Blue Cash Preferred® Card from American Express

Madison Blancaflor Avatar
Madison Blancaflor @M_Blancaflor  in  Cash Back How we rate our cards  |  Advertiser Disclosure
American Express Image

Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On American Express's secure website

Best for families on the go

Annual Fee:
$95
Purchase Intro APR:
0% on purchases for 12 months
Balance Transfer Intro APR:
0% on balance transfers for 12 months
Regular APR:
14.99%-25.99% Variable
Terms and Restrictions Apply | Rates and Fees

Bankrate Rating

Commonly used for: 0% Introductory APR, Auto Rental Insurance, Balance Transfer, Cash Back, EMV, Excellent Credit, Extended Warranty Program, Free Credit Score, Gas, Grocery, Lost Luggage Reimbursement, Mobile Pay Ready, Popular, Presale Tickets, Purchase Protection, Rewards, Roadside Assistance, Travel Accident Insurance, Travel Assistance, Unsecured credit card, Zero Fraud Liability.

One of our favorite cash back credit cards just got better. American Express has updated the card details to include expanded bonus categories that help you earn even more on everyday spending.

Here are the details:

The Blue Cash Preferred Card from American Express has gotten an upgrade, now offering a stellar rewards structure. You’ll earn:

  • 6% cash back at U.S. supermarkets on up to $6,000 in purchases per year (after that, you’ll earn 1%)
  • 6% cash back on select U.S. streaming services
  • 3% cash back on transit purchases (which includes rideshares, tolls, parking, taxis and more)
  • 3% cash back at U.S. gas stations
  • 1% on all other purchases

While there is an annual fee of $95 (See Rates & Fees), the impressive rewards potential easily makes it worthwhile for anyone who spends a significant portion of their budget in those categories. Adding to this card’s appeal are 0% intro APR on purchases and balance transfers for the first 12 months (14.99% – 25.99% variable APR thereafter) and an opportunity to earn a $250 intro bonus as a statement credit when you spend $1,000 in the first 3 months on purchases (See Rates & Fees).

In addition to these benefits, cardholders can enjoy shopping perks like extended warranty, return protection and purchase protection, plus travel and entertainment perks like a roadside assistance hotline, global assist hotline, travel accident insurance and car rental loss and damage insurance. Plus, thanks to American Express providing special access to ticket presales and Card Member-only events, you can be the first in line for the hottest happenings. Finally, a complimentary ShopRunner membership will let cardholders enjoy free 2-day shipping on eligible items purchased from a network of 100+ online stores.

Worthy addition to your wallet?

The card’s new bonus categories target millennial spending habits, but that doesn’t mean the card is limited to that generation. Supermarkets, streaming services, transit and gas are all common spending categories, and you can earn some lucrative cash back rewards whether or not you spend a significant portion of your budget in all four bonus categories.

The $250 intro bonus opportunity after spending $1,000 in the first 3 months and introductory APR and balance transfer offers are also big pluses.

The biggest possible obstacle most people will run into with this card is the annual fee. If that’s a deal-breaker, you should know that it has a sister card, the Blue Cash Everyday® Card from American Express, which earns similar, though lower, rewards and has no annual fee. It’s also important to consider where you shop most frequently for food – American Express excludes superstores (e.g., Target and Amazon), warehouse clubs (e.g., Sam’s Club) and specialty stores (e.g., wine shops, fish markets, etc.) and convenience stores.

However, with so many other bonus categories and earning possibilities with this card, this isn’t a dealbreaker for most cardholders.

Advantages
  • You don't have to enroll to earn in any of the major categories this card offers.
  • If you spend $1,000 in the first three months of card ownership, you get a $250 intro bonus as a statement credit.
  • The introductory APR offer can help if you have high-interest balances on another card or want to finance a big purchase.
  • Terms apply.
Disadvantages
  • Most wholesale clubs and specialty grocers don’t typically count toward the 6% rewards on spending at U.S. supermarkets.
  • Cash back can only be redeemed as a statement credit, gift cards or merchandise through Amex.
  • There’s a high penalty APR that will last for at least six months if you’re late or miss a payment.
For rates and fees of the Blue Cash Preferred® Card from American Express Card, please click here.

How much are the rewards worth?

Let’s assume your monthly credit card spending breaks down to something similar to this:

  • $300 at U.S. supermarkets
  • $150 on transit
  • $100 at U.S. gas stations
  • $50 on select streaming services
  • $300 on other purchases

You’ll earn around $378 by the end of the year in cash back. With a flat-rate card that earns 2% cash back, you’ll only earn around $216 with the same spending breakdown.

Cash back is earned as “Rewards Dollars,” which are paid as a percentage of the dollar amount you spend each month. You can redeem your Rewards Dollars for a statement credit, gift cards or merchandise through American Express, starting in increments of $25.

Fees and APR

  • The annual fee is $95.
  • There’s a welcome offer of 0% APR for 12 months on purchases and balance transfers, then a variable rate, currently 14.99% to 25.99%.
  • The balance transfer fee is either $5 or 3%, whichever is greater.
  • You’ll pay a 2.7% foreign transaction fee on all purchases made outside the U.S.
  • See Rates & Fees.

How to get the most value from this card

Six percent cash back on U.S. supermarkets and streaming services is much more generous than you’ll see with other cash back cards, and 3% on transit and U.S. gas stations is also comparatively high. You can’t go wrong with this card as long as you’re using it across those bonus spending categories.

This card can also be paired with a no annual fee card like the Chase Freedom Unlimited to maximize cash back earnings in categories where the Blue Cash Preferred doesn’t offer outstanding rewards.

Despite its $95 annual fee, this card is a cash-back machine with its high earning potential at U.S. supermarkets. It’s the perfect card for both millennials and large families, and its lengthy intro APR period and generous intro bonus are definitely worth taking advantage of.

For rates and fees of the Blue Cash Preferred® Card from American Express Card, please click here.