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With big rewards in multiple categories, the $0 intro annual fee for the first year, then $95-annual-fee Blue Cash Preferred® Card from American Express (terms apply, see rates & fees) is a cash-back card tailor-made for our Covid-19-induced homebound behaviors, earning some of the highest rewards you’ll find on supermarket spending and select streaming services. The card also offers strong rewards at U.S. gas stations and a wide variety of ways to get around like taxis, buses, trains and rideshares, making it a must-have in the wallet of anyone who cooks, streams content or gets around. Blue Cash Preferred® Card from American Express Annual Fee $0 intro annual fee for the first year, then $95 Regular APR 16.99%-27.99% Variable Credit Score Excellent/Good Pros
Cons
Highlights
IntroductionThe Blue Cash Preferred Card’s high cash back rate at U.S. supermarkets might turn heads, but those heads might turn away after reading all the fine print. The increased cash back category is capped at $6,000 spent annually and does not include superstores like Walmart or Target or wholesale clubs like Costco. For those who hit the cap, additional purchases will only earn 1%. The card also earns 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) and 1% cash back on other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit, plus a decent 0% APR offer on purchases: Get a 0% introductory APR for 12 months on purchases and balance transfers requested within the first 60 days of account opening, followed by a variable APR of 16.99%-27.99%. A balance transfer fee of $5 or 3%, whichever is greater, applies. Travel benefits for the card include secondary car rental loss and damage insurance and a global assist hotline for those in tricky situations over 100 miles from home. Consider the card’s foreign transaction fee if looking at this as a primary travel card, though. Also, American Express is still not as widely accepted internationally as other issuers. One potential drawback of the Blue Cash Preferred card is that rewards are redeemed as statement credits at a $25 minimum and do not apply toward minimum payments. This is standard for most Amex cards that do not offer Membership Rewards Points, Amex’s transferable point system. At a Glance
American Express Blue Cash Preferred RewardsEarning RewardsEarn 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) and 1% cash back on other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. There’s also a first-year welcome bonus: Earn a $250 statement credit after making $3,000 in purchases within the first 6 months. Redeeming RewardsRewards are earned as Blue Cash Reward Dollars, which may be redeemed for statement credit with a minimum redemption of $25. Rewards cannot be applied toward minimum payments. Rewards PotentialTo determine the rewards potential of the American Express Blue Cash Preferred card we have to look at the bonus categories and calculate what an American household might spend in those areas. Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. The 70th percentile of wage earners bring in $100,172 annually and we base spending on that number. Forbes Advisor estimates that a household in this income category spends $5,687 on groceries per year, which adds up to $341.22 cash back on supermarket expenses. Streaming service spending of $443 adds another $26.58 in annual cash back. The $2,687 on transportation our sample household spends would net $80.61 to cash back, and $17,593 on other purchases that could reasonably be charged to a credit card would earn cash back of $175.93. This means that the card would earn a total of $624.34 per year, in addition to the first-year welcome bonus. 0% Introductory RatesThe Blue Cash Preferred Card comes with a 0% introductory APR for 12 months on purchases and balance transfers requested within the first 60 days of account opening, followed by a variable APR of 16.99%-27.99%. A balance transfer fee of $5 or 3%, whichever is greater, applies American Express Blue Cash Preferred Benefits
*Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. **With Return Protection, you may return eligible purchases to American Express if the seller won’t take them back up to 90 days from the date of purchase. American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express® Card. Purchases must be made in the U.S. or its territories. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. ***Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Fine PrintInterest Rates
Fees
How The Blue Cash Preferred® Card from American Express Stacks UpBlue Cash Preferred® Card from American Express vs. Blue Cash Everyday® Card from American ExpressThose who frequently spend in the bonus categories offered on the Blue Cash Preferred, but can’t stomach an annual fee, may want to consider the Preferred’s no-annual-fee sibling card, the Blue Cash Everyday® Card from American Express (terms apply. See rates & fees.). With this card you’ll earn 3% cash back at U.S. supermarkets, U.S. gas stations, and online retail purchases in the U.S. (on up to $6,000 in each category per year in purchases, then 1%), and 1% cash back on other purchases. Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits. Ultimately the difference between the two is the Blue Cash Everyday has no annual fee, but you’re also earning less at U.S supermarkets and U.S. gas and trading transit rewards for bonus earnings at select department stores. Those who spend more than $61 a week on groceries and other supermarket items will come out ahead with Blue Cash Preferred in spite of its $0 intro annual fee for the first year, then $95 annual fee. Read our in-depth comparison of Blue Cash Preferred Vs. Blue Cash Everyday. Blue Cash Preferred® Card from American Express vs. American Express® Gold CardThe American Express® Gold Card (terms apply, see rates & fees) is the mid-range option for those who wish to earn American Express Membership Rewards points. Some cards offer bonuses for dining and others for U.S supermarket spending, but the American Express Gold Card is an industry leader by offering 4 Membership Rewards® points per dollar at restaurants, plus takeout and delivery in the U.S., 4 Membership Rewards® points per dollar at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1 point per dollar), 3 Membership Rewards® points per dollar on flights booked directly with airlines or through American Express travel and 1 point per dollar on other eligible purchases. Plus, unlike the Blue Cash Preferred, the Amex Gold card’s Membership Rewards can be transferred to a number of Amex’s travel transfer partners at a potential greater value than a penny per point. The downside? An annual fee of $250, which is not waived the first year. On paper the fee can be justified by the rewards the card offers: You’ll earn up to $120 in dining credits and up to $120 in Uber Cash. However, it is not so simple. The $120 dining credit has to be redeemed in $10 monthly increments, is only good at a small selection of restaurants and delivery services and requires enrollment. And the Uber Cash also has to be used at the rate of $10 per month and is only valid for rides and Uber eats in the U.S. You must also link your eligible card to your Uber account. But for someone whose spending aligns more closely with the bonus rewards on the Amex Gold than the Blue Cash Preferred and who prefers Membership Rewards over cash, this could be a better choice. Blue Cash Preferred® Card from American Express vs. Citi® Double Cash CardUnlike the tiered rewards structure of the Blue Cash Preferred, the Citi® Double Cash Card is a flat-rate rewards card that earns 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off. It also comes with a balance transfer offer of 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 16.99% - 26.99%, based on creditworthiness. There is also an intro balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5). These two cards might work well paired together for those who find their spending priorities align well with the higher earning categories of the Blue Cash Preferred Card but don’t want to lose out on higher cash back opportunities all-around. Compare The Blue Cash Preferred Card With OthersIs The Blue Cash Preferred® Card from American Express For You?The Blue Cash Preferred Card from American Express has an above-average earning rate but one that has to be weighed against the $0 intro annual fee for the first year, then $95 annual fee. For households with spending centered on groceries and getting around, the card could be a great fit, especially for those who can take advantage of the introductory 0% APR offer on purchases. But if you tend to spend more in other areas, like travel or dining, look for another card that offers higher rewards in those areas. To view rates and fees of the Blue Cash Preferred® Card from American Express, please visit this page. Frequently Asked Questions (FAQs)What credit score do you need for the American Express Blue Cash Preferred?A credit card that offers elevated rewards typically requires a top-notch score and the Amex Blue Cash Preferred is no exception. If you’re thinking about applying for the card, know that your best chance of approval includes a credit score that falls within the good to excellent range. FICO, the most widely known credit scoring model typically uses a scale of 300 to 850. On that scale, a credit score between 670 and 739 is generally considered “good.” Anything above that is considered to be excellent. What is the credit limit on the Blue Cash Preferred from American Express?Just like with most unsecured credit cards, there typically isn’t one set limit that applies to everyone. Instead, your credit limit will be a combination of factors including your overall credit profile including current debts and your income. These factors will help the issuer determine how much you can realistically afford to pay towards a card balance every month and how much they are willing to risk lending to you.
How to Get Cash Back on the American Express Blue Cash PreferredTo redeem your Reward Dollars for cash, log into your American Express account and click on “Use Reward Dollars.” Once you have a balance equal to $25 or more, you can redeem them for a statement credit at a rate of 1 Reward Dollar to $1.00. Just enter the amount of Reward Dollars you’d like to use as a credit toward your next statement balance and the credit will usually appear within three days. Be aware that the statement credit will not apply to the “minimum payment due” portion of your balance. What type of stores are considered “supermarkets” with Amex Blue Cash Preferred?According to American Express, a supermarket has to be located in the U.S and offer “a wide variety of food and household products such as meat, fresh produce, dairy, canned and packaged goods, household cleaners, pharmacy products and pet supplies”. Superstores (like Target, Walmart and Amazon), convenience stores, warehouse clubs (like Costco and BJs), and meal-kit delivery services are NOT considered supermarkets. Examples that do count as a supermarket include ALDI, FreshDirect, Gelson’s, Giant, Hy-Vee, Kings Food Markets, Meijer, ShopRite, Smart & Final, Stop & Shop, Trader Joe’s, Vons, Whole Foods and Winn-Dixie.
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Something went wrong. Please try again later. Does Amex Blue Cash Preferred have a limit?The Blue Cash Preferred credit limit is based on American Express's assessment of each application, so the card's credit limit will be different for each applicant. American Express does not include any specific Blue Cash Preferred credit limit information in the card's terms.
Is the Blue Cash Preferred Card hard to get?Yes, Blue Cash Preferred is hard to get because it requires a credit score of 700+ for approval, which means you need good to excellent credit to get this card. Since the average credit score is lower than this requirement, most people will not be able to get the Blue Cash Preferred card.
What will my credit limit be with Amex?You can find your credit limit in your online American Express account. Once you log in to your account, choose the card you want by clicking on the credit card icon in the upper right corner of your screen. Then you will be able to see your available credit limit in the Home section of your credit card account.
How often does Amex Blue increase credit limit?Yes, some card issuers—including American Express—may increase a cardholder's credit limit automatically. An automatic increase can happen as often as every six months if cardholders: Use the card frequently. Consistently make on-time payments.
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