The Blue Cash Preferred® Card from American Express is one of our favorite cashback credit cards. Compared to other outstanding cashback cards, such as the Citi® Double Cash Card – 18 month BT offer and the Capital One Quicksilver Cash Rewards Credit Card, the Blue Cash Preferred® Card from American Express has the potential to net even more rewards for your spending.
Blue Cash Preferred® Card from American Express: great if you can maximize the spending categories
The Blue Cash Preferred® Card from American Express offers a high rewards rate on two categories that make up most of people’s budgets. You earn 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% Cash Back on select U.S. streaming subscriptions, 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more), 1% Cash Back on other purchases. Terms apply. Rewards can be redeemed as statement credits toward your purchases.
The U.S. supermarket rewards rate is the highest bonus percentage we’ve seen for that category. While the 6% can only be earned on the first $6,000 of U.S. supermarket spending in the year, it’s still an exceptional rate for U.S. supermarket purchases compared to other credit cards. A 3% cash back rate on U.S gas stations is above average as well.
The card also offers 6% cash back on select U.S. streaming subscriptions and 3% cash back on transit including taxis and rideshares, parking, tolls, trains, buses and more. These accelerated bonuses more than make up for the card's annual fee ($0 introductory annual fee for the first year, then $95 See Rates & Fees).
Blue Cash Preferred® Card from American Express
- Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Buy Now, Pay Later: Enjoy $0 plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 plan fees on plans created during the first 12 months after account opening. Plans created after that will have a plan fee up to 1.33% of each purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
- Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
- Terms Apply.
Blue Cash Preferred® Card from American Express benefits and features
In addition to the cashback earnings, the card comes with other notable benefits, such as a generous welcome bonus and lifestyle benefits.
Great welcome offer
When you are approved for the Blue Cash Preferred® Card from American Express, you will have the opportunity to earn $300 back after you spend $3,000 in purchases on your new Card within the first 6 months.
This is one of the largest cash-based offers currently available, making the Blue Cash Preferred® Card from American Express a great competitor against other cashback credit cards.
When you shop with the Blue Cash Preferred® Card from American Express, you can purchase with confidence knowing you have return and purchase protection from American Express.
Return protection will cover eligible purchases if the merchant will not accept the return up to 90 days from the date of purchase. American Express may refund up to $300 per item, up to $1,000 per year per account.
Purchase protection covers eligible items for 90 days if they are stolen or damaged. American Express covers up to $1,000 per covered purchase and up to $50,000 per eligible card.
Also, you receive complimentary Shoprunner membership. Shoprunner earns you free two day shipping and returns on eligible items from over 100 retailers, like Saks Fifth Avenue and Neiman Marcus (enrollment required).
Alternatives to the Blue Cash Preferred® Card from American Express
We've picked out a few other top cashback credit cards to help you pick the right cashback credit card for your wallet.
Earn 5% back on rotating categories: Discover it® Cash Back
The Discover it® Cash Back offers 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate, 1% unlimited cash back on all other purchases - automatically.
The quarterly categories for 2021 are:
- Q1 (Jan-Mar): Grocery stores, Walgreens and CVS
- Q2 (Apr-Jun): Gas stations, wholesale clubs and select streaming services
- Q3 (Jul-Sept): Restaurants and PayPal
- Q4 (Oct-Dec): Amazon.com, Walmart.com and Target.com
These categories are accessible to nearly all consumers. However, the 5% cash back has a limit of $1,500 in spending, which means that you will maximize this category at $75 each quarter. Anything past the $1,500 threshold each quarter will earn 1% cash back.
The Discover it® Cash Back has a unique offer: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
If you can remember to activate the categories each quarter and the categories fit your spending patterns, you can earn a high rate of cash back with the Discover it® Cash Back card.
Customizable cashback categories: Bank of America® Customized Cash Rewards credit card
The Bank of America® Customized Cash Rewards credit card is another great selection for consumers interested in a cashback credit card with tiered rewards.
The Bank of America gives the following cash back, with a bit of added flexibility:
- 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs (for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% cash back on all other purchases
You’ll earn 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs (for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% cash back on all other purchases. The 3% category can be manually selected, or it will automatically default to gas.
The Bank of America® Customized Cash Rewards credit card also comes with a large $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
Good earning categories and consumer protections: Chase Freedom Flex℠
Similar to the Bank of America® Customized Cash Rewards credit card, the Chase Freedom Flex℠ lets you Earn 5% cash back on eligible purchases in rotating categories, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases.
The categories for 2021 are:
January - March
April - June
July - September
October - December
|Wholesale clubs, internet, cable and phone services||Gas stations and home improvement stores||Grocery Stores (excluding Walmart and Target) and select streaming services||Walmart and PayPal|
Plus, the purchases you make with the Chase Freedom Flex℠ card come with great consumer protection policies, like purchase protection and extended warranty protection. These policies will protect you against damage, theft and faulty products.
On the downside, the Chase Freedom Flex℠ categories aren’t posted until two weeks prior to the beginning of a quarter, so it can be hard to estimate the cash back you could earn. However, the categories do not change significantly from year to year. Check out our Chase Freedom Flex℠ cashback categories guide to see what categories have been posted in the past.
For rates and fees of Blue Cash Preferred® Card from American Express, please click here.
The information related to the Bank of America® Customized Cash Rewards credit card and the Discover it® Cash Back have been independently collected by ValuePenguin and have not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.