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There are some cash back credit cards that are so lucrative that you should consider them even if you are not a “cashback person.”
The Amex Blue Cash Preferred is certainly one of those cards, especially right now when it has one of its great limited-time offers. Take a look at the new offer that is perfect for grocery store/streaming spenders and those who might be interested in 0% APR as the holidays approach.
Offer no longer available.
Right now, you can earn $300 cash back after you spend $3,000 in purchases within the first six months of account opening.
And in addition to that, the $95 annual fee for this credit card is waived the first year. Learn how to apply here.
This is a solid deal and is worthy of WalletFlo diamond ranking 💎 — I’ll explain why.
First, getting $300 is generally a solid cash back welcome bonus but more importantly, it’s one of the best bonuses offered for this card. Typically, this bonus is limited to $250 cash back.
Second, in this case, the spend requirement is $3,000 but you get a full six months to reach it. All you have to do is spend $500 per month to hit the minimum spend and many people can do that with groceries alone.
And finally, the annual fee is waived the first year, so there is no risk of dropping into the negative the first year if you don’t hit your bonus for some reason.
Tip: Use WalletFlo to help you optimize your credit cards. It’s free and will help you get approved for some of the best travel cards!
The Amex Blue Cash Preferred card is special because of its bonus categories, which include:
- 6% back at US supermarkets, on up to $6,000 per year in purchases (then 1%)
- 6% back on select U.S. streaming subscriptions
- 3% back on transit
- 3% cash back at US gas stations
As you might’ve guessed the main attraction here is the 6% back on US supermarkets on up to $6,000 of spend.
6% of $6,000 is $360.
This means that if you earn the Amex Blue Cash Preferred welcome bonus and max out your grocery spend, you will earn $660 in rewards before you ever have to pay an annual fee.
I will say that one major consideration is whether or not you should get the Amex Gold Card — another great card for groceries (and dining).
I usually prefer to earn 4X on groceries with the Amex Gold Card (up to $25,000 per year). That is because I value Membership Rewards at 1.75 cents per point so 4X comes out 7% back.
(It’s worth remembering that the Amex Blue Cash Preferred does not earn Membership Rewards.)
The other big reason to get the Gold Card is that it currently comes with an all-time high 60,000 point offer after you spend $3,000 in the first six months.
If you value Membership Rewards at 1.75 cents per point, that’s $1,050 worth of points. This is almost twice as high as the standard welcome bonus!
Tip: Because the Gold Card is a charge card and the Blue Cash Preferred is a credit card, you can get both at the same time. If you want to diversify your earnings between points and cash back, that’s a great move especially since the annual fee is waived the first year for the Blue Cash Preferred.
It’s worth noting that you can also compound your points by earning a super competitive 6% back on streaming subscriptions. The only issue with this category is that you need to be spending a whole lot of money on streaming in order to earn serious rewards.
You can look to capture savings on Amazon Music Unlimited, Apple Music and TV, Disney+, ESPN+, Hulu, iHeartRadio, Sling TV, SiriusXM, Spotify, YouTube TV, and others.
The 3% back on transit is pretty decent and the 3% cashback on gas is pretty good as well.
Something else at this card has to offer Is a 0% APR period.
You will not have to pay interest for 12 months on your purchases with this card which is absolutely perfect for someone gearing up for some holiday shopping.
This is a very attractive offer for somebody looking to earn a solid amount of cash back, especially if you are into spend on groceries and streaming. Since you now have six months to obtain the welcome bonus and the annual fee is waived the first year, it’s easier than ever to earn over $600 in cash back with only a moderate level of spend.
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Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.