Review: Blue Cash Preferred® from American Express | The Motley Fool (2024)

It can be easy to get carried away at the supermarket, especially if you make the mistake of shopping hungry.

But that extra spending doesn’t have to be a drag on your budget. Instead, it can put a bunch of extra cash back in your pocket. Up to 6% back at U.S. supermarkets ($6,000 annual spending cap), which is the highest U.S. supermarket cash back rate we’ve come across (and we’ve reviewed hundreds of offers). Terms apply.

All you need to do is add the Blue Cash Preferred® Card from American Express to your wallet. And the cherry on top? This card currently offers a hefty $250 welcome offer statement credit that's earned for spending $3,000 on purchases in the first 6 months. Terms apply.

Check out all the juicy details below for why this card could be a great addition to your cart.

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Cash back reigns supreme with the Blue Cash Preferred® Card from American Express. Here’s a breakdown of its generous rates:

• 6% back at U.S. supermarkets, capped at $6,000 per calendar year (then 1%)
• 6% back on select streaming subscriptions
• 3% back at U.S. gas stations
• 3% cash back on transit including taxi/rideshare, parking, tolls, trains, buses, and more
• 1% back on other spending
• Terms apply

The best part is that 6% back is one of the highest rates I’ve come across for cash back cards. And it’s not just relegated to quarterly spending in a one-off category where you might not be able to fully maximize your rewards -- it’s 6% back at U.S. supermarkets -- one of the biggest expense categories for most consumers.

In fact, this perk is so valuable that if you spend just $500 a month at U.S. supermarkets, you'll max out that 6% back each year for $360 total cash back.

$250 welcome offer: The spending minimum for this bonus statement credit is $3,000 within the first 6 months. As far as cash back cards are concerned, this is one of the biggest welcome bonuses.

0% intro APR: You'll have a 0% intro APR for the first 12 months on purchases and balance transfers, after which the go-to rate is 19.24%-29.99% Variable. There are cards out there with longer intro periods if you'll need more time to pay everything off, but the Blue Cash Preferred® Card from American Express still does well here, given that cards with high cash back rates and bonuses often don't even have 0% intro APRs. (see rates and fees)

Travel and purchase protections: American Express has put together a nice list of protections rivaling those of other popular credit cards. This card gets you rental car insurance*, accidental damage and theft coverage, return protection**, and extended warranty coverage.*** Terms apply.

The Blue Cash Preferred® Card from American Express could be a valuable addition to your wallet. Here are the most common situations where this card is worth a look:

• You spend at least $135 per month at U.S. supermarkets, which will cover the cost of the annual fee (see rates and fees) in cash back.
• You want a hefty, easy-to-earn welcome bonus
• You want a card that has big rewards and a solid 0% intro APR offer.

* Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

** With Return Protection, you may return eligible purchases to American Express if the seller won't take them back up to 90 days from the date of purchase. American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express® Card. Purchases must be made in the U.S. or its territories. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details.

*** When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.