The Blue Cash Preferred® Card from American Express is a nice to have credit card with some good benefits, especially in the first year of membership. It is amongst the more popular credit cards from American Express which suits individuals with good credit profile.
This credit card offers 6% cashback on up to $6,000 of purchases per year at U.S. supermarkets. It offers 6% cashback on U.S. streaming services, 3% cashback on transit and U.S. gas stations. And finally, 1% cashback on rest of the purchases. So, just based on that one can understand it is a very good card to have for daily use purchases.
One can also earn a welcome bonus of $250 after spending $3,000 in purchases within the first 6 months of card membership. This is again a good and easy to earn benefit as the purchase requirements are relatively low. It also offers other benefits which may require enrolment.
This credit card also comes with a promotional APR of 0% for 12 months on both purchases as well as Balance Transfers, which is a great benefit to have if a large purchase comes up. After that a variable APR in the range of 18.24% to 29.24% applies. (Rates and Fees)
While this card doesn’t attract an annual fee for the first year, you will have to pay an annual fee of $95 (Rates and Fees) second year onwards, which does hamper the rewards a bit.
So, who is it good for?
If you have an established credit history with not many credit cards, then this card could be of help in building your credit further while earning rewards
If you are a regular spender on streaming services or plan to use this card for groceries, then the rewards you can earn may outweigh the potential costs.
If you have a large purchase that you want to make and pay that balance over time, then the 0% introductory APR could be of big help as you won’t incur any interest on the debt.
Who is it not good for?
If you are looking for inexpensive options along with some cashback and 0% introductory APR options, then there are better options in the market.
If you are hoping for a large welcome bonus, then again there might be better options in the market.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.