Blue Cash Preferred® Credit Card from American Express Review
In a sea of cash back credit cards, the Blue Cash Preferred® Card from American Express is a standout for shoppers who want to spend and save at the same time.
The card comes packed with perks, including the ability to earn 6% cash back when shopping at U.S. supermarkets (up to the first $6,000 spent per year in this category).
Beyond that, the card pays 3% cash back at U.S. gas stations, transit purchases, and 6% cash back on select U.S. streaming subscriptions, along with 1% back on other eligible purchases.
The also comes with the chance to earn all the travel, shopping and entertainment benefits that you’d expect with an American Express credit card.
In this Blue Cash Preferred Card from American Express review, we'll compare rates, fees, and services to other credit cards.
*See Rates & Fees. Terms Apply.
Blue Cash Preferred Card from American Express Pros & Cons
Blue Cash Preferred Card: Main Benefits
If you’re shopping around for a new cash back credit card, you want to know exactly what you’re getting before you sign up.
Here are some reasons why the Blue Cash Preferred Card from American Express should be in your wallet:
Simple rewards structure
The Blue Cash Preferred Card from American Express gives you three ways to earn cash back but you don’t have to juggle any rotating spending categories. This card has a great rewards earning potential without any added hassles.
Many American Express card offerings are charge cards, which means you have to pay in full each month.
The Blue Cash Preferred Card from American Express gives you the option of carrying a balance from month to month.
Easy rewards redemption
The cash back you earn with the Blue Cash Preferred Card from American Express is paid out as Reward Dollars, which you can easily redeem for statement credit.
The Blue Cash Preferred Card: Best Features
The biggest selling point of this card is the cash back rate at U.S. supermarkets.
As a common spending category for U.S. households, cardmembers have the potential to earn a large amount of cash back on necessary spending.
The other bonus cash back categories are also very enticing as they also offer a great cash back rate.
Additional card highlights
To round out our review and spare you the trouble of having to read the fine print, we’ve broken down the rest of the Blue Cash Preferred Card from American Express key features.
While the best reason to choose the Blue Cash Preferred Card from American Express is the cash back program, that’s not all you get.
The card also comes loaded with extras that can make traveling, shopping or enjoying a night on the town easier, including:
- Roadside assistance hotline
- Car rental loss and damage insurance
- Exclusive ticket access for selected entertainment events
- Return protection
All of these extras are included at no extra charge as long as your account is open and in good standing.
Since you have the option to carry a balance with the Blue Cash Preferred Card from American Express that means you’ll be paying interest on what you spend but luckily, it doesn’t kick in right away.
As far as the fees go, there is a $95 annual fee (waived the first year) (see Rates & Fees; terms apply).
Other fees include (see Rates & Fees; terms apply):
- Cash advance fee – Either $10 or 5%, whichever is greater
- Foreign transaction fee – 2.7% of each purchase
- Late payment fee – Up to $40
- Returned payment fee – Up to $40
There’s no penalty for going over your limit but maxing out your card can hurt your credit score. Keeping the balance low is the best way to maintain a good score.
The Blue Cash Preferred Card from American Express has EMV chip technology, which offers an added layer of security protection when you’re paying for purchases in-store
All you have to do to activate the chip’s security protections is use the store’s chip reader when paying at the checkout.
Final verdict: Is the Blue Cash Preferred Card from American Express right for you?
Whether you’re picking up gift cards to your favorite retailers or grabbing something quick for dinner, the can’t be beaten for earning cash back at the supermarket.
The fact that it has a $95 annual fee on year two and a 2.7% foreign transaction fee makes it a less than ideal choice if you don’t spend at least $132 a month on grocery purchases or you do a lot of traveling outside the U.S.
Ultimately, we’d recommend the Blue Cash Preferred Card from American Express to anyone who uses credit at the supermarket and gas station on a regular basis and wants the flexibility of being able to carry a balance.
See the rates & fees for the mentioned American Express cards: Blue Cash Preferred from American Express (Rates & Fees; terms apply).