Blue Cash Preferred® American Express Review

Blue Cash Preferred American Express Review

Craving 6% cash back on groceries and gas? The Amex Blue Cash Preferred Card promises high rewards, but does it come at a cost? Our Blue Cash Preferred American Express Review highlights the Blue Cash Preferred credit card from American Express, which offers high-level points rewards redeemable for cash-back and other benefits, including a $250 bonus for early eligible spending.

The card provides up to 6% rewards on everyday spending such as–

• gas
• groceries
• transit services
• streaming

Current Amex cardholders can upgrade to the Blue Cash Preferred to take advantage of a potential $150 bonus and enjoy the additional benefits.

Review the Pros and Cons:

As great as the 6% cash back on groceries and gas may sound, there are some cons you’ll want also to consider.

For example, The Blue Cash Preferred AMEX card is only for applicants with good to excellent credit and it comes with annual fees of $95 per year after year one.

Before applying for this credit card, we recommend checking out our list of the top-rated credit cards for gas and groceries in 2024. We also published a list of the best credit cards for balance transfer cards.

As an alternative, consider a personal loan:

Amex Blue Cash Preferred Benefits

Few credit cards offer everyday spending benefits as high as the Amex Blue Cash Preferred card. Customers can realize up to 6% cash-back returns on purchases at select grocery stores, streaming services, and more.

Other benefits include automatic statement credits for specific subscriptions from Disney, Hulu, and Plus and fitness rewards for Equinox+ enrollment. While the card comes with a $95 annual fee, additional cardholders on the account won’t increase the annual cost.

• Variable APR 19.24% – 29.99%
• 0% Intro APR for 12 months
• $95 annual fee after 12 months $0 intro offer
• 0% APR for 12 months on balance transfers
• 2.7% foreign transaction fees apply
• 6% cash-back on groceries
• 3% cash-back on gas
• 6% cash-back on select streaming services
• 3% cash-back on local transportation services
• 1% cash-back on all other purchases
• Cash-back points redeemable for statement credits
• Instant card number access for approved applications
• Monthly $10 statement credit for Equinox+ enrollment
• Send & Split® Venmo and PayPal access
• Robust mobile app
• Balance transfer fees of 3% after intro offer
• $10 or 5% cash advance fee
• Best for Good to Exceptional credit score above 700
• Cash advance APR of 29.99%

Blue Cash Preferred American Express Review: Editorial Rating

Trusted Company Reviews Rating Score for Blue Cash Preferred: 9.3

The Amex Blue Cash Preferred credit card provides benefits that include 6% cash-back on groceries and 3% on gas, squarely placing it on our list of the best credit cards for gas and groceries. Rewards points are redeemable for statement credits, gift cards, travel and shopping rewards, and charitable donations.

About Amex Blue Cash Preferred

Amex Preferred® cardmembers can enjoy multiple benefits beyond the 6% rewards for groceries and streaming, 3% on gas and transit, and 1% in other eligible categories. Other benefits include a $250 cash-back offer for spending at least $3,000 in the first six months of card ownership and card upgrade offers for current members.

The card has a variable APR of between 19.24% and 29.99%, with a $95 annual fee after the 0% and $0 introductory offers. After approval, customers can often obtain an instant card number to begin using the Blue Preferred card immediately. Card approval typically requires a credit score of 700 or higher.

Amex Cardmembers can also access the American Express mobile app that allows making payments, checking balances and statements, accessing Amex’s Send & Split® Venmo and PayPal payment tools, and other features.

Amex Blue Cash Preferred Rewards

Earning rewards with the Blue Cash Preferred card is straightforward, with no activations necessary—simply use the card at various establishments and service vendors to receive 6% points returns on groceries and streaming services, 3% at gas stations and transit services like taxis, rideshares, parking, tolls, train tickets, and bus fares, and 1% on other spending.

Rewards are redeemable in several ways through Amex, such as statement credits, gift cards, travel benefits, charitable donations, and others. However, Amex caps the 6% rewards to 1% after $6,000 of annual spending in the eligible categories.

Blue Cash Preferred Foreign Transaction Fee

Amex charges a 2.7% foreign transaction fee on purchases made outside the U.S.

Blue Cash Preferred Annual Fee

The annual fee for the Amex Blue Cash Preferred credit card is $95 starting in the second year of card membership. Amex waives the annual fee for the first year for new Blue Preferred cardholders.

American Express Mobile App Information

American Express offers a robust mobile app to accompany its credit card offerings. The app allows cardholders to take advantage of several features to manage their card and spending. In the app, customers will find the ability to perform the following functions.

• Check balances
• See their available credit amount
• Look up and download statements
• Access Amex’s Send & Split® function to seamlessly make payments through Venmo and PayPal
• Redeem rewards
• Take advantage of periodic travel, dining, shopping, services, and entertainment offers.
• Add, confirm, or replace Amex cards
• Freeze card spending
• Add a cardmember to their account
• Add their card to various wallets and merchants for buy now, pay later access.
• Monitor their FICO credit score
• Contact Amex

Expert Blue Cash Preferred American Express Review

Expert Blue Cash Preferred reviews showcase star ratings ranging between 3.9 to 5 of 5 and an average of 4.4 stars—Reviewers like the card’s high rewards-earning potential but struggle to come to grips with the $6,000 annual cap, especially for customers with excellent credit scores or spending ability. The significant $95 yearly fee isn’t a favorite feature among experts either. However, the high reward potential can minimize its impact.

Customers’ Blue Cash Preferred American Express Review

The average rating for the Blue Cash Preferred card from consumers is on par with expert reviews, averaging around 4.2 of 5 stars. However, several low-rating reviews exist, including up to nearly 20% of reviewers rating the card at 3 stars or lower. Poor reviews cite customer service issues, while strong reviews state their credit limits upon approval were higher than expected.

Why Amex Blue Cash Preferred Stands Out

The Amex Blue Cash Preferred credit card stands out among other gas and grocery cards in our review by offering exceptional rewards returns for everyday purchases, as well as providing several rewards redemption options for cardholders and a robust mobile app that allows users to completely manage their accounts from a single source.

American Express Blue Cash Everyday Vs. Blue Cash Preferred

Customers can almost think of the Amex Blue Cash Everyday card as a Blue Cash Preferred card – light. While the Preferred® card offers more substantial rewards and benefits than the Everyday® card, the latter features no annual fee and still offers a respectable 3% rewards return on everyday spending like gas, groceries, and streaming services.

However, both cards require above-average credit scores of around 700 or more to qualify for approval. Both cards also cap the best rewards at $6,000 of eligible spending each year. Some consumers might choose the Preferred card primarily to take advantage of more robust rewards that reach more services, such as transit purchases.

Chase Sapphire Preferred Vs. Amex Blue Cash Preferred
The Chase Sapphire Preferred offers a more enticing intro offer worth $600 versus Amex’s 250 cash-back offer, and both cards come with a $95 annual fee. However, the Blue Cash Preferred offers slightly better long-term rewards than the Sapphire card, except for an annual $50 hotel discount.

Frequently Asked Questions

Source

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Deane Biermeier