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Verdict: Blue Cash Preferred® is one of the best cash back rewards cards of 2017 for good reason. It is hard to beat 6% cash back on your first $6,000 of groceries at U.S. stand-alone supermarkets (and 1% after that), unlimited 3% cash back on gas purchases at ANY U.S. stand-alone gas station, and 1% back everywhere else. This card provides bonus cash back where most families spend their money.
It’s important to note that this card comes with a $95 annual fee. There is a no annual fee version called Blue Cash Everyday – and we recommend that card if you are not going to be maximizing your rewards on groceries, gas, and at department stores.
Blue Cash Preferred or Blue Cash Everyday?
Do you spend at least $3,167 per year in groceries? If you do, you will earn enough additional cash back rewards with Blue Cash Preferred to justify the annual fee.
Key Features & Benefits
The top perks offered by Blue Cash Preferred® from American Express are:
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Blue Cash Rewards Program Overview
The Blue Cash Preferred rebate program is very straightforward. There are no rotating categories to sign up for each quarter. If your family spends a lot on gas, groceries and clothing, this card offers you the opportunity to earn a lot of cash back rewards.
Shortcomings of Rewards Program
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Interest Rate, Fees & Other Fine Print
This card carries an annual fee (it was $75 until August 3, 2016). It also comes with a late-payment and returned-payment fee, as well as a foreign transaction fee. Overall, the fees are a bit high on this card – and can easily wipe out any rewards you earn.
However, we do like the 12 month introductory APR offer for purchases and balance transfers – just watch out for the fee on those other transfers.
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How Blue Cash Preferred Compares to Other Cash Back Rewards Cards
Our Guide to Cash Back cards provides some nice tables and tips on choosing which cash back card will maximize your rewards. You can even see estimates of what different rewards cards will earn you back in a year based on spending levels.
For those deciding between Blue Cash Preferred and the Everyday credit card, read on…
Blue Cash Preferred vs. Blue Cash Everyday
The Amex Blue Cash Preferred is similar to the American Express Blue Cash Everyday card, except for these few key differences:
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Conclusion
Blue Cash Preferred is a great credit card for bigger spenders as it allows you to maximize your rewards on groceries, gas, and clothing. The useful American Express features, such as the Buyers Assurance Plan and Return Protection are an added bonus.
