The Blue Cash Preferred® Card from American Express is a rewards-based credit card, offering users the ability to earn cash back on their purchases. This review considers various aspects of this product, including its key features, fees and charges, and customer reviews. The review provides an overview of the benefits associated with this card, as well as identifying potential drawbacks for prospective customers.
This review begins by considering the main features offered by the Blue Cash Preferred® Card from American Express. It then explores the fees and charges applicable to using the card, along with any additional costs that may be incurred when taking advantage of promotional offers or rewards points. Finally, it looks at customer feedback regarding this card in order to gain further insight into how successful customers have been in utilizing these benefits effectively.
By examining each of these elements in detail, this comprehensive review will provide readers with a clearer understanding of what they can expect should they choose to apply for the Blue Cash Preferred® Card from American Express.
Overview
The Blue Cash Preferred® Card from American Express is a popular credit card choice among consumers. It offers rewards, cash back bonuses and low interest rates for those who qualify. The annual fee for this card is $95, but it can be waived the first year of use if requested. Additionally, there is an introductory 0% APR on purchases and balance transfers for 12 months from account opening.
Cardholders receive 3% cash back at U.S supermarkets (up to $6,000 per calendar year in purchases), 2% at select U.S department stores, and 1% on all other eligible purchases. There are no rotating categories or bonus limits; points earned never expire as long as the account remains open and in good standing. The Blue Cash Preferred also includes travel benefits such as car rental loss & damage insurance, extended warranty protection, roadside assistance hotline access and purchase protection coverage against theft or accidental damage up to 90 days after purchase date.
Benefits And Rewards
The Blue Cash Preferred® Card from American Express offers a range of benefits and rewards that are designed to provide value for cardholders. The primary benefit is the cashback reward system, which provides up to 6% cash back on select purchases made at U.S. supermarkets, 3% cash back on gas station purchases and department store purchases, 1% cash back on all other eligible purchases, as well as an extra $200 after spending a minimum of $1,000 in the first three months of opening account. Additionally, there are no annual fees or foreign transaction fees associated with this card. Furthermore, cardholders receive access to exclusive savings offered by Amex OffersTM plus purchase protection when shopping online or in-store.
In addition to these rewards and benefits, customers can take advantage of additional features such as fraud protection if their card is lost or stolen; car rental loss and damage insurance; extended warranty coverage; travel accident insurance; roadside assistance program; complimentary ShopRunner membership with free two day shipping and returns within the US at over 100 stores; mobile app capabilities including 24/7 customer service chat support; access to Global Assist Hotline services when travelling abroad; and access to special events through American Express Experiences. These added perks make the Blue Cash Preferred® Card from American Express an attractive option for those looking for convenience and flexibility while earning great rewards along the way.
Fees And Charges
The Blue Cash Preferred® Card from American Express has a $95 annual fee. This fee is waived for the first year, and then applies every 12 months thereafter. There are also no foreign transaction fees with this card, which can save money on international purchases.
Other potential charges include late payment fees of up to $40 if payments are not made on time; returned payment fees of up to $40 if a payment is returned due to insufficient funds or other errors; balance transfer fees of either 3% or $5 (whichever is higher); cash advance fees ranging between $10 and 5% of the amount advanced; and interest rates of 17.99%-25.99%, based on creditworthiness. Customers should be aware that all transactions will have associated costs and should factor these into their decision-making process when using this card.
Eligibility Requirements
The Blue Cash Preferred® Card from American Express is a great rewards card option for those who spend heavily in certain categories, such as groceries and gas. However, it’s important to understand the eligibility requirements before applying. In order to be approved for this particular credit card, applicants must meet certain criteria.
Applicants must have an active U.S. bank account with at least six months of history and must not currently hold any other American Express cards or have had one within the past twelve months. They must also have a minimum income of $25,000 per year or a total annual household income of $40,000. Additionally, applicants should have no more than four open credit accounts on their report; otherwise they may not qualify for approval. Lastly, all applicants are subject to credit review and verification by American Express prior to being issued a new card.
Understanding these eligibility requirements can help ensure that you will be able to successfully apply for the Blue Cash Preferred® Card from American Express and receive its many benefits. By taking the time to confirm your qualifications beforehand, you can maximize your chances of having your application accepted and enjoying all that this card has to offer!
Application Process
The American Express Blue Cash Preferred® Card application process is simple and straightforward. It can be completed online or over the phone in a matter of minutes. Applicants must provide personal information such as their name, address, income, Social Security number and date of birth to apply for the card. Once all required information has been provided, applicants will receive an immediate decision from American Express regarding their eligibility for the card.
If approved, new cardholders may begin using the Blue Cash Preferred® Card immediately upon receipt with no annual fee for the first year. As one of the benefits offered by this credit card, applicants are eligible for cash back rewards on certain purchases which can be used towards future payments or redeemed as statement credits when making qualifying purchases.
Pros And Cons
Having discussed the application process, it is important to consider the pros and cons of the Blue Cash Preferred® Card from American Express. The card offers a variety of benefits that can make purchasing more convenient for consumers. These include rewards points, cash back on purchases, no annual fee, fraud protection, access to exclusive events and discounts, and customer service support. Additionally, customers are able to customize their spending limits which helps them maintain control over their finances.
On the other hand, there are some drawbacks associated with this credit card as well. Customers may be charged an additional 2% foreign transaction fee when using the card abroad or in certain international locations. Furthermore, they must also pay a 3% balance transfer fee if they wish to move balances between cards or accounts. Finally, late payments will incur penalty fees and interest charges which can add up quickly.
Conclusion
The Blue Cash Preferred® Card from American Express is a rewards-based credit card that offers users a range of benefits and rewards. There are no annual fees for the card, however there are various charges associated with its use. In order to be eligible for the card, applicants must meet certain requirements set by American Express. The application process itself is relatively straightforward, making it an accessible option for those interested in obtaining this type of credit card.
Overall, the Blue Cash Preferred® Card from American Express has many advantages over other types of reward cards. These include generous cash back bonuses on everyday purchases and access to exclusive discounts at select retailers. Additionally, members can take advantage of special promotional offers throughout the year which provide additional savings opportunities. Furthermore, they have access to convenient online account management tools that allow them to keep track of their spending activity and manage their finances more easily.
In conclusion, the Blue Cash Preferred® Card from American Express is an ideal choice for individuals looking for a reliable rewards-based credit card offering attractive benefits and perks. While there may be some minor fees or eligibility criteria associated with its use, these are generally minimal compared to what one would expect when applying for any kind of credit product. As such, anyone considering this type of credit should consider the pros and cons carefully before deciding if it’s right for them.