Amex Blue Cash Preferred Card With First Year’s Annual Fee Waived

Update: This offer for the Blue Cash Preferred® Card from American Express is expired. Learn more about the current offer here.

The Blue Cash Preferred® Card from American Express is one of American Express’ most compelling cash back cards, and for a limited time it has a special offer. As usual, the card is offering a sign-up bonus of $150 back after spending $1,000 on purchases within the first three months of card membership. However, at the moment the card has its $95 annual fee waived for the first year as a special offer.

Amex Blue Cash Preferred return on spend

Personally I usually prefer to earn points rather than cash back through my credit card spend, though as far as cash back cards go, this one has some fantastic bonus categories. The Blue Cash Preferred Card offers:

  • 6% cash back at US stand-alone supermarkets (up to $6,000 per year), then 1%
  • 3% cash back at US stand-alone gas stations and at select major department stores
  • 1% cash back on other purchases

Personally this isn’t a card I’d use for non-bonused spend, as you’re better off putting that spend on something like the Citi® Double Cash Card, which has no annual fee and offers unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. However, for supermarket and gas station spend, earning 6% and 3% back, respectively, is a huge return.

Options to earn Membership Rewards points instead

I should mention that if you prefer to earn points, American Express has cards with similar bonus categories that earn Membership Rewards points. Those two cards are the Amex EveryDay® Credit Card and Amex EveryDay® Preferred Credit Card.

The no annual fee Amex EveryDay® Credit Card offers:

  • 2x points at US stand-alone supermarkets (up to $6,000 per year), then 1x points
  • 1x points on other purchases
  • A 20% points bonus when you use your card at least 20 times in a billing period

In other words, you’re earning 2.4x points at supermarkets and 1.2x points on other purchases, assuming you have 20 transactions per billing period. That’s pretty awesome for a no annual fee card.

Meanwhile the $95 annual fee Amex EveryDay® Preferred Credit Card offers:

  • 3x points at US stand-alone supermarkets (up to $6,000 per year), then 1x points
  • 2x points at US stand-alone gas stations
  • 1x points on other purchases
  • A 50% points bonus when you use your card at least 30 times in a billing period

That means you’ll be earning up to 4.5x points at supermarkets, up to 3x points at gas stations, and up to 1.5x points on everyday spend. That’s a huge return.

Bottom line

The Blue Cash Preferred Card has its $95 annual fee waived for the first year for a limited time, in addition to the standard sign-up bonus. If you’ve been eying this card, I’d certainly consider applying under this offer. Occasionally we see other limited time sign-up bonuses, though it has been a while since we’ve seen one better than this.

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