Blue Cash Preferred® Card from American Express review

Finder experts pick Blue Cash Preferred® Card from American Express as a 2021 best product for credit cards.

How to apply for the Blue Cash Preferred® Card from American Express

To apply for the Blue Cash Preferred® Card from American Express, you’ll just need to do the following:

1. Select Apply now.
2. Fill out your personal information and click Submit.
3. To qualify for the Blue Cash Preferred, you’re going to want to apply with a good to an excellent credit score of 670 or higher.

Blue Cash Preferred® Card from American Express benefits

• Rewards. The Blue Cash Preferred® Card from American Express can net value on groceries from US supermarkets, unlike any other card. With 6% cash back as statement credit on up to $6,000 annually, reverting to 1% after reaching the cap, this is the highest rate you can earn in this category. You also earn 6% back on select US streaming services and 3% back at US gas stations and on transit purchases. We’ve created a full list of included services for easy reference on what these categories include.
• Welcome offer. Earn up to $300 in statement credits as a welcome offer. You can earn a $300 statement credit when you spend $3,000 in your first 6 months. The 6 month time frame for earning this bonus is notable since its helpful for families who might need the extra wiggle room because of financial strains and its not a feature you’ll find on many reward card signup bonuses.
• Intro APR. This card’s intro APR on purchases is another strong feature that helps make this card a strong choice for families. With 12 months to pay off your purchases interest free, you can make some large or important purchases up front with plenty of time to comfortably pay it off.
• Plan It. Plan It is an interesting feature that lets you create payment plans to split up large payments into monthly installments. Creating this plan usually carries a fee of up 1.33%, but for the first 12 months of account opening you can create these plans for $0.
• Complimentary ShopRunner membership. Enjoy free two-day shipping and extended warranties on covered purchases through ShopRunner after enrollment.

Blue Cash Preferred® Card from American Express drawbacks

• Rewards cap. The Blue Cash Preferred® Card from American Express‘s US supermarket earning rate is great — until you spend $6,000 on groceries in a calendar year. After that, the rate falls to a paltry 1% cash back.
• Not widely accepted abroad. The Blue Cash Preferred® Card from American Express is an Amex card, which means it isn’t as widely accepted overseas as a Mastercard or Visa. However, the earning categories on this card also work strictly within the United States. That means if you do happen to travel abroad and use this card, you won’t necessarily earn cash back on your purchases if you don’t find a merchant that accepts Amex.
• Gas and grocery store limitations. One of the most important things to look at before applying for this card is the list of eligible supermarkets and gas stations. Under the American Express retail category information page, Target and Wal-Mart are labeled as “superstores” and not supermarkets, for example. Other types of specialty stores such as wine and cheese shops, or warehouse clubs like BJ’s Club are also not included. These fussy details pertain to gas stations too — only merchants that are “in the primary business of selling gasoline to consumers” are eligible for the increased earning rate. Mobil, Shell and Exxon are a few listed examples. This means if you won’t earn the 3% cash back if get your gas at Costco or Target.

Compare Blue Cash Preferred to similar credit cards

There’s a lot of competition in the everyday rewards space, so here’s a breakdown of the Blue Cash Preferred vs. two similar cards to give you a sense of how the Blue Cash Preferred stacks up.

Blue Cash Preferred® Card from American Express

★★★★★

Finder Rating: 4.3 / 5

Terms apply, see rates & fees

Go to site
Minimum credit score 670
Annual fee $0 intro annual fee for the first year ($95 thereafter)
Purchase APR 0% intro for the first 12 months (then 13.99% to 23.99% variable)
Balance transfer APR N/A
Rewards 6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on other purchases (redeem as statement credit)
Welcome offer $300 statement credit after spending $3,000 in the first 6 months

Blue Cash Everyday® Card from American Express

★★★★★

Finder Rating: 4.6 / 5

Terms apply, see rates & fees

Go to site
Minimum credit score 670
Annual fee $0
Purchase APR 0% intro for the first 15 months (then 13.99% to 23.99% variable)
Balance transfer APR N/A
Rewards 3% at US supermarkets on up to $6,000 per year (then 1%), 2% at US gas stations and select US department stores and 1% on other purchases (redeem as statement credit)
Welcome offer Earn a $200 statement credit after spending $2,000 in the first 6 months

Chase Freedom Unlimited®

★★★★★

Finder Rating: 4.7 / 5

Terms apply, see rates & fees

Go to site
Minimum credit score 670
Annual fee $0
Purchase APR 0% intro for the first 15 months (then 14.99% to 23.74% variable)
Balance transfer APR 0% intro for the first 15 months (then 14.99% to 23.74% variable)
Rewards 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases, 5% on travel purchased through Chase Ultimate Rewards®, Unlimited 1.5% cash back on all other purchases
Welcome offer Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back

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How much money can you make with the Blue Cash Preferred® Card from American Express?

Here’s a quick example of the kind of cashback you might in a month earn using the Blue Cash Preferred® Card from American Express, assuming some common spending values.

Total cashback in one month = $59. If you keep the same spending amounts, that’s $708 back in one year.

Blue Cash Preferred® Card from American Express customer reviews and complaints

As of August 2021, American Express sports an A+ rating from the Better Business Bureau and has been accredited since 1948. It has received 3,331 customer complaints, all of which the provider has addressed and closed out.

Trustpilot rates the provider a bit lower with a 1.9 out of 5.0. A majority of the negative customer reviews on the site mention American Express customer service as the primary pain point.

Users on social media, such as Reddit, tend to praise this card for the large earning rate and solid customer service American Express offers. Those less satisfied with the card point to grocery store and gas station restrictions as a big point to watch out for — especially if you often shop at stores like Target and Walmart.

How to make the most out of your Blue Cash Preferred® Card from American Express

Amex makes it easy to make the most out of your Blue Cash Preferred® Card from American Express so long as you spend it on the right categories. Here are a few quick tips for maximizing rewards using the card:

• Spend up to the cap. The Blue Cash Preferred® Card from American Express‘s big claim to fame is the 6% back on US supermarkets, so take it for all its worth. Spending at least up to the annual cap helps ensure you make the most of what the card offers and will more than make up for the annual fee.
• Don’t forget about streaming. This card also earns 6% back on select US streaming services. You probably spend considerably less on Netflix and Hulu than you do on groceries, but this value can still add up.
• Review eligible merchants. To earn the cashback rate listed on the card, you’ll need to make purchases at eligible merchants, grocery stores and gas stations. Review the card’s terms and conditions to make sure you’re not missing out.

What services count as streaming and transit?

Under transit, you’ll get rewards for:

Current supported streaming services include:

Bottom line

If you’re looking for a superb cashback card designed for the modern day family, look no further than the Blue Cash Preferred® Card from American Express. While there are other grocery and gas cashback cards out there, none offer a 6% rate like Blue Cash Preferred® Card from American Express. The raw earning power of this card across a variety of categories and flexible welcome offer make it a great choice for families who want a rewards card.

If you’re looking for more than just cash back on your rewards card, however, compare your other plenty of rewards card options to find one that best fits your financial needs.

Images: AmericanExpress.com