Hello Friends, I hope all is well with you! Today, I am going to be reviewing the American Express Blue Cash Preferred credit card. These opinions are my own, and I am in no way influenced by anyone.
Overall Verdict: The American Express Blue Cash Preferred rewards credit card is very similar to it’s no annual fee sibling, the Blue Cash Everyday card. This card offers good benefits and protections, although some of its peers offer slightly better benefits. This card also offers a high amount of rewards on certain categories. The catch is that there is a cap on the high earning categories, which is something I am not a fan of.
Some things about this card I like:
Some things about the card that I don’t like:
The Blue Cash Preferred rewards credit card offers you the chance to earn cash back for every dollar that is spent. The cash back accumulates in your account until you are ready to use the rewards. The con with this card is that the cash back must be applied as a statement credit but can only be redeemed when the rewards amount is $25 or more. American Express indicated that they may offer other ways to redeem your cash back, but it is at their discretion; you should not count upon it. You should expect to redeem your cash back as a statement credit.
The Blue Cash Preferred rewards credit card has a $95 annual fee.
This Amex rewards card offers a few different ways to earn cash back. You can earn 6% cash back at U.S supermarkets but on up to $6,000 per year in purchases only; it then goes to 1% cash back after the limit is reached. You can also earn 6% cash back on select U.S streaming subscriptions. You then earn 3% back on transit (rideshare, taxis, parking, tolls, buses, trains, etc.), and 3% back at eligible gas stations. Lastly, you earn 1% on everything else that is not in the previously mentioned categories.
The Blue Cash Preferred credit card offers a $300 sign-up bonus if you spend at least $1,000 in the first three months of your account opening. That’s a 30% return on the money that you would have spent anyway.
There is a 2.7% foreign transaction fee on the amount of each purchase in U.S dollars. This is something that I don’t like considering that there are other cards that don’t have this fee. If you don’t travel abroad or buy products in foreign currency, then you don’t have to weigh too heavily on this.
The Amex Blue Cash Preferred rewards credit card offers benefits like:
For more information and details on their benefits, check out their benefits page.
The Amex Blue Cash Preferred rewards credit card offers a 0% introductory APR for 15 months from the date of the account opening. After the introductory APR ends, you can expect an APR between 13.99% and 23.99%; it depends on your credit score.
Their other fees include:
For more information on their fees, check out their fee schedule.
There are a couple of ways you can contact their customer service. The first and most common way would be to call the number on the back of the card. The second way to contact them would be through their online chat system; you would initiate this chat by logging into your account and clicking on the “Chat” icon. It’s important to note that your experience with their customer service may vary from time to time and from issue to issue depending on the agent that you get.
Who it’s perfect for:
Who it isn’t perfect for:
If you are still unsure if a rewards credit card makes sense, check out my post on Why You Should Use Rewards Credit Cards.
Additionally, if this card isn’t right for you, I invite you to check out my credit cards page for more information on other cards.