A couple of months ago, I opened 5 cards, one of which was the American Express Premier Gold Rewards. Since I don’t plan to keep it after year 1, I had to figure out a plan to keep Kristin’s points active once we do close the card. I knew I would be looking to open a fee-free card, since we already pay a yearly fee on my American Express Everyday Preferred, we have no need for another. Last week I gave you my top choices for fee-free credit cards. I figured I would open the American Express Everyday in about 6 months, but that’s when something awesome happened!
While looking at different headlines on Twitter, I came across this from Doctor of Credit:
Although, 25,000 points might not seem like a huge bonus, especially compared to the 50,000 points when you open the American Express Premier Reward Gold, the bonus for the Everyday credit card is usually 10,000 points. This is 2.5 times more and it is a no fee credit card! I value the sign up bonus around $425, which is a great amount for a card that has no fee!
Here is my review for the Everyday Preferred. It is the Everyday credit card that comes with an annual fee, but it gives a breakdown of the Membership Reward redemption options
One of the best things about this no fee credit card, you can transfer these points to one of their transfer partners:
There’s not another fee free credit card, that I can think of, that allows you to transfer your points to airlines or hotels. On top of being able to transfer your points, this card earns at a pretty solid rate:
- 2 Membership Reward points per dollar spent at US grocery store
- 1 Membership Reward point per dollar spent everywhere else
- After 20 transactions in a month, you’ll receive a 20% bonus on the points you earned
It had been about about 4 months since I last opened a card for Kristin, so I knew I should be good to go on this card. I open cards with a plan in mind and since the plan was to keep Kristin’s Membership Reward points after I close the Premier Reward Gold, this seemed like a good idea.
We are currently not working any bonus and our Everyday Preferred is our workhorse. Since this bonus is much higher than normal, I couldn’t let this one go. Kristin was instantly approved for this card and it is currently on it’s way.
I had to set my browser to incognito and after a few times of exiting and trying again, I finally got it:
Once I told Kristin what my plan was, she was on board. Opening this card is great option for us for a few reasons:
- Keeps Kristin’s points active for transfers
- The larger than normal bonus was a no brainer
- Easy spending requirement of $2,000 in 90 days
- Adds 2 more Amex Offers for us. Possibly my favorite perk of having American Express card
Even though I had no intention of opening a new card for a while, since we have more points than we can use right now (I’ve used up all our vacation time!), I had every intention of opening this card once the yearly fee came due on the Premier Reward Gold.
My hope is that in a year, American Express will give Kristin an option to upgrade to the Everyday Preferred with bonus points. If that were to happen, we might downgrade my card to the fee free Everyday. We’ll decide if that were to occur.
If you prefer cash back, there is an offer you should consider. At the same time I read this on Doctor of Credit, he posted about the Blue Cash having an increased bonus as well! The usual bonus is $100 statement credit, but currently it is $250 statement credit after spending $1,000 in the first 90 days. The bonus, just like the Everyday credit card, is 2.5 times the normal bonus! You might need to set your browser to incognito.
The Blue Cash earns:
- 3% at grocery stores
- 2% at gas stations
- 1% everywhere else
This was ranked my #4th best no fee credit card and has a good earning rate for a no fee credit card. It also will give you access to Amex Offers, which can lead to even more savings.
Both of these fee free cards have larger than normal sign up bonuses and if you are considering one of these, I would think to jump on them sooner rather than later.
Sometimes, offers like these come up and they are too good to pass up. If you are in the market for a no fee credit card and want either cash back or points, these are some of the best options out there. If you take into account the sign up bonus, these bonuses are worth a couple hundred dollars. If you include Amex Offers, these cards can save you more money.
Have you considered one of these cards? Are the bonuses high enough for you to apply for one of these?