Blue Cash Preferred® Card from American Express Review
First off, you'll get a sweet $150 cash back bonus after spending $1,000 on the card in the first 3 months. And the card offers great everyday cash back too - 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. Plus you'll get a generous 5% back on eligible travel purchases made in the first 6 months you have the card, up to a maximum of $200 cash back. All other purchases will earn a standard 1% cash back. The card does have a $95 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). Or, if you'd prefer a card with no annual fee, consider its sister card the no-fee Blue Cash Everyday Card from American Express, which offers similar cash back rewards, a 0% intro APR and a $100 cash back bonus.
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 a great $150 cash back bonus, generous ongoing 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.
- Special Offer - Earn 5% cash back on eligible travel purchases in the first 6 months, up to $200.
- Plus, earn $150 back after you spend $1,000 in purchases on your new Card within the first 3 months.
- You will receive cash back in the form of statement credits.
- Everyday Cash Back: 6% at U.S. supermarkets on up to $6,000 per year in purchases (then 1%); 3% at U.S. gas stations; 1% other purchases. Terms and limitations apply.
- 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 earn 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 Conditions apply.
- 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.
- Unlimited cash back rewards (6% cash back on groceries is capped at $6K annually, after that you'll earn 1%).
- 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: $95
- 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.
|Purchase APR:||0% on Purchases for 12 months, then 13.24%-23.24% Variable|
|Features:||Earn 6% cash back at US supermarkets (up to $6K), 5% back on travel purchases made in first 6 mos (max of $200 back), 3% back on US gas & select US dept stores; 1% back on other purchases. $150 intro bonus after spending $1K in first 3 mos. Terms apply.|
|Credit Needed:||Excellent, Good|
NextAdvisor Credit Cards Blog Headlines
- What Kind of Balances Can I Transfer to My Credit Card?
The benefits of performing a balance transfer are plentiful, allowing you to take advantage of a new credit card with […]
- Get a $300 Cash Back Bonus with the Ink Cash Business Credit Card
Effective today you can earn a $300 cash back bonus with the Ink Cash Business Credit Card. Learn how and read more about the card's generous ongoing cash back rewards
- Earn 2 Free Nights with the Starwood Preferred Guest Business Credit Card from American Express
If you’re a business owner who frequently stays at any Starwood hotels and resorts, like the Sheraton or The Westin, […]
- Best Secured Credit Cards for Rebuilding Your Credit
Whether you have poor credit or no credit, there are still opportunities for you to work toward improving your credit […]
Related Forum Posts
- Can you use Blue Cash Preferred from American Express at Costco?
Yes, currently Costco accepts American Express cards so you can use Blue Cash Preferred from American Express at Costco. You will earn the standard 1%[...]
- Does Costco earn 6% with the Blue Cash Preferred from American Express?
Per the American Express site for Blue Cash Preferred Card from American Express, "warehouses clubs (e.g. Costco) and big box stores (e.g.[...]
- How do I apply for Blue Cash Preferred Card from American Express?
It's easy to apply for the Blue Cash Preferred Card from American Express. Just go to the review page link shown below, and click on the Apply link in[...]
- What gas stations earn 3% with the Blue Cash Preferred from American Express?
According to the Blue Cash Preferred from American Express card terms and conditions, you'll earn "3% on eligible purchases of gasoline at gas[...]
- Do have to pay your full balance each month with Blue Cash Preferred from American Express?
No, you don't have to pay your entire balance each month with the Blue Cash Preferred from American Express. You will receive a bill each month with a[...]