If you have very good to excellent credit, read on to find out more about the pros and cons of Blue Cash Preferred® Card from American Express in this detailed review.
Things We Like About This Card
Signing bonus: Get $150 back in the form of a statement credit after making $1,000 in purchases using your new Card during the three first months of cardmembership. You only need to spend $333.34 on your card during each of the first 3 months to earn this signing bonus!
Earn up to 6% cash back on your purchases. When using this card, you will earn 6% cash back for the first $6,000 you spend at US supermarkets, 1% thereafter. This is 6 times more than what typical cash back cards offer. You will also earn 3% cash back on purchases made at select US department stores and US gas stations, as well as 1% cash back on other eligible purchases. The cash back you earn is in the form of Rewards Dollars that are redeemable as statement credit. Cash back is earned only on eligible purchases. Terms and limitations apply.
Enjoy 0% intro APR on purchases and balance transfers for 15 months. You won't have to pay any interest fees on purchases you make with your card during this time, so it is a great opportunity for you to make big-ticket purchases and repay them before this introductory period is over. After this introductory period, you will have a variable APR of 12.99%-21.99% on your purchases and balance transfers, depending on your credit score among other factors.
Earn cash back on bills you already pay, such as phone bills, by signing up with each provider.
Cash back is received as Reward Dollars and can be redeemed for a variety of things, such as statement credits. You will also be able to redeem your cash for gift cards, cash back or merchandise, as long as you have earned at least $25 cash back.
Extended warranty. By making purchases with this card, you can double your purchase’s warranty period up to one year when the original warranty is less or equal to 5 years.
Return protection. When making a purchase with your card, you may receive up to $300 reimbursement for each purchase you regret having bought within 90 days, if the store won't take it back. You can be reimbursed with a maximum of $1,000 yearly.
Purchase protection. Your purchases can be insured against damages, and may be reimbursed if they suffer any damage.
Travel accident insurance of up to $100,000 and car rental loss and damage insurance so that you can have peace of mind when traveling.
Access and monitor your spending online and through your phone. You will be able to view your reward accumulation to keep track of your rewards as well as monitor your spending and schedule your monthly payments.
Dispute Resolution. If fraudulent transactions are charged to your card, American Express can work with you and the merchant to help resolve the issue.
Receive benefits at entertainment events such as concerts and sports events, as well as preferred access. You can even receive advance notice of when they're coming around.
Flexibility to make your payments over time. Since this is a credit card, not a charge card, you have the choice of making your payments over time.
Terms and limitations apply.
Our Least Favorite Things About This Card
$75 annual fee. This card will benefit you the most if you spend frequently on supermarket purchases. Even if you spend as little as $25 per week at supermarkets, the cash back you earn at the end of the year can make this worthwhile.
You must have a minimum of $25 cash back in order to redeem it. Even if you want to redeem your cash back for statement credit, you have to have at least $25 in order to redeem it.
The Blue Cash Preferred® Card from American Express is, in my opinion, a good credit card for those of you who want to earn good cash back on your supermarket and gas purchases and enjoy entertainment-related benefits. I would recommend Blue Cash Preferred® Card from American Express if you make supermarket purchases on a regular basis, as you will earn 6% cash back on the first $6,000 on such purchases. This card even offers an 0% intro APR on purchases and balance transfers for 15 months (12.99% - 21.99% variable APR thereafter depending on creditworthiness and other factors), which is something many other rewards credit cards don't offer. Terms and limitations apply.
In conclusion, if you want to earn cash back faster and receive the perks and benefits of an American Express card, the Blue Cash Preferred® Card from American Express will be a good choice of card for you.