Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express

Blue Cash Preferred from American Express Card: Big Cash Back, Small Annual Fee

Blue Cash Preferred from American Express Card: Big Cash Back, Small Annual Fee

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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

$0 introductory annual fee for the first year, then $95

13.99%-23.99% Variable

Excellent/Good

  • Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
  • $0 introductory annual fee for one year, then $95.
  • 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.
  • Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee.
  • 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: 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.

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 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 a $300 statement credit 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.

Shopping benefits

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.

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® Cash Rewards credit card

The Bank of America® 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® 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℠

  • On Chase's Secure Website

Similar to the Bank of America® 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 servicesGas stations and home improvement storesTBDTBD
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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.

The information related to the Bank of America® 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.

Brett Holzhauer

Brett Holzhauer is ValuePenguin’s travel rewards expert, focusing on credit card rewards maximization, consumer travel trends, and personal finance news. He has earned and burned over 5 million points and miles throughout his travels, saving him roughly $75,000 in travel expenses.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).

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