American Express Essential Credit Card

The American Express Essential Credit Card boasts one of the lowest purchase interest rates on the market. With no annual fee, it offers a 12.99% interest rate on both purchases and cash advances—a rare combination among credit cards. While it doesn’t offer rewards, this card is ideal if you tend to carry a balance, as it will help you save on interest. Additionally, it includes limited insurance coverage and a variety of AMEX Experiences perks, making it a practical choice for those seeking low interest rates and exclusive benefits.

Card Summary:

This credit card has no annual fee and no supplementary card fee. It offers a low 12.99% interest rate on both purchases and cash advances, making it an affordable option for managing your finances.

Rewards Summary:

• N/A

Benefits Summary:

This credit card offers a range of exclusive benefits through American Express Experiences. Enjoy Front of the Line presales and reserved tickets for concerts, shows, and events. Enhance your lifestyle with AMEX Experiences in entertainment, dining, retail, and wellness. Additional features include robust fraud protection, emergency card replacement, and AMEX SafeKey for secure online transactions. Plus, take advantage of exclusive offers tailored to your interests.

Coverage Summary:

• Travel Accident Coverage.
• Purchase protection plan.
• Buyer’s Assurance protection plan where your coverage can automatically extend the manufacture’s original warranty for an additional year.

Editor’s Review

American Express Essential Credit Card Review

The American Express Essential Credit Card is an attractive option for those seeking a low-interest credit card without an annual fee. With its 12.99% interest rate on both purchases and cash advances, it stands out for its affordability and practical benefits, even without a rewards program. The card also offers exclusive AMEX Experiences and limited insurance coverage, making it a versatile choice for budget-conscious individuals.

Card Summary:

• Annual Fee: None
• Supplementary Card Fee: None
• Interest Rates: 12.99% (purchases and cash advances)
• Income Requirement: Not specified

Rewards Program:

• None

Benefits:

• AMEX Experiences: Access to exclusive events, presales, and reserved tickets for concerts, shows, and more
• Fraud Protection: Robust measures to protect against unauthorized transactions
• Emergency Card Replacement: Quick replacement if your card is lost or stolen
• AMEX SafeKey: Secure online transactions
• Exclusive Offers: Tailored to your interests in entertainment, dining, retail, and wellness

Insurance Coverage:

• Travel Accident Coverage: Protection during travel
• Purchase Protection Plan: Coverage against theft or damage for purchases
• Buyer’s Assurance Protection Plan: Extends the manufacturer’s original warranty for an additional year

Pros and Cons

Pros:

• No annual fee
• Low 12.99% interest rate on both purchases and cash advances
• Access to exclusive AMEX Experiences and offers
• Basic travel and purchase protection included
• Robust fraud protection and emergency card replacement

Cons:

• No rewards program
• Limited insurance coverage compared to premium cards
• American Express may not be accepted everywhere

Who is this card for?

This card is ideal for individuals who:

• Frequently carry a balance and want to minimize interest payments
• Prefer a no-annual-fee credit card
• Value access to exclusive events and offers through AMEX Experiences
• Seek basic travel and purchase protection benefits

Comparison with Similar Cards

Final Verdict

The American Express Essential Credit Card is a practical and cost-effective choice for those who prioritize low interest rates and no annual fees over rewards programs. With its competitive 12.99% interest rate on both purchases and cash advances, alongside exclusive AMEX Experiences and basic insurance coverage, it provides significant value for budget-conscious consumers. While it lacks a rewards program, its other benefits make it a versatile and appealing option for those looking to save on interest while enjoying exclusive perks.

View other AMEX credit cards.

View other $0 annual fee credit cards.

View other Low Interest credit cards.

Disclaimer: Refer to the credit card official web page for the latest up to date rates, terms, and conditions. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute professional and/or financial advice.