Credit rewards cards are everywhere on the current market and if you want more bang for your buck when you commit to a credit card, you really need to make the most of any and all offers that are laid out for you by the issuer. Balance the rewards against factors such as probable usage, fees and standard features before taking that all important step to sign up.
Today we take a look at the Blue Cash Preferred from American Express, a stunning new rewards card that offers the owner cash rewards instead of points. It is one of two updated credit cards that have replaced Amex’s original Blue Card. The Blue Card had more than a few flaws that were highlighted by bad advertising, but the banking giant have straightened out all of their mistakes by releasing both the Blue Cash Preferred and the Blue Cash Everyday Card in its place. Boasting some of the most attractive features available, American Express really is pulling out all the stops to make up for their previous lousy choices and to draw in the consumer. This is the version with the $75 annual fee.
So what does the Blue Cash Preferred from American Express have to offer me?
Well, this card can offer you a lot. To start with, the Blue Cash Preferred offers all card holders a whopping 6% cash back for their grocery spending; if you consider that many competing reward cards offer just 1%-2% cash back on all everyday purchases, Amex have not just risen to the rewards challenge, they’ve set the bar far above it. They have introduced a spending limit of $6,000 per year on the perk, which many existing card holders are not happy about, but the feature is still a head and shoulders above even the next most competitive card. The Blue Cash Preferred also holds a 3% cash back offer at gas stations and participating U.S. department stores and 1% on all other purchases.
A new credit rewards card feature that we haven’t seen before is American Express’ Amazon Prime membership team-up reward. Basically, if you sign up for a new Amazon Prime membership account using your Amex card, you will get $79 (plus tax) statement credit in return. This gives you a free Amazon Prime membership account for the first year, but be careful to adjust your membership account settings on Amazon, as you will automatically be billed to your card every year following, for the continuing membership. Becoming an Amazon Prime member will allow card holders to receive free two-day shipping on an unlimited amount of participating items, instant media streaming and the ability to borrow one Kindle book free each month.
But that’s not all… The standard features of this card are as long as your arm!
Yes, the standard features of Blue Cash Preferred from American Express really are as long as your arm, take a look here or on the website…
- Card holders will receive a $100 reward if they spend $1,000 within the first three months of ownership which can be redeemed as statement credit
- There is an introductory 0% APR on purchases and balance transfers for a massive 15 months. After that, the APR variable will be between 12.99% to21.99%
- Card holders can earn a $75 bonus for each friend referred to Amex and approved for the card, with no limit on the amount of referrals.
- Card holders can earn cash back on existing bills (such as landline and mobile phone bills) by signing up individually with each provider.
- Reward Dollars can be converted into statement credits, gift cards and selected merchandise, card holders can start redeeming with a minimum of 25 Reward Dollars
- Card holders can add additional cards to their Amex account with no additional annual fees
- Access your account easily online
- Card holders have the ability to carry a balance over or pay it in full
- Get tailored roadside assistance and Car Rental Loss and Damage Insurance
- 24/7 access to Amex’s Global Assist Hotline for medical, legal, financial and other emergency assistance. This includes medical and legal referrals, visa/passport help, assistance with cash wire transfers, lost luggage and much more
- Travel Accident Insurance
- Exclusive entertainment access with ticket presales and Card Member-only events
- Exclusive Broadway shows, concert tours and family and sporting events perks
- Extended Warranty for up to a year on all eligible purchases
- Purchase Protection from accidental damage or theft for up to 90 days
- Returns Protection
- Card holders can enjoy simplified dispute resolution, if there’s a fraudulent or mistaken charge on your account statement, American Express will work with you and the vendor involved, helping to resolve the issue quickly and fairly.
What is the downside of this card?
There is an annual fee of $75 on the Blue Cash Preferred which is not wavered in the first year like many other competing rewards cards and that is just about it.
So, is the Blue Cash Preferred from American Express the card for me?
On the face of it, yes. The Blue Cash Preferred card is barely rivalled by its competitors, let alone bettered by them. American Express is an established name in the credit card industry as well as the industry of banking in general and the peace of mind that comes from signing up to such a world renowned, reputable company also makes this card worthwhile. Consumers can be assured that customer service is paramount and that there will always be an advisor on the end of the phone for absolutely any inquiry.
So if you want to earn massive extra cash bonuses on all of your spending and you want to receive a huge array of special perks and benefits from a trusted provider, the Blue Cash Preferred really will be the best card for you.