Update: This offer for Capital One® Savor® Cash Rewards Credit Card has expired. Learn more about the current offers here.
Recently the Blue Cash Preferred® Card from American Express got a refresh. While I personally like earning travel rewards for my credit card spending, this card is a great option for anyone looking to earn cash back rewards with some bonus categories.
So let’s take a look at some of the details of the card:
Amex Blue Cash Preferred bonus
The Blue Cash Preferred is offering a welcome bonus of a $250 statement credit after spending $1,000 on purchases within the first three months.
Amex Blue Cash Preferred annual fee
Amex Blue Cash Preferred bonus categories
So what makes the Blue Cash Preferred potentially interesting? The card offers:
- 6% cash back on select U.S. streaming subscriptions
- 3% cash back on transit, including taxis, ridesharing, parking, tolls, trains, buses, and more
- 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
- 3% cash back at U.S. gas stations
- 1% cash back on all other purchases
What counts as streaming on the Amex Blue Cash Preferred?
For those wondering what U.S. streaming subscriptions are eligible for 6%, below is the current list. You can find the updated list here, as it’s subject to change.
- Amazon Music
- Apple Music
- CBS All Access
- Direct TV Now
- Fubo TV
- HBO Now
- Kindle Unlimited
- NBA League Pass
- Prime Video Unlimited
- Sling TV
- SiriusXM Streaming and Satellite
- YouTube Music Premium
- YouTube Premium
- YouTube TV
How Amex Blue Cash Preferred cash back works
With the Blue Cash Preferred you earn Blue Cash Rewards Dollars. You can redeem these Dollars for statement credits whenever your available balance is 25 or more.
You cannot use cash back to pay your minimum due.
Amex Blue Cash Preferred 0% intro APR
The Blue Cash Preferred is offering 0% intro APR for 12 months on purchases and balance transfers, and then a variable rate, currently 15.24% to 26.24%.
My take on the Amex Blue Cash Preferred
The Blue Cash Preferred is a rewarding cash back card, though it’s not for everyone.
I appreciate that Amex is updating the bonus categories on this card to better reflect the way people are making purchases nowadays. The 6% cash back on streaming services and 3% cash back on transit, really reflects peoples’ spending patters nowadays.
The fact that this card already offered bonus cash back on supermarkets and gas stations made this a card that was compelling for many.
While I like the bonus categories, the downside is that the card only offers 1% cash back in non-bonused categories, which isn’t really competitive. So if this is a card you get, you’ll want to get it for the bonus categories, rather than for the return it offers on everyday spending.
Alternatives to the Amex Blue Cash Preferred
The Blue Cash Preferred is great if you spend a lot at supermarkets, gas stations, streaming services, and ridesharing, but what are some other cards to consider? If you want to earn cash back:
- Citi® Double Cash Card offers 1% cash back when you make a purchase, and 1% cash back when you pay for that purchase. No annual fee
- Savor® Rewards from Capital One® offers a welcome bonus of up to $500, and offers 4% cash back on dining and entertainment, 2% cash back at grocery stores, and 1% cash back on everything else. $95 annual fee (waived the first year)
- Bank of America® Premium Rewards® Credit Card offers up to 2.625% cash back on all purchases, in conjunction with the Bank of America Preferred Rewards program. $95 annual fee
If you’re looking to earn travel rewards:
- Chase Sapphire Preferred® Card offers double points on dining and travel and great travel protection. $95 annual fee
- Chase Sapphire Reserve® Card has a welcome bonus of up to 50K points and offers triple points on dining and travel, a $300 annual travel credit, a Priority Pass membership, a Global Entry fee credit, great travel protection, and more. $450 annual fee (effectively $150 after $300 travel credit)
- Citi Premier℠ Card has a welcome bonus of up to 50K points and offers triple points on travel and gas, double points on dining and entertainment. $95 annual fee (waived the first year)
- American Express® Gold Card offers 4x points at US restaurants, 4x points at US supermarkets (up to $25,000 per year), and 3x points for airfare purchased directly with airlines, plus offers a $100 annual airline fee credit and up to a $120 annual dining credit. $250 annual fee (Rates & Fees)
These are some very nice improvements that Amex has made to the Blue Cash Preferred. For someone looking to earn cash back who spends a lot on streaming services, ridesharing, supermarkets, and gas stations, this card could be an excellent option.
Personally, I don’t have this card because I value earning rewards towards travel, but for those who don’t want to get involved in the complexities of miles & points, this could be a great option.
The following links will direct you to the rates and fees for mentioned American Express Cards. These include: American Express® Gold Card (Rates & Fees), and Blue Cash Preferred® Card from American Express (Rates & Fees).