Blue Cash Preferred from American Express 2022 review

The Blue Cash Preferred is incredibly rewarding. While it does have an annual fee, it's waived the first year and with the rewards you'll earn from purchases at US supermarkets (excluding Walmart, Costco, and Target) you likely will forget about the fee, which is something I can personally attest to.

For example, just by spending as little as $1,600 on groceries annually cardholders will earn $96 back, which is enough to cover the fee. That works out to only about $133 in grocery spending each month, which is less than what most families spend in a single week. Cardholders also will earn much more than that after considering the card's other bonus categories.

And take note, consumers can earn that strong 6% cash back rate at other retailers by using the Blue Cash Preferred to purchase gift cards at the grocery store.

In addition to the strong grocery and gas rewards, cardholders can earn something back for all of their binge-watching needs. Most streaming services are covered, including Netflix, Spotify, HBO Max, and Hulu. Even lesser-known services like Peacock and Stitcher are covered.

Pros

• 6% cash back for US supermarkets and select US streaming services
• 3% cash back for gas
• Annual fee is waived the first year
• 0% intro APR offer for new purchases for 12 months (then 14.74% to 24.74% variable)

Cons

• Annual fee
• $6,000 annual spending limit on groceries
• $25 minimum redemption