American Express Blue Cash Preferred Review: Perhaps the Ultimate Family Card

Features

• Annual Fee: $0 intro for the first year, then $95, balancing its premium rewards.
• Rewards: 6% back at U.S. supermarkets (on up to $6,000 per year) and on select U.S. streaming subscriptions; 3% back at U.S. gas stations and on transit.
• Welcome Offer: $250 statement credit after spending $3,000 in the first 6 months.
• APR: 0% intro APR for 12 months on purchases and balance transfers, then a variable APR of 19.24%-29.99%.

Benefits

• Supermarket Rewards: Unrivaled 6% cash back at U.S. supermarkets, up to $6,000 annually, then 1%.
• Streaming Service Rewards: Earns 6% back on select U.S. streaming subscriptions without a spending cap.
• Transit and Gas Rewards: 3% cash back on U.S. gas station purchases and transit, including rideshares and public transport.
• Intro APR Period: Offers financial flexibility with a 0% intro APR on purchases and balance transfers for the first 12 months.

Drawbacks

• Annual Fee: After the first year, the $95 annual fee requires strategic spending to justify.
• Rewards Cap: The $6,000 cap on supermarket spending may limit earnings for large families.
• Category Restrictions: Rewards for supermarkets and gas stations are limited to U.S. purchases and exclude superstores and wholesale clubs.

Product Summary

The American Express Blue Cash Preferred Card is a premier choice for families who spend significantly on groceries, streaming services, and transit. The 6% cash back at U.S. supermarkets and on streaming services are among the highest available, making it a potentially lucrative card for everyday family expenses. Despite the annual fee, strategic spenders can easily recoup this cost and more, thanks to the generous cash-back rates. The inclusion of transit as a bonus category further enhances its value, catering to the needs of commuters. However, the cap on supermarket spending and the limitation to U.S. purchases may require some planning to maximize rewards. Overall, for families looking to get the most out of their daily expenditures, the American Express Blue Cash Preferred Card offers compelling rewards and benefits that can lead to significant savings.