Blue Cash Preferred® Card from American Express Review
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The card_name offers up to 6% cash back and a welcome offer. It's an excellent credit card if grocery shopping is one of your bigger expenses. It also offers elevated rewards on select streaming services, gas, and transit. There's a $0 intro annual fee for the first year, then $95. There's also a 0% introductory APR offer.
Our Rating
4.5/5.0
Welcome Offer
Earn a $250 statement credit
Annual Fee
$0 intro annual fee for the first year, then $95.
0% on Purchases
12 months
Reward Rate
1%-6%
0% on Balance Transfers
12 months
Welcome Offer
Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.Features & Benefits
| Security | EMV Chip Enabled, Zero Liability, Alerts |
| Contactless Payments | Tap to Pay, Apple Pay, Google Pay, Samsung Pay, Fitbit Pay |
| Benefits | Extended Warranty Coverage, Purchase Protection, Return Guarantees, 24/7 customer service |
| Travel Perks | Access to Special Events and Concerts, Auto Rental Collision Damage Waiver, Emergency Travel Assistance |
Rewards
Interest Rates & Fees
| Annual Fee | $0 intro annual fee for the first year, then $95. |
| Foreign Transaction Fee | 2.7% of each transaction after conversion to US dollars. |
| Regular APR | 19.24% - 29.99% (V) APR |
| Balance Transfers | 0% Intro APR for 12 months on balance transfers, then 19.24% - 29.99%(V) APR after that. |
| Balance Transfer Fee | Either $5 or 3% of the amount of each transfer, whichever is greater. |
| Purchases | 0% Intro APR for 12 months on purchases, then 19.24% - 29.99% (V) APR after that. |
Insurance
Extended Warranty
When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year.
- Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply.
- Please visit americanexpress.com/benefitsguide for more details.
- Underwritten by AMEX Assurance Company.
Return Protection
With Return Protection, you may return eligible purchases to American Express if the seller won't take them back up to 90 days from the date of purchase. American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express® Card. Purchases must be made in the U.S. or its territories.
- Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply.
- Please visit americanexpress.com/benefitsguide for more details.
Purchase Protection
When an American Express® Card Member charges a Covered Purchase with their Eligible Card, Purchase Protection can help protect their Covered Purchases for up to 90 days from the Covered Purchase date if it is stolen or accidentally damaged. The coverage is limited up to $1,000 per occurrence, up to $50,000 per Card Member account per calendar year.
- Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply.
- Please visit americanexpress.com/benefitsguide for more details.
- Underwritten by AMEX Assurance Company.
What Credit Score Is Required to Get the Blue Cash Preferred® Card from American Express
The following credit score data are based on publicly available information we have collected from various forums. We have no way to confirm the accuracy of this data. In addition, keep in mind that credit card issuers use a number of factors in their underwriting process, and these factors can change at any time.
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 05/17/2021 | Experian | ||
| Approved | 04/09/2022 | Experian | ||
| Approved | 04/09/2022 | TransUnion | ||
| Approved | 12/17/2021 | Experian | ||
| Approved | 12/17/2021 | TransUnion | ||
| Approved | 03/20/2022 | Experian | ||
| Approved | 07/21/2021 | Experian |
- Welcome offer
- Up to 6% cash back
- Annual fee
- High APR
- Foreign transaction fee
What Are the Best Alternatives?
Citi Custom Cash® Card
Rating
4.7
Rewards Range
1% - 5%
Annual Fee
$0
Citi® Double Cash Card - 18 month BT offer
Rating
4.9
Rewards Range
1% to 2%
Annual Fee
$0
Chase Freedom Unlimited®
Rating
4.9
Rewards Range
1.5% - 5%
Annual Fee
$0
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Blue Cash Preferred Rewards Calculator
Our Review
Having written about credit cards for a long time, it’s become easy to distinguish good cards from bad. A good credit card will deliver in a variety of ways. Big perks, big bonuses, good rewards program, etc. A bad credit card wows you with one single feature, then takes advantage of you in every other way.
The Blue Cash Preferred® Card from American Express is a credit card I knew I always wanted. When it was first released many years ago, my credit score was in the tank (high 400s) so I had no reason to apply. After a few years of saving and working hard to restore my credit, I finally had the opportunity to own this cash back credit card. Now I use this card for every single grocery store purchase and easily save hundreds of dollars a year.
Blue Cash Preferred® Card from American Express Welcome Bonus + Cash Back Rewards Program
The Blue Cash Preferred® Card from American Express is offering a welcome bonus: Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
If you’re worried about being able to spend that amount of money, don’t be. My cable bill + grocery bill each month is well over $700. After just a few months, I would have no trouble reaching the $3,000 hurdle. Toss in gas, department stores, restaurants, and other utility bills like your phone and oil bills, and getting there should be even easier. Last but not least, don’t forget you can pay for things like health insurance, life insurance, and auto insurance with a credit card.
Cash Back Reward Tiers
Beyond the welcome offer, this credit card excels in one other major area, and that’s cash back. The Blue Cash Preferred® Card from American Express offers an amazing set of tier levels to earn cash back on everyday spending:
If the 6% cash back category stands out, it’s because this is one of the only credit cards that offers better than 5% on anything. And to have it in such a widely used category makes this card valuable to people who spend a lot of money on groceries. The other cash back amounts are also nice. I know when I don’t have a 5% gas cash back quarter available, this is the card I use at the pump.
Cash back from American Express comes in the form of membership rewards dollars and they never expire so long as your account is in good standing. Rewards dollars can be redeemed for a statement credit, check, or things like gift cards through the American Express portal. There is never any limit to the amount of cash back you can earn.
Blue Cash Preferred® Card from American Express Pricing Details
New cardholders will receive a 0% intro APR for 12 months on purchases and 12 months on balance transfers from the date of account opening. After the intro rate expires, the ongoing APR becomes 19.24% - 29.99% based on your credit history. Other interest rates and fees on the Blue Cash Preferred® Card from American Express are as follows:
- Foreign transaction fee – 2.7% of each transaction after conversion to US dollars.
- Late payment and returned payment fee – Up to $40
- Annual fee – $0 intro annual fee for the first year, then $95.
Paying an annual fee on a cash back credit card can be a bad idea if you plan to use your credit card sparingly. However, if you plan to use this card for most of your shopping and grocery purchases, the cash back earned is well worth the price of an annual fee.
Pros and Cons
Pros
- Awesome welcome offer: Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
- Up to 6% cash back: Unparalleled 6% Cash Back at U.S. Supermarkets (on up to $6,000 in purchases, 1% after)
- Cash back on gas: Great 3% Cash Back at U.S. Gas Stations
Cons
- Annual fee: $0 intro annual fee for the first year, then $95.
- Foreign Transaction Fee: 2.7% of each transaction after conversion to US dollars.
Blue Cash Preferred® Card from American Express Comparison
There is also another version of this card—the Blue Cash Everyday® Card from American Express. The rewards program is a bit smaller but the big selling point is that the card carries a $0 annual fee. Assuming the same spending patterns for a family, what kind of annual cash back savings can you expect from each card?
Blue Cash Everyday® Card from American Express
| Category | Monthly Spending | Annual Cash Back |
|---|---|---|
| Groceries (3%) | $500 | $180 |
| Gas (3%) | $400 | $144 |
| Dining Out (1%) | $250 | $30 |
| (Online) Shopping (3%) | $100 | $36 |
| Other (1%) | $1,000 | $120 |
| ANNUAL CASH BACK | $510 |
Blue Cash Preferred® Card from American Express
| Category | Monthly Spending | Annual Cash Back |
|---|---|---|
| Groceries (6%) | $500 | $360 |
| Gas (3%) | $400 | $144 |
| Dining Out (1%) | $250 | $30 |
| (Online) Shopping (1%) | $100 | $12 |
| Other (1%) | $1,000 | $120 |
| ANNUAL CASH BACK | $571 |
*Other: $1,000 (this might include big box stores, pharmacy, cell phone, cable, car repair, travel, and every other monthly expense that can be charged)
If you use the Blue Cash Preferred® Card from American Express often, it’s a better option than its no-fee counterpart. The savings at the grocery store is simply too great a feature for people who shop there regularly.
Final Thoughts
I currently own 12 credit cards. When I browse through my wallet right now, I see that only two of them have an annual fee. One is the Chase Sapphire Preferred® Card, which I have yet to pay the annual fee on. The other is the Blue Cash Preferred® Card from American Express. I despise annual fees but when you have a credit card offering a 6% cash back category year-round, you take advantage. With a family of four who spends 6-7 days and nights every week making food from home, the savings are tremendous.
Include a welcome offer, a 0% intro APR for 12 months on purchases and for 12 months on balance transfers from the date of account opening (after that an ongoing APR of 19.24% - 29.99% applies), and high cash back percentages on things like gas and at supermarkets and there’s little reason not to own the card_name.