Don’t you love getting rewards for shopping? Well, now you can get lucrative rewards and cashback on daily purchases with the Blue Cash Preferred Card!
Not just that, cardholders can get a massive introductory bonus in addition to return protection and up to 6% cashback when shopping with the card. Frequent travelers too can enjoy a surfeit of travel perks.
With a simple online application, you can enjoy all of these benefits and more. In this article, you can read about the American Express Blue Cash Preferred Card and learn how you can apply. Read on to learn more.
Features of the Blue Cash Preferred Card
The Blue Cash Preferred Card is known for its generous bouquet of bonuses, rewards, and cashbacks. You can get a whopping 6% return on supermarket purchases of up to $6,000 per year, and there is also 1% to 6% cashbacks on streaming subscriptions, gas stations, transit, etc.
Moreover, the card comes with an online account management service, a 24/7 global assist hotline, and a low international transaction fee. Shoppers would love to take advantage of perks, like free shipping, two-day shipping, and extended warranty when shopping through ShopRunner.
Regular travelers can book accommodations through amextravel.com at the lowest rates. They can also get secondary car rental insurance when you book your rental car with the American Express Blue Cash Preferred card.
Pros and Cons of the Blue Cash Preferred Card
What’s more exciting is that, for the first year, you can enjoy a 0% APR on purchases and a waived annual fee. You can also get a $300 introductory bonus if you spend $3,000 within the first 6 months.
Even though a lot of the charges are waived for the first year, a $95 annual fee makes maintenance of this card quite difficult for later years. Moderate spenders might find it difficult to offset the imposed annual fee through rewards and cash backs.
To be eligible for the Blue Cash Preferred Card, you must be at least 18 years old. The credit card is only applicable for U.S. residents so you are required to provide your Social Security Number and U.S. Mailing Address.
Additionally, an applicant’s eligibility will depend on how well they meet the bank’s lending criteria. American Express will require your income and employment details and also check that you are not currently bankrupt.
How to Apply for the Blue Cash Preferred Card
If you meet the eligibility criteria, you can complete an online form to apply for this American Express card. The application form is divided into three sections where you can provide some basic information, review, and submit.
In the final step, you will receive a quick decision regarding your approval status. If your application gets approved, you will receive the card within five days. Based on your ability to authenticate yourself, you may also get access to an Instant Card Number which you can use virtually anywhere.
Interest Rates and Fees
Before you apply for this credit card, it is essential to be aware of all the associated charges. Below is a list of rates and fees that come with the American Express Credit Card.
- APR for purchases: 0% introductory APR for the first 12 months from the date of account opening; after that, your APR will be 13.99% to 23.99%
- APR for cash advances: 25.24%
- Penalty APR: 29.24%
- Plan Fee (Fixed Finance Charge): 0% introductory plan fee on each purchase moved into a plan during the first 12 months after account opening; after that, your plan fee will be up to 1.33%
- Annual fee: $0 for the first year, then $95
- Cash advance fee: either $10 or 5% of the amount of each cash advance, whichever is greater
- Foreign transaction fee: 2.7% of each transaction after conversion to U.S. dollars
- Late payment: up to $40
- Returned payment: up to $40
You can find out more about the Blue Cash Preferred Credit Card by contacting the bank directly. You can reach American Express by calling 1 (800) 528-4800. Their head address is 200 Vesey Street, New York, NY 10285-3106.
In conclusion, the Blue Cash Preferred card is a great card for big spenders. However, with its high eligibility criteria, the card is not easily accessible to everyone.
Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult the bank’s terms and conditions page before agreeing to anything.