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American Express

American Express Essential Credit Card

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American Express
Medium essential

Good For

Rewards Low Fees Balance Transfer Offers Special Offers Perks Overseas Spending Frequent Flyer Rewards Max Interest Free Days No Annual Fee

  • Type: American Express
  • Level: Standard

All Offers

Balance Transfers Offers 0% for 12 months then 14.99%
1% handling fee
Introductory Offers N/A
Special Offers Receive a $50 credit when you apply online, are approved and spend $750 within the first 3 months. Available to new card members & Bank-issued companion cardholders

(until further notice)

Rates & Fees

Ongoing Purchase Interest Rate 14.99%
Annual Fee $0
Maximum free days Up to 55
Late Payment Fee $30
Over Limit Fee $15

Overseas Spending

Currency Conversion Fee 3%
Overseas ATM Charges N/A
Estimated ATM Cost for AU$300 withdrawal $9.00

Frequent Flyer Rewards

Points per $1 spent 0
Partners
Annual Flights Earned Inf SYD-MEL return flights ($0 in annual fees)

Rewards

Points per $1 spent 1
Rewards Available Frequent Flyer, Shopping, Cash & more
Value of Rewards $719.86 after $0 annual fees
Additional Fee for Reward Card $0

Perks

Travel Insurance N/A
VIP Perks
  • Extended warranty
  • Invitation to special Events
  • Partner purchase discounts

Repayment Details

$ Minimum Repayment $30
% Minimum Repayment 2.5%

Application Requirements

Minimum Credit Limit $2,000
Maximum Credit Limit $25,000

The American Express Essential Credit Card is the latest offering on the market from American Express that has all the trappings expected from Amex without the cost.

The card boasts a $0 annual fee and interest rate of 14.99% making it a popular choice for the everyday credit card user who wants to earn points without paying high fees.

With a minimum gross income of $40,000 required to apply and the minimum credit limit set at $2,000 the American Express Essential Credit Card has burst on to the market as a widely popular and accessible rewards card.

Fees for American Express Essential Credit Card

The American Express Essential Credit Card has a $0 annual fee which is a welcome change for a card offering so much in the way of rewards points.

There is a $30 late payment fee that will be charged if you pay your balance after the 55 interest free period and the over limit fee is $15.

Features of American Express Essential Credit Card

The American Express Essential Credit Card comes with some attractive features and considering it has no annual fee there is a lot of bang for your buck. These features include:

  • For new sign-ups the card offers a $50 credit when you apply online and spend $750 on your card within the first 3 months
  • For every $1 spent on the card you can earn up to 1 Membership Rewards point
  • These points can be transferred to be used on one of 8 airline rewards partner programs
  • If you purchase a smartphone or pay for your contract with your American Express Essential Credit Card you will eligible for Smartphone Screen Insurance up to $500 
  • 0% balance transfer offer available for the first 12 months
  • Purchase rate of 14.99%

Travel with American Express Essential Credit Card

The currency conversion fee for payment with the American Express Essential Credit Card is 3% of the total. There is no set fee for ATM charges but the estimated cost to withdraw $300 is $9.00.

Travel insurance is not included with this card but there is a 48 hour emergency card replacement service available almost everywhere in the world.

Other things to note

Even though the American Express Essential Credit Card is the entry level card for those who want to access the perks of an Amex card it seems no perks have been spared.

Cardholders will be part of the Amex Offers program where discounts are offered on a range of top brands as well as the American Express Invites program which offers pre-sale and exclusive tickets to music, theatre and film events.

The card is also eligible for use with Apple pay and has the option of supplementary cards being added to the account for free.

Monthly bills will come with the option of using points earned to pay in conjunction with cash using the Select + Pay with points option.

More about American Express

American Express offers a wide range of competitive credit card options for everyday personal and business spending. All their credit cards include perks and reward benefits for users. More merchants than ever before are choosing to accept American Express in Australia, allowing users to build up reward points fast. For travellers, a frequent flyer card means they can earn Qantas or Velocity Points on every day purchases and other benefits, such as travel insurance. Big spenders can treat themselves with a Platinum Card, allowing for accelerated rates on reward point categories. No matter what type of spender you are, American Express has a card just for you.

Compare and discover the lowest fees on credit cards.