Blue Cash Preferred from Amex Review

The Blue Cash Preferred® Card from American Express is a popular cashback rewards credit card designed for individuals and families who spend a significant amount on everyday expenses like groceries and gas. It offers a range of benefits and rewards, making it a valuable choice for many consumers. Here's a review of the Blue Cash Preferred® Card:

Key Features and Benefits:

1. Generous Cash Back Rewards: The Blue Cash Preferred® Card offers a competitive cashback rewards structure, which includes 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 3% cash back on transit, including rideshares and parking. These high cashback rates can result in substantial savings.

2. Welcome Offer: The card often comes with a welcome offer where new cardholders can earn a significant cashback bonus after spending a certain amount within the first few months of card membership.

3. Annual Fee: The card does have an annual fee, but the high cashback rates can easily offset this cost for those who spend heavily in the included categories.

4. Introductory APR: The Blue Cash Preferred® Card typically offers a 0% introductory APR on purchases for the first 12 months from account opening. This feature can be helpful for spreading out payments or financing larger purchases without incurring interest charges during the promotional period.

5. Travel and Shopping Protections: Cardholders may benefit from various travel and purchase protection benefits, including car rental loss and damage insurance, purchase protection, and extended warranty coverage.

6. Amex Offers: American Express often provides special offers and discounts to its cardholders, allowing you to save even more on eligible purchases.

Considerations:

1. Annual Fee: While the card's cashback rates are generous, the annual fee should be considered. Make sure your spending habits align with the card's reward categories to maximize the value and justify the fee.

2. Foreign Transaction Fees: This card has foreign transaction fees, so it's not the best option for international travel or making purchases in foreign currencies.

3. Category Limits: The 6% cash back at U.S. supermarkets is limited to the first $6,000 in purchases per year. After reaching this threshold, the cashback rate drops to 1% for supermarket purchases. Additionally, streaming subscriptions must be eligible services to earn the 6% cash back.

4. Credit Approval: Approval for the Blue Cash Preferred® Card is based on your creditworthiness. Make sure your credit score is in line with the card's requirements before applying.

The Blue Cash Preferred® Card from American Express can be an excellent choice for consumers who spend a significant amount on groceries, streaming services, gas, and transit. However, it's essential to weigh the annual fee against the potential rewards and ensure that the card aligns with your spending habits and financial goals. Keep in mind that card features and offers can change, so it's a good idea to check the most up-to-date information on the card, including its terms, fees, and rewards, on the American Express website or by contacting the issuer directly.