AMEX introduces new $0 annual fee Essential Credit Card

By Rebeccah Elley ·

It’s common knowledge that many rewards credit cards, come with high annual fees attached. Now American Express is going against the grain launching its new $0 annual fee Essential Credit Card this week.

The rewards credit card will earn users 1 membership rewards point for every $1 spent, which can be redeemed through 8 different airline rewards programs. Cardholders will also receive a $50 credit when they sign up and make purchases of at least $500 within the first 2 months.

RELATED: Woolworths replaces Qantas Frequent Flyer program with $10 off your shop scheme

The Essential Credit Card comes with a purchase rate of 14.99%, which is fairly low compared to the average rate in Mozo’s database of 17.40%. And AMEX is also targeting Aussies trying to pay off debt, offering a 0% balance transfer rate for the first 12 months.

In a statement American Express revealed it conducted extensive research and found that to tap into the older millennial audience, who are largely value seekers it needed to provide a card with flexible rewards and no fee.

Users of AMEX’s new credit card will also have access to Apply Pay when it launches in Australia later this year, which allows them to pay with their smartphone. To top things off, the AMEX Essential Credit Card comes with smart phone screen insurance, which means the card member can claim up to $500 in repairs two times a year if they crack their phone screen. But keep in mind, there is a 10% excess to pay per claim.

Are you looking for some new plastic for your pocket? Head on over to our rewards credit card section to compare deals today.

Credit card comparisons on Mozo - rates updated daily

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure.
  • Apply By 30 June 2021
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    Bendigo Bank Low Rate Credit Card

    0% p.a. balance transfer for 24 months (Reverts to 11.99% p.a). Low annual fee of $45 and no fees for additional cardholders.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    11.99% p.a.
    0% p.a. for 24 months and then 11.99% p.a. (2.00% balance transfer fee)
    $45
    -
    Go to site
    Details
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    Bankwest Breeze Mastercard

    Enjoy 0% p.a on balance transfers for 15 months then 9.90% thereafter. No annual fee for the first year. Limited time only. Other fees, T&Cs apply. New Breeze Mastercard customers only.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    0% p.a. for 15 months then 9.90% p.a.
    0% p.a. for 15 months and then 9.90% p.a.
    $49 $0 in the first year
    -
    Go to site
    Details
  • Apply By 7 September 2021
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    Westpac Low Rate

    Enjoy a super low rate of 13.74% with 55 days interest free plus 0% balance transfer for up to 28 months at 1% BT fee. No annual card fee for the first year, $59 thereafter.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    13.74% p.a.
    0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)
    $59 $0 in the first year
    -
    Go to site
    Details
  • Apply By 31 May 2021
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    Citi Simplicity

    There is no annual fee ever, you'll get up to 55 days interest free, free wine when you dine with the Citi Dining Program and the convenience of worldwide acceptance with Visa and Visa payWave. Plus for the first 6 months you'll enjoy 0% on balance transfers.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    0% p.a. for 6 months then 21.49% p.a.
    0% p.a. for 6 months and then 22.24% p.a.
    $0
    -
    Go to site
    Details
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    Defence Bank Foundation Credit Card

    Defence Bank Low Rate Credit Card offers a 3.99% p.a. 6 month introductory rate on balance transfers, purchases and cash advances. Up to 55 days interest free on purchases.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    3.99% p.a. for 6 months then 8.99% p.a.
    3.99% p.a. for 6 months and then 8.99% p.a.
    $45
    -
    Go to site
    Details

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