American Express Blue Cash Preferred Downgrade to What Card Is Right for You

If you're considering downgrading from the American Express Blue Cash Preferred card, it's essential to explore alternative options that suit your spending habits and financial goals.

The Blue Cash Preferred offers a 6% cash back on groceries, but if you're not utilizing this benefit, a card like the Citi Double Cash Card, which offers 2% cash back on all purchases, might be a better fit.

Another consideration is the Citi Premier Card, which offers 3% cash back on dining, including takeout and delivery, and 2% cash back on gas stations.

The Blue Cash Preferred also has a $250 statement credit for gas purchases, so if you're not using this benefit, a card like the Chase Sapphire Preferred, which offers 2X points on travel and dining, might be more suitable.

For another approach, see: Custom Cash Card Categories

The Blue Cash Preferred card offers some amazing rewards and benefits, especially for families or individuals who spend a lot on everyday expenses like groceries, gas, and streaming services. You can earn 6% cash back on US streaming subscriptions, 3% cash back on gas and transit, and 1% cash back on every other purchase.

Here's a breakdown of the rewards and benefits you can expect:

You'll also get access to exclusive events, discounts, and credits like the Disney Bundle credit, which can pay for all but $11 of the $95 annual fee.

The Blue Cash Preferred card's rewards program is a standout feature that can help you save money on everyday expenses. The card offers a tiered cash back rewards program with high cash back on popular spending categories.

You can earn 6% cash back at U.S. supermarkets, which is a great benefit for families who spend a lot on groceries. This rate is available on up to $6,000 in purchases per year, after which you'll earn 1% cash back.

The card also offers 6% cash back on select U.S. streaming subscriptions, including popular services like Netflix and Disney+. This is a great benefit for households that subscribe to multiple streaming services.

In addition to the high cash back rates on these categories, you'll also earn 3% cash back at U.S. gas stations and on transit, such as trains, taxicabs, and buses. This is a great benefit for people who commute to work or school every day.

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Here's a summary of the cash back rates on the Blue Cash Preferred card:

Overall, the Blue Cash Preferred card's rewards program is a great way to earn cash back on your everyday expenses and save money over time.

The Blue Cash Preferred card offers some of the best perks and benefits of any cash back card, including an extended warranty on purchases and a Disney Bundle credit. This credit can pay for all but $11 of the $95 annual fee if you already have the Disney Bundle.

You can earn a $7 monthly statement credit when you spend $9.99 or more on the Disney Bundle, which is a great deal if you're a fan of Disney. The Blue Cash Preferred card also offers access to Amex events, including presales and exclusive experiences at sports, music, and theater events.

Amex offers provide various discounts and rewards at partner brands, but the value depends on your spending habits and available offers. These offers can be a great way to earn extra rewards or statement credits on your purchases.

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If you have a credit card with an annual fee, it's essential to verify what the benefits are to decide whether it's worth keeping. You can usually find this information on the card company's website or by calling them directly.

To determine whether the benefits outweigh the cost, consider the value of the benefits compared to the annual fee. For example, if you have a hotel credit card with a $99 annual fee, but you get a free night stay every year, that might be worth more than $99 to you.

Some credit card companies offer lower-tiered cards with similar features but without an annual fee. You can contact the credit card company to ask about downgrading to a lower-tiered card, which can save you money while still allowing you to earn rewards.

Here are some benefits of the Blue Cash Preferred card:

The Blue Cash Preferred card is a great fit for families or individuals who spend regularly on everyday expenses like groceries, gas, and streaming services. You can earn 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations, and 1% cash back on other purchases.

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The Blue Cash Preferred card from American Express is a great option for families who frequently spend on groceries, streaming services, and gas, but it might not be the best fit if your spending in the bonus categories is low or you're averse to paying an annual fee.

The card's 6% cash back at supermarkets is a strong selling point, but you'll need to consider the $95 annual fee, which might be a drawback for some users.

The Blue Cash Preferred card has a few drawbacks compared to other cash back cards, including its annual fee, lack of travel rewards, and grocery spending cap.

If you're looking for a card with no annual fee, you might want to consider other options, such as the Blue Cash Everyday card, which has a more affordable fee structure.

Here's a comparison of the Blue Cash Preferred card with other cash back cards:

The Blue Cash Preferred card's effective reward rate is 50% of its overall score, making it a key feature to consider when evaluating the card's value.

Ultimately, the best card for you will depend on your individual spending habits and financial situation, so it's essential to weigh the pros and cons of each option carefully.

The Blue Cash Preferred Card from American Express has an annual fee of $0 intro annual fee for the first year, then $95.

The card offers a $250 statement credit after spending $3,000 in the first six months, and a 0% intro APR on purchases and balance transfers for 12 months, then a variable APR of 18.24% to 29.24% after that.

The regular APR is 18.24% to 29.24% variable, and the penalty APR is 29.99% variable. Balance transfer fees are either $5 or 3% of the amount of each transfer, whichever is greater.

Late fees can be up to $40, and foreign transaction fees are 2.7% of each transaction after conversion to U.S. dollars.

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