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How Amex EveryDay Preferred beats the Premier Rewards Gold Card

by on Wed March 26, 2014 • 4 Comments
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Amex Everyday cards

Most Amex cards that offer Membership Rewards earn just one point per dollar on most purchases.

But the new EveryDay Preferred Card has changed that.

For an annual fee of $95 it earns:

  • Up to 4.5x points at supermarkets on the first $6,000 per year
  • Up to 3x at gas stations
  • Up to 1.5x on all other purchases

The catch is that you need to use the card for at least 30 transactions each month to earn the full bonus amounts, which isn’t hard as the transactions can be of any size and it can work out to just one per day.

If you don’t use the card at least 30 times per month you’ll earn still generous amounts:

  • 3x points at supermarkets on the first $6,000 per year
  • 2x at gas stations
  • 1x on all other purchases

So if you can earn up to 1.5x points on everything you buy with the EveryDay Preferred and get up to 3x on gas and 4.5x on groceries why would you consider paying more for cards like the Premier Rewards Gold?

The short answer is – unless you’re spending well over $500 a month on groceries or doing a lot of airfare spending every month the EveryDay Preferred comes out well ahead of the Premier Rewards Gold as long as you use it 30 times per month to get the higher bonus rates.

You can enter your own spending in our CardFinder tool for Membership Rewards cards and see how they stack up.

Here are some examples of how many points you can earn in a year based on monthly spending habits…

$2,000/month total, $500 groceries, $400 gas:

EveryDay Preferred: 61,200 points

Premier Rewards Gold: 34,800 points

$2,000/month total, $1,000 groceries, $400 gas

EveryDay Preferred: 61,200 points

Premier Rewards Gold: 40,800 points

$2,000/month total, $1,000 groceries, $500 airfare, $400 gas

EveryDay Preferred: 61,200 points

Premier Rewards Gold: 52,800 points

The EveryDay Preferred comes out far ahead in all of those examples.

Now let’s say you spend $2,500/month and get the 15,000 point bonus on the Premier Rewards Gold…

$2,500/month total, $500 groceries, $400 gas:

EveryDay Preferred: 70,200 points

Premier Rewards Gold: 55,800 points

$2,500/month total, $1.000 groceries, $400 gas:

EveryDay Preferred: 70,200 points

Premier Rewards Gold: 61,800 points

$2,500/month total: $1,000 groceries, $500 airfare, $400 gas:

EveryDay Preferred: 70,200 points

Premier Rewards Gold: 73,800 points

You can see the only case where the Premier Rewards Gold comes out ahead in these examples is when you have $500 in airfare spending and a lot of grocery spending beyond the cap on the EveryDay Preferred.

So chances are your best bet is to switch to the EveryDay Preferred and use it often if Membership Rewards points are your favorite. If you switch you won’t lose any of the points you’ve already earned and can use them in exactly the same way you have before.

One change you should be aware of is that the EveryDay Preferred is a credit card, while the Premier Rewards Gold is a charge card which you must pay off in full each month. But we don’t think you should be using any point credit card without paying the card in full each month regardless.

 

The following two tabs change content below.

Chase Sapphire Preferred® Card

Miles dont expireas long as card is open
Learn more

Partner Offer

50,000 bonus points

Intro Offer

$0 introductory annual fee, then $95

Annual Fee

$0

Foreign Transaction Fee Waived

Yes

Points Can Transfer to Airline Miles ?

Still confused? Have a question?

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"These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered."

4 thoughts on How Amex EveryDay Preferred beats the Premier Rewards Gold Card

  1. Mike

    Can you ‘Add a cardholder’ to help hit the 20+/30+ transactions bonus? Or would each card be tracked separately for that bonus?

    Reply
    1. MileCards

      @Bob- Don’t think they will let you do a straight swap in one move. The reason being the PRG and Green cards are ‘charge’ cards that you pay off in full each month. The EveryDay cards are ‘credit’ cards that can revolve balances each month. Because of that Amex considers them separate products that need a new credit check.

      Good news is they are happy to take the application and you should have no problem applying for EveryDay, then canceling the Green or PRG card separately.

      Reply

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