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Previously, a new applicant was offered a mix of statement credits and Amazon credits.
The new American Express Blue Cash Preferred welcome bonus is more simple:
- Earn a $300 statement credit after spending $3,000 within 6 months
- You have 6 months to meet the spend
- Annual fee of $95 is waived the first year (Rates and Fees)
Blue Cash Preferred Benefits
The Blue Cash Preferred® Card from American Express is one of the better cash back cards out there for heavy supermarket spenders, offering the following:
- 6% cash back at US supermarkets for up to $6,000 in annual purchases, then 1X.
- 6% cash back on US streaming services which include Spotify, Netflix, Hulu, HBO, ShowTime, Pandora, Apple Music, and Amazon Music and Video (*Does not include Amazon Prime)
- 3% cash back at U.S. gas stations
- 3% cash back on transit. (This does not include cruises, airfare, or other standard “travel” categories.)
- 1% cash back on everything else
- Terms apply.
It also offers a 0% Intro APR for 12 months on new purchases. (Rates and Fees)
You always have the option to downgrade to the no-annual fee Blue Cash Everyday card which earns 3X instead of 6X at US supermarkets if you find you aren’t spending enough to justify.
(The above link supports MilesTalk)
Welcome Bonus Offer: Earn $200 as a statement credit when you spend $2,000 within 6 months. Terms apply.
Blue Cash Everyday Benefits
- 0% APR on new purchases for 15 months starting when you are approved for the Blue Cash Preferred. After that, your APR will be 13.99% to23.99%, based on your creditworthiness and other factors as determined at the time of account opening. This APR will vary with the market based on the Prime Rate. (Rates and Fees)
- Earn 3% cash back at US supermarkets for up to $6,000 in annual purchases
- Earn 2% cash back at US gas stations and certain US Department Stores
- Earn 1% cash back on everything else.
- No Annual Fee (Rates and Fees)
Should you apply for either card?
The Welcome Bonus offers on both are very good, especially compared to their historical offers – especially if you’ve been eying one for the actual spending categories. Just be aware that neither card earns Membership Rewards points – they both earn straight cash back. But despite the name of this site, I know that many of you still love cold hard cash!
If I wanted either, I’d definitely go for the Blue Cash Preferred since it has the the higher welcome bonus, the annual fee is waived the first year, and you can always convert it later. Of course, you are also eligible to earn the bonus on each card, once per lifetime.
Keep in mind that both are credit cards and will count towards your 5 credit card limit with Amex (Gold and Platinum cards do not count against this limit).
How to Apply
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You can find credit cards that best match your spending habits and bonus categories at Your Best Credit Cards.
New to all of this? My “introduction to miles and points” book, MilesTalk: Live Your Wildest Travel Dreams Using Miles and Points is available on Amazon and at major booksellers.The following American Express cards are mentioned in this article: Rates and Fees for the Blue Cash Preferred(R) Card from American Express | Rates and Fees for the Blue Cash Everyday ® Card from American Express