The Amex Blue Cash Preferred Card

Published August 11, 2016

If you’re in the market for a rewards card, the Blue Cash Preferred Card from American Express, a SmartAsset.com advertiser, may be a good card for you. The card offers high reward rates and allows you to start earning cash back immediately. Once approved for the card, you don't have to enroll separately in a rewards program and there are no rotating reward categories. You just make your purchases using your Blue Cash Preferred Card, and you get cash back from your purchases.

Who The Card is For

If you spend a lot of money at the grocery store and the gas station, the Blue Cash Preferred Card from American Express might really help you save money. You can get 6% cash back on purchases made at United States supermarkets. That’s true for up to $6,000 of purchases each year. After you’ve spent $6,000, you will earn 1% rewards on all additional money spent at supermarkets in the U.S.

You also get unlimited 3% cash back at gas stations and certain department stores in the United States (JC Penney, Kohls, Macy's, Sears and Nordstrom) with this card. But even those higher returns aren’t all you get. For every other purchase you make using this card, you get 1% cash back.

You get your cash back in Reward Dollars which can be redeemed as a statement credit. And if you get additional cards for your family and friends, you can get even more rewards. In addition, you can even get cash back on some of your monthly expenditures, like your phone bill. So anyone who buys things or pays bills using your credit card, might benefit from the Blue Cash Preferred Card from American Express.

Card Features

It's also very easy to check up on your account. You can easily access your account online, and you can either pay your entire balance each month or carry your balance. It’s important to remember if you carry a balance from month to month you will pay interest on that balance. Financial experts recommend spending within your limits so you can pay off your full credit card bill each month and save yourself money.

There are even more online features for you to use with your Blue Cash Preferred Card. You can also see all of the options online for Reward Dollar spending and reward possibilities, as well as your Reward Dollar balance.

The intro APR is 0% and it lasts for twelve months. That means that all of the purchases that you make on this card for a year will be interest free - that on top of all of the money you'll be getting back from your purchases. It’s a good idea to mark the date when this introductory offer ends on your calendar, so you make sure you have paid off all purchases by then and avoid paying interest. After that first year your APR will be between 13.24% and 23.24%, depending on your financial history.

The card does have a 3% balance transfer fee. That means if you transfer over a balance from another credit card, you will pay 3% of that amount as a fee. It’s important to do the math to see if you will save money by transferring over another credit card balance during the 0% interest phase. If you will be able to pay it off within the first twelve months, it might be a good decision.

Amex is currently offering a special promotion where new cardholders can earn up to $350 back. You'll get $150 back after you spend $1,000 in purchases in the first 3 months. You can also get 5% back on $4,000 in eligible travel purchases in the first 6 months, up to $200. See the card terms for the full details.

Additional Benefits

There are other benefits to this card. If you want to return some items within 90 days of the date of purchase - and the seller won't take it back - American Express may refund your whole purchase up to $300 per item, and $1,000 per year, assuming you purchased the item entirely with your American Express card. That can be helpful for people who are not good at keeping receipts organized or who change their mind after shopping!

And finally, the card offers a number of emergency services. If your car breaks down, there is a phone number for you to call. You can pay with your card, so there is no need to worry if you don't have cash. You can also get a year added to the warranty of an item you purchased using your Blue Cash Preferred Card, as long as the warranty is less than five years (although exclusions and restrictions do apply so be sure to read the fine print). And if you have travel problems, there is a Global Assist Hotline to help out card members. In addition, the card has a chip, so you can use it abroad without any problems (and increasingly in the U.S. as vendors switch over to this technology).

Who Should Apply for the Amex Blue Cash Preferred Card?

If you're thinking about switching rewards cards, and particularly if any of these features fit your shopping and spending profile, you might want to consider getting the American Express Blue Cash Preferred Card. You might find you are able to save a lot of money through the cash back program, you can get a year of interest-free purchases and benefit from the many other card features as well.

Check out our Blue Cash Preferred Card review to learn more and apply for the card today.