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You are here: Home / Credit Cards / Chase Sapphire Preferred® Card vs. Blue Cash Preferred® Card from American Express

Chase Sapphire Preferred® Card vs. Blue Cash Preferred® Card from American Express

January 26, 2023 by Gail Kellner

The Chase Sapphire Preferred® Card and the Blue Cash Preferred® Card from American Express are both excellent rewards credit cards. The Sapphire Preferred card is geared towards frequent travelers, whereas the Blue Cash Preferred card offers rewards on everyday purchases. Which one should you go for? Or should you apply for both?

Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card

Overall Rating

4.9

Welcome Offer

60000 Points (terms apply)

Rewards Range

1x - 5x points

Annual Fee

$95

Regular APR (V)

20.49% - 27.49%

0% Into APR on Purchases

None

0% Intro APR on Transfers

None

Foreign Transaction Fee

None

Read Review
Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express

Overall Rating

4.5

Welcome Offer

$250 (terms apply)

Rewards Range

1%-6%

Annual Fee

$95

Regular APR (V)

18.49% - 29.49%

0% Into APR on Purchases

12 months, then a variable rate

0% Intro APR on Transfers

None

Foreign Transaction Fee

2.7% of each transaction after conversion to US dollars.

Read Review

Welcome Bonus

Chase Sapphire Preferred® Card offers 60,000 bonus points when you spend $4,000 in the first 3 months. These points are worth $750 if you redeem them for travel through the Chase Ultimate Rewards portal, and they could be worth even more if you transfer them to Chase's travel partners.

The Blue Cash Preferred® Card from American Express currently offers $250 cash back when you spend $3,000 in the first 6 months of card membership.

You can get a more lucrative welcome bonus with the Chase Sapphire Preferred, but you only have three months to earn the bonus. You get a smaller cash back bonus with Blue Cash Preferred, but it allows you a leisurely six months to earn it. Still, the Chase bonus is worth more, so the Sapphire Preferred wins this round.

Cash Back Rewards

Chase Sapphire Preferred® Card offers excellent rewards for the globe-trotting consumer–or even for someone who only travels a few times a year. Not only do you get 5x points on travel when purchased through Chase Ultimate Rewards, you also get 3x points on groceries, dining, and select streaming services. You also get a $50 annual hotel credit. Chase Ultimate Rewards points are highly sought after because of their value and their flexibility. You also get a 10% anniversary boost on your points, so if you've spend $10,000 on purchases, you can an additional 1,000 reward points.

Blue Cash Preferred® Card from American Express offers excellent rewards on everyday purchases. You get an industry-leading 6% cash back on groceries (up to $6,000 a year), 6% cash back on select streaming, and 3% on gas. Many families spend a good chunk of money at the grocery store, which makes this card a great deal for them.

Here are the details for each card:

Chase Sapphire Preferred® Card 

Rewards:  

5x points
Travel
5x points on travel purchased through Chase Ultimate Rewards.
3x points
U.S. supermarkets
Earn 3x points on online grocery purchases (excluding Target, Walmart and wholesale clubs).
3x points
Streaming services
Earn 3x points on select streaming services.
3x points
Dining
3x points on dining, including eligible delivery services, takeout and dining out.
2x points
Travel
2x points on travel not booked through Chase Ultimate Rewards, such as airfare, hotels, taxes and trains.
1x points
On all other purchases
1x points on all other purchases.

Blue Cash Preferred® Card from American Express

Rewards:

6% cash back
U.S. supermarkets
6% cash back on groceries up to $6,000 per year in purchases at U.S. supermarkets, then 1%
6% cash back
Streaming services
6% cash back on select U.S. streaming subscriptions
3% cash back
Gas
3% cash back at U.S. gas stations
3% cash back
Transit
3% cash back on transit, such as taxis, rideshare, parking, tolls, trains and buses
1% cash back
On all other purchases
1% cash back on all other eligible purchases

Rates and Fees

Blue Cash Preferred® Card from American Express has a 0% introductory APR offer for the first 12 months. After that, your rate will be 18.49% - 29.49% variable, depending on creditworthiness.

Chase Sapphire Preferred® Card is not offering an introductory rate at this time. Your rate will be 20.49% - 27.49% variable, depending on your creditworthiness.

Both cards have the same annual fee of $95, but for the Blue Cash Preferred® Card from American Express, the annual fee is waived for the first year. On the other hand, this card has a foreign transaction fee of 2.7% of each transaction after conversion to US dollars., while the Chase card has no foreign transaction fee. The Chase card is better for traveling, internationally and otherwise.

Who the Chase Sapphire Preferred® Card is Best For

People who travel, even as little as twice a year, will be very happy with this card. In addition to the generous welcome bonus and travel rewards, excellent travel benefits are included. Trip cancellation/trip interruption insurance, auto collision damage waiver, and baggage delay insurance offer peace of mind when traveling. Chase Ultimate Rewards can be extremely valuable, depending on how you redeem them. If you redeem them directly through Chase, points are worth 1.25 cents each, but you can earn more if you transfer them to Chase's travel partners.

More frequent travelers might want to consider the Chase Sapphire Reserve®. Points are worth more, and you get a bigger welcome bonus. The annual fee is high, but you also get premium travel benefits, including airport lounge access, and you can get a $300 travel credit, which covers more than half of the annual fee.

Who the Blue Cash Preferred® Card from American Express is Best For

Blue Cash Preferred® Card from American Express offers excellent rewards, especially at the grocery store and on select streaming. If you've noticed that your grocery bill is much higher than usual, you can use this card and effectively get a 6% discount (up to $6,000 a year). You might spend more than $500 on groceries each month, but it's also difficult to find a credit card that offers higher rewards on groceries. Anyone who values cash back rewards on everyday purchases will find this a great addition to their wallets.

If you don't want to pay an annual fee but still want elevated cash back rewards on everyday purchases, consider the Blue Cash Everyday® Card from American Express. This is a great card offering 3% cash back on groceries, online purchases, and gas.

Does it make sense to get both cards?

Yes, it does. Anyone who travels at all will appreciate the benefits of the Chase Sapphire Preferred® Card when they're on the road. Then they can use the cash back rewards of the Blue Cash Preferred® Card from American Express card when shopping at home. You can easily justify both annual fees.

Approval Odds

The credit score data provided for the cards listed below comes from publicly available information in a number of forums. The accuracy of the information cannot be verified. Keep in mind that credit card issuers consider more than an applicant’s credit score and that underwriting standards change over time.

Chase Sapphire Preferred® Card 

App StatusDateCredit ScoreBureauCredit Limit
Approved03/23/2022
750
Equifax
$22,000
Approved03/23/2022
770
Experian
$22,000
Approved09/21/2022
788
Experian
$12,900
Approved05/28/2022
740
Not Provided
$18,400
Approved06/26/2022
729
Equifax
$14,000
Approved06/26/2022
725
Experian
$14,000
Approved06/26/2022
737
TransUnion
$14,000
Approved07/06/2022
786
Experian
$16,600
Approved09/21/2022
743
Equifax
$12,900
Approved12/04/2022
770
Experian
$12,000
Denied08/07/2022
720
Not Provided
---

Blue Cash Preferred® Card from American Express 

App StatusDateCredit ScoreBureauCredit Limit
Approved05/17/2021
675
Experian
$2,000
Approved04/09/2022
780
Experian
$6,000
Approved04/09/2022
787
TransUnion
$6,000
Approved12/17/2021
680
Experian
$1,000
Approved12/17/2021
692
TransUnion
$1,000
Approved03/20/2022
673
Experian
$1,000
Approved07/21/2021
681
Experian
$1,000

American Express seems more willing to consider lower credit scores than Chase (although your credit limit might not be very high). If your credit score is in the mid-700's and you really want both cards, apply for the Sapphire Preferred card first to make sure you're not violating Chase's 5/24 rule, and then apply for the Blue Cash Preferred.

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Rob Berger founded allcards.com in 2008 to help consumers make data-driven decisions about credit cards and banking. A retired trial attorney, he’s written about credit cards, banking and personal finance since 2007, and is the author of Retire Before Mom and Dad.

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