Blue Cash Preferred® Card from American Express Review Credit Card 5 2015-12-18 11:37:05

Blue Cash Preferred® Card from American Express Review

Apply for a Blue Cash Preferred® Card from American Express
Rating:
Bottom Line:
Up to 6% cash back on everyday spending; $150 intro bonus; 0% APR on purchases and balance transfers for 15 months. Terms apply.

Full Review:
Blue Cash Preferred® Card from American Express (a NextAdvisor advertiser) is a real cash-back money maker, earning users an amazing 6% cash back at US supermarkets (on up to $6,000 in purchases annually, then 1%), 3% at U.S. gas stations and select US department stores as well as 1% on everything else.

6% back at supermarkets is the highest cash back rate we've seen, making Blue Cash Preferred a terrific choice for anyone who spends a significant amount on groceries. Plus, commuters and others can take advantage of the generous 3% on gas, and shopper everywhere will appreciate 3% back at select department stores like JCP, Kohls, Macys, Sears and Nordstrom. 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. 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).

Blue Cash Preferred's 15-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 15 months. You can also transfer your balances from other high-APR card 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.

Blue Cash Preferred 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 groceries, gas and department stores.

Highlights
  • 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
  • Hassle-free cash back: no enrollment required, the same great reward categories year-round.
  • Earn Cash Back: 6% US supermarkets up to $6,000 per year in purchases (then 1%), 3% US gas stations & select US dept stores, 1% other purchases. Terms and limitations apply.
  • With the Blue Cash Preferred® Card, you can start earning 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. Cash back is earned only on eligible purchases.
  • 0% intro APR on purchases and balance transfers for 15 months, then a variable rate, currently 13.24% to 22.24%, based on your creditworthiness and other factors.
  • Terms and limitations 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 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
  • $75 annual fee.
  • 0% Intro APR: 0% APR introductory rate for 15 months on purchases and balance transfers, then purchase APR.
  • Purchase APR: 13.24% - 22.24% Variable, depending on credit history.
  • Balance Transfer APR: 0% intro APR for 15 months on balance transfers, then 13.24% - 22.24% Variable, depending on credit history.
  • Balance Transfer Fee: Balance transfer fee is $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

Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author's alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.

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Card Details

Purchase APR:0% for 15 months, then 13.24%-22.24% Variable
Features: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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