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Blue Cash Preferred® Card from American Express

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Blue Cash Preferred® Card from American Express

08/20/24 04:53 pm

Wondering how you can maximize your spending while earning cash back? The Blue Cash Preferred® Card from American Express might just be your new best friend in the world of finance.

 

Overview of Blue Cash Preferred® Card from American Express

Discover the many features that make the Blue Cash Preferred® Card from American Express a top choice for savvy spenders. Here’s a quick snapshot:

  • Intro Offer: Earn a $250 statement credit after spending $3,000 in the first 6 months.

  • Cash Back Rewards: 6% cash back at U.S. supermarkets (up to $6,000/year, then 1%) and on select U.S. streaming services. 3% cash back on transit and at U.S. gas stations. 1% cash back on all other purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.

  • Annual Fee: $0 intro fee for the first year, then $95. See rates and fees.

  • Intro APR: 0% on purchases and balance transfers for 12 months. Then, variable APR of 18.74% - 29.74%.

 

Pros and Cons of Blue Cash Preferred® Card from American Express

Let’s break down the benefits and drawbacks of the Blue Cash Preferred® Card from American Express to see if it's the right fit for you.

Pros:

  • High Rewards Rate: Earn up to 6% cash back on essential services and goods.

  • Diverse Bonus Categories: From groceries to streaming to transit and gas, get more from your everyday purchases.

  • Additional Perks: Get statement credits for services like the Disney Bundle.

  • Amex Reliability: Benefit from American Express’s comprehensive customer protection and service.*

Cons:

  • Annual Fee: After the first year, a $95 fee applies. See rates and fees.

  • Credit Requirements: This card requires good to excellent credit for approval.

  • Reward Limitations: Earn 6% cash back on grocery purchases up to $6,000 annually, after which the rate drops to 1%.

  • High Regular APR: Post-introductory period, the APR could be as high as 29.74%.

 

Everything Blue Cash Preferred® Card from American Express Can Do For You

Whether you’re filling up the tank or streaming your favorite shows, the Blue Cash Preferred® Card from American Express helps you get more out of your purchases. Here are some real-world benefits:

  • Grocery Shopping: Earn 6% back at U.S. supermarkets on up to $6,000 per year, which means saving up to $360 annually, then earn 1% after the cap is reached.

  • Streaming Services: Your Netflix, Hulu, or Spotify subscription earns you 6% back, enhancing your home entertainment without extra cost.

  • Travel and Commute: Earn 3% back on expenses like gas, parking, and transit, easing the cost of your daily commute or road trip adventures.

  • Other Shopping: Use the card for your diverse shopping needs and get 1% back on other purchases, making your spending go further.

 

Unique Benefits of Blue Cash Preferred® Card from American Express

Delve into the special features that set the Blue Cash Preferred® Card from American Express apart from the crowd.

 

Comprehensive Cash Back Categories:

From groceries to gas, the extensive range of cash back categories means that almost every aspect of your spending is covered. This isn't just a card; it's a financial tool tailored to the rhythms of everyday life.

 

Disney Bundle Credit:

Not only do you earn 6% cash back on streaming services like Netflix and Hulu, but you also receive a monthly credit for the Disney Bundle. Get $7 back each month when you spend $9.99 or more on this subscription, making your entertainment choices even more rewarding.

 

Flexible Payment Options:

With features like Pay It Plan It®, managing your finances becomes simpler and more intuitive, allowing you to spread out large purchases or quickly pay off small ones without disrupting your budget.

 

Shopping Convenience and Return Protection:

Additionally, enjoy a complimentary ShopRunner membership, which provides free 2-day shipping and free returns on eligible items at over 100 online stores, making your online shopping experience faster and more convenient.

Plus, bought something that didn’t quite click? The Blue Cash Preferred® Card from American Express includes Return Protection, allowing you to return purchases directly to American Express if the seller won’t accept them, up to 90 days post-purchase. Get refunded up to $300 per item, with a yearly limit of $1,000 per card account.*

 

Car Rental Loss and Damage Insurance:

Travel with less worry with the Blue Cash Preferred® Card from American Express. Use it to book and pay for your entire rental car, decline the rental company’s collision waiver, and you’re covered. This benefit offers secondary coverage against damage or theft of a rental vehicle, keeping your road trips on the fun side. Note: Coverage excludes cars rented in Australia, Italy, and New Zealand, and does not include liability insurance.*

 

Things to Look Out For

While the Blue Cash Preferred® Card from American Express offers many advantages, it’s not for everyone. Consider these factors:

  • High Annual Fee Post-First Year: The annual fee might outweigh the benefits if you’re not a heavy spender in the card’s bonus categories.

  • Spending Caps on Rewards: The cap on the 6% cash back category means the highest earners will see reduced benefits beyond a certain spend.

 

Conclusion

The Blue Cash Preferred® Card from American Express is an exceptional tool for families and individuals looking to maximize their everyday spending. With generous cash back rates, especially in categories like groceries and streaming, it offers significant potential savings. However, assessing your spending habits against the annual fee is important to ensure it’s a cost-effective choice for your wallet. 

 

Interested in making every dollar work harder for you? Learn more about how the Blue Cash Preferred® Card from American Express can enhance your financial life.

 

Not interested in a card with an annual fee? Make sure to check out the Blue Cash Everyday® Card from American Express or read our full write-up to see if that card is right for you.

 

*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.
Disclaimer: Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. 
Opinions, reviews, analyses & recommendations are the author’s alone and have not been reviewed, endorsed or approved by any of these entities.



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