Blue Cash Preferred® Card from American Express Review
Apply for a Blue Cash Preferred® Card from American Express
Rating:
Bottom Line:
6% cash back at U.S. supermarkets on up to $6K in purchases; $150 intro bonus; Terms apply.
Full Review:
The Blue Cash Preferred® Card from American Express (a NextAdvisor advertiser) is a real cash-back money maker and the winner of our Credit Card Cash Back Analysis, earning users 6% cash back at U.S. supermarkets (on up to $6,000 in purchases annually, then 1%), 3% at U.S. gas stations and select U.S. department stores as well as 1% on everything else. On top of all these ongoing cash back rewards, you'll get a $150 cash back bonus after spending $1,000 in the first 3 months.
First off, you'll get a sweet $150 cash back bonus after spending $1,000 on the card in the first 3 months. And it offers great everyday cash back too, as you'll get 6% back at supermarkets - the highest ongoing cash back rate we've seen, making the Blue Cash Preferred® Card from American Express a terrific choice for anyone who spends a significant amount on groceries. Additionally, commuters and others can take advantage of the generous 3% on gas (no spending cap), and shoppers everywhere will appreciate 3% back (no cap) at select department stores like JCP, Kohls, Macys, Sears and Nordstrom. All other purchases will earn a standard 1% cash back with no cap.
The Blue Cash Preferred® Card from American Express does have a $95 annual fee, but if you have the spending habits of most people you'll more than earn it back each year (to find out for sure use our free Cash Back Credit Card Calculator). For example, if you spent the maximum amount of $6,000 each year at supermarkets (or $500/month, pretty easy for families to do), you'd get $360 cash back annually just on the groceries you already shop for. If you subtract the annual fee, that's still $265 in cash back each year, and that doesn't include the $150 intro bonus or all the other potential cash back you'd get on gas and other purchases. Or, if you'd prefer a card with no annual fee, consider its sister card the no-fee Blue Cash Everyday Card from American Express, which offers similar cash back rewards, a 0% intro APR and a $100 cash back bonus. However, if you spend the same $500 per month at supermarkets with Blue Cash Everyday you'll only earn $180 cash back each year, as opposed to $360 each year with Blue Cash Preferred, so your choice depends on your individual spending patterns.
The Blue Cash Preferred® Card from American Express' 12-month 0% introductory APR on purchases and balance transfers is great way to save money on interest fees for over a year. With this no-interest APR you can make purchases now and pay absolutely zero interest for 12 months. You can also transfer your balances from other high-APR cards to this one, taking advantage of the 0% APR to pay down your balance and save some money on interest fees. There is a 3% balance transfer fee (or $5, whichever is higher), but depending on how much interest you're currently paying and how much it might cost you to transfer your balance to this card it could be worth it.
The Blue Cash Preferred® Card from American Express also offers purchase protection, return protection and extended warranty. Purchase protection protects items you buy with the card from accidental damage or theft for up to 90 days. Return protection is a safeguard against merchants not accepting a return within 90 days of purchase - if this happens, American Express may refund the full purchase price up to $300 per time ($1,000 max annually). Extended warranty means the terms of the original manufacturers warranty can be extended up to a year, giving you additional peace of mind.
In sum, the Blue Cash Preferred® Card from American Express is a terrific cash back card with a great $150 cash back bonus, generous ongoing rewards, and a lengthy 0% intro APR on balance transfers and purchases. It will particularly appeal to those who spend more on groceries, gas and department stores.
Highlights From American Express
Rewards
Redeem Rewards
Fees and APR
First off, you'll get a sweet $150 cash back bonus after spending $1,000 on the card in the first 3 months. And it offers great everyday cash back too, as you'll get 6% back at supermarkets - the highest ongoing cash back rate we've seen, making the Blue Cash Preferred® Card from American Express a terrific choice for anyone who spends a significant amount on groceries. Additionally, commuters and others can take advantage of the generous 3% on gas (no spending cap), and shoppers everywhere will appreciate 3% back (no cap) at select department stores like JCP, Kohls, Macys, Sears and Nordstrom. All other purchases will earn a standard 1% cash back with no cap.
The Blue Cash Preferred® Card from American Express does have a $95 annual fee, but if you have the spending habits of most people you'll more than earn it back each year (to find out for sure use our free Cash Back Credit Card Calculator). For example, if you spent the maximum amount of $6,000 each year at supermarkets (or $500/month, pretty easy for families to do), you'd get $360 cash back annually just on the groceries you already shop for. If you subtract the annual fee, that's still $265 in cash back each year, and that doesn't include the $150 intro bonus or all the other potential cash back you'd get on gas and other purchases. Or, if you'd prefer a card with no annual fee, consider its sister card the no-fee Blue Cash Everyday Card from American Express, which offers similar cash back rewards, a 0% intro APR and a $100 cash back bonus. However, if you spend the same $500 per month at supermarkets with Blue Cash Everyday you'll only earn $180 cash back each year, as opposed to $360 each year with Blue Cash Preferred, so your choice depends on your individual spending patterns.
The Blue Cash Preferred® Card from American Express' 12-month 0% introductory APR on purchases and balance transfers is great way to save money on interest fees for over a year. With this no-interest APR you can make purchases now and pay absolutely zero interest for 12 months. You can also transfer your balances from other high-APR cards to this one, taking advantage of the 0% APR to pay down your balance and save some money on interest fees. There is a 3% balance transfer fee (or $5, whichever is higher), but depending on how much interest you're currently paying and how much it might cost you to transfer your balance to this card it could be worth it.
The Blue Cash Preferred® Card from American Express also offers purchase protection, return protection and extended warranty. Purchase protection protects items you buy with the card from accidental damage or theft for up to 90 days. Return protection is a safeguard against merchants not accepting a return within 90 days of purchase - if this happens, American Express may refund the full purchase price up to $300 per time ($1,000 max annually). Extended warranty means the terms of the original manufacturers warranty can be extended up to a year, giving you additional peace of mind.
In sum, the Blue Cash Preferred® Card from American Express is a terrific cash back card with a great $150 cash back bonus, generous ongoing rewards, and a lengthy 0% intro APR on balance transfers and purchases. It will particularly appeal to those who spend more on groceries, gas and department stores.
Highlights From American Express
- $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
- 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) – that means spending $60 a week at U.S. supermarkets could earn over $180 back per year.
- 3% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
- Low intro APR: 0% for 12 months on purchases and balance transfers, then a variable rate, currently 13.99% to 24.99%.
- Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express® Cards in the last year.
- $95 annual fee.
- Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
- Terms Apply.
Rewards
- Get $150 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive $150 back in the form of a statement credit
- Earn 6% cash back at U.S. supermarkets (excluding superstores and warehouse clubs) up to $6,000. After the first $6,000 of purchases in a calendar year users will earn 1% cash back.
- Earn 3% at U.S. gas stations and select U.S. department stores with no spending cap.
- Earn 1% on all other eligible purchases with no spending cap.
Redeem Rewards
- Redeem reward dollars for statement credits in increments of $25 whenever your total available reward dollar balance is $25 or more.
- Minimum redemption is 25 reward dollars.
Fees and APR
- Annual Fee: $95
- Purchase APR: 0% on Purchases for 12 months, then 13.99%-24.99% Variable, based on creditworthiness .
- Balance Transfer APR: 0% on Balance Transfers for 12 months, then 13.99%-24.99% Variable, based on creditworthiness.
- Balance Transfer Fee: Either $5 or 3% of the amount of each transfer, whichever is greater.
- Foreign Transaction Fee: 2.7% of each transaction after conversion to US dollars.
- Late Payment Fee: Up to $38
- Cash Advance Fee: Either $5 or 3% of the amount of each cash advance, whichever is greater.
- APR for Cash Advances: 26.24%
- Penalty APR: 29.99%
- Returned Payment Fee: Up to $38.
Apply for a Blue Cash Preferred® Card from American Express
This content is not provided or commissioned by the company whose products are featured on this site ("Advertiser"). Any opinions, analyses, reviews or evaluations provided here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Advertiser. This site may be compensated through the Advertiser's affiliate programs.
Card Details
| Features: | Earn 6% cash back at US supermarkets (up to $6K), 3% back on US gas & select US dept stores; 1% back on other purchases. $150 intro bonus after spending $1K in first 3 mos. Terms apply. |
| Purchase APR: | 0% on Purchases for 12 months, then 13.99%-24.99% Variable |
| Balance Transfer APR: | 0% on Balance Transfers for 12 months, then 13.99%-24.99% Variable |
| Annual Fee: | $95 |
| Credit Needed: | Excellent, Good |
NextAdvisor Credit Cards Blog Headlines
- Which Chase Freedom Credit Card is Right for You?
When credit cards have similar names, it can be challenging to tell the cards apart. That’s probably the case for […] - Best No-Fee Travel Rewards Cards
Travel rewards credit cards are a great asset to any frequent traveler, but the unfortunate reality is that many of […] - Limited-Time Offer: Earn 75,000 Bonus Miles with the Citi / AAdvantage Executive World Elite Mastercard
Attention American Airlines frequent flyers: the Citi / AAdvantage Executive World Elite Mastercard (a NextAdvisor advertiser) just added a new, […] - Venture vs. VentureOne: Which Travel Rewards Credit Card is Best for You?
Choosing the right credit card for your needs and spending habits can be hard, especially when you’re trying to decide […]
Related Forum Posts
- Do I have to pay a balance transfer fee with Blue Cash Preferred Card from American Express during the 0% intro APR?
While new cardholders who transfer a balance to Blue Cash Preferred Card from American Express will enjoy 12 months of 0% intro APR on the amount[...] - Can I earn 6% cash back when I use Blue Cash Preferred Card from American Express outside the U.S.?
No, according to the terms and conditions for Blue Cash Preferred Card from American Express, you can only earn additional cash back (6% on groceries[...] - Is there a balance transfer fee with Blue Cash Preferred Card from American Express?
For each balance transfer you conduct between an existing credit card and your Blue Cash Preferred Card from American Express, you will be charged a[...] - If I transfer a balance to Blue Cash Preferred Card from American Express, do I have to pay it off immediately?
When you transfer a balance from an existing credit card to Blue Cash Preferred Card from American Express, you will have 12 months of 0% intro APR on[...] - Does American Express require that I pay my Blue Cash Preferred Card bill in full each month?
This is a common misconception that people have because American Express also offers charge cards, which operate differently from credit cards, and do[...]