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American Express Essential Credit Card

American Express Essential Credit Card

Enjoy a low 8.99% interest rate on purchases

Annual Fee Interest Rate Balance Transfer Cash Advance Credit Score Good: -- I've had a credit card, or loan for 6+ years. I've had good credit for the last 7 years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). I haven't opened a new credit card account, loan, or line of credit in the last nine months. I've made the minimum payments on my existing credit cards for the past three months. Rewards Are all rewards created equal? From points, to miles, to cash back – how do you know how much you’re really getting? To help you find the best rewards card, we’ve created the Your Reward Return, an estimate on the dollar value of your rewards based on your monthly spend so that you can compare like for like. Now that’s wise thinking!
$0.00 8.99% 8.99% *1.99% interest in first 6 months 8.99% Good -
  • Card Details Details
  • Our Review Review

Card Details


  • Enjoy a low 8.99% interest rate on purchases

  • Optional Balance Transfer Offer - Enjoy a 1.99% interest in first 6 months of Cardmembership if you choose to transfer your other credit card balances to this American Express card*

  • Balance Transfer option is only available at time of online application. There is no balance transfer fee at time of application*

  • Access to memorable experiences with American Express Invites™

  • Shopping coverage and 24/7 Customer Service

  • Have the flexibility to pay your balance in full or over time

  • 2.5% foreign transaction fee


* American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details, current product information and Terms and Conditions, click the Apply now link. Conditions apply

Features and Benefits

  • Purchase protection and extended warranty
  • Travel accident insurance

RateSupermarket.ca's Review

With no annual fee and an exceptionally low interest rate*, the American Express Essential™ Credit Card is an eye-catching option to anyone who is looking for a manageable way to build credit, without having to pay off the entire balance every month. A 1.99% rate on balance transfers is available for the first six months of membership**, so if high-interest debt is plaguing you on your existing credit card, switching to this one could give you some breathing space. The flip side of such a low-interest card, however, is that you don't earn points or cash-back when making purchases with it. Still, taking into account the added perks you get from being an AMEX cardholder, from exclusive offers to an impressive suite of insurance, this credit card could be a welcome addition to your wallet.

Pros

  • No annual fee.
  • Low interest rate of 8.99% on purchases and cash advances.*
  • If you choose to transfer other credit card balances to this card, you only pay 0% interest for the first six months.**
  • No annual fee for any additional cards.1
  • The low interest rate allows you to pay this card off over time, without accruing a large amount of compounding interest into your unpaid balance.
  • As an American Express cardholder, you can enjoy advanced ticket sales, exclusive access to special offers, and other unique experiences through the American Express Invites program.6
  • Eligible items purchased on this card are covered under American Express' Buyer's Assurance Protection Plan. This plan doubles the manufacturer's original warranty up to one additional year!
  • When using this card, your purchases are automatically covered by a Purchase Protection Plan, which insures them against theft and accidental damage.3+4+5+
  • Up to $100,000 in Travel Accident Insurance.5+ This coverage will protect you, your spouse and dependent children whenever you use the card to buy plane, train, bus or boat tickets. This travel insurance also applies to additional cardholders.
  • You won't be held responsible for fraudulent charges on your card thanks to the Fraud Protection Guarantee.7
  • Emergency Card Replacement means if your card gets lost or stolen when travelling, American Express will send a replacement card to you as soon as possible.
  • 24/7 customer care from the American Express support team.

Cons

  • No rewards program to earn points or cash-back.
  • If you miss a minimum payment, your interest rates shoot up to 23.99% for purchases, and 26.99% for cash advances.
  • The promotional balance transfer rate of 1.99% is only available at time of application. After six months, it will increase to 8.99%.

Rate, product information and rewards estimate are subject to change at any time and does not constitute financial advice. Please contact supplier for complete details

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