Blue Cash Preferred Card: Maximizing Your Rewards

Our review of the Blue Cash Preferred Card covers its 6% cash back on groceries and streaming, welcome offer, and other key benefits. Find out if this is the right rewards card for your wallet.

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Finding a credit card that truly rewards your everyday spending habits can be a game-changer for your budget. The American Express Blue Cash Preferred Card consistently emerges as a top contender, designed for consumers who want to earn significant cash back on daily essentials.

This card boasts impressive rewards rates on groceries and streaming, a valuable welcome offer for new members, and a 0% introductory APR period. In this article, we’ll dive deep into the features, benefits, and costs associated with the Blue Cash Preferred Card to help you determine if it’s the perfect fit for your financial strategy. Read on!

Smiling woman working on a laptop in a cozy office space, with the American Express Blue Cash Preferred card floating in the foreground. The card features a design with the statue of liberty and 'Member Since 16

How the Credit Card Works

The Blue Cash Preferred Card operates on a straightforward yet powerful rewards system. For every dollar you spend in its specified bonus categories, you earn a percentage back in the form of “Reward Dollars.” These dollars accumulate in your account, and you can easily redeem them as a statement credit, effectively lowering your bill, or use directly for purchases at Amazon.com.

This card is fits perfectly for individuals or families with consistent, high spending on groceries, select U.S. streaming services, gas, and transit. Ideal applicants are savvy consumers who want to maximize returns on their daily expenses and are organized enough to track different reward categories.

They often use features like the Amex App to manage their account, split bills with friends using Send & Split, and add special Amex Offers for even more savings.

What are the main advantages of Blue Cash Preferred?

The Blue Cash Preferred Card packs a punch with several valuable benefits designed for everyday life. Here are its five main advantages:

  • Introductory APR Period: Enjoy financial flexibility with a 0% intro APR on both new purchases and balance transfers for your first 12 months of card membership.
  • Top-Tier Grocery Rewards: Earn an industry-leading 6% cash back at U.S. supermarkets on up to $6,000 in spending annually (then 1%), making it ideal for family grocery bills.
  • Generous Welcome Offer: New card members can earn a $300 statement credit after spending $3,000 in the first six months, providing significant upfront value.
  • Entertainment Savings: Get 6% back on a wide range of select U.S. streaming services, plus a $7 monthly statement credit for the Disney Bundle (up to $84 per year).
  • Commuting and Transit Rebates: Receive a solid 3% cash back on transit (including rideshares, tolls, and buses) and at U.S. gas stations, covering your daily travel costs.

Disadvantages

While the Blue Cash Preferred Card offers outstanding rewards, it has drawbacks to consider. These trade-offs might make it less suitable for certain spenders.

  • Annual Fee: After the first year’s introductory offer, the card has a $95 annual fee. You must earn enough cash back to offset this cost.
  • Grocery Spending Cap: The top-tier 6% cash back at U.S. supermarkets is capped at $6,000 per year, dropping to 1% afterward.
  • Focused Bonus Categories: High rewards are limited to specific U.S. categories like groceries, streaming, gas, and transit. All other purchases earn a standard 1%.
  • Variable APR: After the 12-month 0% intro period ends, the variable APR can be high, making it costly if you carry a balance.

Rates and Fees of Blue Cash Preferred

Understanding the costs is key for this card. The Blue Cash Preferred Card has specific fees. For example, it has a $0 intro annual fee for the first year. After that, the annual fee is $95.

New purchases have a 0% introductory APR for 12 months, and the same applies to balance transfers. Then, the APR becomes variable, from 20.24% to 29.24%.

Balance transfers have a 3% fee, with $5 as the minimum. Also, cash advances have a 5% fee, with $10 as the minimum. Foreign transactions have a 2.7% fee, and late or returned payments can cost up to $40. Finally, a penalty APR of 29.99% could also apply.

Requirements and eligibility criteria

To get the Blue Cash Preferred Card, you need good to excellent credit. American Express reviews your credit report and score, so applicants usually have a credit score of 670 or higher.

You must be at least 18 years old, and a U.S. physical address is also required. You will need a Social Security Number or ITIN to apply. The application asks for your total annual income.

The welcome offer has important restrictions, such as not being available to former cardholders. Amex may also consider the number of other cards you have, which can affect your eligibility for the bonus offer.

How to get a Blue Cash Preferred Card

  1. Application Process:
    • The easiest way to apply is online. So, go to the American Express website.
    • Then, fill out the application form with your personal details. This includes your name, address, and income.
    • Amex may offer an instant decision, which happens within minutes.
    • You can use their “Apply with Confidence” tool to check your eligibility without impacting your credit score.
  2. Tips for Approval:
    • Check your credit score beforehand. Aim for a score of 670 or higher.
    • Pay down other credit card balances. This lowers your credit utilization.
    • Ensure all information on your application is accurate.
  3. Receiving Your Card:
    • After approval, your card arrives by mail. This usually takes 7-10 business days.
    • Sometimes, you get an instant card number. You can use it for online shopping right away.
  4. If You Don’t Get Your Approval:
    • Amex will mail you a letter to explain the reasons for the denial.
    • You can call the Amex reconsideration line to ask them to review your application again.
    • Work on improving your credit before you reapply.

Conclusion

The Blue Cash Preferred Card is a top-tier rewards card and it is especially valuable for everyday spending. Its 6% cash back on U.S. supermarkets and streaming is hard to beat. The 3% back on transit and U.S. gas is also a strong benefit. These features make it a powerhouse for many households.

However, the card is not for everyone. The annual fee means you must spend enough to make it worthwhile. The spending cap on grocery rewards is also a key limitation. Furthermore, this card is best for people whose spending habits align with its bonus categories. So, if your budget fits its structure, it offers exceptional value.

If you believe this card is the right choice for you, you can find more information and apply on the website of American Express by clicking here!

START THE APPLICATION FOR BLUE CASH PREFERRED

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