Low Interest
American Express Essential Credit Card
American Express(Canada)
Welcome Bonus:
Low fixed interest rate card at 12.99%. Ideal for those carrying a balance.
Secure RateBuddy connection · Application completed on American Express(Canada)’s site
Annual Fee
$25
Purchase APR
12.99%
Cash Advance
12.99%
RateBuddy Verdict
The Good
- Features a very low fixed interest rate of 12.99% for both purchases and cash advances.
- Affordable $25 annual fee makes it accessible for those focusing on interest savings rather than rewards.
- Includes high-tier American Express lifestyle perks like Front Of The Line® access.
The Trade-offs
- Does not earn any Membership Rewards points or cash back on purchases.
- Very limited insurance coverage compared to other Amex products in the same price range.
Rewards & Earnings
Base Rate
0%
Rewards Summary:
This is a low-interest card designed for carrying a balance; it does not earn standard Membership Rewards points.
Welcome Bonus Details
Low fixed interest rate card at 12.99%. Ideal for those carrying a balance.
Features & Benefits
Extended Warranty Insurance
Buyer's Assurance extends warranty 1 year
Purchase Security Insurance
Purchase Protection for 90 days
Low Purchase Interest
12.99% fixed purchase interest rate
Special Event Access (e.g., Front Of The Line)
Front Of The Line® access
Common Carrier Accident Insurance
Travel Accident Insurance up to $100,000
Insurance Coverage
Includes $100,000 Travel Accident Insurance, Purchase Protection (90 days), and Buyer’s Assurance (extends warranty up to 1 year).
Rates, Fees & Eligibility
| Purchase APR | 12.99% |
|---|---|
| Cash Advance APR | 12.99% |
| Annual Fee | $25 |
| Grace Period | 21 days |
| Income Required | No specific requirement listed. |
| Recommended Credit Score | — |
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Filed Under
Low Interest
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