American Express Essential Rewards Credit Card

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Terms and conditions apply

Bonus points: 40,000
Purchase rate: 23.99% p.a.
Reward point per $ spent: 1
Annual fee: $108 p.a.

Our verdict

Get 40,000 Bonus Membership Rewards Points and complimentary smartphone screen insurance, with a $9 monthly fee.

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The American Express Essential Rewards Credit Card lets you earn 5 Membership Rewards points per $1 on eligible spending, depending on what you use the card for. Right now, you’ll receive 40,000 Bonus Membership Rewards Points when you apply online as a new Amex card member by 27 January 2026, are approved and spend at least $3,000 on eligible purchases within the first 3 months from card approval (terms and conditions apply). If you earned the full 40,000 bonus points, you could redeem them for $200 worth of shopping at Myer or convert them into 20,000 Velocity Points.

Its other perks include complimentary Card Protection Cover and smartphone screen insurance (terms and conditions apply) and access to exclusive offers from American Express Experiences. This card charges a $9 monthly fee, which adds up to $108 over a year. This is still considered low compared to other rewards credit cards that charge annual fees in Australia.

Pros

40,000 Bonus Membership Rewards Points
Up to 5 points per $1 spent on eligible purchases
Transfer your points to over 10 major airline, hotel and retail partners

Cons

3% foreign currency conversion fee
No complimentary travel insurance

Must read: Upcoming change

From 15 December 2025, Amex will adjust Membership Rewards transfer rates to select airline partners and update the program’s terms and conditions.

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Finder Verifies that The American Express Essential® Rewards Credit Card is Australia’s most rewarding card for eats and drinks*

Methodology

Based on the Finder Consumer Sentiment Tracker average spend on ‘eats and drinks’ per week. “Eats and Drinks” is defined as spend at restaurants, cafés, fast-food locations, bars/pubs and major food delivery brands; Menulog and UberEats. This does not include supermarket spend. Finder’s Consumer Sentiment Tracker is a live, nationally represented study of the Australian public. Finder has analysed 95 cards affiliated with a rewards program and converted the points earned based on the average spend each month, into a dollar value, by redeeming the points earned for a $100 grocery store card. Excludes ongoing fees. Verification as of 1 July 2024.

Details

Product details

Product Name	American Express Essential Rewards Credit Card
Purchase rate p.a.	Purchase rate p.a.23.99%
Interest-free days	Up to 55 days on purchases
Min credit limit	$2,000
Card type	American Express

Rewards

Rewards program	American Express Membership Rewards / Velocity Frequent Flyer
Bonus points	40,000
Rewards points per $ spent	1

Fees

Annual fee	$108
Minimum monthly repayment	2.5% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3%
Additional cardholder fee	$0
Number of additional cardholders	4

How to apply

If you've checked out a few credit cards and want to get the Amex Essential Rewards, you can apply online in around 10 minutes and may get a response within 60 seconds of completing the application. Get started by making sure you meet the eligibility criteria and that you have all the documents and details needed for the application.

Eligibility criteria

New Amex card member. To take advantage of the bonus points offer, you must not currently hold or have held an American Express credit card in the last 18 months.
Residence. You must be an Australian citizen, a permanent resident or hold a current long-term visa (12 months or more). Student visas are not eligible.

Credit history. You must have a good credit history and no payment defaults. If you don't know your credit score or what's on your file, you can get a free copy of your credit report through Finder .
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, email address, date of birth, driver's license number, marital status, number of dependents and contact number.
Employment details. This covers your current job title and your employer's contact information. You may also need to provide recent payslips, your latest tax return or your accountant's information.
Financial information. You'll need to share details of any other assets, such as savings or shares. You'll also need to provide estimates of your essential expenses – such as rent, mortgage payments, groceries and utility bills – as well as any other loans or lines of credit.

Go to American Express' site More info

Card benefits*

40,000 bonus points. Earn 40,000 Bonus Membership Rewards Points when you apply online for a new American Express Essential Rewards Credit Card online as a new Amex card member by 27 January 2026, get approved and spend $3,000 on eligible purchases within the first 3 months from card approval (terms and conditions apply). The bonus points will be credited to your account within 8-10 weeks of meeting the spend requirement.
Membership Rewards Points. This card has an accelerated earn rate. You will earn 5 Membership Rewards points per $1 on eligible spending at restaurants and food delivery services up to 10,000 points per month, then 1 point per $1 spent thereafter. You'll also earn 3 points per $1 on selected streaming subscriptions, 2 points per $1 at selected in-store and online major retailers, and 1 point per $1 on everywhere else. Points can be redeemed for gift cards, Cover Charges with Points and more through the Membership Rewards program. You can also transfer your points to over 10 major airline, hotel and retail partners, including Velocity Frequent Flyer and Singapore Airlines Krisflyer.

Complimentary Retail Insurance coverages. Use the American Express Essential Rewards Card to pay for eligible purchases and get access to Card Purchase Cover, Card Refund Cover and Buyer's Advantage cover (for extended manufacturer's warranty of up to 12 months for eligible purchases made on your card). Terms, conditions and exclusions apply.
Smartphone screen insurance. If you use your Essential Rewards card to pay for your phone (outright or on contract), you can get cover for smartphone screen repairs of up to $500. A 10% excess applies per claim with a maximum of two claims per 12-month period. Waiting periods, terms, conditions and exclusions apply.
Plan It Instalments. American Express gives you a way to pay off eligible credit card transactions over $100 (or your unpaid balance) in equal monthly instalments, with a 0% interest and a fixed monthly payment fee.
Amex perks. Enjoy exclusive shopping deals and benefits through Amex Offers, plus pre-sale events and ticket promotions through American Express Experiences.
Mobile payment compatibility. You can conveniently tap and pay with your smartphone when you add this card to your Apple Pay , Google Pay or Samsung Pay account.

Rates & fees

Monthly fee. The Amex Essential Rewards Credit Card charges a monthly fee of $9, which adds up to a total of $108 per year.
Interest rate. This card has an ongoing purchase rate of 23.99% p.a. Note that you cannot make cash advance transactions with the Amex Essential Rewards Card.

Up to 55 interest-free days . Get up to 55 interest-free days on purchases if you pay your balance in full by the due date on each statement.
Foreign currency conversion fee. If you use this card overseas or make online payments in a foreign currency, you'll pay a fee worth 3% of the total transaction amount.
Additional cards. You can request up to 4 additional card members at no extra cost.

Go to American Express' site More info

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.

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Richard Finder

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Andrew

March 13, 2025

When purchasing airline tickets and travel, does the Amex Essentials credit card only earn the standard 1 point per 1 dollar; or is this an eligible boosted spend category?

Richard Whitten Finder

March 13, 2025

Hi Andrew,

I looked at the fine print on eligible retailers, and there are no airlines mentioned. So it looks like you’ll just earn 1 point per dollar.

You can see more details about the points here.

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Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University. See full profile

American Express Essential Rewards Credit Card

Pros

Cons

Must read: Upcoming change

Methodology

How to apply

Eligibility criteria

Required documents

Card benefits*

Rates & fees

Sources

Sources

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