The Bread Cashback American Express Credit Card is a popular choice for those seeking a straightforward rewards program with a generous cash back offering. With an unlimited 2% cash back on virtually all purchases and no annual fee, this card is suitable for individuals looking to maximize their everyday spending rewards.
According to Money Crashers, the card also features Amex Offers, which provide additional perks and savings opportunities for cardholders. This Bread Cashback American Express Credit Card review will cover its advantages, potential drawbacks, and overall utility to help prospective users make an informed decision.
Card Overview
The Bread Cashback American Express Credit Card is a rewards card that offers cardholders the opportunity to earn cash back on their everyday spending. With no annual fee and a simple rewards structure, it might be a suitable choice for those looking for a straightforward cashback card.
Cardholders earn a flat 2% unlimited cashback rate on all purchases made using the card. This means that regardless of the category or the amount spent, you can expect to receive the same cashback rate for all transactions. There are no limits on the amount of cash back you can earn, and no expiration date on the rewards, making this card a hassle-free option for those who prefer low-maintenance rewards programs.
Some additional benefits that come with the Bread Cashback American Express Credit Card include identity theft protection and potential access to lower than average purchase APRs. However, there are no foreign transaction fees, making it a convenient option for international travelers.
The Bread Cashback American Express Credit Card is aimed at consumers with good to excellent credit scores. According to a USA Today review, the recommended credit score range for this card is between the good to excellent range, indicating that those with higher credit scores are more likely to be approved for the card.
Rewards and Benefits
The Bread Cashback American Express Credit Card offers cardholders an unlimited 2% cash back on all purchases, with no reward caps or spending categories to worry about. The cashback rewards are competitive, and the absence of complex categories ensures that earning rewards is straightforward and hassle-free.
Moreover, the card has no annual fee and a potentially lower-than-average purchase APR of 19.74%. This makes it a cost-effective option for those looking for a basic but rewarding credit card.
Cardholders also benefit from no minimum redemption amount, allowing them to redeem their cash back rewards at any time and in any increment they prefer.
Additional advantages include Identity Theft Protection and no foreign transaction fees, providing added security and convenience when traveling or making overseas purchases.
The Bread Cashback American Express Credit Card also utilizes the Amex Offers program, which rewards cardholders at various shopping, dining, travel, and entertainment partners. To access these rewards, cardholders simply need to enroll their eligible card.
Fees and Interest Rates
The Bread Cashback American Express Credit Card has a competitive fee structure, as it comes with a $0 annual fee. This makes it a desirable option for those seeking a straightforward cashback rewards card without extra costs associated with card ownership.
One of the potentially advantageous aspects of the card is its purchase APRs, which according to Supermoney, can be lower than average. The specific APR will be determined by the cardholder’s creditworthiness, but it’s worth considering for those who occasionally carry a balance.
As for foreign transaction fees, the Bread Cashback American Express Credit Card does not charge any, making it a good option for travelers. Additionally, the card provides identity theft protection, giving cardholders peace of mind while making purchases online and in person.
Pros and Cons
The Bread Cashback American Express Credit Card offers certain advantages and disadvantages to users. In this section, we delve into the primary pros and cons of this card.
Pros:
- No annual fee: This card does not charge an annual fee, making it cost-effective for cardholders.
- Unlimited 2% cashback: Users receive 2% cashback on all purchases, making it a dependable rewards card.
- Potentially lower than average purchase APRs: Cardholders may benefit from lower interest rates on purchases, depending on their creditworthiness.
- Identity Theft Protection: This card includes identity theft protection features to keep users’ information secure.
- No foreign transaction fees: Cardholders are not required to pay fees on international purchases, making it suitable for frequent travelers.
Cons:
- Good to excellent credit required: As per the recommendation, potential cardholders need to possess a good to excellent credit score in order to be approved for this card.
- Limited bonus categories: Unlike some other cashback cards, the Bread Cashback American Express Credit Card only offers a flat 2% cashback rate, which may not be the best choice for users looking to maximize rewards in specific spending categories.
Application Process
Applying for the Bread Cashback American Express Credit Card is a straightforward process that typically begins online. To get started, you’ll need to provide some personal and financial information, including your full name, address, Social Security number, income, and employment details.
As the card is aimed at individuals with good to excellent credit, a credit score in that range will increase the likelihood of being approved. According to USA Today, a recommended credit score for this card is between ‘good’ and ‘excellent.’
Once you submit your application, you can expect a response within a few minutes, as most credit card issuers use an automated system to evaluate applications. In some cases, however, you may need to wait for a manual review, which might take a few days to complete.
If your application is approved, you’ll receive your new Bread Cashback American Express Credit Card in the mail, along with information on your credit limit and any welcome bonus you may qualify for. As stated by Forbes, the card offers a $200 cash rewards welcome bonus for eligible new cardholders.
Alternatives and Comparison
The Bread Cashback American Express Credit Card offers unlimited 2% cash back on all purchases and has no annual fee. However, there are other cash-back credit cards available for comparison:
- Citi Double Cash Card: This card offers 2% cash back as well (1% when you buy and 1% when you pay your bill). It also has no annual fee, making it a strong competitor to the Bread Cashback American Express.
- Chase Freedom Unlimited: This card provides 1.5% cash back on all purchases and has no annual fee. Additionally, it offers a $200 bonus after spending $500 in the first three months from account opening.
- Capital One Quicksilver Cash Rewards: Similar to the Chase Freedom Unlimited, this card offers 1.5% cash back on every purchase with no annual fee. It also has a welcome bonus of $200 after spending $500 on purchases within the first three months.
When comparing the Bread Cashback American Express with these alternatives, it’s important to consider the variable purchase APR of the Bread card, which ranges from 15.49% up to 26.99%. The other cards mentioned may have different APRs, so it’s essential to examine those details when choosing a cash-back credit card.
As the Bread Cashback American Express offers a flat cash-back rate with no annual fee, it may be well-suited for cardholders seeking simplicity in their rewards program. However, individuals looking for welcome bonuses or a combination of cash back and points might find the other mentioned alternatives more appealing.
Conclusion
The Bread Cashback American Express Credit Card offers a straightforward rewards structure with a flat cash-back rate of 2% per dollar spent on the card. With a $0 annual fee, this card may appeal to those who prefer simplicity and want to avoid dealing with cash-back tiers or rotating categories.
Although the 2% cash back on all purchases is a good feature, there are other cards on the market that offer similar rewards structures and additional benefits. The Bread Cashback American Express Credit Card has an APR that varies between 19.74%, 27.24%, and 29.99% depending on your credit score, which may be a consideration for some cardholders.
For individuals seeking a no-frills cash-back card without the hassle of multiple reward categories, the Bread Cashback American Express Credit Card can serve as a decent option. However, those who desire more comprehensive and diverse benefits may want to explore other cash-back credit card options available.