American Express Everyday vs. Bank of America Americard vs. Chase Slate Cards

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American Express Everyday vs. Bank of America Americard vs. Chase Slate Cards

Generally, people can afford the monthly payments for their credit card purchases. Where most folks get tripped up is the interest payment. That's why no interest credit cards are so attractive. They give you the ability to process large purchases (that you can afford) with the flexibility to pay them off slowly and without the hefty interest charges.

Within this category, there are better cards and worse ones. I've chosen three of the top 0 interest cards so you can see which one is best for every scenario. Check out how the AmEx Everyday card holds up against the BofA Americard and the Chase Slate card, and find out which one will help you spend smartly today.

American Express Everyday CardBank of America AmericardChase Slate Card
Signup Bonus10,000 bonus points when you spend $1000NoneNone
Rewards Program2x points for groceries up to $6,000 annually
1x after that and on all other purchases
Earn 20% more when you use your card 20 times or more in a month
NoneNone
Introductory Offer0% APR for 15 months on new purchases and balance transfers made within first 60 days0% APR for 15 months on new purchases and balance transfers made within first 60 days0% APR for 15 months on new purchases and balance transfers made within first 60 days
Regular APR14.74% to 25.74% Variable APR14.74% to 24.74% Variable APR14.74% to 25.74% Variable APR
Balance Transfer FeeNone$0 for the first 60 days, $10 or 3% after that$0 for the first 60 days, $10 or 3% after that
Annual Fee$0$0$0

As you can see, all three of these amazing credit cards offer you almost a year and a half of interest-free payments on new purchases and balance transfers. They also charge no annual fee, so you get to enjoy the benefit of zero interest without even paying for it. Now, we’re going to have to dig a little deeper to really find out what separates one from the other. Here’s what I found out when I took a closer look.

American Express Everyday Card

What I really liked...

  • 10,000 bonus points signup bonus
  • $0 balance transfer fee
  • 20% accelerated earn rate
  • 2x on grocery store purchases
  • 1x for everything else
  • Travel and shopping benefits

What needs improvement...

  • Not a Visa or MasterCard

Best for...

  • Just about everyone!
  • People who want a great rewards card for grocery shopping
  • Anyone transferring a balance or making a big purchase

The American Express Everyday card is possibly the sexiest 0 interest credit card on the market. It’s got just about anything you could ask for in a credit card. No annual fee, great rewards program, excellent introductory offer. Oh my! Before I dive into the glorious goodies this card offers, I’ll point out the one black mark against it. American Express is widely accepted in America (we’re talking millions of stores). Outside the country, though, it might be harder to find merchants who accept this card. Don’t get me wrong, there are plenty of stores that take American Express, but it’s not as widely accepted as Visa or Mastercard, so you should know that beforehand.

That being said, the American Express Everyday card is a phenomenal credit card for almost anyone. Like I said earlier, you get 15 months of zero interest payments on balance transfers and new purchases. Be sure to transfer your balance within 60 days, so you get this terrific offer. Also, the American Express Everyday card lets you get away with transferring balances fee-free forever.

Next up, we have a stellar rewards program. You’ll earn a whopping 2x bonus points for every dollar spent at grocery stores up to $6,000 annually. After that, you’ll earn 1x bonus point per dollar, and you earn 1x bonus point on all other purchases. Once you add the 20% acceleration offer, the American Express Everyday card really blows my mind. Get 20% more points when you use your Everyday card 20 times or more in a billing cycle. That’s a generous offer you won’t find anywhere else.

American Express Everyday card bonus points can be redeemed for loads of goodies. Transfer them to any of the participating airline partners for free airfare. Partners include big names like:

  • Delta
  • Air Canada
  • Emirates
  • Virgin Atlantic

And smaller airlines too like Hawaiian Airlines and All Nippon Airways, to name a few. American Express also partners with major hotel chains like Hilton and Starwood, so you can pay for hotel reservations with your bonus points at these five-star hotels, too. You can redeem points for gift cards, online shopping purchases from thousands of retailers, or statement credits as well.

If a flight from NY to Miami costs you on average 20,000 miles each way, you’ll need 40,000 miles for a round trip ticket. Just signing up gives you a quarter of your flight already. To earn the rest, here’s what to do:

  • Spend the max on groceries for another 12,000 points
  • Use the card 20x per month to accelerate your earnings by 20% so that 12,000 turns into 14,400
  • Now you’re up to 24,400, just 5,600 to go.
  • By spending another $4,700 (1.2x4700=5600, the 1.2 comes from using the 20% accelerator), you’ll have earned enough to cover your entire roundtrip flight!

That’s chump change when you consider that you’re making purchases every day anyway, and now you get a free flight for your spending!

Bank of America Americard Card

What I really liked...

  • No penalty APR
  • Rated Best Card for Money Transfers by Money Magazine 2017
  • Fraud protection features
  • Text banking
  • $0 liability insurance

What needs improvement...

  • No rewards program

Best for...

  • Anyone with outstanding balances on other high-interest credit cards
  • People who hate annual fees
  • Those looking to make a large purchase but don’t want to pay for it in full

Next up, we have the Bank of America Americard. The Americard also has the exciting zero-interest 15-month offer, so if you like saving money on interest payments, this is a good choice for you. Americard also comes with a solid reputation and is highly acclaimed in the finance world. You’ll also enjoy benefits from having this card if you have a BofA checking account, in terms of convenience.

What I really liked about this card was all of the security features that come along with it. Credit card security is super important with the high rate of digital identity theft and fraud, so fraud protection makes me feel a lot better about this card. Plus, if you’re traveling abroad, security should be at the top of your priorities list. The Americard has loads of fraud protection features built in like automatic account lockdown if there's suspicious activity on your account, ShopSafe Bank of America's easy and safe online shopping tool, digital wallet technology, account alerts, and chip-enabled cards. Call me crazy, but security is a deal-breaker for me.

Chase Slate Card

What I really liked...

  • Free FICO score
  • Higher than average approval rating
  • No penalty APR
  • Purchase protection
  • Fraud alerts and protection
  • Chip embedded technology

What needs improvement...

  • No signup

Best for...

  • People who don’t end up using their rewards points and prefer smaller monthly payments on big purchases
  • You if your credit card debt is getting unmanageable

The Chase Slate card is yet another great 0-interest card. It’s got the same offer as the other two cards, but what I really liked about this one is that it charges no penalty APR fee. Some card issuers will raise your interest (substantially, I might add) if you miss a payment or are late one month. When this happens, it cancels out any savings you made from opting for a zero interest card in the first place. So, the fact that the Chase Slate card doesn’t charge any penalty APR fee is a big deal in my book. I also like all the perks you get like fraud protection and free FICO score.

Oh, and one other benefit to the Chase Slate card is the approval rating. Most cards like these require excellent credit scores, something a lot of us don’t have, which puts these juicy benefits out of our reach. Boohoo. The nice thing about Slate is that it is a lot easier to get approved for even if you don't have an excellent credit score. While there are no guarantees, there's a lot of positive online feedback from people who've applied and gotten approved for this card with simply good credit. So, go ahead and apply, you never know!

If you need rewards, start with the AmEx Everyday card. Then, remember, you’ll enjoy 15 months of hassle-free, interest-free payments with any of these awesome cards and no annual fee, so why not collect them all! Just be sure you pay off the balance before the promotional period is over. Otherwise, you’ll be stuck paying interest on your balance, and that’s no fun.

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