American Express Essential Credit Card
Enjoy Membership Rewards points without an annual fee, plus complimentary smartphone screen insurance and access to Amex offers and experiences.
The American Express Essential is a no annual fee credit card designed to suit modest spenders, with a combination of money-saving features and complimentary extras. This card offers a low ongoing purchase rate and complimentary insurance covers.
14.99% p.a.
Purchase rate
1.25
Reward points
Per $ spent (American Express)
$0 p.a.
Annual fee
55 days
Interest free period
Details
| Product Name | American Express Essential Credit Card |
|---|---|
| Rewards program | Membership Rewards |
| Purchase rate (p.a.) | 14.99% p.a. |
| Annual fee | $0 p.a. |
| Interest free period | 55 days |
| Min credit limit | $2,000 |
| Max credit limit | $25,000 |
| Card type | American Express |
| Foreign currency conversion fee (American Express) | 3% |
| Complimentary travel insurance | No |
| Minimum Income | $40,000 |
|---|---|
| Minimum age | 18 years of age |
| Available to temporary residents | Yes - Conditions apply |
| Joint application | No |
Pros
- $0 annual fee
- Transfer points to a choice of 8 airline rewards partner programs
- Competitive purchase rate of 14.99% p.a.
- Smartphone screen insurance of up to $500 per claim and up to two claims per 12-month period will be covered.
Cons
- Charges a 3% transaction fee when used overseas or for making online payments in a foreign currency
| Rewards program | Membership Rewards |
|---|---|
| Rewards Points per $ spent (AMEX) | 1.25 |
| Rewards Points per $ Cap (American Express) | Uncapped |
| Annual fee | $0 p.a. |
|---|---|
| Minimum monthly repayment | 2.5% of the closing balance or $30, whichever is greater |
| Late payment fee | $30 |
| Foreign currency conversion fee (American Express) | 3% |
| Additional cardholder fee | $0 |
| Number of Additional Cardholders | 4 |
Expert review
Review by
Amy Bradney-George
amy.bradney-george@finder.comAmy Bradney-George is the acting editor for Finder X and a senior writer for credit cards and Finder Green. She has more than 13 years' experience as a journalist and writer, with bylines in publications including The Equity Magazine, The Sydney Morning Herald, ABC News and produce industry website FreshPlaza. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University, and when she’s not putting (virtual) pen to paper, she spends her time as an actress.
