Blue Cash Preferred® Card from American Express - Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.

Overview of the Blue Cash Preferred® Card from American Express

The Blue Cash Preferred® Card from American Express is designed for those who want to maximize their cash back rewards on everyday purchases. With a generous rewards program, this card offers an array of benefits including a substantial statement credit for new cardholders, a competitive cash back structure, and flexible payment options. The card has an introductory annual fee of $0 for the first year, making it an attractive choice for new members.

Pros

One of the standout features of the Blue Cash Preferred® Card is its lucrative cash back rewards. Cardholders can earn 6% cash back at U.S. supermarkets on up to $6,000 in purchases each year, which can significantly enhance savings for families or individuals who frequently shop for groceries. Additionally, this card offers 6% cash back on select U.S. streaming subscriptions, making it a great option for entertainment enthusiasts.

The card also provides 3% cash back at U.S. gas stations and on transit, covering a wide range of expenses from fuel to public transportation. For those who use their card for various purchases, earning 1% cash back on other purchases ensures that cardholders are always benefitting from their spending.

New cardholders can take advantage of a $250 statement credit after spending $3,000 in eligible purchases within the first six months, which can be an excellent incentive for those looking to maximize their rewards right from the start. Furthermore, the card allows for "Buy Now, Pay Later" options with $0 intro plan fees for the first year, giving customers the flexibility to manage larger purchases over time.

Cons

While the Blue Cash Preferred® Card has many advantages, there are a few drawbacks to consider. After the first year, the annual fee is $95, which may deter individuals who are looking for a no-annual-fee credit card. It's important for potential cardholders to assess whether the cash back rewards they earn will offset this fee.

Additionally, while the card offers a competitive cash back structure, the 6% cash back at U.S. supermarkets is capped at $6,000 annually. Once this limit is reached, the cash back rate drops to 1%, which may be less appealing for heavy grocery shoppers. Furthermore, the card's cash back is received in the form of Reward Dollars, which can only be redeemed as statement credits or at Amazon.com checkout, possibly limiting redemption flexibility for some users.

Why We Like This Card

• Generous cash back rewards on groceries and streaming services.
• Significant introductory statement credit opportunity for new cardholders.
• Flexible payment options with the "Buy Now, Pay Later" feature.
• Cash back rewards enhance savings on everyday expenses.
• The $0 intro annual fee for the first year allows users to assess the card's value without immediate costs.

In summary, the Blue Cash Preferred® Card from American Express offers a strong rewards program, particularly for those who spend significantly on groceries and streaming services. While there is an annual fee to consider after the first year, the potential for cash back rewards and added benefits may outweigh the costs for many users. Overall, this card is an excellent option for individuals seeking to maximize their cash back potential on everyday purchases.