Amex Blue Cash Preferred Credit Card Review
Key Takeaways
We don’t recommend getting this card for several reasons. We love the points-and-miles hobby because it helps us earn travel for free. However, the American Express Blue Cash Preferred card is a cash-back card with no real travel rewards. That alone makes it a poor use of a 5/24 slot.
American Express also has a once-per-lifetime rule for its cards, meaning you can only earn a sign-up bonus on each card once. Because of this, we usually suggest waiting for an elevated welcome offer. The highest offer we’ve seen for this card is $300, which isn’t enough to justify using a 5/24 spot. This is yet another reason we don’t recommend this card.
Why This Card Could Be Right For You
Despite its downsides for travel enthusiasts, there are some appealing cash-back opportunities while working toward your sign-up bonus. The standout multiplier is 6% cash back at U.S. supermarkets (on up to $6,000 per calendar year, which equates to $360 in cash back) and select streaming services. You also earn 3% on both transit and at U.S. gas stations, plus 1% on all other purchases.
Additionally, you get a statement credit of $7 per month (up to $84 per year) after subscribing to an eligible Disney Bundle with this card. The card’s annual fee is 95, but it’s waived for the first year. You also receive a $250 cash-back welcome offer after spending $3,000 on eligible purchases in the first six months. Because the rewards come only in the form of cash back (or, alternatively, for Amazon purchases), this card is best for those who prioritize cash back over travel rewards.
When The Usual Advice Doesn't Apply
This card likely won’t benefit you if you’re looking for free travel. It doesn’t offer any travel rewards beyond car rental loss and damage insurance.
How The Amex Blue Cash Preferred Credit Card Fits In The Cash in Cents Ecosystem
American Express has two primary cash-back cards: this one (Blue Cash Preferred) and the Blue Cash Everyday card. The Everyday card has no annual fee after the first year, but its earning rates are lower. You get 3% cash back on groceries (capped at $6,000 per year), U.S. online retail purchases (capped at $6,000), and at U.S. gas stations (also capped at $6,000). It provides the same $84 Disney Bundle credit annually and offers a $200 cash-back sign-up bonus after spending $2,000 in the first six months.
If you’re focused on free travel perks, American Express has a range of cards worth considering. Because of another American Express rule that requires certain cards to be opened in sequence to earn their welcome bonuses, most people start with the Green, then move to the Gold, and finally the Platinum:
- Green Card: 40,000-point welcome offer, $150 annual fee, and a $199 annual Clear Plus credit.
- Gold Card: $325 annual fee, 60,000-point welcome offer, and multiple statement credits/perks.
- Platinum Card: $325 annual fee, 80,000-point welcome offer, and a wide variety of premium benefits and credits.
Card Information
| Bonus Points | Minimum Spend | Point Value | Annual Value | Annual Fee |
1st Year Value
|
|---|---|---|---|---|---|
| 25,000 | $3,000 | 1.0 ¢ | $2 | $0 |
$282
|
| Best Value | Differentiating Perks | Rules |
|---|---|---|
| Delta & Hilton transfers | 6% bonus at U.S. supermarkets limited to $6,000 in purchases per year | Amex 4 Credit , Amex 3/90 , No 5/24 , Amex 1/10 |
Spend Categories
1X points
1¢ Per Dollar Spent
6X points
6¢ Per Dollar Spent
3X points
3¢ Per Dollar Spent
6X points
6¢ Per Dollar Spent
3X points
3¢ Per Dollar Spent
Card Benefits
Secondary car rental insurance when you pay for the entire rental with your Blue Cash Preferred
If it is within 90 days of your purchase date, then you could get up to $1,000 back per claim up to $50,000 per account per calendar year.
Enjoy up to 1 additional year on the original manufacturer’s warranties of 5 years or less.
Point Transfer Options
Transfer To Spouse/Partner Yes
Transfer To Friends Yes
Travel Partner Transfers
Outside Point System Cash in Cents
Transfers In From
1:1 71% value retained
1:1 100% value retained
1:1 91% value retained
1:1 63% value retained
1:1 91% value retained
1:1 71% value retained
Amex Blue Cash Preferred Application Rules
Amex will decline your application if you already have 4 credit cards (not charge) and apply for a fifth
You'll be declined if you apply for a fourth Amex card in 90 days
Card approval not subject to 5-personal-cards-in-24-months rule
Amex allows only 1 bonus per specific card per lifetime (yours or that version of the card)
