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3.7/5.0 from 74 Cardholder Reviews Over the Past 60 Days!
0% for 15 Months
0% for 15 Months
Late Payment Fees Up to $38
Foreign Transaction Fee 2.7% of each transaction after conversion to US dollars
Balance Transfer Fee $5 or 3%, whichever is greater
Cash Advance Fee $5 or 3%, whichever is greater
Returned Payment Fee Up to $38
Penalty APR 29.24%
Rewards Cap Earn 6% Cash Back on up to $6,000 per year*
Rewards Rate 6% U.S. supermarkets, 3% U.S. gas stations & select U.S. dept stores, 1% other purchases
Annual Fee $75
Grace Period 25 Days
$0 Fraud Liability No
Auto Rental Insurance Yes
Extended Warranty Program Yes
Roadside Assistance Yes
Purchase Protection Yes
Travel Assistance Yes
Flight Accident Insurance Yes
Lost Luggage Reimbursement No
Concierge Service Yes
When the Blue Cash Preferred was first introduced it looked great on the surface, but there were some significant restrictions that put a limit on how much cash you could actually earn. But that has all changed for the better, and the current new and improved version of American Express Blue Cash Preferred is perhaps the most rewarding cash back card on the market.
With this generously updated plastic you can earn cash back with no rewards caps (there is a cap on the 6% category), gimmicky tiers, or complicated rotating categories. In fact, it appears to have one of the most hassle-free cash back rewards program in the industry.
The way Blue Cash Preferred works is straightforward and that’s a huge improvement over most cash back plastic. The category that really sets this card apart is supermarkets, because Blue Cash Preferred lets you generate 6% cash back on up to $6,000 all year; then 1%. When you use it to buy gas at US gas stations, you can earn 3% cash back without limits on the amount you can earn. By contrast, most rewards cards will either put a cap on how much cash back you can earn or they offer a lower percentage of rewards – or both. Since supermarket items and gasoline are two of the biggest expenses for most households, this card makes it easier to save considerable amounts of money. You can also earn a robust 3% cash back rewards at US department stores and US gas stations, and you get 1% cash back on all other purchases.
Adding to the perks, you can earn $150 cash back bonus when you make at least $1,000 worth of purchases within the first 3 months of membership. That makes up for the annual fee for this card, which is $75, so even after paying the fee you still come out ahead.
The American Express Blue Cash Preferred is the ultimate cash back rewards card because it offers the most generous ways to earn cash back without restrictions or limitations, and there are no rotating categories. Plus, there is an intro 15 month 0% APR and you can earn $150 Cash Back if you spend $1,000 or more within the first 3 months of card membership.
What we like about this card is that you can earn cash back rewards that make most other cash back programs look mundane by comparison. Cardholders receive 6% cash back at US supermarkets, 3% back at US gas stations and select US department stores, and 1% back everywhere else.
You must have excellent credit to qualify. There is also a $75 membership fee. (But the yearly fee can be easily offset by the cash back rewards and bonuses you can earn with this card.)
Editorial Note: This content is not provided by American Express. Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by American Express.
74 Total Ratings