The Blue Cash Preferred® Card from American Express is known as one of the highest paying cash back cards available. It offers up to 6% cash back and a 0% introductory APR on purchases and balance transfers for 12 months.
American Express is perhaps best known for its travel rewards–“Don’t leave home without it.” But with the Blue Cash Preferred® Card from American Express, it also offers a top notch cash rewards cards. The card has a tiered reward system ranging from one to six percent. It also has a cash bonus for new card members and a 0% introductory APR offer.
Learn more about this and other cash back credit cards and apply online at CardRatings.com.
Blue Cash Preferred® Card from American Express Snapshot
- Welcome Offer: Earn $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
- Earn Cash Back: 6% U.S. supermarkets up to $6,000 per year in purchases (then 1%), 3% U.S. gas stations, and 1% other purchases. Terms and limitations apply.
- NEW 6% Cash Back on select U.S. streaming subscriptions including Spotify, Netflix, Hulu, HBO, ShowTime, Pandora, Apple Music, Amazon Music or Video (Does not include Prime membership).
- NEW 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more.
- With the Blue Cash Preferred® Card, you can start earning cash back. No rotating reward categories. No enrollment required.
- Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. Cash back is earned only on eligible purchases.
- 0% intro APR on purchases and balance transfers for 12 months, then a variable rate based on your creditworthiness and other factors.
- Annual Fee: $95
- Terms Apply
Cash Back Rewards Program
There are four components of the rewards program: (1) the $250 bonus; (2) 6% cash back; (3) 3% cash back; and (4) 1% cash back.
- $200 Bonus: Spend just $1,000 on the card in the first 3 months and you’ll pocket a $250 cash bonus in the form of a statement credit.
- 6% Cash Back: For rewards, you earn 6% U.S. supermarkets up to $6,000 per year in purchases (then 1%). This is one of the highest cash back rewards available from any card.
- 3% Cash Back: You’ll earn 3% at U.S gas stations.
- 1% Cash Back: On all other purchases.
Now it’s not all good news when it comes to the Blue Cash Preferred® Card from American Express. There is a $95 annual fee that is NOT waived for the first year. This means the initial $250 statement credit bonus is cut by the annual fee. But when you take into account the high % cash back savings in a variety of categories, big spenders will love this card long-term.
For example, I used this card exclusively at the pump and at the grocery store. I am the father in a family of four (only three eating solid food at the moment) and our grocery bill is a solid $450 every month. My wife and I work from home, and with little children rarely eat out (once or twice a month if that) so nearly all of our meals occur within these four walls. Spending $5,500 a year on groceries, we save $330 a year just on this one expenditure line.
Had we been using a very good 2% cash back credit card, that savings would only be $110, meaning were $220 to the positive. Tack on the savings from 3% gas purchases, the initial $250 bonus and the perks that American Express can provide; the Blue Cash Preferred® Card from American Express is an easy addition to our wallets.
Learn more about this and other cash back credit cards and apply online at CardRatings.com.
Blue Cash Preferred® Card from American Express
Pros
- Cash back rewards
- Signup bonus
- Added perks
Cons
- Annual fee
