Benefits of the American Express® EveryDay® Credit Card

• 1. Enhanced Rewards on Everyday Spending:
  • Earn 3 points per dollar at U.S. supermarkets (up to $6,000 per year), offering a potential 6% return assuming 2 cents per point value.
  • Earn 2 points per dollar at U.S. gas stations and on AmexTravel.com purchases, yielding about 4% value for frequent drivers and travelers.
  • Earn 1 point per dollar on all other purchases, ensuring steady rewards on every transaction.
• 2. 50% Bonus Points Incentive:
  • Receive a 50% bonus on points earned during billing periods with 30 or more purchases, significantly increasing total rewards potential.
  • This increases returns to 4.5 points per dollar at supermarkets (9% value), 3 points per dollar at gas stations and travel (6% value), and 1.5 points per dollar on other purchases (3% value).

How to Apply for the American Express® EveryDay® Credit Card

• Pre-Qualification Check:
  • Use the American Express Pre-Qualification Tool to check eligibility without affecting your credit score.
  • Input basic details such as name, income, and SSN or ITIN.
  • Prequalification doesn’t guarantee approval but helps identify if you meet basic requirements.
• Visit the American Express Website:
  • Navigate to www.americanexpress.com and locate the EveryDay® Preferred Credit Card page (when available).
  • Compare benefits and terms with other Amex cards like the Amex EveryDay® Credit Card or Blue Cash Preferred® Card.
• Initiate the Application Process:
  • Click the “Apply Now” button to access the application form (when the card was available).
  • The form opens in a new window and requires personal and financial information.
• Complete the Application Form:
  • Provide personal info: Full name, DOB, SSN/ITIN, contact details.
  • Include your residential and permanent address (if different).
  • Enter financial details: income, employment status, and housing expenses.
  • You may also provide bank account info and add authorized users.
• Submit Supporting Documents (If Requested):
  • American Express may request proof of income, address, or identity.
  • Upload documents digitally or mail them based on Amex instructions.
• Application Review and Decision:
  • Most applications are reviewed within 15 days; denials can take up to 90 days.
  • Review factors include your credit score, income, debt-to-income ratio, and payment history.
  • You’ll receive a response by email or mail.
• Post-Approval Steps:
  • Approved cards are delivered within 7–10 business days.
  • Activate your card via the Amex website, mobile app, or customer service line.
  • Enroll in Amex Offers and set up auto-pay to maintain your account responsibly.
• Tips for a Successful Application:
  • Maintain a FICO score of 670 or above (700+ preferred).
  • Lower your credit utilization and debt-to-income ratio before applying.
  • Ensure all application data is accurate and consistent.
  • Limit Amex applications to comply with 1-in-5 and 2-in-90 rules.
  • Be mindful of the “once-in-a-lifetime” welcome bonus eligibility rule.
• Common Reasons for Rejection:
  • Low credit score or limited credit history.
  • Too many recent credit inquiries or Amex applications.
  • High existing debt or errors in application data.
• Application for Non-U.S. Residents:
  • Non-U.S. residents with a U.S. address and valid SSN/ITIN could apply (when available).
  • Same credit, income, and documentation standards applied.
• Understand Historical Context:
  • The EveryDay® Preferred Card was previously available to new applicants but has since been discontinued.
  • Existing cardholders can still manage their accounts, while new applicants can consider similar cards like the Blue Cash Preferred® or Amex EveryDay® Credit Card.

Eligibility Criteria for the American Express® EveryDay® Credit Card

• Age Requirement: Applicants must be at least 18 years old to qualify for the Amex EveryDay® Preferred Credit Card, aligning with standard U.S. credit card regulations. This ensures legal capacity to enter a credit agreement.
• Credit Score Requirements: A good to excellent credit score (typically 670 or higher on the FICO® Score 8 scale) is required. American Express targets consumers with established credit histories, as the card offers significant rewards and benefits. Some reports suggest approvals with scores as low as 630, but these are exceptions and depend on other factors like income.
• Income and Employment Status: While Amex does not publish a specific income threshold for the EveryDay® Preferred Card, applicants generally need sufficient income to cover monthly expenses and demonstrate repayment ability. A minimum annual income of $40,000–$50,000 is often cited in forums as a benchmark for approval, though higher incomes improve chances for a higher credit limit. While employment is not strictly required, applicants must demonstrate a stable income source (e.g., employment, self-employment, investments, or retirement funds). Self-employed individuals may face additional scrutiny to verify income consistency.
• Residency and Identification: Applicants must be U.S. residents with a valid U.S. residential address. Non-residents with a U.S. address and SSN/ITIN may qualify, but they must provide U.S.-based financial documentation. A valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) is required to verify identity and credit history.
• Credit History and Financial Behavior: A good credit history with no recent payment defaults, bankruptcies, or significant derogatory marks is essential. Amex reviews credit reports from major bureaus (Experian, Equifax, TransUnion) to assess payment history, credit utilization, and account age. The length of credit history and number of open accounts can also influence approval odds.
• Debt-to-Income Ratio: Amex considers the applicant’s debt-to-income (DTI) ratio, which compares monthly debt payments to income. A DTI below 36% is generally preferred, though Amex may approve higher ratios if other factors (e.g., high income, excellent credit) are strong. Paying down existing debts before applying can enhance eligibility.
• Existing Relationship with American Express: Applicants who already have a relationship with American Express may benefit from prior account history. However, recent denials for Amex cards can impact approval. It is advisable to wait at least 90 days after a denial before reapplying.
• Application Restrictions: American Express enforces several rules for new applications:
  • Once-per-Lifetime Rule: Welcome bonus is available only once per card per lifetime.
  • 1-in-5 Rule: Only one credit card approval allowed every 5 days.
  • 2-in-90 Rule: No more than two approvals within a 90-day period.
  • Five-Card Rule: Applicants cannot have more than five American Express credit cards open at once.
• Additional Considerations: Factors such as the number of recent inquiries and overall credit profile matter. Too many hard inquiries in a short period or too many open credit accounts may reduce the chances of approval.
• Strategies to Meet Criteria:
  • Improve Credit Score: Pay bills on time, lower credit utilization, and fix any credit report errors.
  • Increase Income Documentation: Include all sources of income, such as side gigs or investment returns.
  • Check Prequalification: Use Amex’s prequalification tool to check eligibility without a hard credit pull.
• Note for New Applicants: Since the Amex EveryDay® Preferred Credit Card is no longer actively available to new applicants, consider alternatives like the Amex EveryDay® Credit Card or Blue Cash Everyday® Card, which share similar eligibility requirements but have different rewards structures.