Blue Cash Preferred® Card from American ExpressSummary List PlacementTable of Contents: Masthead Sticky
Review: Is the Blue Cash Preferred the best card for you?
If you spend a lot on groceries, streaming, or commuting, the Blue Cash Preferred® Card from American Express is one of the best cash-back credit cards for getting the biggest return for your purchases.
Along with offering a $250 statement credit after you spend $1,000 in the first 3 months from account opening, the Blue Cash Preferred® Card from American Express earns 6% back on your first $6,000 in U.S. supermarket spending each year (then 1% back), which is the best of any cash-back card on the market . You'll also earn 6% cash back on select U.S. streaming services, 3% back on U.S. gas stations and transit, and 1% back on all other eligible purchases (cash back is earned in the form of Rewards Dollars).
The card does come with an annual fee of $95 (waived the first year if you apply by 12/10/2020)Blue Cash Preferred® Card from American Express - Rates & Fees, but it's well worth it if your expenses match with the card's bonus categories. If you max out the U.S. supermarkets 6% cash-back category by spending $6,000 per year (or $500 a month, on average), you'd earn $360 in cash back from those purchases alone.
Before you decide if the Blue Cash Preferred® Card from American Express is right for you, be sure to consider other cash-back cards with bonus categories that might also fit your spending habits. For example, the Chase Freedom Unlimited® offers a bonus of Chase Freedom Unlimited® and has a Chase Freedom Unlimited® annual fee, and it earns 5% back on travel booked through Chase, 3% back on dining and drugstores, and 1.5% back on everything else with no spending caps.
Comparison: American Express Blue Cash Preferred vs other Amex cards
Blue Cash Preferred® Card from American Express
Blue Cash Everyday® Card from American Express
Amex EveryDay® Preferred Credit Card from American Express
Annual fee
$95 (waived the first year if you apply by 12/10/2020)
Blue Cash Everyday® Card from American Express(See Rates)
Amex EveryDay® Preferred Credit Card from American Express
Rewards earning
6% cash back at U.S. supermarkets*
6% back on select U.S. streaming subscriptions
3% back at U.S. gas stations and on transit
1% back on all other purchases
3% cash back at U.S. supermarkets*
2% cash back at U.S. gas stations and select U.S. department stores
1% back on all other purchases
3x points at U.S. supermarkets*
2x points at U.S. gas stations
1 point per dollar on all other purchases
Welcome bonus
$250 statement credit after you spend $1,000 in the first 3 months from account opening
$200 statement credit after you spend $1,000 in the first 3 months from account opening
15,000 points after you spend $1,000 in the first 3 months from account opening
Foreign transaction fee
Yes Blue Cash Preferred® Card from American Express - Rates & Fees
Yes (See Rates)
Yes
Intro APR offer
0% APR on purchases for the first 12 months, then Blue Cash Preferred® Card from American ExpressBlue Cash Preferred® Card from American Express - Rates & Fees
0% APR on purchases for the first 15 months, then Blue Cash Everyday® Card from American Express(See Rates)
0% APR on purchases for the first 12 months, then Amex EveryDay® Preferred Credit Card from American Express
*6%/3% cash back/3x points at U.S. supermarkets on up to $6,000 spent per year, then 1% back/1 point per dollar (cash back is received in the form of Reward Dollars)
Comparison: American Express Blue Cash Preferred vs other cash-back cards
Blue Cash Preferred® Card from American Express
Chase Freedom Unlimited®
Citi® Double Cash Card
Annual fee
$95 (waived the first year if you apply by 12/10/2020)
$0
$0
Rewards earning
6% cash back at U.S. supermarkets*
6% back on select U.S. streaming subscriptions
3% back at U.S. gas stations and on transit
1% back on all other purchases
5% cash back (5x points) on travel purchased through Chase Ultimate Rewards
3% cash back (3x points) on dining and drugstore purchases
1.5% cash back (1.5x points) on everything else
1% cash back when you buy, plus 1% cash back when you pay your bill
Welcome bonus
$250 statement credit after you spend $1,000 in the first 3 months from account opening
$200 after spending $500 in the first three months from account opening
N/A
Foreign transaction fee
Yes Blue Cash Preferred® Card from American Express - Rates & Fees
Yes
Yes
Intro APR offer
0% APR on purchases for the first 12 months, then Blue Cash Preferred® Card from American Express
0% intro APR on purchases for the first 15 months, then a 14.99%–23.74% variable APR
0% intro APR on balance transfers for 18 months, then 13.99% - 23.99% (Variable) APR
*6% cash back at U.S. supermarkets on up to $6,000 spent per year, then 1% back
How to use rewards from the Amex Blue Cash Preferred card
The Blue Cash Preferred® Card from American Express is a straightforward cash-back credit card that doesn't offer a lot of options for redeeming your rewards.
The cash back you earn from the Blue Cash Preferred® Card from American Express is issued in the form of reward dollars, which you can apply to your account as a statement credit once your balance is $25 or more. However, you can't use your rewards toward the minimum payment due.
If you prefer to only earn cash back, the Blue Cash Preferred® Card from American Express is a star. Not only do you earn 6% back on your first $6,000 spent in U.S. supermarkets each year (then 1%), but you also earn 6% back (with no caps) on streaming services, including Hulu, Netflix, and Spotify. You'll also earn an unlimited 3% back at U.S. gas stations and on transit, which includes everything from Lyft and Uber to train fares, tolls, and subways.
Suppose you are the average family who spends a lot more than $6,000 per year (or $500 per month) at the supermarket. In fact, you spend $10,000 per year at Kroger or Whole Foods. With the Blue Cash Preferred® Card from American Express, you would earn $360 in cash back on the first $6,000 you spent and another $40 back earning 1% beyond the $6,000 cap each year. That's $400 already in the bank.
Now imagine you spend another $100 per month at U.S. gas stations — at 3% back, that's another $36 per year. Put $30 per month ($360 per year) in streaming services on the card, and you're approaching $500 per year — and that's not counting any other regular spending on the card or the $250 statement credit after you spend $1,000 in the first 3 months from account opening. This is why the annual fee is worth it — especially the first year.
If you maximize the 6% back at U.S. supermarkets, you'll get $360 in rewards every year at a bare minimum. That's more than enough to make up for the annual fee — and a lot more than you'd earn with a standard 1% cash-back credit card.
Amex Blue Cash Preferred card benefits and features
The Blue Cash Preferred® Card from American Express doesn't offer a long list of features like The Platinum Card® from American Express and other premium cards, but it does offer a handful of helpful perks.
Intro APR offer
The card offers a 0% APR on purchases for the first 12 months of account opening, followed by a 13.99% to 23.99% variable APR(See Rates).
If you rent a car with the Blue Cash Preferred® Card from American Express and decline the rental company's collision damage waiver, you'll receive secondary auto rental coverage. Some restrictions apply, so be sure to read the limitations. This is secondary coverage, not primary car rental insurance, so it kicks in after your own car insurance policy
Global Assist Hotline
Blue Cash Preferred® Card from American Express members who run into trouble while traveling can access Amex Global Assist Hotline for help with translation services, missing luggage, emergency legal and medical referrals, lost passport assistance, and more. The Global Assist Hotline will help arrange these services, but you're responsible for any third-party charges.
Return protection
If you purchase an eligible item with the Blue Cash Preferred® Card from American Express and the original seller won't accept a return, this coverage can get you up to $300 per eligible item (with a maximum of $1,000 per calendar year) for up to 90 days from the purchase date.
Purchase protection
If an eligible item you purchased with the Blue Cash Preferred® Card from American Express is stolen or damaged, you can get reimbursed, up to $1,000 per purchase and up to 90 days from the purchase date (up to $50,000 per calendar year).
When you purchase an eligible item with the card, you can get up to one additional year added to original manufacturer's warranties of five years or less (maximum coverage of $10,000 per item and $50,000 per account per calendar year).
Amex Offers
The Blue Cash Preferred® Card from American Express offers access to the Amex Offers program. Amex Offers can get you cash back or bonus points when you shop with specific retailers and travel brands. You can view all your available offers by logging into your card account and scrolling down. Eligibility for this offer is limited. Enrollment is required in the Amex Offers section of your account before redeeming
American Express Blue Cash Preferred® Card from American Express
American Express Blue Cash Preferred fees and costs
Aside from the annual fee, the Blue Cash Preferred® Card from American Express has a few other fees you'll want to be aware of, though most of them are avoidable if you pay your balance off in full each month.
The Blue Cash Preferred® Card from American Express offers an introductory 0% APR on purchases in the first 12 months of account opening, but after that, you'll pay a 12.99% to 23.99% variable APR.
As with most other cards, the Blue Cash Preferred® Card from American Express charges fees for late payments, returned payments, and cash advances (See Rates). It's not a good choice for international purchases because it adds foreign transaction fees(See Rates).
Holly Johnson is a credit card expert, award-winning writer, and mother of two who is obsessed with frugality, budgeting, and travel.
