Credit Card Compare

American Express Essential Rewards Credit Card

23.99%
Purchase rate
$108
Annual fee
30,000
Bonus points

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American Express Essential Rewards Credit Card card
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You may have seen us in
The Sydney Morning HeraldNews.com.auYahoo! FinanceDaily Mail Australia

CardIQ

41Fair

Fair

Overall score, out of 100 · How this works

  • 55 days interest-free45
  • Frequent flyer41
  • Rewards42
  • Sign-up bonus38
  • Velocity Points41

Customer reviews

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Pros & cons

What's good

  • 30,000 bonus Membership Rewards points to start, worth around $300 at our 1c-per-point valuation.
  • Points transfer to 13 rewards programs, including Accor Live Limitless (ALL), Air New Zealand Airpoints and British Airways Club.
  • Earns 1 point per $1 on ATO and government payments, the same rate as everyday spend.
  • No fee to add an additional cardholder.

Worth noting

  • The $108 annual fee is high for a Standard card, where the typical fee is about $50.
  • The 23.99% p.a. purchase rate sits in the most expensive quarter of cards (the median is 18.99% p.a.) if you carry a balance.
  • Earns 1 point per $1 on everyday spend, around the dataset average.
  • 3.5% foreign transaction fee on overseas spending, at the high end of the market.

Card details

The basics

Additional cardholder fee
$0 p.a.
Card tier
Standard
Card type
American Express
Card use
Personal
Credit limit
$2,000 – $100,000
Credit rating
Good
Rewards program
American Express Membership Rewards

Eligibility

Instant approval
Yes (response in ~60 seconds)
Joint application
No
Minimum age
18 years old
Minimum income
Not specified
Residency
Australian citizen or permanent resident
Temporary residents
Not eligible

Rates & fees

Ongoing interest rates

Cash advances
23.99% p.a.
Purchases
23.99% p.a.

Fees

Additional cardholder fee
$0
Annual fee
$108 p.a.
Cash advance fee
—
Foreign transaction fee
3.5%
Late payment fee
$30

Repayments

Interest-free period
Up to 55 days on purchases
Minimum repayment
2.5% of the closing balance or $30, whichever is greater

Balance transfers

This card has no promotional balance transfer offer. To move existing debt to a lower rate, compare balance transfer cards.

Introductory purchase offer

This card has no introductory purchase rate offer. If you're carrying a balance or planning a big spend, compare 0% purchase cards.

Rewards

Earn rate

Everyday spend
1 pt per $1
Bonus categories
None
Other purchases
None
Overseas spend
None
ATO/government
1 pt per $1 on ATO and government payments
Reduced rate above monthly cap
None
Points cap
Uncapped
Points expiry
Points don't expire while your account is open and in order.

Sign-up bonus

Bonus spend required
—
Sign-up bonus
30,000 points

Transfer partners

Accor Live Limitless (ALL)
5 pts → 1 pt (≈ 0.2 pts per $1)
Air New Zealand Airpoints
200 pts → 1 pt (≈ 1 pt per $200)
British Airways Club
3 pts → 1 pt (≈ 0.33 pts per $1)
Cathay (Asia Miles)
3 pts → 1 pt (≈ 0.33 pts per $1)
Emirates Skywards
4 pts → 1 pt (≈ 0.25 pts per $1)
Everyday Rewards
5 pts → 4 pts (≈ 0.8 pts per $1)
Hilton Honors
2 pts → 1 pt (≈ 0.5 pts per $1)
Malaysia Airlines Enrich
3 pts → 1 pt (≈ 0.33 pts per $1)
Marriott Bonvoy
3 pts → 2 pts (≈ 0.67 pts per $1)
Qatar Airways Privilege Club
3 pts → 1 pt (≈ 0.33 pts per $1)
Singapore Airlines KrisFlyer
3 pts → 1 pt (≈ 0.33 pts per $1)
Velocity Frequent Flyer
2 pts → 1 pt (≈ 0.5 pts per $1)
Virgin Atlantic Flying Club
3 pts → 1 pt (≈ 0.33 pts per $1)

Where these points could take you

Auckland
Flying Virgin Australia non-stop, using transferred Velocity points. Economy 17,900 pts.
Singapore
Flying Singapore Airlines non-stop, using transferred Velocity points. Economy 29,000 pts.

Flights you could book with the sign-up bonus plus a year of spending $3,000 a month on this card. One-way from Sydney or Melbourne, one adult, before taxes and carrier charges. Award prices and seat availability change.

Where this card sits vs similar cards

Compared with every other personal credit card we list that has the feature. The further right the dot, the better this card does.

Interest-free days55 daysTop 10% (6th of 192 cards)
Rewards value$360 a yearBetter than most (26th of 95 cards)
Annual fee$108 a yearMiddle of the market (120th of 200 cards)
Overseas fee3.50%Not as good as most cards (152nd of 200 cards)
Sign-up bonus$300Not as good as most cards (49th of 59 cards)
Purchase rate23.99%Among the weakest we track (181st of 196 cards)

Data as at August 2026. Rates change often, so check the issuer's terms. Factual information, not a recommendation.

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Sources

Credit Card Compare
Australian credit card statisticsHow CardIQ scores cards
Issuer
American Express
Program
American Express Membership Rewards