pay no annual feeWhile this information was accurate at the time this post was published, these cards’ offers and perks may have expired or changed over time. Visit our reviews of the best credit cards to find the right card for your needs.

When it comes to earning cash back, few credit cards pack as big of a punch as the Blue Cash Preferred Card from American Express (a NextAdvisor advertiser), and now you can “test drive” this top-rated money-maker for free. For a limited time, new cardholders will get the annual fee waived for their first year — usually it’s $95/year. That’s a significant savings, especially when you consider how much cash back earning potential this card offers. Wondering what else makes the best cash back credit card we’ve reviewed worth trying out? Keep reading to find out.

What you get with Blue Cash Preferred Card from American Express

As we already said, the Blue Cash Preferred Card from American Express is a cash back money-making machine. You’ll earn a whopping 6% cash back on up to $6,000 in purchases a year at U.S. supermarkets (purchases after the $6,000 threshold earn 1% cash back), uncapped 3% cash back at U.S. gas stations and select U.S. department stores (such as JCP, Kohl’s, Macy’s, Sears and Nordstrom) and uncapped 1% cash back on everything else. If you spend the maximum amount a year at the grocery stores ($500/month, which isn’t hard to do for many families), then you’ll be looking at $360 cash back annually, just on the groceries you already buy. As an added bonus on top of these ongoing rewards, if you spend $1,000 on purchases within the first 3 months, you’ll earn $150 cash back. You can redeem your rewards in increments of $25 or more as a statement credit or for gift cards, merchandise or travel.

Other benefits of this credit card include purchase protection, which protects items you buy against accidental damage or theft for 90 days, return protection, which acts as a safeguard against merchants not accepting a return within 90 days of purchase (if this happens, American Express may refund the item up to $300 per item, up to $1,000 annually) and extended warranty, which extends the terms of the manufacturer’s warranty up to a year.

Potential downsides to consider

Although it’s certainly king when it comes to cash back, it’s important to note that Blue Cash Preferred Card from American Express does not offer a 0% intro APR on purchases or balance transfers. That may not matter to some, but others might be disappointed if they are planning on transferring a balance or making purchases which will require some extra time to pay off. Additionally, though the $95 annual fee is waived your first year, it will return after that and could be a deal-breaker for someone who would rather pay no annual fee ever. Fortunately, this credit card has a sister card, the Blue Cash Everyday Card from American Express, which might be a smart alternative.

For starters, Blue Cash Everyday Card from American Express offers 12 months of 0% intro APR on both purchases and balance transfers (note that there is a balance transfer fee of $5 or 3%, whichever is higher). You’ll earn 3% cash back on purchases at U.S. grocery stores (up to $6,000/year, then it’s 1%), 2% cash back at U.S. gas stations and select U.S. department stores and 1% cash back on everything else. Depending on how much your monthly spending averages out to, this might be a more sensible choice for a cash back credit card, and you will pay no annual fee with this card because there isn’t one associated with this card at all. Plus, spend $1,000 on purchases in your first 3 months, and you’ll get a $100 cash back bonus. Since they’re sister cards, many of the benefits we outlined above also apply to this card.

Both of these credit cards are designed for people with good credit or better (usually considered a credit score of 700 or higher), so keep that in mind before applying for either of them. Still not sure? You can view our list of the best cash back credit cards to see how these cards from American Express compare to others. If you want to take advantage of the Blue Cash Preferred Card’s limited-time offer, visit our Blue Cash Preferred Card from American Express review to learn more and apply online.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.