Am I eligible?
To get this card, you must also:
Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.
What the Critics Are Saying...
- Barry Choi, Money We HaveThe card is perfect for those who are looking to reduce their debt or the amount of interest they pay every month. The included American Express Invites is a perk that is often overlooked, but cardholders will love it.
- Jordann Brown, Ratehub.caThe American Express Essential Credit Card is a great place to start if you’re looking for a credit card with a low interest rate. With this credit card, you’ll pay just 8.99% on any purchases that aren’t paid off after the 21 days grace period.
- Barry Choi, Ratehub.caWhen it comes to the best balance transfer credit cards, you could argue that the American Express Essential Credit Card offers the most benefits. The 1.99% promotional rate for the first six months is higher the rest of the cards, but it’s still incredibly low. Oh, and the 8.99% interest rate after...
- Jordann Brown, Ratehub.caIf you’re looking for a low-interest credit card to round out your financial products, the American Express Essential Credit Card is a great option. While this card may be no-frills, it still offers some insurance coverage in the form of travel accident insurance, purchase assurance, and extended wa...
- creditcardGeniusYou max your savings with a 8.99% interest rate, the lowest permanent no-fee rate on the market that doesn't depend on your credit score. You either qualify or you don't - no bait and switch with low teaser rates here. That means you can start paying down your balance faster.
Details
| Interest Rates | |
|---|---|
| Regular APR Interest Rate | 12.99% |
| Balance Transfer Interest Rate | 12.99% (1.99% for the first 6 months) |
| Cash Advance Interest Rate | 12.99% |
| Rates & Fees | |
| Annual Fee | $0.00 |
| Balance Transfer Fee |
3% Maximum |
| Cash Advance Fee | $2.75 |
| Foreign Transaction Fee |
2.5% Transactions made in a foreign currency will be converted and posted to your account in Canadian currency. |
| Over Limit Fee | $29.00 |
| Late Payment Fee | $0.00 |
| Promotions | |
| Sign up bonus | No |
| Rewards | |
| All Purchases | No |
| Restaurants | No |
| Gas | No |
| Groceries | No |
| Hotels | No |
| Travel | No |
| Pharmacy | No |
| Bills | No |
| Features & Benefits | |
| Additional Card Holders | Yes |
| Travel Accident Insurance | Yes |
| Car Rental Insurance | No |
| Car Rental Discount | No |
| Extended Warranty | Yes |
| Purchase Protection | Yes |
| Zero Liability | Yes |
| No Foreign Transaction Fees | No |
| Emergency Assistance | No |
| Concierge Service | No |
| Price Protection | No |
| Fraud Protection | Yes |
| Free Credit Scores | No |
| Wireless Payments | Apple Pay |
| Virtual Cards | No |
| Eligibility | |
| Minimum Security Deposit | $0 |
| Minimum Age |
18 years in AB, MB, ON, PE, QA, SK. 19 years in all other provinces. |
| Minimum Personal Income | $15,000 per year |
| Temporary Residents | No |
| More | |
| Additional comments | |
| Terms & Conditions | Official Terms & Conditions |
| Suggest a correction |
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Information in this article is believed to be accurate at the time it was written, but terms and conditions may change at any time. All information is presented without warranty or guarantee. Please verify all terms and conditions of any credit card prior to applying.
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