Credit Cards » Credit Card Reviews » Blue Cash Preferred® Card from American Express: 2022 Review
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Blue Cash Preferred® Card from American Express: 2022 Review

Blue Cash Preferred® Card from American Express is a great card for large families that have large grocery expenses. Here's what you need to know:
Author: Jack Wickens
Jack Wickens

Writer, Contributor

Experience

Jack is a personal finance writer who has been writing for more than a decade. His passion for educating consumers and helping everyday families earn more and live better. He is most knowledgeable with years of experience covering topics such as savings, budgeting, and responsible credit use and always happy to share his expertise with readers.

Review & Fact Check: Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Financial Expert, The Smart Investor CEO

Experience

Baruch Mann (Silvermann) is a financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.
Author: Jack Wickens
Jack Wickens

Writer, Contributor

Experience

Jack is a personal finance writer who has been writing for more than a decade. His passion for educating consumers and helping everyday families earn more and live better. He is most knowledgeable with years of experience covering topics such as savings, budgeting, and responsible credit use and always happy to share his expertise with readers.

Review & Fact Check: Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Financial Expert, The Smart Investor CEO

Experience

Baruch Mann (Silvermann) is a financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.

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In this Review..

The Blue Cash Preferred® Card from American Express sits among the elite of cash-back credit cards and it is one of the most ideal cards for families. The card offers you to 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases .

The cashback is usually received in the form of reward dollars and can be redeemed as a statement credit whenever the rewards are more than $25. The American Express Blue Cash Preferred offers a $350 back in the form of a statement credit after you spend $3,000 in purchases on your new card in your first 6 months of Card Membership .

Premier rewards, however, come at an annual fee of $95, which is quite pricey, especially since their competitors do this for free (See rates & fees). But, their high reward standards and rates shall more than make up for this fee to the cardholders, especially people with families. The decision, therefore, becomes a break-even analysis, of the cost and rewards.

Blue Cash Preferred® Card from American Express
AMEX Blue Cash Preferred Card review

On AMEX Secure Website

Rates & Fees / Terms Apply

Rewards Plan

1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases

Welcome Bonus

$350 $350 back in the form of a statement credit after you spend $3,000 in purchases on your new card in your first 6 months of Card Membership

Intro APR

12 months on purchases

PROS

CONS

APR

16.24%-26.24% Variable

Annual Fee

$95

Balance Transfer Fee

N/A

Credit Requirements

Good – Excellent Credit

Editorial Note: Terms apply to American Express benefits and offers. Enrollments may be required for select benefits. Visit americanexpress.com to learn more

Card & Issuer Reputation

  • 4/5  on WalletHub customer reviews (+1500 reviews): WalletHub customer reviews allow customers to post positive, negative or neutral reviews about marketplace experiences.
  • 838/1000 on J.D Power: American Express ranks in the 1st place,  got 838 out of 1000 available points on J.D. Power credit card satisfaction survey. J.D Power offers the most comprehensive and independent study of customer satisfaction of card issuers . The study aims to help consumers and issuers to understand user opinions and ratings of the largest bands. It covers terms, benefits, services, communication, rewards and more.

J.D. Power U.S. Credit Card Satisfaction Study 2020

Benefits

Let’s take a look at the benefits of the Blue Cash Preferred card and see if it’s the right one for your wallet or not (Terms Apply).

American Express Blue Cash Preferred offers a $350 back in the form of a statement credit after you spend $3,000 in purchases on your new card in your first 6 months of Card Membership  

American Express Blue Cash Preferred offers 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases

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Rewards Plan:
Up to 4X points 4x points at restaurants, take-outs & deliveries, 2x points at supermarkets, gas stations & streaming servicesm and 1 point for 1 dollar on all other purchases
Welcome Bonus: 20,000 points 20,000 bonus points when you spend $1,000 in eligible purchases within the first 90 days of account opening
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Welcome Bonus: Up to $300 additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year)- worth up to $300 cash back

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The product offers that appear on this site are from companies from which this website receives compensation. 

American Express Blue Cash Preferred holders have access to a roadside assistance hotline, so if you have an emergency on the road you can take comfort in the fact that you can call the hotline for help. Card holders also have rental car loss and damage insurance. 

Travel accident insurance is included when travel costs are paid with the American Express. They also have a global assistance hotline that can help you if have issues abroad, from legal issues to losing your luggage.

You can redeem your cash back as a credit on your card. You can also use it on merchandise and gift cards.

American Express Blue Cash Preferred has an extended warranty on purchases of items even after the manufacturer warranty has expired, up to 5 years. It includes purchase protection up to 120 days after purchase for broken or stolen items. 

It also includes return protection, meaning that if a merchant does not take back an item within 90 days, American Express will refund the card holder. American Express will also work with card holders on disputed charges.

If you are looking to save money on interest, the American Express Blue Cash Preferred offers a 12 months on purchases , then 16.24%-26.24% Variable thereafter.

American Express has exclusive ticket presales for events such as concerts, Broadway shows, and sporting events. You have access to this with the American Express Blue Cash Preferred.

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The Platinum Card® from American Express
Rewards Plan:
Up to 5x points 5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year), 2X points on prepaid car rentals through American Express Travel and 1X points on all other purchases
Welcome Bonus: 100,000 points 100,000 points when you spend $6,000 in the first six months

AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus: $350 $350 back in the form of a statement credit after you spend $3,000 in purchases on your new card in your first 6 months of Card Membership

AMERICAN EXPRESS gold card

Rewards Plan:
1x – 4x Points 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases]
Welcome Bonus: 60,000 points 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership

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The product offers that appear on this site are from companies from which this website receives compensation. 

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Drawbacks

Let’s take a look at the drawbacks of the Blue Cash Preferred card and see if it’s the right one for your wallet or not.

American Express Blue Cash Preferred has a $95 annual fee. This fee eats into some of the cashback rewards. Many cashback credit cards do not have annual fees.

The APR for American Express Blue Cash Preferred is a 16.24%-26.24% Variable variable rate, which is high for a card that requires borrowers with good credit histories. 

American Express Blue Cash Preferred has a 12 months on purchases 0% APR introductory rate but there are other cards that have longer introductory rates. 

If you are looking to transfer some debts and pay them down or have a large purchase in mind that you want to pay over time, you may want to look at other cards with longer 0% APR introductory rates.

American Express Blue Cash Preferred has a 2.70% fee for each transaction in another country. If you are traveling outside of the U.S. you may want to leave this card at home.

American Express Blue Cash Preferred has minimum redemption amounts of $25 for credit toward your credit card or to use on other rewards. 

There are other cards that do not have a minimum redemption amount and cashback rewards can be used at any time.

American Express is not as widely accepted as competitors like Visa and Mastercard. 

There may be merchants who do not accept the American Express Blue Cash Preferred.

Rewards Simulation: How Much You Can Earn?

The best way to see if the Blue Cash Preferred is the right choice for your needs, is to calculate the amount of rewards and benefits you suppose to earn. 

Keep in mind that this is a general breakdown of expenses, so make sure to adjust it to your own consumer preferences and spending habits.

AMEX Blue Cash Preferred Card review

Spend Per Category
Amex Blue Cash Preferred®
$15,000 – U.S Supermarkets
$450
$5,000 – Restaurants
$50
$2,000 – Airline
$20
$2,000 – Hotels
$20
$4,000 – Gas
$120
Estimated Annual Value
$660

How to Redeem Your Cash Back?

When it comes to redeem your Blue Cash Preferred cash back, it's quite simple. Log into your American Express account and select “Use Reward Dollars” to redeem your Reward Dollars.

You can redeem your available Reward Dollars balance for a statement credit at a rate of 1.00 Reward Dollar to $1.00 as long as your available Reward Dollars balance is 25 or more.

Simply enter the number of Reward Dollars you want to use as a credit toward your next statement balance, and the credit should appear within three days.

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Rewards Plan:
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Welcome Bonus: 75,000 miles 75,000 miles once they spend $4,000 on purchases within 3 months from account opening

Bank of America® travel rewards

Rewards Plan:
Unlimited 1.5X points 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points
Welcome Bonus:25,000 points 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases
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Rewards Plan:
2x-5x points 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases
Welcome Bonus: 60,000 points 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening

Advertiser Disclosure

The product offers that appear on this site are from companies from which this website receives compensation. 

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Make The Most of Your Blue Cash Preferred

Here are some pointers to help you make the most of your Amex Blue Cash Preferred card:

  • Use Amex Travel – You can use your credit card to reserve and pay for rental cars. This will provide additional insurance coverage against damage and theft.
  • Don't just buy groceries at the supermarket. You'll get more benefits if you shop at U.S. supermarkets, but this doesn't limit you to just groceries. To maximize your cash back, buy homewares, tools, and other items at US supermarkets.
  • Check out American Express Experiences: If you enjoy going to concerts, sporting events, and shows, this platform will provide you with exclusive access to ticket presales.

How To Apply For American Express Blue Cash Preferred Card?

Visit the American Express Blue Cash Preferred homepage and click on “Apply Now.”

American Express Blue Cash_Apply now

Fill in your personal details on the next page and click “Next.”

American Express Blue Cash_Apply now

Now, fill in your street address, city, zip code, and choose your birth date, SSN, etc.

American Express Blue Cash_Apply now

The next step is your financial details – you’ll need to share some details about your income and more relevant info such as employment status and annual income.

American Express Blue Cash_Apply now

Next, read through the Terms and conditions and approve them.

Is the Amex Blue Cash Preferred Card Right for You?

American Express Blue Cash Preferred is a great card for large families that have large grocery expenses. This card also has 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases – that can be a good option for families.

However, you'll pay an annual fee that will eat into your cashback rewards. Consumers that do not have large grocery bills may want to look into other cashback cards that do not have an annual fee. Also consumers looking to pay off debt may want to look for a card with a longer 0% APR introductory rate.

If you’re looking for cash back on life’s day-to-day purchases, this card can be the groceries and gas credit card for many consumers. 

Compare The Alternatives

There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the Blue Cash Preferred:

Chase Freedom Flex
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Amex-Blue-Cash-everyday
Chase Freedom Flex℠ Card
Capital One Venture Rewards Credit Card
American Express EveryDay® Card
Annual Fee
$0
$95
$0
Rewards
1-5% 5% cash back on up to $1,500 in combined purchases on selected categories each quarter and 5% cash back on travel purchased through Chase Ultimate Rewards®. Also, you can earn 3% cash back on dining at restaurants (including takeout and eligible delivery services), drugstore purchases , and 1% on all other purchases
Unlimited 2X miles 2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel
1X – 2X points 2X at U.S. supermarkets (up to $6,000 each year), then 1x on all purchases
Welcome bonus
$200 $200 bonus after you spend $500 on purchases in the first 3 months from account opening
75,000 miles 75,000 miles once they spend $4,000 on purchases within 3 months from account opening
10,000 points 10,000 points after you spend $1,000 in purchases on your new card within the first 3 months
Foreign Transaction Fee
3%
None
2.7%
Purchase APR
16.49% – 25.24% variable
17.49% – 25.49% Variable
14.49% – 25.49% variable

FAQ

You can get the premium cashback rate on groceries until you have annual purchases in this area of $6,000. The rate then goes to 1% with the Blue Cash Preferred Card.

Yes, you will get this insurance if you refuse the car rental company’s insurance coverage and you pay for the entire cost of the rental with this card. Please review the terms and conditions before to make sure you're covered.

Yes, you can get pre-approval for the Blue Cash Preferred Card if you fill out a simple form. No hard credit check is needed at this stage.

The initial credit limit for the Blue Cash Preferred Card will be at least $1,000 and usually greater. The exact limit depends on your financial situation.

The rewards that you will earn through using the Blue Cash Preferred Card to make purchases will be credited to you in the form of a statement credit.

It is not very hard to get a Blue Cash Preferred Card. There are just some straightforward requirements that you need to meet and you will then be good to go.

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AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus: $350 $350 back in the form of a statement credit after you spend $3,000 in purchases on your new card in your first 6 months of Card Membership
American express everyday card review 2021
Rewards Plan:
1X – 2X points 2X at U.S. supermarkets (up to $6,000 each year), then 1x on all purchases
Welcome Bonus: 10,000 points 10,000 points after you spend $1,000 in purchases on your new card within the first 3 months

American Express Cash Magnet

Rewards Plan:
1.5% unlimited 1.5 percent cash back on all purchases
Welcome Bonus: $200 $200 statement credit for spending $2,000 in the first 6 months of account opening

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The product offers that appear on this site are from companies from which this website receives compensation. 

Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

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In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.