Blue Cash Preferred® Card from American Express Review Credit Card 5 2016-05-25 14:38:39

Blue Cash Preferred® Card from American Express Review

Apply for a Blue Cash Preferred® Card from American Express
Rating:
Bottom Line:
Up to 10% cash back; $150 intro bonus; 0% APR on purchases and balance transfers for 12 months. Terms apply.

Full Review:
The Blue Cash Preferred® Card from American Express (a NextAdvisor advertiser) is a real cash-back money maker and the winner of our Credit Card Cash Back Analysis, earning users 6% cash back at US supermarkets (on up to $6,000 in purchases annually, then 1%), an unlimited 3% at U.S. gas stations and select US department stores as well as 1% on everything else. In addition, if you apply by June 15, you will also earn an amazing 10% cash back at US wireless phone service providers in 2016 (up to $200 cash back).

You'll earn 6% back at supermarkets - the highest cash back rate we've seen, making the Blue Cash Preferred® Card from American Express a terrific choice for anyone who spends a significant amount on groceries. Additionally, commuters and others can take advantage of the generous 3% on gas, and shoppers everywhere will appreciate an unlimited 3% back at select department stores like JCP, Kohls, Macys, Sears and Nordstrom. The card does have a $75 annual fee, but if you have the spending habits of most people you'll more than earn it back each year (to find out for sure use our free Cash Back Credit Card Calculator).

On top of the standard 6%, 3% and 1% cash back rewards mentioned above, Blue Cash Preferred® Card from American Express features a special limited-time offer. If you apply by 6/15/16, you'll earn 10% cash back at wireless phone service providers in 2016 (up to $200). That means from now until the end of 2016 you'll get 10% back when you use your card at any wireless phone service provider to pay for your mobile phone bill, a phone, or phone accessories, resulting in up to $200 extra cash back! Combine those high cash back earnings with a $150 bonus (redeemable for $150 statement credit) after you spend $1,000 in the first 3 months and you've got a great cash back card. Together you have a possible $350 bonus - pretty darn generous.

Blue Cash Preferred's 12-month 0% introductory APR on purchases and balance transfers is great way to save money on interest fees for over a year. With this no-interest APR you can make purchases now and pay absolutely zero interest for 12 months. You can also transfer your balances from other high-APR cards to this one, taking advantage of the 0% APR to pay down your balance and save some money on interest fees. There is a 3% balance transfer fee, but depending on how much interest you're currently paying and how much it might cost you to transfer your balance to this card it could be worth it.

The Blue Cash Preferred® Card from American Express also features chip-enabled technology, allowing you to make international purchases easily. Non-U.S. countries are requiring this technology with a greater frequency, so having it allows you to make the purchases you want without an issue. Note that this card does charge a 2.7% foreign transaction fee on all purchases made outside the U.S., so it's important to take that into consideration.

In sum, this is a terrific cash back card with generous rewards and a lengthy 0% intro APR on balance transfers and purchases. It will particularly appeal to those who spend more on wireless phone services, groceries, gas and department stores.

Highlights
  • Special Offer - Get up to $350 back. Offer Ends 6/15/2016.
  • Get Cash Back: 6% U.S. supermarkets up to $6,000 per year in purchases (then 1%); 3% U.S. gas stations & select U.S. dept. stores; 1% other purchases. Terms and limitations apply.
  • With the Blue Cash Preferred® Card, you can get cash back. No rotating reward categories. No enrollment required.
  • Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. You can only get cash back on eligible purchases.
  • 0% intro APR on purchases and balance transfers for 12 months, then a variable rate, currently 13.24% to 23.24%, based on your creditworthiness and other factors.
  • Terms and restrictions apply.

Rewards
  • Unlimited cash back rewards (6% cash back on groceries is capped at $6K annually, after that you'll earn 1%).
  • Get $150 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive $150 back in the form of a statement credit
  • Earn 10% cash back at U.S. wireless telephone service carriers in 2016 up to $200 back. Requires card application by 6/15/16.
  • Earn 6% cash back at U.S. supermarkets (excluding superstores and warehouse clubs) up to $6,000. After the first $6,000 of purchases in a calendar year users will earn 1% cash back.
  • Earn 3% at U.S. gas stations and select department stores.
  • Earn 1% on all other eligible purchases.

Redeem Rewards
  • Redeem reward dollars for statement credits in increments of $25 whenever your total available reward dollar balance is $25 or more.
  • Minimum redemption is 25 reward dollars.

Fees and APR
  • Annual Fee: $75
  • Purchase APR: 0% on Purchases for 12 months,then 13.24%-23.24% Variable, based on creditworthiness.
  • Balance Transfer APR: 0% on Balance Transfers for 12 months, then 13.24%-23.24% Variable, based on creditworthiness.
  • Balance Transfer Fee: Either $5 or 3% of the amount of each transfer, whichever is greater.
  • Foreign Transaction Fee: 2.7% of each transaction after conversion to US dollars.
  • Late Payment Fee: Up to $37
  • Cash Advance Fee: Either $5 or 3% of the amount of each cash advance, whichever is greater.
  • APR for Cash Advances: 25.49%
  • Penalty APR: 29.49%
  • Returned Payment Fee: Up to $37.


Apply for a Blue Cash Preferred® Card from American Express

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Card Details

Purchase APR:0% on Purchases for 12 months, then 13.24%-23.24% Variable
Features:10% cash back at US wireless phone service in 2016 (up to $200), 6% cash back at US supermarkets (up to $6K), 3% cash back on US gas & select US dept stores; 1% cash back on other purchases. $150 intro bonus after spending $1K in first 3 mos. Terms apply.
Annual Fee:$75
Credit Needed:Excellent

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