Are you in the market for a new card and considering the Blue Cash Preferred® Card? Before you apply for the card, you'll want to learn some key facts about the offer and how it compares to other cards on the market.
First, let's cover the basics. In reviewing the card, we rated it a 4.7 out of 5.0, which means that like many other cards, we found the Blue Cash Preferred® Card to have some solid benefits and some possible drawbacks.
The American Express Blue Cash Preferred® Card is hands-down the best cash back card for grocery store purchases currently on the market. It also offers a market-leading gas rewards rate.
Next up, let's dive into the details you should consider before applying. Here's a rundown of the card's key features, rates, and terms:
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BEST OVERALL RATING
★★★★★
4.7
- Earn $250 back in the form of a statement credit after you spend $3,000 in purchases on your new Card within the first 6 months of Card Membership.
- Earn 6% cash back at U.S. supermarkets on up to $6,000 per year on purchases (then 1%). Also earn 6% cash back on select U.S. streaming subscriptions.
- Earn 3% cash back on transit, including U.S. gas stations, taxis/rideshare, parking, tolls, trains, buses, and more. All other purchases earn 1% cash back.
- $120 Equinox Credit - Use your Blue Cash Preferred Card to pay for Equinox+ at equinoxplus.com and receive $10 in monthly statement credits. Enrollment required.
- 0% intro APR for 12 months from the date of account opening, then a variable APR applies
- $0 intro annual fee for the first year, then $95
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0% for 12 months
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N/A
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18.49% - 29.49% Variable
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$0 intro annual fee for the first year, then $95
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Excellent Credit
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There's certainly a lot to like about the Blue Cash Preferred® Card. But just like with other cards we review, we stress that potential applicants should pay attention to this card's rates and fees as part of the bigger overall picture.
Let's dive deeper into those rates and fees, as they could make or break whether owning the card makes sense for you and your financial situation.
The interest rate, also known as APR (annual percentage rate), tells you what percentage of your balance you can expect to pay in interest annually if you carry a balance.
According to the issuer, the Blue Cash Preferred® Card currently charges the following interest rates on purchases and balance transfers:
- Purchase Intro: 0% for 12 months
- Balance Transfer Intro: N/A
- Regular APR: 18.49% - 29.49% Variable
Another possible expense to consider is the annual fee, which is the amount a cardholder is required to pay each year for the privilege of owning a particular card.
Here's the annual fee for the Blue Cash Preferred® Card as listed by the issuer:
- Annual Fee: $0 intro annual fee for the first year, then $95
See site for details »
So far, we've covered the Blue Cash Preferred® Card in great detail, from its many benefits to its current rates and fees. But what are your odds of approval? What credit score is needed to become a cardholder?
According to the issuer, the current general credit history requirement for the card is:
- Credit Level: Good/Excellent
If you feel you have the credit needed for approval and you're ready to apply, you can do so online on the issuer's secure website.
Keep in mind that rates and features may change, so if you like what the card is offering today, you may want to apply now to lock it in its current terms before it's too late.
We've discussed the many benefits, drawbacks, and requirements of the Blue Cash Preferred® Card, but how does it rank versus similar cards on the market? Below are all the category-specific ratings our team gives the card, along with the card's ranking within each category.
Quick hint: Want to see our best-reviewed cards in each category? Simply click the category name to see our top picks:
All told, our team's review of the Blue Cash Preferred® Card resulted in a rating of 4.7 out of 5.0, as the card features many pros and cons for a potential cardholder to consider. Ultimately, it's up to you to determine if the card's benefits outweigh its possible drawbacks. If you determine that it's a fit for your needs, you may want to apply soon, as terms throughout the industry change regularly.
We hope our guide has been helpful in learning all you need to know about the Blue Cash Preferred® Card. We wish you the very best on your financial journey!
Are you ready to apply for the Blue Cash Preferred® Card offer? Be sure to read up on all of its terms and details first, then apply via the provider’s secure website:
If you’d like to keep researching, you may want to try one of our popular guides to the top offers available. We break down a variety of offers, including many similar to Blue Cash Preferred® Card:
Whether you decide on Blue Cash Preferred® Card or another option, be sure to make all your payments on time and keep your balance below the credit limit.
Toby founded Digital Brands, the parent company of CardRates.com and its sister sites, and now serves as Chairman of the Board. He lends his 15 years of credit card industry experience to educate consumers on the responsible use of credit. His knowledge base spans credit card reward programs to credit repair, lending, and credit bureau reporting.
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