Blue Cash Preferred Review

Blue Cash Preferred vs. Blue Cash Everyday Card Top 9 Cards of 2019

8. Blue Cash Preferred from American Express

The Blue Cash Preferred Card from American Express comes in at number eight on our top credit cards of 2019. It is an excellent option for customers looking for cash back at gas stations and super markets, along with new features added earlier this year to include 6% cash back on streaming subscriptions and 3% cash back on transit (taxis, rideshare, parking, tolls, buses, etc).

The Blue Cash Preferred card offers an introductory APR of 0% for the first 12 months on both purchases and balance transfers, and after the first year will reset to your regular APR, which could be anywhere from 14.99 to 25.99%.

While there is an annual fee of $95, there are various welcome offers provided by American Express, including the ability to earn $250 back in the form of statement credit after you spend $1,000 in purchases in the first three months.

While we highlighted the categories that make this card attractive, you also receive 1% cash back on all other purchases. One thing to note, the cash back is received in the form of Reward Dollars from American Express, and that can be redeemed at statement credit.

The Blue Cash Preferred is a step up from the Blue Cash Everyday card Amex offers, and for practical people, this checks a lot of boxes.  If you find yourself purchasing groceries on a weekly basis, the Blue Cash Preferred is a better option than the Amex Gold Card. For many of us that commute to work daily, no matter how you get there, this card gives you benefits. And finally, for those who may have balances on other credit cards (non Amex), the 0% introductory APR for the first 12 months is attractive for balance transfers to help knock down the principal balance faster.

One reminder, the 6% cash back you receive at supermarkets (up to $6,000 annually) will be for purchases made at traditional grocery stores, such as Publix, Winn-Dixie, Harris Teeter, Meijer, or Stop & Shop. If you find yourself buying most of your food at Costco, WalMart or even Amazon, they will only garner 1% cash back.

When it comes to gas stations, transitional places like Exxon, Shell, Hess, and Gulf will qualify. If you buy your gas from a grocery store or Sam’s Club, this again will not qualify. Not sure what Amex has against the warehouse clubs, but shoppers who buy everything from there get no love on the premium categories of the Blue Cash Preferred.

One of the most popular features is the streaming subscriptions 6% cash back option. Virtually all of us pay for one (or more) streaming subscriptions on a monthly basic, so no matter if it’s Apple Music, HBO Now, Hulu, Netflix, Audible, Spotify, Sling TV, Sirius XM, etc, they all count towards the premium cashback.

If you do travel internationally, you will want to note the Blue Cash Preferred carries a 2.7% foreign transaction fee. If you like some of the perks of the Blue Cash Preferred, however don’t want to pay an annual fee, the Blue Cash Everyday card is worth considering. There are a few major differences between the two cards.

Blue Cash Everyday

  • 0 Annual Fee
  • 0% introductory APR for the first 15 months on balance transfers and purchases
  • Cash Back Promotion: Earn $200 statement credit after you spend $1,000 in purchases in the first 3 months
  • 3% cash back on supermarket purchases, 2% on gas stations and select department stores, and 1% on all other purchases.

The benefits of the Cashback Everyday could be ideal for someone looking for a basic cashback card on gas and grocery purchases, and doesn’t use streaming subscriptions or commutes regularly. That said,  there are better overall cashback cards to consider, and two will be on our list coming soon.

Learn more from the official American Express website

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