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Purchase rate: 18.99% p.a.
Reward points per $ spent: 1.25
Annual fee: $0 p.a.
Interest-free on purchases: Up to 55 days

Our verdict

Offers points for your everyday spending, complimentary smartphone screen insurance and no annual fee, with an 18.99% p.a. interest rate for purchases.

Finder Awards winner

The American Express Essential Card has the rare combination of rewards and an ongoing $0 annual fee. You can also avoid interest charges on your purchases with the interest-free days on this card, which you’ll get if you pay the full account closing balance by the due date on each statement. This gives you a way to get more value from the Membership Rewards points you earn, which can be redeemed for gift cards, statement credits, shopping with David Jones, frequent flyer point transfers and more.

The Amex Essential Card has a purchase rate of 18.99% p.a., which is competitive with other rewards and no annual fee card. While you can find low rate cards with more competitive purchase rates, they don’t usually offer rewards. This is also one of the few credit cards in Australia that offers complimentary smartphone screen cover and gives you access to exclusive Amex Offers.

Pros

$0 annual fee
Point transfers to 10 airline rewards partner programs
Complimentary smartphone screen cover and purchase insurance covers

Cons

3% foreign currency conversion fee
No complimentary travel insurance

The American Express Essential Card gives you a combination of perks and money-saving features. It earns 1.25 Membership Rewards points per $1 on eligible spending, including supermarket shopping, dining, fuel and travel bookings. With government bodies, you’ll earn 1 point per $1 spent.

As well as an ongoing $0 annual fee, it has a 18.99% p.a. interest rate for purchases that is low for a rewards card.

Details

Product details

Product Name	American Express Essential Credit Card
Purchase rate p.a.	18.99%
Interest-free period	Up to 55 days on purchases
Min credit limit	$2,000
Card type	American Express

Eligibility

Available to temporary residents	Yes - Conditions apply
Joint application	No

Rewards

Rewards program	Membership Rewards Gateway
Bonus points	N/A
Rewards points per $ spent	1.25
Rewards points cap	Uncapped

Fees

Annual fee	$0
Minimum monthly repayment	2.5% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3%
Cash advance fee	2% or $2.50, whichever is greater
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, 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

Residency. You must be an Australian citizen, permanent resident or hold a current long term visa (12 months or more). Student visas are not eligible.
Credit history. You must not have a history of bad debt or payment defaults. If you don't know your credit score or what's on your file, you can get a free copy of your credit report through Finder.

Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, email address, date of birth, driver's licence number, marital status, number of dependents and contact number.
Employment details. This covers your current job title and your employer's contact information. You may also need to provide recent payslips, your latest tax return or your accountant's information.
Financial information. You'll need to share details of any other assets, such as savings or shares. You'll also need to provide estimates of your essential expenses – such as rent, mortgage payments, groceries and utility bills – as well as any other loans or lines of credit.

Go to American Express' site More info

Card benefits

Membership Rewards Points. The Amex Essential earns 1.25 Membership Rewards points per $1 on everyday, eligible spending, and 1 point per $1 spent with government bodies in Australia. Points can be redeemed for gift cards, Select + Pay with Points and more through Membership Rewards. You can also transfer points to airline partner programs including Velocity Frequent Flyer and Singapore Airlines KrisFlyer.
Complimentary purchase insurance covers. Use the American Express Essential to pay for eligible purchases and get access to purchase protection insurance, refund protection insurance and extended warranty cover (known as "Buyer's Advantage Cover").

Smartphone screen cover. It's all too easy to end up with a smashed smartphone screen. But if you use your Essential card to pay for your phone (outright or on contract), you can get cover for smartphone screen repairs of up to $500. Cardholders can take advantage of up to two claims per 12-month period.
Amex perks. Enjoy exclusive shopping deals and benefits through Amex Offers, plus pre-sale events and ticket promotions through American Express Experiences.
Mobile payment compatibility. You can conveniently tap and pay with your smartphone when you add this card to your Apple Pay, Google Pay or Samsung Pay account.

Rates & fees

$0 annual fee. There is no annual fee for the American Express Essential.
Interest rate. The Amex Essential has an ongoing purchase rate of 18.99% p.a. Note that you cannot make cash advance transactions with the Amex Essential.

Up to 55 interest-free days. If you pay your balance in full, you will receive up to 55 interest-free days on purchases.
Foreign currency conversion fee. If you use this card overseas or make online payments in a foreign currency, you'll pay a fee worth 3% of the total transaction amount.
Emergency card replacement. If your card is lost or stolen, you could get it replaced within 48 hours, from almost anywhere in the world.

Go to American Express' site More info

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American Express Essential Credit Card

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Eligibility criteria

Required documents

Card benefits

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