Earn a $350 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 plan fees on plans created during the first 12 months after account opening. Plans created after that will have a fixed monthly plan fee up to 1.33% of each purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
Low intro APR: 0% intro APR for 12 months on purchases from the date of account opening, then a variable rate, 15.49% to 25.49%
6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
6% Cash Back on select U.S. streaming subscriptions.
3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
1% Cash Back on other purchases.
Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
$95 Annual Fee.
April 5, 2022
In this review of the Blue Cash Preferred® Card, from one of our partners, American Express, we’ll look at who the card is for, its credit score requirements, benefits, rewards rate, key characteristics, and more. Terms apply to American Express benefits and offers. Visit americanexpress.com for more information.
(Click on a link to jump to the specific section)
Let’s get started.
The Blue Cash Preferred® Card is the perfect cash back credit card for everyday purchases. People with decent credit scores can opt for this hassle-free credit card as it offers good benefits, a competitive welcome offer, and great cash back rewards.
This Amex card has extensive cash back coverage across a wide array of purchase categories, including U.S. supermarkets, gas stations, and streaming subscriptions, transit, and essentially everything in between.
This credit card gives you simple cashback in the form of Blue Cash Reward Dollars that can be redeemed as a statement credit, letting you choose what to do with your saved cash.
The Blue Cash Preferred Credit Card can be seen as an upgrade to the popular Blue Cash Everyday® Card as cardholders get to benefit from a higher cash back rate in exchange for a nominal annual fee (See Rates and Fees).
To qualify for the Blue Cash Preferred Credit Card, you’ll need to be in the Good - Excellent credit score range.
What’s a Good credit score?
A FICO® score of 670 or more falls in the Good-Excellent credit score range. A credit score in this range drastically improves your approval odds.
Apart from a credit score, the card issuer may also consider your income, existing debts, and other information.
Here are some of the benefits you can enjoy with this card:
Comprehensive Return Protection - With Return Protection, you may return eligible purchases to American Express if the seller won't take them back up to 90 days from the date of purchase. American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express® Card. Purchases must be made in the U.S. or its territories.
Car Rental Loss and Damage Insurance - Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply.
Global Assist® Hotline - You can rely on Global Assist Hotline 24 hours a day / 7 days a week for medical, legal, financial or other select emergency coordination and assistance services while traveling more than 100 miles away from your home. Third-party service costs may be your responsibility.
Blue Cash Preferred is the ideal rewards card for everyday purchases. It offers great cash back in the form of Blue Cash Reward Dollars on virtually all purchases you make.
Here’s a breakdown of its rewards rate:
For comparison, the Blue Cash Everyday Card, offers 3% cash back at U.S. supermarkets and 2% at U.S. gas stations and select department stores.
If your available Reward Dollars balance is 25 or more, you can redeem them for a statement credit at a rate of 1.00 Reward Dollar to $1.00. Additionally, as long as your AmEx card account is in good standing (not canceled or past due), your Reward Dollars will never expire.
The Blue Cash Preferred Credit Card comes with a $95 annual fee (See Rates and Fees). While this may seem a bit high it’s easily offset by the cash back you earn on day-to-day expenses.
Like other popular credit cards, Blue Cash Preferred has additional fees such as a foreign transaction fee, a cash advance fee, etc (See Rates and Fees).
The foreign transaction fee is 2.7% of each transaction after conversion to U.S. dollars (See Rates and Fees).
American Express charges a cash advance fee of either $10 or 5% of the cash amount of each cash advance, whichever is greater (See Rates and Fees).
Late and returned payments could result in penalty fees of up to $40 (See Rates and Fees).
The AmEx Blue Cash Preferred Card does not support balance transfers.
This credit card issuer waives the APR on purchases for the first twelve months of card membership. The regular purchase APR is 15.49%-25.49% Variable, depending on your creditworthiness (See Rates and Fees).
Tip: This card is a great fit if you’re looking to make a large purchase and want to pay it down over these 12 months at 0% interest (See Rates and Fees).
Blue Cash Preferred comes with a variable cash advance APR of 26.74% (See Rates and Fees).
Additionally, this credit card also carries a variable Penalty APR of 29.99% (See Rates and Fees). When applied, the penalty APR will last for at least six months, after which the card issuer reviews your American Express Card account.
The credit card company gives you at least 25 days after the close of each billing period to pay your credit card bills. If you pay your entire balance each month, then no interest is charged on a purchase (See Rates and Fees).
Next, let’s take a look at some of the key characteristics of this credit card.
Here are some key characteristics of this card:
The Blue Cash Preferred Card is an ideal card for those looking to earn some decent cash back on a day-to-day basis. This Amex card offers a competitive rewards rate coupled with some great benefits native to American Express, the card’s welcome offer is just the icing on the cake.
It's a superior cashback credit card, definitely worth an upgrade from the Blue Cash Everyday Card.
You can apply for this card here.
Rates and fees for the American Express Blue Cash Preferred card can be found here.
Rates and fees for the American Express Blue Cash Everyday card be found here.