The post Amex Blue Cash Preferred Card Review appeared first on Club Thrifty.
The Blue Cash Preferred® Card from American Express has been considered one of the best cash back credit cards for a long time. Offering huge cash back rewards on groceries, gas, and streaming services, it isn’t hard to see why.
Earning 6% cash back on the first $6,000 in annual U.S. supermarket purchases isn’t the only thing to like. This card also earns 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations, 3% cash back on transit costs (like rideshare apps, trains, taxis, and more), and an unlimited 1% cash back on everything else. Keep in mind, cash back is issued in “Rewards Dollars” which can be redeemed as statement credits. Terms apply.
The Amex Blue Cash Preferred Card’s welcome offer may be more difficult to earn than welcome offers on other cash back credit cards, it is still pretty nice. You’ll earn a nice $300 statement credit after making $3,000 in purchases during the first 6 months you have the card.
Want to know more? Let’s dive in and see if this is the right cash back card for you!
Table of Contents
Amex Blue Cash Preferred Card Highlights
Where It Shines
Things You Might Not Like About the Card
Who Should Consider the Blue Cash Preferred
Who Should Avoid This Card
Alternatives to the Amex Blue Cash Preferred
Chase Freedom Flex
Capital One Quicksilver Cash Rewards Credit Card
Amex Blue Cash Preferred Review: Final Thoughts
Amex Blue Cash Preferred Card Highlights
If you love earning cash back, you’re going to love this card. Here’s why:
Welcome Offer: Earn $300 in statement credits after spending $3,000 in the first 6 months you have the card.
6% cash back at U.S. supermarkets on first $6,000 you spend annually (then earn 1% cash back)
6% cash back on select U.S. streaming subscriptions
3% cash back at U.S. gas stations
3% cash back on transit (includes rideshare, taxis, parking, tolls, trains, buses, and more)
1% cash back on all other purchases
Cash back can be redeemed as a statement credit
0% APR on purchases for 12 months after account opening, 13.99% - 23.99% variable APR after that (See rates and fees)
Terms apply
Annual Fee: $0 for first year; $95 after that (See rates and fees)
Learn how to apply here
Where It Shines
The Amex Blue Cash Preferred Card is easily one of the top cash back credit cards on the market. Offering huge cash back bonuses on spending in certain categories, including groceries and gas, makes this a card nearly everybody should consider.
The card’s biggest draw is the 6% cash back it earns at U.S. supermarkets. That is huge, and it is the largest percentage of cash back offered on grocery spending by any card that we recommend.
Of course, the 6% cash back earning rate is capped at the first $6,000 you spend annually. However, that means the bonus tops out at $360 a year – but you can still earn 1% cash back on your spending above the $6,000 annual limit.
Additionally, the Amex Blue Cash Preferred earns 6% cash back on select U.S. streaming services like Netflix, Hulu, Disney+, and many more. Purchases at U.S. gas stations earn 3% cash back while certain transit expenses (like rideshare, taxi, parking, and train expenses) also earn 3% cash back. All other purchases earn 1% cash back.
Rather than getting a check in the mail, the cash back you earn is received as Rewards Dollars. These rewards are added to your account, and you can redeem them as statement credits.
The Blue Cash Preferred Card also doubles as a nice 0% APR card. You’ll enjoy the introductory 0% APR on purchases for the first 12 months you have the card. After that, the rate adjusts to a 13.99% - 23.99% variable APR.
This card’s annual fee is also waived for the first year, so it won’t cost you anything to try it out. After that, it costs just $95 per year to keep your account open.
Terms apply.
Things You Might Not Like About the Card
There isn’t much to dislike about the Amex Blue Cash Preferred. Still, no card is perfect for everybody.
One of the card’s biggest drawbacks is also one of its highlights – the welcome bonus. New cardmembers can earn a nice $300 welcome bonus, but it comes with a catch. To earn the bonus, members must spend $3,000 in the first six months their account is open. Yikes.
That type of minimum spending requirement is typical for the top travel rewards cards (like the Platinum Card® from American Express), but it is considerably higher than most cash back cards. Additionally, travel rewards cards usually offer a larger bonus for meeting those large minimum spending requirements. So, although the Blue Cash Preferred’s welcome bonus is slightly higher than many cash back cards, it also costs considerably more to earn.
Additionally, the annual fee on Amex Blue Cash Preferred is higher than many of its competitors. Sure, the fee is waived for the first year, but it adjusts to $95 after that.
Many of the top cash back cards never charge an annual fee, so they cost nothing to carry. With that said, most don’t offer the amount of cash back offered through the Blue Cash Preferred either – especially at supermarkets and gas stations – so it is a trade off.
Terms apply.
Who Should Consider the Blue Cash Preferred
Grocery shoppers – If you spend a lot of money at U.S. supermarkets, the Amex Blue Cash Preferred may be a great card for you.
Commuters – Those who commute to work can get a lot of benefit out of this card. You’ll earn 3% cash back on purchases at U.S. gas stations and on transit costs like parking, rideshare costs, trains, taxis, buses, and more. Terms apply.
Heavy streamers – The Amex Blue Cash Preferred is a great card for those who stream a lot of TV, movies, and music. It earns 3% cash back on dozens of select U.S. streaming subscriptions like Netflix, Prime Video, Hulu, and many more. Terms apply.
>> Amex Blue Cash Preferred: Learn How to Apply
Who Should Avoid This Card
Heavy travelers – The Amex Blue Cash Preferred is an excellent cash back card, but it doesn’t provide much in the way of travel benefits. If you love to travel, find a good travel rewards card instead.
Fee averse – The annual fee on the Blue Cash Preferred is $95, although it is waived for the first year. With that said, there are plenty of good cash back cards that do not charge an annual fee.
Alternatives to the Amex Blue Cash Preferred
Chase Freedom Flex
If you’re looking for an alternative to the Amex Blue Cash Preferred card, look no further than the Chase Freedom Flex.
The Chase Freedom Flex offers 5% cash back on the first $1,500 of combined spending in categories that rotate each quarter. In the past, rotating categories have included things like grocery stores, gas stations, and streaming services.
This card also earns 5% cash back on the first $12,000 you spend on grocery store purchases during the first year you and have it (excludes Walmart and Target). Additionally, you’ll earn an unlimited 5% cash back on travel booked through Chase, 3% cash back at restaurants and drugstores, and 1% cash back on other purchases.
Last but not least, this card offers a $200 welcome bonus when you spend just $500 during the first 3 months you have the card. There is no annual fee.
Learn how to apply | Read the full review
Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card is another solid alternative to the Amex Blue Cash Preferred. This card let’s you avoid the hassle of bonus categories and instead offers a flat 1.5% cash back on all purchases.
With the Capital One Quicksilver, you can also earn a $200 welcome bonus for spending $500 during the first 3 months you have the card. You’ll also enjoy an introductory 0% APR on purchases during the first 15 months after opening the account (14.99%-24.99% variable APR after that).
Learn how to apply | Read the full review
Amex Blue Cash Preferred Review: Final Thoughts
The Amex Blue Cash Preferred Card is an excellent cash back credit card that deserves your consideration.
Earning 6% cash back at U.S. supermarkets is fantastic, even with the bonus cash back being capped at $6,000 in annual spending. The 3% cash back at U.S. gas stations and on select transit costs makes it a great card for those who commute, while the 6% cash back on streaming services and the welcome bonus are also nice perks.
Remember, cash back can be redeemed for statement credit and terms apply.
Learn how to apply here >>
To see rates and fees for the American Express cards featured, please use the following links: Blue Cash Preferred Card from American Express: See Rates and Fees; Platinum Card from American Express: See Rates and Fees.
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