In this guide

  • Our verdict
  • Details
    • Product details
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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American Express Essential Rewards Credit Card

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American Express Essential Rewards Credit Card
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Terms and conditions apply
Bonus points
80,000
Purchase rate
23.99% p.a.
Reward point per $ spent
1
Annual fee
$108 p.a.

Our verdict

Offers up to 80,000 bonus Membership Rewards Points, but you’ll have to spend $1,000 in each 30-day period for the first 120 days to get them all.

The American Express Essential Rewards Credit Card lets you earn up to 5 Membership Rewards points per $1 on eligible spending, depending on what you use the card for. Right now, you’ll also receive 20,000 bonus Membership Rewards Points when you apply by 23 July 2024 and spend $1,000 or more on eligible purchases in each 30-day period, up to a maximum total of 80,000 points within the first 120 days. If you earned the full 80,000 bonus points on offer, you could redeem $400 worth of shopping at Myer, or 40,000 Velocity Points.

Pros

  • Up to 80,000 bonus Membership Rewards points
  • Up to 5 points per $1 spent on eligible purchases
  • Point transfers to 11 airline rewards partner programs
  • Complimentary smartphone screen insurance cover and purchase insurance cover

Cons

  • 3% foreign currency conversion fee
  • No complimentary travel insurance

In this guide

  • Our verdict
  • Details
    • Product details
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

The American Express Essential Rewards Credit Card lets you earn 5 Membership Rewards points per $1 spent at restaurants and eligible food delivery services, 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 everywhere else. It also offers up to 55 days interest-free on new purchases when you pay the balance in full by the due date on each statement. Otherwise, a purchase interest rate of 23.99% p.a. applies.


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.
23.99%
Interest-free period
Up to 55 days on purchases
Min credit limit $2,000
Card type American Express

Rewards

Rewards program Membership Rewards
Bonus points 80,000
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

  • Bonus points offer. 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.
  • Residency. 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.

Card benefits

  • 80,000 bonus Membership Rewards Points. Apply for a new American Express Essential Rewards Credit Card by 23 July 2024 and you'll earn 20,000 bonus Membership Rewards Points for each 30-day period when you spend at least $1,000 on eligible purchases, up to a maximum total of 80,000 points in the first 120 days from card approval. The bonus points will be credited to your account within 8 to 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 points to 11 airline partner programs including Velocity Frequent Flyer and Singapore Airlines Krisflyer.

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.

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