Balance Transfer American Express Blue Cash Card Review and Guide

The American Express Blue Cash Card is a popular choice for balance transfers due to its 0% introductory APR on purchases and balance transfers for 15 months. This can save you money on interest charges.

With a balance transfer fee of $5 or 3% of the transferred amount, whichever is greater, it's essential to consider the cost of transferring your balance. This fee can add up quickly if you're transferring a large amount.

The card offers a cash back rewards program, but it's not the primary focus of this review. We'll be focusing on the balance transfer benefits and fees associated with the American Express Blue Cash Card.

The Blue Cash Everyday Card from American Express has no annual fee, which is a great perk. This means you won't have to pay an extra fee just for having the card.

The card features a 0% introductory period for purchases, which can be really helpful if you need to carry over a large balance each billing cycle without accruing interest.

The Blue Cash Preferred card offers a strong rewards program, with earning rates that can help you save serious cash. You can earn 6% cash back at U.S. supermarkets, which is the highest rate on the market for this category. With a $6,000 annual spending cap, you can earn up to $360 in cash back per year.

The card also offers 3% cash back on gas and transit, making it a great option for heavy commuters or road warriors. For example, a New York City commuter who spends $127 every month on an unlimited MetroCard would earn $45.72 in cash back over the course of a year. Additionally, you can earn cash back on top of your regular earnings through Amex Offers.

You can redeem your rewards in various ways, including statement credits, gift cards, and online shopping. However, redeeming for statement credits is the most rewarding method, guaranteeing $1 per 1 Reward Dollar. You can also use your rewards to purchase gift cards, but be aware that this method may not always offer $1 per 1 Reward Dollar.

The Blue Cash Preferred card has some amazing benefits that make it a top choice for many cardholders. The card offers a generous 6% cash back rate at U.S. supermarkets, which can add up to $360 in cash back per year if you spend $6,000 on groceries annually.

This card also offers a 3% cash back rate on gas and transit, which can be a significant saving for heavy commuters or road warriors. For example, a New York City commuter who spends $127 every month on an unlimited MetroCard would earn $45.72 in cash back over the course of a year.

As a Blue Cash Preferred card holder, you'll also get access to Amex Offers, which can give you even more cash back on top of your regular earnings. You could be targeted for bonus cash back offers on gas, groceries, or other categories, depending on your spending habits.

One of the unique benefits of this card is the annual credit of up to $84 towards a Disney Bundle subscription, which includes Hulu, Disney+, and ESPN+ with ads. This can save you $5.99 per month, plus tax, if applicable, on your Disney Bundle subscription.

You'll also get a credit of up to $120 towards Equinox+, which gives you unlimited access to on-demand fitness classes via the mobile app. This can save you $10 per month, plus tax, if applicable, on your Equinox+ subscription.

The Blue Cash Preferred card also includes purchase protection benefits, such as coverage against damage and theft for the first 90 days after purchase, up to $1,000 per covered purchase and $50,000 per year.

Redeeming Reward Dollars is a straightforward process with the Blue Cash Preferred card. You can redeem your Reward Dollars in three ways: statement credits, gift cards, and merchandise.

To redeem Reward Dollars, log in to your American Express account and navigate to "Use Reward Dollars." Reward Dollars are worth $1 each, no matter what you redeem them for.

If you're looking to get the most value out of your Reward Dollars, redeeming for statement credits is the way to go. This option offers a higher rate of return than purchasing gift cards outright with Reward Dollars on American Express' website.

You can redeem Reward Dollars in increments of $25, unless otherwise noted. Redeeming for statement credits is the most rewarding method, guaranteed to be worth $1 per 1 Reward Dollar.

Here are the ways you can redeem your Reward Dollars:

One thing to keep in mind is that Reward Dollars never expire as long as your account is open and in good standing with American Express.

The Blue Cash Preferred card offers some fantastic introductory deals that can help you save money and manage your finances.

You can take advantage of $0 intro Plan It fees for the first 12 months after opening your account.

During this period, you'll also enjoy an introductory APR of 0% on purchases and balance transfers for 12 months. This can be a huge help if you have outstanding balances or want to make big purchases without paying interest.

After the introductory period, you'll pay a Variable APR of 18.24% - 29.24%, so be sure to pay off your balance before the 12 months are up.

Keep in mind that there's a balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater.

If you're considering the Blue Cash Everyday Card from American Express but want to explore other options, there are several alternatives to look into. The Blue Cash Preferred Card from American Express is another option that offers extra cash back in select spending categories.

The Chase Freedom Flex℠ and Bank of America Customized Cash Rewards Card are also worth considering, as they offer similar benefits to the Blue Cash Everyday Card.

The Blue Cash Preferred card is compared to the Citi Double Cash Card, which is used as a benchmark to evaluate other credit cards. The Citi Double Cash Card has no annual fee and offers a simple way to earn a rebate on all daily spending.

The Blue Cash Preferred card, on the other hand, is designed for those who want to earn extra cash back in specific categories like groceries, streaming, transit, and gas. The Citi Double Cash Card is better suited for consumers who want a straightforward credit card to earn cash back on all their spending.

The Blue Cash Preferred card has some features that are better than the Citi Double Cash Card, such as earning cash back in select categories, but it also has some features that are worse, like having a higher annual fee. The Citi Double Cash Card has a lower annual fee and offers cash back on all purchases, not just select categories.

The Blue Cash Preferred card is a good choice for those who want to earn cash back in specific categories, but it's essential to consider your needs before deciding on the right credit card for you.

The Blue Cash Everyday and Preferred cards from American Express have distinct differences in fees. The Blue Cash Preferred has an annual fee of $95 after the first year, while the Everyday version has no annual fee.

The Preferred card offers higher rewards than the Everyday card. You'll earn 6% cash back at U.S. supermarkets and on streaming services, 3% at U.S. gas stations and on transit, and 1% on everything else.

The Preferred card also comes with additional protections that aren't available on the Everyday card. These include rental car insurance, purchase protection, and return protection, which require enrollment for some benefits.

If you're looking for alternatives to the Blue Cash Everyday Card from American Express, there are several options to consider.

The Blue Cash Preferred Card from American Express is a popular choice, offering a higher cash back rate on certain purchases.

The Chase Freedom Flex℠ card is another option, with a flexible rewards program and no annual fee.

For those who bank with Bank of America, the Bank of America Customized Cash Rewards Card is a good alternative, offering a cash back program tailored to your spending habits.

If you're already familiar with the Blue Cash Everyday Card from American Express, you might consider sticking with it, as it's a well-established and reliable option.

Here are some specific alternatives to consider:

To qualify for the Blue Cash Everyday, you'll need good credit, which means your FICO credit score should be between 670-739 or your VantageScore should be between 700-749.

Your credit score is just one factor, though - the issuer will also consider your income and monthly mortgage or rent payments.

Even with good credit, you could still be denied, so it's essential to review your credit report and work on improving your credit score if necessary.

The cash back rewards on this card have some limitations. You'll earn 3% cash back at U.S. supermarkets, but only up to $6,000 in purchases per year, which translates to $180 in cash back rewards.

After reaching the $6,000 limit, your cash back rate drops to 1%. This means you'll earn less on your subsequent purchases.

To earn the $200 bonus cash back, you need to spend $2,000 within six months of opening a new account. If you don't meet this requirement, you'll forfeit the bonus.

To qualify for the Blue Cash Everyday, you'll need good credit, which means your FICO score should be between 670-739 or your VantageScore should be between 700-749.

The credit card issuer will consider more than just your credit score, though - they'll also look at your income and monthly mortgage or rent payments.

Even if your credit score is higher than recommended, you could still be denied for the credit card.

But if your credit score is within the recommended range, you still might get approved if your income and other factors are strong enough.