| Last updated on February 8th, 2024
Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express
- 19.24% to 29.99% variable based on creditworthiness the Prime Rate Regular Purchase APR
- 19.24% to 29.99% variable based on creditworthiness the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
- 0% for 12 months from account opening date Intro Purchase APR
At a Glance
Through the Blue Cash Preferred® Card from American Express, you can earn sizable cash back rewards on purchases in common categories, including 6% cash back at U.S. supermarkets on up to $6,000 in annual purchases (then 1%), 3% cash back at U.S. gas stations and select U.S. department stores, and 1% on all other purchases. You can also earn $300 back in the form of a statement credit after you make $3,000 in purchases using your new card in the first six months of the account being open.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
- Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 19.24% - 29.99%. Variable APRs will not exceed 29.99%.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit
- Get up to $120 in statement credits annually when you pay for an Equinox+ membership at equinoxplus.com with your Blue Cash Preferred® Card. That's $10 in statement credits each month. Enrollment required.
- Thinking about getting The Disney Bundle which includes Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $12.99 or more each month on an eligible subscription with your Blue Cash Preferred Card. Enrollment required.
- Terms Apply.
- Intro Purchase APR: 0% for 12 months from account opening date
- Regular Purchase APR: 19.24% to 29.99% variable based on creditworthiness the Prime Rate
- Intro Balance Transfer APR: 0% for 12 months from account opening date
- Balance Transfer APR: 19.24% to 29.99% variable based on creditworthiness the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Penalty APR: 29.99% variable based on the Prime Rate
- Annual Fee: $0 for the first year. Then $95
- Foreign Transaction Fee: 2.7% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- You budget for family spending and want a credit card that earns significant cash back
- You'll spend a lot of money on groceries to take advantage 6% cash back at U.S. supermarkets on up to $6,000 in annual purchases (then 1% after that)
- You're excited at the prospect of earning 6% cash back with select streaming services
- You want to capitalize on your commute with 3% cash back at U.S. gas stations (and select U.S. department stores)
- You'll take advantage of 3% cash back on transit (taxis/rideshare, parking and tolls, trains, buses and more), and 1% on all other purchases
- You're likely to make $3,000 in purchases within the first six months of the account opening to qualify for a one-time $300 statement credit
- You cook at home often and commute to work and school regularly, or make use of public transit regularly
In-Depth Review: Blue Cash Preferred® from American Express
Even if you’re not buying groceries for a family or picking the kids up from extracurricular after-school activities nearly every day, the common categories where you can earn cash-back bonuses with the Blue Cash Preferred® Card from American Express can appeal to nearly everyone.
Who Can Benefit from the Card?
The American Express Blue Cash Preferred Card is well-suited for a variety of consumers due to its generous rewards structure, including those who spend a significant amount on groceries each month, those who spend a substantial amount on gas and public transportation, and even those who want to save money while paying for their endless array of streaming subscriptions.
Credit Needed
The Blue Cash Preferred requires either good or excellent credit. This range is around 670 to 850 in FICO score, although you should aim for a credit score of at least 700 before applying.
0% Intro APR Benefit
New Blue Cash Preferred® cardmembers enjoy 0% intro APR on purchases and balance transfers for 12 months from the account opening date, then a variable APR based on creditworthiness. Keep in mind that American Express only lets new accounts transfer balances made in the first 60 days of account opening.
Cardmembers also enjoy $0 Plan It fees on plans created during the first 12 months from the account opening date. Amex’s Plan is a BNPL service that lets you finance a transaction of $100 or more for a fixed monthly fee and no interest charges.
How to Earn Rewards
Welcome Offer
New accounts enjoy a $300 cash back welcome offer after spending $3,000 in purchases within the first six months of membership. You will receive the $300 back as a statement credit once the minimum purchase threshold is met.
Earn Up to 6% Back
The Blue Cash Preferred earns an enhanced cash back thanks to its $95 annual fee. Cardmembers earn the following rewards with the card:
- Earn 6% Back on Groceries: Cardholders earn 6% back on up to $6,000 per year in purchases at U.S. supermarkets
- 6% Back on Streaming purchases through eligible U.S. streaming subscriptions
- 3% Back on Transit and U.S. gas station purchases
- 1% back on all other purchases
How to Redeem Rewards
There are no caps to the amount of cash back earnable with the card. Cash back rewards are earned as Reward Dollars that can be redeemed as a statement credit.
Bonus Categories Explained
What does Amex mean by streaming and transit? The issuer has specific rules for these categories, spelling out what is – and isn’t – eligible.
Here is what American Express classifies as a streaming service:
| Amazon Music | Fubo TV | Luminary | Paramount+ | Spotify |
| Apple TV/ Music | HBO Max | MLB.tv | Peacock | Sticher |
| Audible | Standalone HBO | NBA League Pass | Prime Video | Tidal |
| DirecTV Stream | Hulu | Netflix | Showtime | YouTube Premium |
| Disney+ | iHeartRadio | NHL.tv | Sling TV | YouTube Music |
| ESPN+ | Kindle Unlimited | Pandora | SiriusXM | YouTube TV |
Additionally, Amex defines transit as purchases for things like taxis, rideshare apps like Uber and Lyft, parking, tools, trains, buses, and other light transit.
Statement Credits
Cardmembers also receive two generous statement credits:
- Disney Bundle Credit: Enjoy a $7 monthly rebate after using Blue Cash Preferred to pay $9.99 or more each month on a subscription1 to the Disney Bundle. This credit is valued at up to $84 annually.
- Equinox Credit: Earn $10 in monthly statement credits when using your Blue Cash Preferred Card to pay for a subscription to Equinox+. This credit is valued at up to $120 annually.
American Express Card Benefits
Travel Benefits and Protections
Cardmembers enjoy a comprehensive suite of travel benefits, including the following:
- Vehicle Rental Loss and Damage Insurance: Provides coverage for theft or damage to a rental car when the rental is paid with an eligible American Express Card.
- Purchase Protection: Offers coverage for eligible purchases that are stolen or accidentally damaged, such as a dropped smartphone.
Security Protections and Benefits
Here are some of the security protections and benefits offered by the Blue Cash Preferred® from American Express:
- Fraud Protection: American Express provides robust fraud protection to safeguard cardholders against unauthorized transactions.
- 24/7 Customer Service: Access round-the-clock customer service for card-related inquiries or assistance.
Shopping and Entertainment
For those who enjoy shopping and entertainment, the card provides the following perks:
- Free 2-Day Shipping: Card members can enjoy free 2-day shipping through ShopRunner on all eligible purchases from a growing network of over 100 online retailers.
- Entertainment Access®: Exclusive access to ticket pre-sales for popular concert tours and events and tickets to Broadway shows and sporting events in your area.
Comparison
| Blue Cash Preferred® | Capital One® Savor® Rewards | U.S. Bank Cash+® Visa Signature® | |
|---|---|---|---|
| Rewards | Earn 6% back on groceries (up to $6,000 per year) and streaming , 3% back on transit and US gas, and 1%on all other purchases. | Earn unlimited 4% back on dining & entertainment, plus 3% back on groceries, and 1% on all other purchases | Earn 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose, 5% back on travel through the Rewards Travel Center, 2% back on one everyday category, and 1% back on all else |
| Credits | $7 Disney rebate, $10 Equinox | $9.99/month Postmates | N/A |
| Annual fee | $95 | $95 | $0 |
Tips for Maximizing Value with the Card
To maximize your cash back rewards with the Blue Cash Preferred® Card, you can employ a few strategies. First and foremost, make full use of the supermarket bonus category. Plan your grocery shopping accordingly and consider buying gift cards for other retailers at the supermarket to earn cash back on those purchases as well.
Next, utilize the 6% cash back on select streaming services. If you’re already subscribed to popular streaming platforms such as Netflix, Hulu, or Spotify, link those services to your Blue Cash Preferred® Card to earn cash back on your monthly subscriptions.
When it comes to gas stations and transit, try to consolidate your trips and make use of public transportation whenever possible. Doing so allows you to maximize the 3% cash back on these categories and save money on your daily commute.
Lastly, consider using your Blue Cash Preferred® Card for all your everyday purchases. While the cash back rate for other purchases is 1%, it’s still better than not earning any cash back at all. By consolidating your spending on one card, you can accumulate cash back rewards faster.
Remember, the key to maximizing your cash back rewards is to always pay your balance in full and on time. By avoiding interest charges, you can truly reap the benefits of the Blue Cash Preferred® Card.
What We Like About the Card
The Blue Cash Preferred Card from American Express offers a range of attractive features that make it a valuable choice for various types of spenders.
Impressive Rewards
The Blue Cash Preferred Card offers a high cash back rate on everyday essentials like groceries, gas, transit, and streaming subscriptions, making it an ideal choice for family shoppers, home cooks, heavy commuters, and busy professionals.
Statement Credits
Those who like to stream will enjoy the statement credits on offer. Especially nice is the $84 Disney Bundle credit that offers a $7 rebate each month you bundle your Disney streaming subscriptions with the Blue Preferred Card.
Things to Consider
Annual Fee
Sure, the Blue Cash Preferred offers impressive rewards, but those come at a price. The card’s $95 annual fee is steep and might not make sense for people who don’t plan to aggressively attack the bonus streaming and grocery categories. Worse, there is the chance of falling into traps to maximize value, such as buying everything at the grocery store to max out the 6% benefit, but also falling victim to higher consumer prices.
Other Card Versions
- Morgan Stanley Blue Cash Preferred® Card
Because the card is only available to Morgan Stanley customers, it comes with an equally exclusive annual bonus. Cardmembers earn a $100 statement credit after spending $15,000 on eligible purchases per calendar year on the Morgan Stanley Blue Cash Preferred Card.
American Express Ratings
How does American Express rate as a bank and issuer? Here is a selection of ratings for the bank from consumers and experts:
| BestCards | Better Business Bureau | TrustPilot |
|
3.5/5 |
2/5 |
1.5/5 |
Should You Apply for the Blue Cash Preferred® Card from American Express?
When considering the Blue Cash Preferred® Card from American Express, it’s important to evaluate priorities – while 6% cash back on groceries, 3% cash back on gas, and 1% on everything else is an attractive offer, is it worth $95 per year?
The answer will depend on your spending habits – to offset the nearly $100 annual fee, you’ll need to be focused on spending a lot of money to earn enough cash back to pay for that fee, and even more, if you want to get cash back to keep for yourself.
That said, for anyone who plans to use this card to buy groceries for their family, the threshold to meet that annual fee weighs in at a spend of approximately $140 each month at grocery stores – an easy “achievement unlocked” when you’ve got hungry mouths to feed!
When compared to most cash back credit cards, this card stands a head and shoulders above most of its competitors now that American Express has expanded the 6% and 3% cash back features to cover more spending categories. If you know you will take advantage of the perks this card has to offer, it’s a wonderful opportunity to earn and save money. For those unsure, a general-purpose card, like the Chase Freedom Unlimited, might make more sense.
Browse Other Card Offers:
Editorial Disclosure – The opinions expressed on BestCards.com's reviews, articles, and all other content on or relating to the website are solely those of the content’s author(s). These opinions do not reflect those of any card issuer or financial institution, and editorial content on our site has not been reviewed or approved by these entities unless noted otherwise. Further, BestCards.com lists credit card offers that are frequently updated with information believed to be accurate to the best of our team's knowledge. However, please review the information provided directly by the credit card issuer or related financial institution for full details.