opening and 0% balance transfers for 15 months on purchases and balance transfers (then a variable rate, currently 14.24% to 25.24%).

If you’re carrying a balance you should care more about interest charges than rewards. That’s why I suggest those folks look at Chase Slate, which has been the best card for balance transfers not just for a 0% promotional period but because it doesn’t tack on a fee for the transfer.

I’m shocked to see American Express doing this — first because it becomes the only strong rewards card with a great balance transfer like this, but second because it’s happening now in an environment where interest rates have risen (slightly) and are expected to continue to rise over the coming year.

I still think that if you’re carrying balances, don’t pay attention to signup bonuses or rewards. This game is not for you unless you pay off your balances in full each month and avoid spending more money as a result of carrying credit cards. Still the best no annual fee points transfer card has a separate use as a balance transfer card.

Amex Everyday

About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Editorial note: any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Comments made in response to this post are not provided or commissioned nor have they been reviewed, approved, or otherwise endorsed by any bank. It is not the responsibility of any advertiser to ensure that questions are answered, either. Terms and limitations apply to all offers.

Comments

  1. This will encourage applicants to build up debt and incur huge interest rates when due, which is what AmEx is counting on.
    BTW: Nice pic.

  2. Currently you can sign up for this card using incognito mode to get a 25k MR sign up bonus (article was on Doctor of Credit’s site 4 days ago). Gary doesn’t stand to make a referral on this, but feel like it should be mentioned all the same.

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