Table of Content
The Blue Cash Preferred® Card from American Express and Chase Sapphire Preferred® Card are great cards for everyday purchases and also for those who enjoy traveling.
However, there are some key differences that will influence which card would be the best choice for you.
General Comparison
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| |
|---|---|---|
Amex Blue Cash Preferred® | Chase Sapphire Preferred® | |
Annual Fee | $95 ($0 intro for the first year). See Rates and Fees. | $95
|
Rewards | 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
.Terms Apply. | 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and online grocery purchases and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases
|
Welcome bonus | $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months | |
0% Intro APR | 12 months on purchases and balance transfers
, then 19.24% – 29.99% Variable APR | N/A
|
Foreign Transaction Fee | 2.70%. See Rates and Fees. | 0% |
Purchase APR | 19.24% – 29.99% Variable | 21.24%–28.24% variable APR |
Simulation: Which Card Gives More Rewards?
We’ve looked at several aspects of these cards, but without a scenario comparison, it can be tricky to appreciate the actual rewards potential.
Since Amex Blue Cash Preferred is more of an everyday spending card and Chase offers great travel rewards, we’ll assume that you fly on a fairly regular basis, but not necessarily every month. We will also assume you book your flights and hotels through the Chase portal.
Chase Sapphire Preferred which included in our best credit cards card for 2022, offers higher rewards, but you will need to convert your points and you’ll only obtain this higher redemption rate if you use your points for travel via the Chase portal. If you choose other rewards redemptions, you would be looking at a more comparable figure.
However, keep in mind to adjust the numbers to your regular spending categories, which may be different – so the exact calculation depends on your personal habits and the other card you carry.
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| |
|---|---|---|
Spend Per Category | Amex Blue Cash Preferred® | Chase Sapphire Preferred® |
$15,000 – U.S Supermarkets | $450 | 45,000 points |
$5,000 – Restaurants
| $50 | 15,000 points |
$2,000 – Airline | $20 | 10,000 points |
$2,000 – Hotels | $20 | 10,000 points |
$4,000 – Gas | $120 | 4,000 points |
Total Points | – | 84,000 points |
Estimated Redemption Value | – | 1 point = 1 – 1.25 cents |
Estimated Annual Value | $660 | $840 – $1,050 |
* Assuming all travel purchases are purchased through Chase Ultimate Rewards®.
Editorial Note: Terms apply to American Express benefits and offers. Enrollments may be required for select benefits. Visit americanexpress.com to learn more
Compare Welcome Bonus And Fees
This is the first area of comparison and the welcome bonuses are very different.
While American Express offers a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months, Chase offers 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. This has a higher value, with the points being worth up to $750, if you spend them with the Chase Ultimate Rewards portal.
At first glance, the Chase introductory bonus appears far better. However, you need to look at the time limit. Chase requires that you meet the spending criteria in three months, while American Express gives you six months.
Both cards have an annual fee (The Blue Chase Preferred offers a $0 intro for the first year), and the APRs are similar. However, American Express offers 0% for 12 months on purchases and balance transfers , and the balance transfer fee is lower compared to Chase. In Chase’s favor, Chase does not charge foreign transaction fees.
Compare The Perks
Amex Blue Cash Preferred®
- Equinox+ Credit: When you use your Blue Cash Preferred credit card to pay for your Equinox+, you’ll receive $10 a month in statement credit.
- Additional Car Rental Insurance: When you use your Blue Cash Preferred card to reserve and pay for your car rental, you’ll receive additional car rental loss, damage, and theft insurance.
- Purchase Return Protection: You can enjoy return protection on eligible items with up to $300 per item and a cap of $1,000 per year. You must make your purchases with your card and negotiate with the seller first.
- Exclusive Ticket Presale Access: Via American Express Experiences, you can obtain exclusive access to card member only events and ticket presales for concerts, sporting events, shows, and family events
- Pay It Plan It: This allows you to control how you pay for purchases. For payments under $100, you can make payments over the course of a month. For purchases of at least $100, you can split these payments into monthly payments, having a fixed fee and no interest rate. You also earn rewards as normal.
Terms apply to American Express benefits and offers.
Chase Sapphire Preferred®
- Ultimate Rewards Additional Value: You’ll get 25% more for your points when you redeem them through the Ultimate Rewards portal.
- Anniversary Bonus: You’ll get bonus points for 10% of your total purchases from the previous year. So, if you spend $20,000, the following year, you’ll get 2,000 bonus points.
- Travel Interruption/Cancelation Insurance: If you book your trip with your card, you’ll be reimbursed up to $10,000 per person and $20,000 per trip if your trip is cut short or canceled due to covered situations.
- Baggage Delay Insurance: You’ll receive up to $100 per day for five days for essential purchases if your baggage is delayed by your passenger carrier. You’ll also get up to $500 per ticket if your common carrier travel is delayed for over 12 hours.
- Auto Collision Rental Damage Waiver: If you charge the entire cost of your rental to your card, you’ll have supplemental theft and collision damage cover for free.
- Purchase Protection: New purchases are covered for up to 120 days against theft or damage. There is a claim limit of $500 and $50,000 per account. You’ll also get extended warranty protection on eligible warranties. If you lost or misplaced your credit card, you can quickly lock it on Chase website.
Compare The Drawbacks
Of course, like all credit cards, the Blue Cash Preferred and Chase Sapphire Preferred have potential drawbacks that may influence whether they are a good choice for you.
So, here we’ll highlight possible negatives, to help you make an informed decision.
Amex Blue Cash Preferred®
- Foreign Transaction Fees
While Chase does not charge foreign transaction fees with the Sapphire Preferred, you’ll need to be prepared for a 2.70% fee on the Blue Cash Preferred. It can quickly add up if you’re using this as your primary card when on vacation.
- U.S. Supermarkets Exceptions
For U.S. supermarkets, there are certain chains that are excluded such as Amazon, Target and Walmart.
Chase Sapphire Preferred®
- No Annual Fee Discount
Although the annual fee for both these cards is the same, American Express waives the fee in the first year. This could immediately negate the additional rewards in your first year.
- No 0% introductory APR
As mentioned above, while American Express offers 0% for 12 months on purchases and balance transfers , Chase does not offer this type of bonus. Depending on the balance you carry on your card, this could add up to hundreds of dollars more than you would pay with the Blue Cash Preferred.
Compare Redemption Options
Chase offers several ways to redeem your rewards. These include:
- Statement credit or a direct deposit: There is no minimum to redeem your rewards in this way and direct deposits are acceptable for most U.S checking accounts.
- Amazon shopping: You can also use your rewards to pay for all or part of eligible Amazon.com orders when you link your card to your Amazon account.
- Gift cards: Chase has a variety of gift card options including for dining, entertainment and shopping.
- Travel rewards. You can use the Chase Ultimate Rewards platform to access competitive rates for travel products including hotel stays benefits and flights.
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.
How to Maximize Cards Benefits?
If you want to make the best use of your Amex Blue Cash Preferred, there are some tips to help you:
- Don’t just buy groceries at the grocery store. You’ll get higher benefits on purchases at U.S. supermarkets, but this doesn’t mean that you’re limited to just groceries. You can buy homewares, tools, and other items at U.S. supermarkets to maximize your cash back.
- Check out American Express Experiences: If you like going to concerts, sporting events, and shows, be sure to check out this platform for exclusive access to ticket presales.
- Reserve and pay for your rental cars with your card. This will provide additional insurance protection for damage and theft.
- Don’t cash advance: The fee for cash advances with this card is hefty, so try to avoid them at all costs.
If you want to make the best use of your Chase Sapphire Preferred, there are some tips to help you:
- Check the Chase Ultimate Rewards platform: Don’t assume that this platform is just for airfare, as there are actually lots of different travel products you can purchase and when you make purchases through Ultimate Rewards you’ll get 5% instead of the 2% normally in this category.
- Book your trips with your card to access free insurance including baggage delay and travel interruption/cancelation coverage.
- Use your card for new item purchases, as you’ll get extended warranty protection on eligible products and coverage against damage or theft.
Customer Reviews: Which Card Wins?
Satisfied customers report that the Amex Blue Cash Preferred is an excellent card to negate the rising cost of groceries and one of the best cards American express offer. While there is a cap per year, you can earn higher cash back on your bills at U.S. supermarkets. The other highlights include an easy to qualify for introductory cash bonus.
Negative reviews report frustration that there are some exclusions in the grocery store cash back category. You need to check the list of exclusions to make sure that you can earn maximum rewards in your favorite grocery stores.
When it comes to the Sapphire Preferred, satisfied borrowers praise the Chase Ultimate Rewards platform and that you can find great products and earn higher cash back. It is well worth checking Ultimate Rewards before you make any travel plans.
Negative reviews relate to sudden credit line decreases. There are review comments that after clearing the balance, the credit limit was suddenly reduced impacting credit scores.
Bottom Line
Both of these cards offer some excellent rewards for frequent travelers, particularly if you redeem your rewards on travel products.
However, the differences between these two cards will help you determine which is the better choice for you.
When You Might Want the Blue Cash Preferred?
The Amex Blue Cash Preferred Card is a great option that could be good if:
- You tend to spend $500 or less a month on U.S. supermarkets, as you’ll enjoy higher cash back up to a cap of $6,000 per year. After this, you’ll earn 1%.
- You like attending concerts, sporting events, and other ticketed events and will make use of the Amex ticket presale platform.
- You plan on making $2,000 in purchases within the first six months, so you’ll qualify for the cash back bonus
When You Might Want the Chase Sapphire Preferred®?
The Chase Sapphire Preferred® Card is a solid choice if:
- You will spend $500 per month in groceries during your first year to maximize your cash back.
- You enjoy dining out, as you’ll get 3% on your purchases
- You will use your card when you’re abroad
- You’re a frequent Lyft customer. Until March 2022, you’ll get an extra 3.5% cash back on your rides.
- You like DoorDash, as you’ll get a three month DashPass subscription with $0 delivery fee on orders over $12.
Compare The Alternatives
Both cards are definitely considered as one of the best in the niche. However, there are always recommended alternatives to check out before applying:
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| |
|---|---|---|---|
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
|
2X
2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel
|
1X – 2X
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 | 20.24%–28.99% variable
| 20.99% – 28.99% (Variable)
| 17.49% – 28.49% variable
|
FAQ
Yes, you can get car rental insurance with this card if you decline the collision cover of the rental company and pay for the entire cost of the rental car with this card. Please review the terms and conditions before to make sure you're covered
The minimum credit limit that you can get with this card type is usually $5,000. The exact credit limit will depend on what answers you provide in your application
You might not have met some requirements. You can ask the customer support team where your application for the Blue Cash Preferred Card failed and seek a remedy to this situation.
The rewards points that you earn through using the Blue Cash Preferred Card do not expire once you keep your account open and meet a few basic conditions.
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