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.
Rewards Plan
Welcome Bonus
Intro APR
PROS
- Redeeming Options
- Cash Back Welcome Bonus
CONS
- Annual Fee
- Redemption Restrictions
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.
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).
- Cash Back Welcome Bonus
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
- Cash Back Rewards
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
Top Offers From Our Partners
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
- Travel Protection
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.
- Redeeming Options
You can redeem your cash back as a credit on your card. You can also use it on merchandise and gift cards.
- Extended Warranty on Purchases
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.
- 0% APR on Purchases
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.
- Entertainment Access
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.
Top Offers From Our Partners
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Suggested Videos From Our Channel
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.
- Annual Fee
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.
- High APR
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.
- Short Introductory Rates
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.
- Foreign Transaction Fee
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.
- Minimum Redemption Amounts
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.
- Not as Widely Accepted as Other Cards
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.
| |
|---|---|
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.
Top Offers From Our Partners
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Suggested Videos From Our Channel
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?
- 1.
Visit the American Express Blue Cash Preferred homepage and click on “Apply Now.”
- 2.
Fill in your personal details on the next page and click “Next.”
- 3.
Now, fill in your street address, city, zip code, and choose your birth date, SSN, etc.
- 4.
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.
- 5.
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℠ 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.
Review No Annual Fees Credit Cards
American Express Everyday
Chase Freedom Unlimited
Citi Custom Cash
Discover It Chrome Gas & Restaurants
Wells Fargo Reflect
Chase Freedom Flex
Capital One SavorOne Rewards
Bank of America Customized Cash Rewards
American Airlines AAdvantage MileUp
Hilton Honors American Express
American Express Everyday
Chase Freedom Unlimited
Citi Custom Cash
Discover It Chrome Gas & Restaurants
Wells Fargo Reflect
Chase Freedom Flex
Capital One SavorOne Rewards
Bank of America Customized Cash Rewards
American Airlines AAdvantage MileUp
Hilton Honors American Express
Review American Express Credit Cards
American Express Everyday
American Express Platinum Card
Delta SkyMiles Reserve
American Express Green Card
American Express Blue Cash Preferred
Delta SkyMiles Blue
American Express Gold Card
Delta SkyMiles Gold
Hilton Honors American Express
