Update: This offer is expired.

American Express announced that they are launching two new credit cards. The new credit cards will be called the EveryDay card and the EveryDay Preferred card.

The new cards will be credit cards, with a credit line and the option to carry a balance, as opposed to “Charge cards” that have no credit limit and must be paid in full each month.

With these cards, you will be able to earn full Membership Rewards points, that are transferable to partner programs such as Delta, British Airways, etc;. – Which is new for a consumer credit card product from American Express. As of of now, the only cards that the points are transferable out,  are the premium charge cards such as the Platinum and the Gold. The consumer cards such as the Blue Cash, only have the option to redeem the points for merchandise or gift cards etc;.

The EveryDay card will have no annual fee and the EveryDay Preferred card will have a $95 annual fee which is similar to the Barclaycard Arrival ($89 annual fee – waived for the first year)

— The EveryDay card will earn an initial $10,000 bonus points after $1,000 spend in 90 days.
You’ll earn 2 points per dollar at US Supermarkets on up to $6,000 annual spend and 1 point per dollar everywhere else.
Also, if you use the card to make 20 or more purchases within any one billing period,  you’ll get an extra 20%  points on all those purchases.
There will be an initial 0% APR on purchases and balance transfer for the first 15 months.
The card will also have the Smart Chip technology.

— With the EveryDay Preferred card ($95 annual fee), you’ll get an initial $15,000 bonus points after $1,000 spend within the first 90 days.
You’ll earn 3 points per dollar at US Supermarkets on up to $6,000 annual spend, 2 points per dollar at US stand alone gas stations and 1 point everywhere else.
Also, if you use the card to make 30 or more purchases within any one billing period,  you’ll get an extra 50%  points on all those purchases.
This card will also get the 0% APR for 15 months and the Smart Chip.

Another interesting feature that both these cards will have, is a mobile App which will help keep track of purchases, so you can know when you are close to earning the 20% or 50% extra points respectively.

Applications for the new cards will open April 2, 2014.

Bottom Line: With these new cards, you can potentially earn 2.4 – 4.5 Membership Reward points per dollar, capped at $6,000 per year.

It’s also a nice way to park Membership Reward points for free (with the EveryDay card), that you earned with one of the other American Express charge cards.