Valley Cash Rewards American Express® Card
$25 Bonus Reward
- Regular Purchase APR 15.49% to 24.49% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 15.49% to 24.49% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 25.49% variable based on the Prime Rate
- Annual Fee None
- Credit Needed Excellent , Good
- Intro Purchase APR 0% for 6 months from account opening date
- Processing Network American Express
- 3% cash back at gas stations up to $6,000 per year
- 2% cash back at supermarkets
- 1% cash back on all other purchases
- $25 reward bonus after your first purchase
- No annual fee
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 15.49% to 24.49% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 6 months from account opening date
- Balance Transfer APR: 15.49% to 24.49% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 25.49% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 4% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 2% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $39
- Return Payment Penalty Fee: Up to $35
At a Glance
The American Express® Cash Rewards Card from Valley National Bank is a card that rewards you for your biggest daily expenses: gas and groceries. Specifically, it allows you to earn up to 3% cash back at gas stations, plus 2% at grocery stores and 1% everywhere else. The 0% introductory APR, point bonus and American Express benefits round out the rest of this rewards card.
Ideal for Those Who:
- Want to earn the most cash back on gas and groceries
- Are looking for solid rewards but want to avoid an annual fee
- Can utilize the short 0% introductory APR period on a purchase or balance transfer
- Will take advantage of the additional features from American Express
Valley American Express® Cash Rewards Card Review
Valley’s Cash Rewards American Express® Card offers easy-to-earn points on the most common monthly expenses, making it a good choice for just about any cardholder. While this card limits the redemption options to cash back, heavy commuters and fans of home cooking alike can still appreciate earning extra rewards at gas stations and supermarkets.
American Express® Cash Back Rewards from Valley
This cash back Valley National Bank credit card offers a pretty standard rewards rate, with no rotating categories to worry about. Instead, you’ll get 3% back at gas stations, up to $6,000 per year. That’s about $115 per week, which means you likely won’t reach this limit unless you’re a heavy driver or have more than one vehicle to fill up. You’ll also earn 2% back on all supermarket purchases (this generally doesn’t include warehouse stores or wholesale clubs) and 1% on uncategorized expenses. When you make your first purchase, this Amex even throws in a $25 reward bonus. This isn’t as flashy as the bonus you’d get from higher-end rewards credit cards, but the trade-off is you have no annual fee to worry about.
Rewards Redemption and Intro APR
Through Valley, you can redeem American Express rewards for cash, either in the form of a statement credit or a deposit into your Valley account. In order to explore other redemption options, you’ll have to apply for the card to get access to the rewards catalog, since it isn’t public. This is common with many smaller financial institutions these days. There’s no limit to the amount of rewards you can accumulate, though you’ll have to redeem them within 5 years. The introductory APR is also on the more limited side when compared to similar cards. However, most Valley credit cards have this 6-month 0% APR offer, so that’s as good as it’ll get with this bank. An intro period like this best suits those who have a small balance to transfer over, or who plan to make a significant purchase that won’t take more than 6 months to pay off.
Perks from American Express
All American Express credit cards come with a few additional perks for being a part of the network. This cash rewards card from Valley is no exception. When you pay with your card, you gain access to benefits like:
- Return protection for certain purchases
- Zero fraud liability
- Coverage for rental cars
Should You Apply for the Valley Cash Rewards American Express® Card?
This American Express Cash Rewards credit card is one of three rewards cards offered through Valley National Bank. Of the other two, this one serves as a middle-of-the-road option as far as rewards go. The main differences between this card and the Valley Visa Signature Real Rewards Card is the network and the rewards rate, as the Visa offers 1.5% cash back on everything. Meanwhile, the APR and introductory period are exactly the same. In other words, this card may fit a little better into your wallet if you can meet the credit requirements. If you want something similar with a little more flexibility and don’t mind a different bank, consider the Discover it® Chrome. You’ll earn a steady 2% back at gas stations and restaurants, with a much longer intro APR and the Cashback Match at the end of your first year.