American Express Blue Cash Preferred Credit Card: BiggerPockets Review
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The Blue Cash Preferred credit card from American Express is notable for its high cash-back rewards on groceries: You’ll get an impressive six percent cash back at supermarkets—up to a max of $6,000 in spending annually—which can pay off big for real estate investors stocking up for rental properties.
Cardholder benefits include additional perks like a hotline for traveler needs, as well as presale ticket opportunities for concerts and shows and cardholder-only event access.
Up from a more typical $250 cash-back introductory bonus, now American Express is offering a heftier $300 cash back for sign-up. Get it in the form of a statement credit after you spend $1,000 in purchases on the card within the first three months after opening the account. New card holders also get 0% introductory APR for the first 12 months.
You’ll need good or excellent credit to qualify for this card, with a minimum of about 690.
- APR: Intro APR is zero on purchases for 12 months after account opening. Then, it moves to a variable APR ranging from 13.99 to 23.99 percent.
- Annual fee: $95
- Balance transfer fee: N/A
- Foreign transaction fee: 2.7 percent of each transaction after conversion to U.S. dollars
- The sign-up bonus on this card is attractive—even more so while the cash-back offer remains $300.
- At six percent, AmEx Blue Cash Preferred offers some of the best supermarket cash-back rewards available.
- Cardholders also get six percent cash back on entertainment streaming services, and three percent back on transit purchases—including gas.
- Entertainment perks allow access to cardmember-only events as well as exclusive access to ticket presales for shows and concerts.
- Cardholders get access to the Global Assist Hotline for help with unexpected travel issues and emergencies.
- There is a $95 annual fee (although for certain users, the cash-back rewards will easily cancel out that fee).
- If you’re not paying your balance in full each month, the APR can make finance charges steeper than you could find elsewhere (after the 0% introductory period).
- You’ll need a minimum available reward dollars balance of $25 to redeem for statement credits.