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American Express Essentials Card

This card has no annual fee. You can Receive $100 back when you apply online, are approved, and spend $1,500 on your Card within the first 3 months. T&Cs apply. New Card Members only1.

0
annual fee
100
back on your statement
5
days interest free
16.99
interest after interest free period

The American Express Essentials Card

Card benefits

No annual fee

$100 back when you spend $1,500 on eligible purchases in the first 3 months

Complimentary phone screen insurance covering up to $500 for repairs

Apple Pay, Google Pay and Samsung Pay support

Earn 1 point per $1 spent at government bodies

Earn 1.25 points per $1 on purchases outside of government bodies

Up to 55 days interest free

16.99% p.a. interest rate after interest free period

Annual Fee: $0/ year

Card Members who currently hold or who have previously held any Card product issued by American Express Australia Limited in the preceding 18 month period are ineligible for this introductory bonus offer. Previous and existing bank-issued American Express companion cardholders are eligible for this offer.

We may receive a commission from the card issuer for each applicant of this card. You do not pay this amount. More about this in our credit guide.

Frequently asked questions

What are the differences between credit cards and debit cards?

Credit cards:

  • The credit provider allows you to borrow money from them up to the credit limit
  • Can be used to earn rewards such as frequent flyer points, cash back, and insurances on your purchases
  • There’s usually an interest free period from 44 days to 55 days, where no interest is charged if you pay back the full balance owing before the end of the interest free period
  • Interest will be charged on the amount owing after the interest free period if you don’t pay back the full balance
  • Offers extra fraud protection and protection against unauthorised purchases

Debit cards:

  • Money is deducted from your bank account
  • Since it is your money which you are using, no interest or fees are charged (unless you deduct more money than you have in your account)
  • Generally doesn’t allow you to earn points or cash back
  • Generally no extra insurances and fraud protection are offered on purchases

Do credit cards impact your credit score?

Paying off your full credit card balance each month on time may positively affects your credit score, but not paying back the full balance owing on time may negatively impact your credit score. That’s why it’s important to keep on top of your payments and try to pay off the balance in full and on time each month.

Do you need to pay interest on your credit card?

With every credit card, there’s usually an interest free period of up to 44 days or 55 days, whereby if you pay back the full balance owing on your statement before the interest free period, then no interest is charged.

However, if you don’t pay back the full balance owing before the interest free period, then interest will be charged on the balance owing on your statement. That’s why it’s important to keep on top of your credit card statements and try to pay back the full balance owing each month before the end of the interest free period.

Do credit cards impact your borrowing capacity when you're looking to get a mortgage?

Having a credit card may impact your borrowing capacity, because the banks usually look at the full credit limit that you have on your credit card as a debt, even if you pay back the full balance owing each month on time.