Difference between revisions of "Blue cash credit cards"
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| − | For almost everyone interested in | + | For almost everyone interested in the extra bonus categories rewards from one of the Blue Cash cards, the extra rewards from the Preferred version are likely to justify its $95 annual fee. For example, if you spend $4,000 on groceries each year, you'll earn an extra $120 per year with the Preferred version. If you don't spend very much, it probably isn't worthwhile to get either version of this card. |
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| − | + | The Blue Cash Everyday Card only earns 3% on groceries, 2% on gas, and doesn't earn bonus rewards on streaming subscriptions. It does earn 2% at department stores, but you should already be earning this amount or more from your general-purpose reward card. [//card.americanexpress.com/d/blue-cash-everyday-credit-card-compare/ Official Webpage]. [//www.uscreditcardguide.com/blue-cash-everyday-credit-card/#Historical_Offers_Chart Signup Bonus Chart]. | |
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=== Collecting the Signup Bonus === | === Collecting the Signup Bonus === | ||
Revision as of 23:04, 3 October 2020
$95
$300 ($1,000 initial spend) with a referral link.
Public offer is currently $250.200 dollars
$1,000 initial spend
($90 net value, .09/$)
Signup Bonus Chart6% US Supermarkets
6% Streaming Services
3% Transit
3% US Gas Stations
3% Select US Department Stores (Until August)
1% Everywhere Else
2.7% Foreign Transaction Fee
The Blue Cash Preferred Card earns fantastic rewards on Grocery spending (6% cash back). The only card that earns more is the Amex EveryDay Preferred Card (4.5x Membership Reward points), but only if you make 30 transactions every month and are comfortable redeeming Membership Rewards points for frequent flyer tickets. If you don't already have a card that earns good rewards at grocery stores, it can be worth getting the Blue Cash Preferred just to earn extra rewards on your grocery store purchases.
Jump to
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Amex Blue Cash Card Options
There are two Blue Cash cards. In addition, American Express offers two Business Blue card—the Blue Business Plus Card and the Blue Business Cash Card—that are different enough that they are covered in their own guides.
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For almost everyone interested in the extra bonus categories rewards from one of the Blue Cash cards, the extra rewards from the Preferred version are likely to justify its $95 annual fee. For example, if you spend $4,000 on groceries each year, you'll earn an extra $120 per year with the Preferred version. If you don't spend very much, it probably isn't worthwhile to get either version of this card. | |
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The Blue Cash Everyday Card only earns 3% on groceries, 2% on gas, and doesn't earn bonus rewards on streaming subscriptions. It does earn 2% at department stores, but you should already be earning this amount or more from your general-purpose reward card. Official Webpage. Signup Bonus Chart. |
Collecting the Signup Bonus
- This card is primarily interesting for its bonus rewards, not for its signup bonus. After subtracting the opportunity cost of using the card for $cash of spending, the calculated net value for the initial year is $200 (Expression error: Unrecognized word "cash". cents per dollar spent). It isn't very much, but it is better than nothing..
- You can only earn the signup bonus once per lifetime. With Amex cards, you are normally not entitled to earn the signup bonus, if you've ever had the card before. However, you may eventually receive a targeted offer that bypasses this limitation, allowing you to earn the bonus an additional time.
- However, you can earn the bonus from both versions of the card. The no-annual-fee Blue Cash Everyday card only has a $150 signup bonus. But, if you start running out of other Amex cards to take advantage of, you might want to eventually collect that bonus as well.
- You may want to wait until you receive a better than normal offer. Since Amex will normally only let you receive the signup bonus once per lifetime, and frequently offers promotional signup offers, it can be worthwhile to postpone signing up, so you don't waste your bonus on a less valuable offer.
After subtracting the annual fee, and the opportunity cost of using the card for $1,000 of spending, the calculated net value of the sign-up is $90 (9 cents per dollar spent).
Other Notable Benefits
- Access to Amex Offers. Amex continuously provides discount offers to their cardholders. Most of the offers are in the form of "Spend $x, get $y back", but other offers are in the form of "x% off your entire order" or "Earn an extra Membership Reward point on your purchases". To take advantage of the offers, you need to go to the Amex website, find the ones you are interested in, and "add them" to your card. Each offer will then be automatically applied when you use your card to make the corresponding purchase. Amex Offers Website.
- Free ShopRunner membership. As with all Amex cards, you are entitled to a complimentary ShopRunner membership, which provides free two-day and return shipping from around 150 of the largest online retailers. ShopRunner Website
- Exclusive access to entertainment events. Amex sponsors cardmember-only events around the country and also provides early ticket access for some other shows.
Bonus Categories
- The Blue Cash Preferred card offers one of the most valuable reward rates on Grocery purchases. You'll earn 6% on grocery spending. The only card that earns more is the Amex EveryDay Preferred card, and only if you make at least 30 transactions per month, and are able to get good value from using your points for frequent flyer tickets. Best Credit Cards for Grocery Spending.
- The Blue Cash Preferred earns bonus reward rates on two less common categories: streaming services (6%) and transit (3%). The travel category for many credit cards includes transit. If you have one of these cards, it will likely be a better option. But the 6% reward rate for streaming services is better than you can get from any "personal" card. A few business card's bonus reward rate for telecommunication services include most streaming services as well.
- Until August, it is also one of the only cards that earns bonus rewards when you shop at department stores. The bonus reward rate for department stores is only 3%, but that is better than you can get from most general-purpose reward cards. The only better options are some cards where department stores are one of a set of categories you can choose, for department stores that accept mobile wallet payments, and for online purchases. Unfortunately, this bonus reward rate is being discountinued on July 31st. Best Credit Cards for Retail Purchases.
- There are better options for your gas purchases. The rewards from this card are more valuable than what you would get from a good general-purpose reward card, but not as good as what you could get from a card that offers good bonus rewards for this category. While there are a few other cards that earn higher rewards on gas purchases, it doesn't usually make sense to take up an extra credit card slot, just to earn some extra rewards on gas. Best Credit Cards for Gas Spending.
- The reward rates on the no-annual-fee Blue Cash Everyday card aren't that interesting. It does earn 3% on groceries, but that is lower than most of the other options. Most people can earn enough extra rewards from the Preferred version to offset its annual fee.
- You don't want to use these cards for your everyday spending. You'll earn higher rewards from a good general-purpose reward card. Get a Great General Purpose Reward Card and Use It for All of Your Spending.
Getting Rid of the Card
Make sure to cash out your Blue Cash reward balance before you cancel the card.
While you are unlikely to want to the no-annual-fee version of the card, you can convert to that version, rather than cancelling your Blue Preferred card. If you missed your account anniversary, downgrading can make sense. You'll receive a prorated rebate on your annual fee (which you won't get if you simply cancel the card).