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 - page last updated September 26, 2020

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure.

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    CUA Low Rate Credit Card

    11.99% p.a.

    0% p.a. for 13 months and then 21.74% p.a.

    $49 $0 in the first year

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    St.George Vertigo

    0% p.a. for 7 months then 13.99% p.a.

    0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)

    $55 $0 in the first year

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    17.99% p.a.

    2.99% p.a. for 9 months and then 17.99% p.a.

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  • Hot Deal$200 Cashback Offer (T&Cs apply)

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    13.74% p.a.

    0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)

    $59

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    CUA Platinum Credit Card

    19.99% p.a.

    0% p.a. for 13 months and then 21.74% p.a.

    $149 $0 in the first year

    CUA Platinum Rewards

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