Up to 80,000 Membership Rewards Points with the American Express Essential® Rewards Credit Card

The American Express Essential Rewards Card is offering up to 80,000 Bonus Membership Rewards Points to new American Express Card Members who apply by 15 October 2024, are approved and spend $1,000 or more on eligible purchases in each 30-day period for the first 120 days.

The bonus is split into four parts. New Card Members will receive 20,000 Membership Reward Bonus points after spending $1,000 on each 30-day period for the first four months.

Benefits of the American Express Essential Rewards Credit Card

The American Express Essential Rewards Credit Card is a refreshed new offering that will appeal to many people. The Card rewards you with an elevated points earning rate when spending on many popular spending categories. And for just a $9 monthly fee, the Card offers rewards in excess of many offered at this low-to-middle segment of the credit card market for a low fee.

The Card also offers many American Express direct benefits, such as MyAmexShop & Offers and Amex Experiences, so make sure to click the links and read about these benefits further.

Card Details

Earning Membership Rewards Points

It’s great to see another American Express Card, in addition to The American Express Platinum Edge Card, that offers bonus points on popular spending categories.

The following Membership Rewards Points can be earned per dollar spent on purchases:

Earn up to 5 points on your first 10,000 points per month, and then continue earning 1 point per $1 spent after that

• 5 points per $1 spent on eligible eats & drinks purchases in Australia
• 3 points per $1 spent on selected streaming subscriptions in Australia
• 2 points per $1 spent at selected major retailers in Australia
• 1 point per $1 spent on everything else

You can boost your points balance by adding up to 4 Additional Cards to your Account for family or friends at no extra charge.

Using Membership Rewards Points

You can use your Membership Rewards Points in a number of different ways. From redeeming gift cards with a number of different retailers to paying for eligible charges on your Account. But the best use of your Points in terms of maximising value is still by transferring your Points to one of 11 Airline Partner Programs.

These airline programs include Velocity Frequent Flyer, Singapore Airlines KrisFlyer, Cathay Asia Miles and Qatar Airways Privilege Club.

Included Insurances

The Card comes with a number of insurance covers. These include the following:

Card Purchase Cover

When you make a purchase on your American Express Essential Rewards Card, you can be reimbursed for up to 90 days from the date of purchase if the eligible item is stolen or accidentally damaged.

Card Refund Cover

Card Refund Cover can help if you’re having trouble getting a refund for an eligible item purchased within 90 days on your eligible American Express Essential Rewards Card.

Buyer’s Advantage Cover

If your warranty has run out just as you need it, Buyer’s Advantage Cover may have you covered. With the American Express Essential Rewards Card, you could enjoy an extended manufacturer’s warranty of up to 12 months for eligible purchases made on your Card.

You can read the terms and conditions for the insurance benefits of the Essential Rewards Card here.

This guide references some of the benefits of insurance policies provided with this card. You should read the PDS and obtain independent professional advice before obtaining this product.

American Express Plan It

American Express launched ‘Plan It’ in mid-2020, which allows cardholders to create instalment plans that allow for equal payments to be distributed over a 3, 6 or 12-month payment period. There is a monthly fixed fee to access this feature, with up to 10 Plan It plans with a minimum of $150 balance able to be created.

Mobile wallet integration

American Express cards support Apple Pay, Google Pay and Samsung Pay, meaning you can use this card on your smartphone for easier payments.

Read the Point Hacks guide to using Apple Pay or for using Google Pay and Samsung Pay, including instructions on how to add your American Express card to those services.

With this feature set up, it means you could still use your NFC-enabled phone to make purchases with your American Express account, even if your physical card is lost or stolen and pending replacement.

Considering this card for Business-related transactions?

American Express offers a range of both Business and Consumer Charge and Credit Cards. They permit business transactions to be made on personal cards, unlike some other banks, but you might find some of the other business-focused benefits of the business cards to be appealing or more appropriate.

Here’s a full list of business and personal consumer American Express Cards that may be suitable for earning points from business-related transactions.

Eligibility criteria for bonus points for existing American Express Card Members

American Express is quite specific about whether existing Card Members will be eligible for bonus points if they apply for a card, are approved, and meet the minimum spend criteria.

Card Members who currently hold or who have previously held any other Card product issued by American Express Australia Limited in the past 18 month period are ineligible for this offer excluding David Jones American Express Card Members, who are eligible for this offer.

American Express doesn’t allow existing Card Members, even for different types of American Express cards (e.g. Charge, Credit or Business) to be eligible for bonus points offers for cards in a different family.

Summing Up

The new American Express Essential Rewards Credit Card is a welcome development. It really punches above its weight for the introductory segment of the credit market, offering a competitive earning rate usually reserved for mid—or even premium-tier cards.

Also included are Amex direct benefits such as MyAmexShop & Offers and Amex Experiences, which sweeten the Card’s appeal.

Overall, this Card can be a great low-cost introduction to American Express, but as always, make sure to read the Product’s PDS, and if you still have questions, speak to your accountant or a finance professional to ensure that this Card is suitable for you.