The Blue Cash Preferred® Card by American Express is a popular choice for individuals seeking a credit card that offers robust cashback rewards and exclusive benefits. With its lucrative rewards program and perks tailored to everyday spending, this card is ideal for families and frequent shoppers. In this article, we delve into everything you need to know about the Blue Cash Preferred® Card, including its benefits, application process, fees, and more.
Key Benefits of the Blue Cash Preferred® Card
The Blue Cash Preferred® Card is packed with features designed to reward cardholders for their spending habits. Below are its standout benefits:
- 6% Cash Back on U.S. Supermarkets: Earn 6% cashback on up to $6,000 per year in purchases at U.S. supermarkets, then 1% thereafter.
- 6% Cash Back on Select Streaming Subscriptions: Enjoy rewards for popular streaming services such as Netflix, Hulu, and Disney+.
- 3% Cash Back on Transit: Earn 3% cashback on transit expenses, including taxis, rideshares, parking, tolls, trains, and buses.
- 3% Cash Back at U.S. Gas Stations: Ideal for commuters and road-trippers, this perk ensures your fuel purchases are rewarded.
- 1% Cash Back on All Other Purchases: Earn rewards on everything else you buy.
- Introductory APR Offer: Take advantage of a 0% introductory APR on purchases for the first 12 months, followed by a variable APR.
Eligibility and Prerequisites
To apply for the Blue Cash Preferred® Card, applicants must meet specific criteria:
- Age Requirement: Applicants must be at least 18 years old.
- Creditworthiness: A good to excellent credit score (typically 670 or higher) is recommended.
- Income Verification: Provide proof of income to demonstrate your ability to manage credit responsibly.
- U.S. Resident: Applicants must reside in the United States and have a valid Social Security Number.
About American Express
American Express, often referred to as Amex, is a global financial services company known for its premium credit cards and excellent customer service. Established in 1850, the company has built a reputation for trust and innovation in the financial sector. American Express serves millions of customers worldwide, offering a variety of financial products and services, including credit cards, travel services, and business solutions.
Who Should Apply for This Card?
The Blue Cash Preferred® Card is tailored for individuals and families who spend heavily in the following categories:
- Grocery Shoppers: Those who frequently purchase groceries from U.S. supermarkets will benefit from the 6% cashback rate.
- Streaming Enthusiasts: If you subscribe to multiple streaming services, this card’s cashback on subscriptions is a significant perk.
- Commuters: With 3% cashback on transit and gas stations, this card caters to those who rely on various transportation methods.
If you regularly spend in these areas and can pay your balance in full each month to avoid interest charges, the Blue Cash Preferred® Card could be an excellent fit for you.
How to Apply for the Blue Cash Preferred® Card
Follow these steps to apply for the Blue Cash Preferred® Card:
- Visit the Official Website: Go to the American Express Blue Cash Preferred® Card application page.
- Check Eligibility: Review the card’s prerequisites to ensure you qualify.
- Fill Out the Application: Provide your personal information, including your name, address, Social Security Number, and income details.
- Submit Your Application: Once you’ve completed the form, submit it online.
- Await Approval: American Express typically provides a decision within minutes. If approved, your card will be mailed to you.
- Activate Your Card: Once received, activate your card by following the instructions provided.
You can also apply via the American Express mobile app, available for Android and iOS.
Pros and Cons
Pros:
- Exceptional cashback rates in key categories.
- Valuable introductory APR offer.
- No foreign transaction fees.
- Comprehensive purchase and travel protections.
Cons:
- Annual Fee: $95, waived for the first year.
- Cashback rewards cap on supermarket purchases.
- Requires good to excellent credit for approval.
Fees and Rates
Understanding the costs associated with the Blue Cash Preferred® Card is essential. Below is a summary:
- Annual Fee: $95 (waived for the first year).
- Variable APR: Ranges from 18.24% to 29.24% based on creditworthiness.
- Penalty APR: Up to 29.99% for late or missed payments.
- Balance Transfer Fee: $5 or 3% of the transfer amount, whichever is greater.
- Cash Advance Fee: $10 or 5% of the advance amount, whichever is greater.
Customer Service and Support
American Express is renowned for its customer support. Cardholders can access assistance through multiple channels:
- Website: Visit the American Express Support Page.
- Phone Support: Call the number on the back of your card for 24/7 assistance.
- Mobile App: Manage your account and seek help through the app.
- Live Chat: Available via the American Express website and app.
Final Thoughts
The Blue Cash Preferred® Card by American Express is a versatile and rewarding credit card for individuals who spend significantly on groceries, streaming services, transit, and gas. While the annual fee may deter some, the cashback benefits can far outweigh the cost for those who maximize the rewards. Ensure that the card aligns with your spending habits and financial goals before applying.
