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Last updated on April 26th, 2022
Blue Cash Preferred® Card from American Express
- Regular Purchase APR 16.24% to 26.24% variable based on creditworthiness the Prime Rate
- Cash Advance APR 27.49% variable based on the Prime Rate
- Annual Fee $95
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- Intro Purchase APR 0% for 12 months from account opening date
- Processing Network American Express
- Earn a $350 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
- Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It(R) to split up large purchases into monthly installments. Pay $0 plan fees on plans created during the first 12 months after account opening. Plans created after that will have a fixed monthly plan fee up to 1.33% of each 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% intro APR for 12 months on purchases from the date of account opening, then a variable rate
- 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
- $95 Annual Fee
- Terms Apply
- Intro Purchase APR: 0% for 12 months from account opening date
- Regular Purchase APR: 16.24% to 26.24% variable based on creditworthiness the Prime Rate
- Cash Advance APR: 27.49% 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: $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
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 $400 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.
Ideal for Those Who:
- Budget for family spending and want a credit card that earns significant cash back.
- Will 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).
- Are excited at the prospect of earning 6% cash back with select streaming services.
- Want to capitalize on your commute with 3% cash back at U.S. gas stations (and select U.S. department stores).
- Will take advantage of 3% cash back on transit (taxis/rideshare, parking and tolls, trains, buses and more), and 1% on all other purchases.
- Are likely to make $3,000 in purchases within the first six months of the account opening to qualify for a one-time $350 statement credit.
- Cook at home often and commute to work and school regularly, or make use of public transit regularly.
Blue Cash Preferred® Card from American Express Review
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.
Cash Back Bonanza
At 6% cash back at U.S. supermarket purchases on up to $6,000 per year in purchases (then 1% on purchases after that), 3% cash back at U.S. gas stations and select U.S. department stores, and 1% on all other purchases, you’ll be receiving cash back in the form of Membership Rewards Dollars that can be redeemed as statement credits in no time. In this regards the card is somewhat of a competitor for the impressive Chase Freedom Flex (or even the Chase Freedom Unlimited).
A recent update to this card offers cardholders 6% cash back with select streaming subscriptions, and an additional 3% cash back when they pay for transit services like trains and buses, rideshare services, taxis, parking, and tolls using their new American Express card. This is an impressive array of cash back rewards that is not found on more than a handful of rewards cards. Best of all, cash back can be applied towards statement credits, gift cards, and merchandise!
Welcome Offers and a Low Introductory APR
It’s also certainly worth mentioning that the Blue Cash Preferred® Card from American Express grants new cardholders the ability to earn a one-time $350 statement credit after making just $3,000 in purchases within the first six months of opening their account. The ability to earn cash back through this card can be accelerated by adding additional cards for family and other trusted individuals, as their qualifying purchases will also help obtain rewards.
Because of the extra points-earning potential of this card, it has a $95 annual fee, compared to the no annual fee of the American Express Blue Cash Everyday® card. The Preferred® card does, however, feature a 0% intro APR on purchases for 12 months from the date of account opening, then a variable APR between 13.99% to 23.99%.
Also keep in mind that American Express does not allow balance transfers at the moment.
American Express Consumer Protections
American Express offers cardholders a myriad of protections for issues, including both travel benefits (such as vehicle rental loss and damage insurance) and Purchase Protection if an eligible purchase is stolen or accidentally damaged, such as a dropped smartphone. Cardmembers can also take advantage of two payment options: Pay It® or Plan It®. Pay It® allows members to pay off small purchase amounts in one go, whereas Plan It® allows the splitting up of larger purchases into several smaller payments over a number of months (see terms)
With American Express’s Global Assist hotline, you’ll be covered if you experience card issues or your card is lost or stolen, no matter where you are in the world. Get assistance with customs information, lost passport replacement, missing luggage, translation services and even emergency legal and medical referrals.
Shopping and Entertainment
For those who love shopping and entertainment, the Blue Cash Preferred® Card from American Express offers free 2-day shipping through ShopRunner on any eligible purchases from any one of over 100 network online retailers. American Express cardmembers can also use Entertainment Access®, which offers exclusive access to pre-sale tickets for the hottest concert tours sports, and events in your area, as well as tickets to Broadway shows.
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 – in order to offset the nearly $100 annual fee, you’ll need to be focused on spending a lot of money in order 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 Citi Custom Cash℠ Card might be a better fit.
The information related to Citi Custom Cash Card has been collected by BestCards.com and has not been reviewed or provided by the issuer or provider of this product or service.