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Blue Cash Preferred® Card from American Express Review
The Blue Cash Preferred® Card from American Express lets you earn 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%) and 6% on U.S. streaming subscriptions, 3% at U.S. gas stations and transit and 1% on everything else. If you routinely charge everyday purchases to your credit card, the Blue Cash Preferred® Card from American Express gives you the ability to earn hundreds in cash back every year.
The card also comes with all the features typically offered by American Express, including car rental loss and damage insurance, fraud protection, the Global Assist Hotline, complimentary membership in ShopRunner and Pay It Plan It, which lets you break big-ticket items down into smaller payments.
Despite the Limited Time Offer: $0 introductory annual fee for one year, then $95. Offer Expires 12/10/2020 annual fee (See Rates & Fees here ), you’ll rack up big cash back rewards with Blue Cash Preferred® Card from American Express.
What we like about Blue Cash Preferred® Card from American Express
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations and transit-related purchases, including taxis, rideshares, parking, tolls, buses and trains.
- Limited Time Offer: Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Offer Expires 12/10/2020.
- Terms Apply
Things to consider
- Blue Cash Preferred® Card from American Express has a Limited Time Offer: $0 introductory annual fee for one year, then $95. Offer Expires 12/10/2020 annual fee.
- American Express credit cards are accepted by fewer merchants than Visa or Mastercard.
- Superstores and warehouse clubs are not considered supermarkets, so you won’t earn cash back when you use the card to shop there. The offer is also restricted to U.S. supermarkets.
- Airfare, car rentals and cruises are not considered transit; you can’t earn 3% cash back when you purchase these items with the card.
- There is a 2.7% foreign transaction fee. (See Rates & Fees here )
Blue Cash Preferred® Card cash back details
The Blue Cash Preferred® Card from American Express offer caps the 6% at U.S. supermarkets cash back award at $6,000 (then 1%), which roughly corresponds with the amount a family of four spends on groceries a year. There is no cap on either the 6% cash back for U.S. streaming services, like Hulu and Netflix, or the 3% cash back at U.S. gas station purchases and transit. If you commute by bus or train to work each day or own a gas-guzzling vehicle, you can potentially earn hundreds of dollars in cash back in the 3% category alone.
Worried that you won’t spend $6,000 a year at U.S. supermarkets? There are several ways to maximize the grocery spend category. Depending on how your store handles this transaction, gift cards purchased at U.S. supermarkets may be eligible for the cash back reward as well, giving you a discount on movie tickets or dining. You should also keep in mind that many common household items are sold in grocery stores, including household cleansers, toiletry and over the counter medications.
Blue Cash Preferred® Card fees
Blue Cash Preferred® Card from American Express has a Limited Time Offer: $0 introductory annual fee for one year, then $95. Offer Expires 12/10/2020 annual fee that isn’t waived the first year. The balance transfer charge is $5 or 3% of the total amount, whichever is more. Late payment fees are up to $40; there is no over-limit fee (See Rates & Fees here ).
This card has a foreign transaction fee — 2.7% on each transaction after conversion to U.S. dollars (See Rates & Fees here ). Given the fact that you can’t get cash back rewards for foreign grocery store purchases, this is not a good card to use when traveling.
How does it compare to other cash back cards?
When stacked up against Bank of America Cash Rewards Credit Card and Chase Freedom Unlimited® — two other easy-to-use cash back cards for people with great credit —Blue Cash Preferred® Card from American Express offers the greatest potential for cash back rewards earned each year in spite of the annual fee. However, Chase Freedom Unlimited® is the best deal for people who regularly spend in a variety of categories, while Bank of America Cash Rewards Credit Card offers superior rewards for people who spend big in one single category, like gas stations or home improvement stores. Both Chase Freedom Unlimited® and Bank of America Cash Rewards Credit Card let you redeem points anywhere the cards are accepted, not just in the U.S.
|Card||Ongoing Purchase APR||Annual Fee||Intro Bonus||Credit Needed||Key features|
|Blue Cash Preferred® Card from American Express||13.99%-23.99% Variable. See Rates & Fees here .||Limited Time Offer: $0 introductory annual fee for one year, then $95. Offer Expires 12/10/2020 . See Rates & Fees here .||Limited Time Offer: Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Offer Expires 12/10/2020. Terms Apply.||Excellent|
|Bank of America Cash Rewards Credit Card||15.49% to 25.49%||None||$200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening||Good to Excellent|
|Chase Freedom Unlimited®||14.99%–23.74% variable||$0||$200 Bonus after you spend $500 on purchases in your first 3 months from account opening||Good to Excellent|
For rates and fees of Blue Cash Preferred® Card from American Express, please click here .
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