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Amex Blue Cash Preferred Review: The Everyday Card That Packs a Punch
August 30, 2024
Introduction
For those aiming to get the most out of their everyday spending, the Blue Cash Preferred® Card from American Express stands as a premier option. This cash back card is meticulously designed for individuals who want to earn substantial cash back on daily purchases while enjoying a wealth of valuable American Express benefits. Whether it's groceries, streaming services, or gas, the Blue Cash Prefer offers a robust rewards structure that can significantly enhance your savings.
The Amex Blue Cash Preferred Card is a top choice for those seeking to maximize their cash back rewards on everyday purchases. With its impressive 6% cash back at U.S. supermarkets (up to $6,000 per year, then 1%) and on select U.S. streaming subscriptions, including the popular Disney Bundle, this American Express credit card is a standout option for families and individuals who spend heavily in these categories. The Blue Cash Preferred also offers 3% cash back at U.S. gas stations and on transit expenses, making it a valuable card for those who commute or travel frequently.
Key Features
- Annual Fee: $0 intro annual fee for the first year, then $95. See rates & fees.
- Rewards:
- 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%)
- 6% cash back on select U.S. streaming subscriptions, including the Disney Bundle
- 3% cash back at U.S. gas stations and on transit (including taxis/ride share, parking, tolls, trains, and buses)
- 1% cash back on all other purchases
- The cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or on Amazon.com at checkout
- Welcome Offer Earn a $250 statement credit after spending $3,000 in purchases within the first 6 months of card membership
- Credit Score: Good to Excellent (670-850)
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. 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.
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The Kudos Take
If you're trying to decide on a card for every day spend then you must be considering between the Amex Blue Cash Preferred Card, the Capital One Venture Rewards Credit Card, and the Blue Cash Everyday® Card from American Express. Here's an in-depth look at why the Amex Blue Cash might be the ideal choice based on its features and benefits.
Amex Blue Cash Preferred Card
- Reward Rates: This Amex credit card stands out for its unparalleled cash back rates on everyday spending categories such as supermarkets, streaming services, and gas stations. The 6% cash back at U.S. supermarkets is particularly attractive for families and individuals who spend heavily on groceries. Additionally, the 6% cash back on select U.S. streaming subscriptions, including the Disney Bundle, makes it an excellent option for entertainment enthusiasts.
- Annual Fee & Effective Cost: While there is a $95 annual fee ($0 intro annual fee for the first year, then $95), the high cash back rates can quickly offset this cost, making it a highly competitive option for those who maximize their rewards. For example, spending $500 per month on groceries at U.S. supermarkets alone could yield up to $360 in cash back annually, more than covering the annual fee.
- Special Offer: The 0% intro APR on purchases for 12 months (then 18.49% - 29.49% Variable) provides added value for those looking to finance larger purchases over time without incurring interest charges. This can be particularly beneficial for new cardholders planning significant purchases in the first year.
- Additional Benefits: The Amex Blue Cash Preferred also offers purchase protection, extended warranty, and return protection, adding further value for cardholders. These American Express benefits can provide peace of mind when making purchases, knowing that there is a layer of protection against damage or theft. See rates and fees.
Capital One Venture Rewards Credit Card
- Reward Rates: The Capital One Venture Rewards Card offers 2X miles on every purchase, making it a straightforward option for those who prefer simplicity in earning rewards. This flat-rate rewards structure is easy to understand and apply, regardless of spending categories.
- Annual Fee & Perks: With an annual fee of $95, the card also includes travel benefits like up to a $120 credit for Global Entry or TSA PreCheck® and travel accident insurance. These travel perks can be particularly appealing to frequent travelers who value convenience and security (see rates & fees).
- Travel Flexibility: The miles can be redeemed for travel throughCapital One Travel or transferred to over 15 travel loyalty programs, offering flexibility for travelers. This versatility in redemption options allows cardholders to maximize their rewards based on their travel preferences and needs.
Blue Cash Everyday Card from American Express
- Reward Rates: Offers 3% on groceries at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 3% cash back at U.S. gas stations up to $6,000 per year (then 1%), 3% on U.S. online retail purchases, on up to $6,000 per year in purchases (then 1%), and 1% cash back on all other eligible purchases. While these rates are lower compared to the Blue Cash Preferred, they still provide solid rewards for everyday spending.
- The cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or on Amazon.com at checkout
- Annual Fee: No annual fee (see rates & fees), making it an attractive option for those who prefer to avoid extra costs. This can be particularly appealing to individuals who are new to rewards credit cards or those who prefer to keep their credit card costs low.
- Special Offer: Includes a similar 0% intro APR on purchases for 15 months, then a variable APR of 18.49% - 29.49%. This extended intro APR period can be beneficial for those looking to manage their cash flow or finance larger purchases over a longer period.
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The Final Verdict
The Amex Blue Cash Preferred Card stands out for its exceptional cash back rates on everyday spending categories, making it a great choice for those who spend heavily on groceries, streaming services, and gas. The $0 intro annual fee the first year and the potential to quickly offset the ongoing fee through rewards make it a strong contender. Its additional American Express benefits and intro APR offer further enhance its value, particularly for families and individuals looking to maximize their cash back earnings.
The Blue Cash Preferred from American Express is a top-tier cash back credit card that offers unmatched rewards on everyday spending. Its 6% cash back at U.S. supermarkets (up to $6,000 per year, then 1%) is among the highest in the industry, making it an excellent choice for families and individuals who spend a significant portion of their budget on groceries. The card's 6% cash back on select U.S. streaming subscriptions, including the popular Disney Bundle, further enhances its appeal for those who enjoy entertainment services like Disney+, Hulu, and ESPN+.
With 3% cash back at U.S. gas stations and on transit expenses, the Amex Blue Cash Preferred Card also provides valuable rewards for those who commute or travel frequently. The card's generous welcome offer of a $250 statement credit after meeting the spending requirement, along with its 0% intro APR on purchases for 12 months (then 18.49% to 29.49% Variable), add even more value for new cardholders.
The Amex Blue Cash is Ideal for Individuals Who:
- Spend heavily on groceries and streaming subscriptions
- Value high cash back rates on everyday purchases
- Are willing to pay an annual fee for significant value back in rewards
- Prefer additional cardholder benefits such as purchase protection and extended warranty
Who Might Want to Look Elsewhere:
- Those who prefer travel rewards over cash back: If you travel frequently and prefer earning travel rewards, the Capital One Venture Rewards Credit Card might be a better fit with its 2X miles on all purchases and flexible redemption options.
- Individuals looking for a no annual fee card: If avoiding an annual fee is a priority, the Blue Cash Everyday Card from American Express offers solid rewards without the cost.
- People who do not spend significantly in the card's bonus categories: If your spending does not align with the high-reward categories of the Blue Cash Preferred, you might not maximize its potential benefits.
Key Benefits
- Purchase Protection: Coverage for eligible purchases against damage or theft, providing peace of mind for up to 90 days from the date of purchase.
- Extended Warranty: Extends the manufacturer's warranty on eligible purchases, doubling the warranty period for up to an additional year.
- Return Protection: Refund for eligible purchases if the retailer won't take them back, up to 90 days from the date of purchase.
- No Foreign Transaction Fee: Make international purchases without worrying about extra charges, a valuable feature for those who travel abroad.
- 0% Intro APR: 0% introductory APR on purchases for 12 months, then a variable APR (see rates & fees), allowing for interest-free financing of larger purchases within the first year.
Bottom Line
The Amex Blue Cash Preferred Card excels for individuals and families seeking to maximize their cash back on everyday purchases. Its superior earn rates on groceries, streaming services, and gas stations, combined with a generous welcome offer and intro APR offer, provide tangible value that can offset the annual fee. Compared to the Capital One Venture Rewards Credit Card and the Blue Cash Everyday Card from American Express, the Amex Blue Cash Preferred offers a competitive edge with its high cash back rates and additional cardholder benefits, making it a standout choice for those looking to get the most out of their everyday spending.
Whether you're a frequent grocery shopper, a streaming service enthusiast, or someone who spends a lot on gas and transit, the Amex Blue Cash Preferred Card provides a rewards structure that aligns with everyday life. Its blend of high cash back rates, valuable American Express benefits, and manageable annual fee makes it an excellent choice for maximizing your spending power and enhancing your financial flexibility.
In conclusion, the American Express Blue Cash Preferred Card is a top-tier cash back credit card that offers unparalleled rewards on everyday spending categories. With its impressive 6% cash back at U.S. supermarkets and on select streaming services, 3% cash back at U.S. gas stations and on transit, and a range of valuable American Express benefits, this card is an excellent choice for those looking to maximize their cash back earnings.
FAQ: Amex Blue Cash Preferred
- Is Amex Blue Cash Preferred hard to get? Yes, the Amex Blue Cash Preferred card can be challenging to obtain. It generally requires a credit score of 700 or higher, which means applicants need good to excellent credit. Additionally, factors such as steady income and overall financial health are considered during the approval process.
- Is the Amex Blue Cash Card worth it? The Amex Blue Cash Preferred card is worth it for individuals and families who spend significantly in its high-reward categories. It offers 6% cash back at U.S. supermarkets (up to $6,000 annually), 6% on select streaming services, 3% on transit and gas stations, and 1% on other purchases. The annual fee is $0 for the first year, then $95, which can be offset by its generous cash back rewards.
- Does the Amex Blue Cash Preferred have lounge access? No, the Amex Blue Cash Preferred card does not offer lounge access. This benefit is typically reserved for higher-tier cards, such as those in the Platinum or Centurion ranges.
- What is the income requirement for Amex Blue Cash Preferred? While American Express does not disclose a specific income requirement for the Blue Cash Preferred card, a steady and sufficient income that supports the applicant’s ability to manage their credit responsibly is necessary. This, combined with a good credit score, increases the chances of approval.
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