The Blue Cash Preferred® Card from American Express is a standout among cash back credit cards, offering a robust suite of rewards, benefits, and features tailored to meet the needs of a diverse range of consumers.
This review explores the key aspects of the card, including its rewards structure, fees, and additional benefits, to help potential cardholders make an informed decision.
Rewards Structure
The Blue Cash Preferred® Card is renowned for its lucrative cash back rewards program, which is particularly advantageous for households with significant spending on groceries, streaming services, and transportation.
Here’s a breakdown of the rewards:
6% Cash Back at U.S. Supermarkets: Cardholders earn 6% cash back on purchases at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). This makes it one of the best cards for grocery shopping.
6% Cash Back on Select U.S. Streaming Subscriptions: Enjoy 6% cash back on eligible streaming services, which include popular platforms like Netflix, Hulu, and Spotify.
3% Cash Back at U.S. Gas Stations and on Transit: This category includes purchases at U.S. gas stations and on transit services such as taxis, rideshares, parking, tolls, trains, and buses.
1% Cash Back on Other Purchases: All other purchases earn 1% cash back, providing a consistent reward on everyday spending.
The cash back earned is received in the form of Reward Dollars that can be redeemed as statement credits.
Annual Fee
The Blue Cash Preferred® Card comes with an annual fee of $0 introductory for the first year, then $95.
While the fee might deter some potential applicants, the high earning rates in essential spending categories can quickly offset this cost, making it a worthwhile investment for many households.
Welcome Offer
New cardholders can take advantage of a generous welcome offer: Earn a $250 statement credit after spending $3,000 in purchases on your new card within the first 6 months.
This welcome offer can provide a significant boost to your cash back earnings in the first year.
Additional Benefits
Beyond the impressive cash back rewards, the Blue Cash Preferred® Card offers a range of additional benefits that enhance its value proposition:
0% Intro APR: Enjoy a 0% introductory APR on purchases for the first 12 months from the date of account opening. After that, a variable APR will apply.
Return Protection: If a merchant won’t accept a return within 90 days of purchase, American Express may refund the full purchase price up to $300 per item (up to a maximum of $1,000 per calendar year).
Purchase Protection: This benefit covers purchases against accidental damage and theft for up to 90 days from the date of purchase, with coverage up to $1,000 per occurrence.
Extended Warranty: Extends the manufacturer’s warranty by an additional year on warranties of five years or less.
Car Rental Loss and Damage Insurance: Provides secondary coverage for theft or damage to a rental vehicle.
Global Assist® Hotline: Offers 24/7 access to medical, legal, financial, and other emergency assistance services when traveling more than 100 miles from home.
Drawbacks
While the Blue Cash Preferred® Card has many strengths, it’s important to consider a few potential drawbacks:
Foreign Transaction Fees: The card charges a 2.7% fee on purchases made outside the United States, making it less ideal for international travel.
Annual Fee: Although the card offers high rewards rates, the $95 annual fee may not be justifiable for those with lower spending in the bonus categories.
Conclusion
The Blue Cash Preferred® Card from American Express stands out as a top choice for individuals and families who spend significantly on groceries, streaming services, and transportation.
Its high cash back rates, combined with a valuable welcome offer and a suite of additional benefits, make it a compelling option despite the annual fee.
However, those who frequently travel internationally or who have minimal spending in the card’s bonus categories may want to explore other options.
Ultimately, the Blue Cash Preferred® Card is an excellent tool for maximizing cash back rewards and enhancing the value of everyday purchases.
Richard Lopez, the creator of the website and a professional writer with extensive experience in digital marketing, particularly in personal finance topics. When visiting finance.meu-dominio.com, you’ll find high-quality content guiding you through the subjects that are part of your daily life. Welcome to all!