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Blue Cash Preferred® American Express Review

Home » Finance » Blue Cash Preferred® American Express Review
9.3

Table of Contents

Blue Cash Preferred American Express Review

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

Blue Cash Preferred American Express Review feature image

Pros

  • $250 cash-back offer after $3,000 of eligible spending in the first 6 months

  • $150 cash-back upgrade offer after $1,000 of eligible spending in first 6 months

  • High cash-back returns on groceries, gas, streaming, and more

  • No additional annual fee for additional cardholders

  • Monthly $7 statement credit for select streaming service purchases

  • Amex Early Access for select events

Cons

  • A 700+ credit score is necessary for most approvals

  • $95 annual fee after intro offer

  • $6,000 spending  cap for 6% rewards

  • 2.7% foreign transaction fees

     

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.

Rewards 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
Intro Offer $250 cash back after $3,000 eligible spending in the first six months or $150 cash-back for spending $1,000 in the first six months for card upgrades from another Amex card
Rewards Redemption Transferable Amex points are redeemable for gift cards, travel rewards, shopping rewards, statement credits, or charitable donations
APR 19.24% – 29.99% (variable)
Annual Fee $95 after intro offer
Credit Score Requirements 700+

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.

Amex Amex Blue Cash Preferred® Amex Blue Cash Everyday®
Rewards 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 3% cash-back on groceries and gas, 3% cash back on online purchases, and 1% on other eligible purchases, plus statement credit benefits on select streaming sservices
Intro Offer $250 cash back after $3,000 eligible spending in the first six months or $150 cash-back for spending $1,000 in the first six months for card upgrades from another Amex card 0% APR for the first 15 months is applicable to balance transfers and purchases, plus a $200 cash-back statement credit after spending $2,000 in the first 6 months. 
APR 19.24% – 29.99% 

(variable)

19.24% – 29.99% 

(variable)

Annual Fee $95 after $0 intro offer $0

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.

Amex Amex Blue Cash Preferred® Chase Sapphire Preferred®
Rewards 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 5x points for travel / 3x points for dining, groceries, and streaming / 1x points on other qualified purchases / $50 annual hotel discount 
Intro Offer $250 cash back after $3,000 eligible spending in the first six months or $150 cash-back for spending $1,000 in the first six months for card upgrades from another Amex card 60,000 bonus points intro offer worth $600 after spending $4,000 in the first 3 months
APR 19.24% – 29.99% 

(variable)

21.49% – 28.49% (variable)
Annual Fee $95 after $0 intro offer $95

Frequently Asked Questions

Does Amex Blue Cash Preferred have foreign transaction fees?

Is Amex Blue Cash Preferred metal?

Is Amex Blue Cash Preferred worth it?

Is the Amex Blue Cash Preferred hard to get?

What is the credit limit on the Blue Cash Preferred American Express card?

Can you downgrade Blue Cash Preferred to Everyday?

Can you upgrade from Blue Cash Everyday to Preferred?

Source

Image source: americanexpress.com

About Author

Dr. Ali
Who is Deane Biermeier? In the dynamic realms of finance and home improvement, a luminary has emerged over the last decade—Deane Biermeier. Widely recognized as the go-to expert for insightful reviews and content, his prolific writings grace esteemed publications, including Forbes, Angi.com, U.S. News and World Report, LifeWire, Family Handyman, and several others. He also acts as an expert consultant for The Spruce and Family Handyman. In 2023, Deane joined the esteemed team at TrustedCompanyReviews.com, solidifying his status as a sought-after authority. What sets Deane Biermeier apart? His writing isn't merely informative; it's a delightful blend of honesty, expertise, and entertainment. Deane's crafted content aids millions of consumers, steering them away from pitfalls and toward near-perfect purchases. TrustedCompanyReviews.com feels blessed to have Deane on their team, and now you, too, can be blessed with his insightful writing. Dive into some of Deane's latest reviews on personal loans, credit monitoring, identity theft, and related topics and industries. Follow Deane Biermeier to read his exciting newest reviews, soon to come in 2024! In the upcoming year, Deane has queued up an exhilarating series of reviews that you won't want to miss. He'll be uncovering the inside scoop on cutting-edge products designed to enhance the security of your finances, starting with credit card reviews as 2024 starts. Don't forget to bookmark Deane's author bio page before you navigate away from this page! All of Deane's newest reviews will be featured right here on his author profile page. If you appreciate Deane's insightful reviews and find them helpful in making informed decisions, please consider sharing this author bio on your social media channels. No fluff, just the unbiased facts that matter are what you'll discover with Deane Biermeier's reviews. You won't get sold by anyone, and it's not a marketing gimmick but rather the stuff you need to know before making a purchase. Deane's passion goes beyond mere technical expertise; he believes in the transformative power of knowledge. His commitment lies in equipping consumers and homeowners with the necessary resources to make informed decisions, guiding them with confidence throughout their home improvement projects and when facing financial choices. Determining the right credit cards or personal loans amidst a myriad of companies vying for your business can be stressful and challenging. Dealing with fast-talking salespeople can often result in poor decisions, as individuals may be misled by enticing portrayals, only to discover later that reality falls short of expectations after becoming a client and paying upfront costs. Such situations can be avoided by following Deane's reviews and gaining insight from the information he shares. His reviews illustrate the facts about companies and products, sharing customer experiences that occur after the sale, enabling individuals to make informed choices and avoid potential pitfalls. Deane's insights are not just recognized but actively sought after by leading publications like Forbes Home, Angi.com, USNews, Family Handyman, and Lifewire. He consistently delivers credible, unbiased information, providing readers with the confidence to navigate the intricacies of home improvement and finance. Deane is more than a writer; he is your trusted partner in realizing your home improvement dreams. Combining decades of hands-on experience with meticulously researched insights, he offers practical guidance and financial knowledge to support you at every step of your journey.
Dr. Ali

Deane Biermeier

Last Updated: January 3, 2024