American Express has introduced the Amex EveryDay Credit Card, a no fee rewards credit card redefining the Amex brand. The card was announced on Sunday’s Oscar broadcast with an ad campaign featuring Tina Fey using her Amex card for everyday things (at the drugstore, food truck, dry cleaner, grocery checkout). Like Tina Fey’s activities suggest, this new card is targeted towards the everyday spenders, or according to the New York Times, the “multitasking, carpool-driving, Starbucks-hopping, grocery-shopping mom.”
Traditionally, American Express is known for its upscale exclusivity with cards that offer high annual fees and great rewards for big spenders or jet-setters. The EveryDay Card, on the other hand, is an attempt to redefine the Amex brand down by appealing to the everyday multitasking consumer. This card has no annual fee, a 0% intro APR on purchases and balance transfers for the first 15 months, and will allow users to carry a balance from one month to the next instead of having to pay it off in full. In addition, cardholders have access to Amex’s Membership Rewards loyalty program where they earn 1 reward point per dollar charged and double points for up to $6000 in US supermarket purchases. And with the EveryDay card, users will get 20% bonus reward points after making 20 or more purchases, no matter how small, in a single billing cycle. This program rewards consumers for frequency of use and not just the amount spent.
Josh Silverman, Amex’s president of consumer products and services, acknowledged the new credit card as a strategic move towards “becoming a more inclusive brand, a more welcoming brand to a broader range of American consumers, all the way from prepay to premium.”
Source: New York Times
