American Express Blue Cash Preferred Credit Card Review

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Not going anywhere these days? So maybe a travel rewards credit card makes less sense to you than in the past.

Maybe now you should consider a credit card that offers cash back for things you do at home, rather than purchases you make while traveling, traveling, or going out. The American Express Blue Cash Prefered is not a new card, but it is a card that seems to work well with many people’s spending habits and lifestyles in 2020.

American Express Blue Cash Preferred: Key Terms

  • Welcome bonus: New applicants can earn $ 300 in cash after using their card to spend $ 1,000 within three months of opening the account.
  • Awards: 6% Cash Back at U.S. Supermarkets. (also up to $ 6,000 per year, then 1%), 6% cash back on select US streaming entertainment subscriptions, 3% off transit and gas station purchases and 1% elsewhere.
  • Annual subscription : $ 95
  • Promotional financing offer: 12 months of 0% APR financing on new purchases.
  • Standard APR: 13.99% to 23.99%

How the Amex Blue Cash Preferred Card works

For starters, you can earn $ 250 in cash back when you spend $ 1,000 within three months of opening the account. New accounts will also receive 12 months of 0% APR financing on new purchases.

The key to Favorite Blue Silver the offer of the card is its reward, especially if you regularly cook dinner at home and relax with your favorite streaming services. First and foremost, you’ll earn 6% cash back on your first $ 6,000 spent each year at US supermarkets. You also receive 6% cash back on your purchases from select US entertainment streaming subscriptions like Netflix, Hulu and Apple Music, plus 3% discount on public transport (including carpooling, buses and trains) and gas station purchases, and 1% on other purchases.

Benefits include rental car insurance and return protection. There is an annual fee of $ 95 for this card.

Advantages

The two main benefits of this card are the 6% cash back in supermarkets and streaming services, and the $ 250 welcome bonus. Plus, the 3% rewards on gas and transit purchases are at least as valuable as what you would find on other competing cards.

Disadvantages

The annual fee of $ 95 is an obvious problem for a lot of people, especially when there are so many other good cash back cards out there with. no annual fee the low. However, when you do the math, you’ll realize that the annual fee of $ 95 might be worth it. When you factor in the excellent cash back possibilities of this card, you might stand out against similar cards with no annual fee, such as American Express Blue Cash Everyday. Also, another downside is that Blue Cash Preferred only offers 1% cash back for restaurants and delivery services (and all other purchases), at a time when takeout and delivery orders are. more popular than ever.

Alternatives: Great cash back cards with no annual fee

Hunt unlimited freedom. In addition to offering 1.5% cash back on all purchases, no limit, Unlimited freedom huntthe current offer also includes 5% discount on grocery store purchases (excluding Target® or Walmart® purchases) up to $ 12,000 spent in the first year. There is no annual fee for this card.

American Express Blue Cash daily. This free card offers 3% cash back at US supermarkets (up to $ 6,000 spent annually), 2% cash back at gas stations and select US department stores, and 1% cash back elsewhere.

Citi Double Cash. Instead of bonus categories, Citi Double Cash offers up to 2% cash back on all purchases, no limit. You get 1% cash back at the time of purchase and an additional 1% cash back when you pay for your purchases, for a total cash back of up to 2%. There is no annual fee for this card.

Conclusion: is the Blue Cash Preferred card worth it?

The American Express Blue Cash Preferred has always been a large rewards card for those who often stay at home. Now that apparently everyone is homebody, maybe it’s time to take a look at this card.

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More money :

Best Cash Back Credit Cards of 2020

How to Increase Your Chances of Getting Approved for a New Credit Card: A Step-by-Step Guide

Do you need a new credit card suitable for the COVID era?


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