American Express Unveils Essential® Rewards Credit Card with Generous Rewards Designed to Appeal to a New Generation of Aussie Consumers

American Express has announced the launch of the American Express Essential® Rewards Credit Card set to appeal to a new generation of Aussie consumers with rich rewards for spending on dining, retail and streaming services.

Recently recognised by Finder¹ as Australia’s most rewarding credit card for eats and drinks, Card Members can earn 5 points per dollar at restaurants, cafes, bars and on fast-food and select food delivery in Australia, plus 3 points per dollar on selected major streaming services, 2 points per dollar at some of their favourite retailers including Myer, Kmart, The Iconic, Amazon, Bunnings and Uniqlo, and 1 point per dollar everywhere else². The Card also offers peace of mind with complimentary insurance³ including Smartphone Screen Cover as well as purchase and fraud protection. It comes with a monthly fee of $9.

Will Thorne, Vice President of Acquisition for American Express Australia said: “The American Express Essential® Rewards Credit Card has benefits and features that will appeal to Gen Z and Millennials who are looking to get a ‘little bit extra’ back on their spending. We want to show them the powerful backing that comes with American Express and this new card is part of our continued efforts to drive brand relevance across generations.”

To coincide with the launch of the American Express Essential® Rewards Credit Card, American Express unveils new research conducted among 1,500 Australians aged between 24 and 35 years, which examines their spending and saving intentions.

Treats Essential to Enjoying Life

The research reveals that young Aussies are actively seeking ways to enjoy life while pursuing financial freedom. Half of those surveyed treat themselves with ‘little treats’ on a weekly basis such as eating out (60%), purchasing a new piece of clothing (47%) or ordering a takeaway drink (45%).

More than half (55%) strive to find the right balance between short-term desires and long-term financial goals, while 62 per cent consider spending money on themselves as a form of self-care. 

Younger Aussies and their Financial Savviness 

More younger Aussies than not consider themselves astute when it comes to their finances, with 58 per cent claiming to have a good or excellent understanding of money management. This is backed up by the data showing 57 per cent have savings set aside. 41 per cent also maintain a budget as well as track their spending.

Knowing how hard they work for every dollar, 70 per cent agree that they are deliberate in how they spend their money.

Concluded Thorne: “Younger generations are often underestimated when it comes to their financial acumen. Our research shows that not only are many of them sensible with their spending, but more than half of those aged between 24 and 35 (61%) are confident in what lies ahead in terms of their financial future 10 years from now.”

Millie Ford Named as Essential® Rewards Credit Card Ambassador

Australian TikTok sensation, actress, musician, podcaster and comedian, Millie Ford, has been named as the official ambassador of the American Express Essential® Rewards Credit Card.

Speaking about the partnership, Millie said: “American Express has long been a brand that I’ve admired. I understand how important it is to have the means to be financially empowered and live life to the fullest. Anyone who has ever aspired to be part of the incredible world of added extras, access and service that come with Amex, can be, through the new American Express Essential® Rewards Credit Card.”

To celebrate the launch of the Card, Amex will host a one-night-only music gig featuring one of Australia’s top artists, Lime Cordiale, with a host of surprise guests and additional extras at Sydney’s Liberty Hall on Friday 19 July. Tickets are $9 per person to match the monthly fee of the Card with all proceeds from ticket sales going towards the music industry via SupportAct.org.

For more information, or to purchase tickets, visit https://www.americanexpress.com/en-au/benefits/entertainment/events. 
 

ENDS

NOTES 

For more information about the American Express Essential® Rewards Credit Card including T&Cs, please click here.

¹ Based on the Finder Consumer Sentiment Tracker average spend on ‘eats and drinks’ per week. Research conducted 1 July 2024. “Eats and Drinks” is defined as spend at restaurants, cafés, fast-food locations, bars/pubs and major food delivery brands; Menulog and UberEats. This does not include supermarket spend. Finder’s Consumer Sentiment Tracker is a live, nationally represented study of the Australian public. Finder has analysed 95 cards affiliated with a rewards program and converted the points earned based on the average spend each month, into a dollar value, by redeeming the points earned for a $100 grocery store card. Excludes ongoing fees.

² A monthly threshold and T&Cs apply to the Card benefits mentioned.

³ Terms, conditions and exclusions apply. 

The American Express Essential® Rewards Credit Card Launch Offer

To celebrate the launch of the American Express Essential® Rewards Credit Card, all new customers who apply by 23 July 2024 will receive a special introductory offer of up to 80,000 Membership Rewards points. Earn 20,000 Membership Rewards points for each 30-day period in which you spend $1,000 on eligible purchases on your Card for the first 120 days. Note, eligibility requirements and T&Cs apply.

This equates to $400 worth of gift cards at retailers such as Myer or JB Hi Fi or can be transferred to airline partners such as Velocity Frequent Flyer which would equate to 40,000 points – enough for 2 Return Economy Reward Seats between Sydney and Melbourne or a Return Economy Reward Seat between Sydney and Fiji with Virgin Australia, plus taxes, fees and carrier charges**

** A return Economy Reward Seat between Sydney and Melbourne is 13,600 Velocity Points plus $85.54 in taxes, fees and carrier charges. A return Economy reward between Sydney and Fiji is 35,600 Velocity Points plus $300.70 in taxes, fees and carrier charges. The quoted redemption fares, taxes, fees & carrier charges are correct as at 17 June 2024 and are subject to change. Fares are subject to availability. Points value for Sydney to Melbourne is based on a domestic return Economy Reward Seat fare with Virgin Australia and must be booked through the Velocity website. Points value for Sydney to Fiji is based on an international return Economy Reward Seat fare with Virgin Australia and must be booked through the Velocity website. Taxes, fees and carrier charges are payable in addition to Velocity Points redeemed. Virgin Australia Airlines carrier charges are payable per sector, per person. Reward Seats and associated charges are not eligible for Points earn. Seats are limited and may not be available at peak times or on all flights. Price may vary until ticketed. Payment surcharge may apply. You can change or get a refund for your booking by paying a fee and any fare difference, at least 24 hours before scheduled departure. You may also request a refund for other reasons, including under the Australian Consumer Law. View the Velocity Rewards Seat fare rules for more information. Some flights may be operated by a partner airline. Full terms and conditions at velocityfrequentflyer.com.

About the American Express Essential ® Rewards Credit Card Research

The research involved a quantitative online survey of 1,500 employed young Australian adults aged 24 to 35 (Gen-Z and Millennials). The sample was selected to reflect the latest ABS Census data on age, gender, and location. Fieldwork was conducted from June 7th to June 21st, 2024, in partnership with Pureprofile, an independent global data and insights organisation listed on the Australian Securities Exchange (ASX). 
 

ABOUT AMERICAN EXPRESS

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com.au and connect with us on facebook.com/americanexpressaustralia, instagram.com/amexau, linkedin.com/company/american-express, x.com/amexau, and youtube.com/americanexpressau.

Key links to products, services and corporate sustainability information: personal cards, business cards and services, travel services, merchant services, corporate card, business travel, diversity and inclusion, corporate sustainability and Environmental, Social, and Governance reports.