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American Express Essential™ Credit Card review

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Advertiser Disclosure

Interest Rate: Purchases
Balance Transfer
Signup Bonus

Informr score
The American Express Essential™ Credit Card currently has an Informr score of 10 out of 10. This score is based on our evaluation of 9 sources including reviews from users and the web's most trusted critics.

Am I eligible?

American Express Essential™ Credit Card is typically available to those with good credit scores (650 or greater).
To get this card, you must also:
Yes Be at least 18 years of age (AB, MB, ON, PE, QA, SK). 19 in all other provinces.
Yes Be a permanent or temporary resident of Canada
Yes Have a minimum personal income of $15000.

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...

Money We Have

The 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.

- Barry Choi, Money We Have

The 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.

- Jordann Brown,

When 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...

- Barry Choi,

If 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...

- Jordann Brown,

You 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.

- creditcardGenius


Interest Rates
Regular APR Interest Rate 12.99%
Balance Transfer Interest Rate 12.99%
Cash Advance Interest Rate 12.99%
Rates & Fees
Annual Fee $0.00
Balance Transfer Fee 3%


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
Sign up bonus No
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
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
Additional comments
Terms & Conditions Official Terms & Conditions
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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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