Who Is The Blue Cash Preferred® Card From American Express For?
The Blue Cash Preferred® Card, from our partner American Express, is a cash back card for people that want simple benefits, allowing them to save money at competitive rates. This card has extensive cash back coverage for purchases across various industries, including supermarkets, media, transit and gas. Its wide coverage of day-to-day purchases and payment plan options make it perfect for someone looking for a credit card to save on household expenditures.
While the $95 annual fee might look intimidating, everyday use of this card has the potential to make up for the fee very easily. Plus, cardholders get to enjoy their first annual fee waived! For new American Express Blue Cash Preferred customers, the card issuer offers up to $350 cash back. First, you can earn $150 back after $3,000 worth of eligible purchases within six months of getting the card. Additionally, you are eligible to earn up to $200 on purchases made on Amazon.com within the first 6 months of card opening.
For the first twelve months, this card waives APR for purchases and balance transfers. This improves payment flexibility and can allow you to consolidate all your credit cards more easily. After this introductory period, you will pay 13.99% to 23.99% (Variable) depending on your creditworthiness. This card is a great fit if you are looking to make a large purchase and want to pay it down over the 12 month 0% APR introductory period.
This card targets the crowd that seeks a hassle-free credit card that does not deal with complicated rewards programs. A simple cash back in the form of statement credit allows for a much more versatile form of saving, because it lets you decide how you want to deal with the saved money. It can be seen as a successor to the American Express Blue Cash Everyday Card for those wanting to enjoy greater benefits for a slight cost.
The signature benefits of this card are simple. You will earn a reward of 6% cash back on the first $6,000 of purchases in a year at US supermarkets (1% thereafter), another 6% on purchases of U.S. streaming subscriptions, 3% on purchases on transit, 3% on purchases of gas, and 1% on all other purchases. Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits. Considering the vast coverage of this reward program, the biggest benefit of this card is that it can be used for almost any purchase that pertains to daily life. You can add additional members to this card and redeem cash back for their purchases, as well. This aspect also multiples the potential savings, since the frequency of purchases will be higher.
The American Express Blue Cash Preferred Card also offers an intro APR of 0% for purchases and balance transfers for the first 12 months, and 13.99% to 23.99% (Variable) thereafter. In addition, it offers a Plan It® feature which allows you to split up large purchases of over $100 into smaller payments. With Plan It, you can create up to 10 active payment plans, each subject to a plan fee. One of the biggest benefits of this credit card is the flexibility of making large payments that comes along with the 0% intro APR and Plan It feature.
Similarly to other Amex cards, this card gives you access to the American Express lowest hotel rates guarantee. This perk claims that if you book a prepaid hotel rate on amextravel.com and then find the same room at a lower price online, American Express will refund you the difference. This is extremely beneficial for frequent travelers or those traveling on a budget.
This card comes with a $95 annual fee but it is waived ($0) for the first year. This math makes the perks in this card all the more attractive.
Services and Protections
An interesting perk of this card is the Return Protection plan. This plan allows you to return purchases to American Express within 90 days of the purchase date in order to qualify for a refund of up to $300 per item and up to a maximum of $1,000 per calendar year per card account. This program makes this card a great option for regular shoppers.
In terms of customer service, American Express has a dedicated Card Member Services team that can assist you with queries 24/7. Furthermore, the Global Assist hotline gives you 24/7 access to emergency assistance regardless of your location around the world. This service can be extremely useful in the case of lost card inquiries and emergency cash wire needs.
This card also offers fraud protection, which means that you will not be held liable for any fraudulent transactions. In addition, it offers rental car loss and damage insurance, protecting you when you travel.
This card carries a penalty APR of 29.24% (Variable), which means that late payments can result in hefty interest charges. We would recommend responsible budgeting and timely payments in order to eliminate the risk of any penalties.
The American Express Blue Cash Preferred Card is a great choice for those looking for a daily-use credit line that can be used to receive competitive benefits. It is definitely an upgrade from the Blue Cash Everyday Card and provides rich benefits at a slightly higher cost. Whether you want cash back on your groceries, Netflix subscription or gas, this card has got your back.