When it comes to maximizing cash back rewards, the Blue Cash Preferred Card from American Express stands out as one of the best options available, especially if you’re someone who spends a lot on groceries, gas, and streaming services. Offering impressive cash back rates in these key spending categories, this card is ideal for individuals who want to earn rewards quickly without needing to track rotating categories or jump through other hoops.
If you’re comparing it with other cards, you might find the Blue Cash Preferred Card to be a real contender, especially given its higher rewards in specific spending areas. But how does it measure up against its competitors? Let’s take a deep dive into its features and compare it with other top cash back cards to see what makes it unique.
Key features of the Blue Cash Preferred Card from American Express
Here’s a breakdown of what makes the Blue Cash Preferred Card from American Express an attractive option for many people:
1. High cash back on groceries
One of the biggest draws of the Blue Cash Preferred Card is the 6% cash back on U.S. supermarket purchases, up to $6,000 per year (then 1%). For families or individuals who spend a lot on groceries, this can lead to significant savings. Grocery stores are a large part of most people’s monthly budget, and this rate makes the Blue Cash Preferred Card one of the best in its class for grocery spending.
2. 5% Cash back on U.S. Gas stations
The Blue Cash Preferred Card offers 5% cash back on gas purchases made at U.S. gas stations (on up to $6,000 per year). For drivers who frequently fill up their tanks, this is another opportunity to rack up rewards quickly. Gas can be a major expense, especially with fluctuating prices, so earning cash back on it can help offset costs.
3. 3% Cash back on U.S. Streaming services
In addition to its grocery and gas rewards, the Blue Cash Preferred Card offers 3% cash back on U.S. streaming services, such as Netflix, Hulu, and Disney+. This is a great perk if you’re someone who enjoys streaming movies, TV shows, or music regularly, as it gives you rewards on services you’re already paying for.
4. $95 Annual fee
While the Blue Cash Preferred Card offers generous rewards, it does come with a $95 annual fee. While this may seem high at first glance, if you’re able to maximize the rewards in the grocery and gas categories, the fee can quickly pay for itself. However, if you don’t spend much on groceries or gas, you might want to consider a no-annual-fee option.
5. 0% Introductory APR
For those who are looking to make a big purchase and need some time to pay it off, the Blue Cash Preferred Card offers a 0% intro APR on purchases for the first 12 months. This is a nice bonus if you’re planning a large expense and want to pay it off without incurring interest.
How does the Blue Cash Preferred Card compare to other cash back cards?
While the Blue Cash Preferred Card is fantastic for grocery shoppers and those with high gas expenses, how does it measure up against other popular cash back cards on the market? Let’s compare it to other top contenders in the cash back credit card space.
1. Citi Double Cash Card
The Citi Double Cash Card offers 1% cash back on every purchase, and then 1% when you pay your bill, which gives you a total of 2% cash back on all purchases. It doesn’t have bonus categories, so it’s an excellent option if you don’t want to worry about keeping track of where you’re spending. However, for those who spend a lot on groceries, gas, or streaming, the Blue Cash Preferred Card offers much better rewards, especially in those categories.
2. Chase Freedom Unlimited
The Chase Freedom Unlimited offers 1.5% cash back on all purchases, with 5% cash back on travel purchased through the Chase Ultimate Rewards portal and 3% on dining and drugstore purchases. If you’re a frequent traveler or dine out a lot, the Chase Freedom Unlimited might be a better option for you. However, for grocery and gas spending, the Blue Cash Preferred Card takes the lead.
3. Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card is another solid option, offering 1.5% cash back on all purchases, with no rotating categories or spending limits. Like the Citi Double Cash Card, it’s ideal for those who want a flat-rate reward on every purchase. While this simplicity is great for some, it doesn’t offer the high rewards in specific categories that the Blue Cash Preferred Card does.
4. Discover It cash back
The Discover it Cash Back card is known for its 5% cash back on rotating categories each quarter (up to $1,500 in purchases). If you’re able to stay on top of these categories and maximize them, it can be a great option. However, if you don’t want to track rotating categories, the Blue Cash Preferred Card is a better option with its consistent rewards for groceries, gas, and streaming.
Who Is the Blue Cash Preferred Card Ideal For?
The Blue Cash Preferred Card is perfect for people who:
- Spend a lot on groceries: With 6% cash back on supermarket purchases (up to $6,000 per year), it’s one of the best cards available for grocery shopping.
- Drive frequently: The 5% cash back on gas makes it ideal for anyone who commutes or drives often.
- Love streaming services: The 3% cash back on streaming subscriptions like Netflix and Spotify makes it perfect for entertainment enthusiasts.
- Are okay with paying an annual fee: While there’s a $95 annual fee, the rewards you earn can quickly offset this cost if you spend in the right categories.
Comparison Table
| Feature | Blue Cash Preferred Card | Citi Double Cash Card | Chase Freedom Unlimited | Capital One Quicksilver |
|---|---|---|---|---|
| Annual Fee | $95 | $0 | $0 | $0 |
| Cash Back Rate (Groceries) | 6% (on up to $6,000 per year) | 1% | 1.5% | 1.5% |
| Cash Back Rate (Gas) | 5% (on up to $6,000 per year) | 1% | 1.5% | 1.5% |
| Cash Back Rate (Streaming) | 3% | 1% | 1.5% | 1.5% |
| Intro APR | 0% for 12 months on purchases | N/A | 0% for 15 months on purchases | 0% for 15 months on purchases |
| Sign-up Bonus | None | None | $200 after spending $500 in 3 months | $200 after spending $500 in 3 months |
| Foreign Transaction Fee | None | None | None | None |
Conclusion
The Blue Cash Preferred Card from American Express is an excellent choice if you’re someone who spends a lot on groceries, gas, and streaming services. Its high cash back rates make it one of the best cards in its category, especially for families or anyone looking to maximize their rewards in specific areas. While the $95 annual fee might deter some, the benefits often outweigh the cost, especially if you use the card for the right purchases.
If you’re looking for a cash back card that focuses on everyday spending with high rewards, the Blue Cash Preferred Card is worth considering!