Bottom Line

Here is the catch, Amex has a once in a lifetime sign up bonus, so we normally don’t recommend you signing up for an Amex card unless it has a Special Sign-up Offer, the highest I’ve personally seen for this one is $300 sign up bonus, which is nothing to write home about. Basically, we do not recommend getting this one. There are too many negatives about it, with a cap on the grocery category, an annual fee and a hit to your credit. Plus your rules will begin to tip, there are 3 Amex rules and this will count against your Chase 5/24 rule. Getting this card really just doesn’t add up.

Why You Might Want This Card

The Amex Cash Card

Here we have an amex card that is completely cash back. The annual fee is present. There is a sign up bonus, it’s small, but there. And, you do get a high return on certain categories like 6% back at grocery stores and streaming subscriptions. Benefits include Travel Accident/car rental insurance and Purchase/Return Protection.

When Your Cash is Blue

Redemption comes in the form of Reward Dollars that can be used toward a statement credit. The sign up credit is $250 but if you consider the $95 annual fee that’s not waived the first year, that bonus starts to diminish. The 6% back at U.S. Supermarkets is pretty great but it caps out at $6000, so if you spend over $115/week on groceries, you won’t be getting the most value out of this particular category.

Exceptions To The Rule

About Cash in Cents

Most points have a 1 cent redemption value. Plus any 1X of 1.5X cash-back on spends are in cents, not dollars. So that we are comparing Apples to Apples, in terms of cash back vs. points, we use cents rather than dollars in representing cash bonuses.

Where Amex Blue Cash Preferred Fits In This Point Ecosystem

Personal Experience