Amex Blue Cash Preferred®: Honest Review

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American Express Blue Cash Preferred

When it comes to effectively spending money at grocery stores, on streaming subscriptions and transit options like taxis and trains, the Blue Cash Preferred^® Card from American Express always stands outs. This is largely due to offering generous cash back (received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout) on eligible purchases in these categories.

To some, this credit card is a supercharged version of the Blue Cash Everyday® Card from American Express. Reading through this review will make this clear, and help you decide if it’s the right option for you.

Learn more about Blue Cash Everyday® Card from American Express HERE

Credit Card Overview

At some point in your credit card journey, you may become ready to transition from no annual fee options to a rewards card which offers even more benefits. A widely popular option for making this next step is the Blue Cash Preferred Card.

Despite having an annual fee of $95, after a $0 introductory annual fee in your first year (See Rates & Fees), this credit card provides valuable rewards that can enhance your everyday spending. Plus, using this card smartly for its cash back perks can fully offset the annual fee and still leave you with extra cash in your pocket.

Even further, new cardholders can benefit from a welcome bonus which we cover in more detail in the next section.

Welcome Bonus

Earn a $250 statement credit after spending $3,000 in eligible purchases within the first 6 months of opening your card. This can be a great way to kickstart your rewards journey with the Blue Cash Preferred Card.

Now let’s uncover some other benefits that this credit card has.

Pros

• Cash Back (received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout) based on the below:
  • 6% at U.S. Supermarkets (Up to $6,000 per year, then 1% cash back) 
  • 6% on select U.S. streaming subscriptions
  • 3% on transit (including taxis/rideshare, parking, tolls, trains, buses and more) and
  • 3% at U.S. gas stations
  • 1% on all other purchases

(Terms Apply)

Although this credit card can be an excellent option for many, make sure to read through the below potential shortcomings.

Cons

• Foreign Transaction Fees
• $95 Annual Fee
• 6% cash back on U.S. Supermarkets cap of $6,000 in purchases
• Some merchants do not accept AMEX cards (due to relatively high interchange fees)

Recap

At the end of the day, the Blue Cash Preferred remains a top choice for consumers who frequently spend in these categories with strong cash back. While there is an annual fee, the cost is often manageable and can be fully offset with effective use every single year.

Looking for a no annual fee option instead? Read our review of Capital One Quicksilver Cash Rewards Credit Card – offering 0% foreign transaction fees, and 1.5% cash back on all purchases.

Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Card Members are responsible for the costs charged by third-party service providers

Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.