American Express announced last week the introduction of the EveryDay Credit Card, which rewards cardholders for how often they use the card instead of how much they spend.
Available by April 2, the card carries no annual fees, and if used 20 times or more in a single billing period, members earn 20 percent extra rewards points on all purchases. The card comes with smart chip technology and a zero percent introductory rate on purchases and balance transfers for the first 15 months.
“Our goal is to be a more inclusive and welcoming brand by building new products for different lifestyles and spending needs, backed by the service and quality that has made American Express so successful,” Josh Silverman, the president of consumer products and services at AmEx, said. “The average American uses their credit or debit card twice a day, and shops most within 20 minutes of their home. So we designed a card that doesn’t require you to change your daily ritual—but rewards you for where you already shop.”
A digital counter in the AmEx Mobile app helps cardholders track qualifying purchases for the points bonus. Points can be redeemed for a variety of rewards, including gift cards and merchandise, Amazon.com and Ticketmaster purchases and travel, as well as for miles in frequent flyer programs through 17 different airlines.