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9 lesser-known benefits of the Amex Blue Cash Preferred Card

Sept. 17, 2020
11 min read
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Cash back rewards have become increasingly popular with consumers looking to save cash during the coronavirus pandemic. And, if you’re looking for one of the best cards for groceries that earns cash back rewards, you likely noticed the Blue Cash Preferred® Card from American Express.

After all, the Blue Cash Preferred earns 6% cash back on up to $6,000 per year in groceries from U.S. supermarkets. So, if you max out this 6% cash back category, you’ll earn at least $360 in cash back each year. But, there’s a lot more to this card than cash back at U.S. supermarkets.

So, in this guide, I’ll discuss nine of the lesser-known perks of the Blue Cash Preferred.

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Bonus cash back on streaming, gas and transit

Get bonus cash back on select U.S. streaming services. (Photo by Phil Barker/Future Publishing/Getty Images)

It’s easy to focus on the 6% cash back that the Blue Cash Preferred earns on up to $6,000 per calendar year spent on groceries at U.S. supermarkets (then 1%). But, in doing so, many cardholders forget that the card has other cash back bonus earning categories. Specifically, you’ll also earn:

  • 6% cash back on select U.S. streaming subscriptions (see the current list here)
  • 3% cash back on transit including taxis, rideshare, parking, tolls, trains, buses, and more
  • 3% cash back on gas at U.S. gas stations
  • 1% cash back on all other purchases
  • Cash back is received in the form of Reward Dollars that can be redeemed for statement credits.

The Blue Cash Preferred has a $95 annual fee (see rates and fees). But, you can earn $95 of cash back after spending $1,584 on 6% categories or $3,167 on 3% categories. Of course, most cardholders will earn cash back in a mix of 6% and 3% categories. But, this calculation should help you decide if the Blue Cash Preferred is right for you.

Related: Why the Amex Blue Cash Preferred comes out on top during the pandemic

Amex Offers

Amex Offers is an undervalued perk offered on U.S. consumer and small business American Express cards issued by a U.S. banking subsidiary of American Express. So, as a Blue Cash Preferred cardholder, you’ll have access to Amex Offers.

The details and quality of Amex Offers vary. But, you can expect to see offers from your favorite dining, shopping and travel brands. And, even during the coronavirus pandemic, you’ll see Amex Offers that will help you save money and make life easier. Eligibility for Amex offers is limited. Enrollment is required in the Amex Offers section of your account before redeeming.

Related: The secret to getting more (and sometimes better) Amex Offers on your card

Car rental loss and damage insurance

When you pay for a rental car with your card, you may be covered against damage and theft. (Photo by Luke Sharrett/Bloomberg/Getty Images)

The insurance and protections that come with credit cards can seem unnecessary until you need them. One often-overlooked protection is rental car coverage. Luckily, several credit cards offer rental car coverage, including the Blue Cash Preferred.

You can be covered when you use your Blue Cash Preferred to reserve and pay for a rental car. Specifically, if the rental vehicle is damaged or stolen, your card may provide coverage up to $50,000. However, you must decline the collision damage waiver at the rental company counter.

This card only includes coverage for up to 30 consecutive days per rental agreement. And, there are some exclusions regarding coverage area, vehicle types, rental companies and payment method. In particular, if you use a non-American Express loyalty program’s points to rent a car, you won’t be covered. So, read the guide to benefits before assuming you’ll be covered.

Finally, some cards offer primary coverage when you pay for a rental car using your card. But, the Blue Cash Preferred provides secondary coverage. And, secondary coverage means you must file with any other insurance you have first.

But, if you want primary coverage when renting vehicles with your Blue Cash Preferred, you can enroll in American Express’ Premium Car Rental protection program. After registering, you’ll pay a modest amount per rental in exchange for primary coverage.

Related: 52 rental car promotions that will save you money this fall

Purchase protection for recent purchases

Credit card purchase protection recently saved one TPG reader $1,700. And, purchase protection can save the day if your Apple watch breaks. But, you can only benefit from purchase protection if the following occur:

The Blue Cash Preferred offers purchase protection for purchases made within the last 90 days. So, if a recent purchase is stolen or accidentally damaged, you may be covered for up to $1,000 per purchase. The card provides coverage for up to $50,000 per calendar year, but only $500 per natural disaster event. And, some types of purchases aren’t covered. So, check the guide to benefits before assuming an item is covered.

Related: Credit card showdown: Amex Blue Cash Preferred vs. Amex Blue Cash Everyday

Extended warranty protection

If your phone malfunctions, you may be able to get repairs reimbursed by your card's extended warranty protection. (Photo by Oscar Wong/Getty Images)

Some credit cards also offer extended warranty protection. TPG readers and staff have used this protection to extend the warranty period on a broken tablet, bricked cell phone and malfunctioning cell phone. Whenever I purchase electronics or other items with a manufacturer’s warranty, I use a card that offers extended warranty protection.

Fortunately, the Blue Cash Preferred offers extended warranty protection when you use your card. Specifically, this protection can extend the original manufacturer’s warranty for up to one year. And, this protection may cover up to $10,000 per item and up to $50,000 per calendar year. But, only warranties of five years or less will be covered. And, you must make the original purchase in the U.S. or its territories. You can see the full details in the card’s guide to benefits.

Related: Credit card showdown: Amex EveryDay Preferred vs. Amex Blue Cash Preferred

Return protection

The Blue Cash Preferred offers one additional type of Amex shopping protection: return protection. Specifically, this protection can help when you try to return an item you purchased within the last 90 days and the merchant won’t take it back. In this case, American Express may refund up to $300 per item and up to $1,000 per calendar year. But, as with all credit card perks, check out the guide to benefits for full details.

Related: Is it better to earn bonus points or cash back during the pandemic?

Entertainment Access

You might be able to buy presale tickets to a concert. (Photo by Johnny Louis/Getty Images)

You can unlock VIP event access with the Blue Cash Preferred through Amex’s Entertainment Access program. This program provides exclusive access to ticket presales for select events. And, Amex cardholders may get access to added perks at select events and venues. For example, being a cardholder can unlock dedicated entrances, concession offers or exclusive meet and greets. Finally, the program may also provide access to card member-only events.

The only catch is a minor one: you must pay with your American Express card. So, you might earn more on your purchase if you used one of the best cards for entertainment spending. But unlocking presale access and member-only events may be well worth it.

Related: Maximize your family’s wallet with 6% back on the Amex Blue Cash Preferred

Global Assist hotline

When travel issues occur, it can be challenging to know who to call. But, as a Blue Cash Preferred cardholder, you’ll have access to Amex’s Global Assist hotline on most trips that take you more than 100 miles from home.

The Global Assist hotline can provide medical, legal and financial coordination and assistance services at no charge. For example, the hotline can help with medical referrals, legal referrals, cash wires, passport replacement, missing luggage and more. Plus, the hotline can help with trip planning, such as customs information and vaccination information. But, you’ll be responsible for any costs charged by third-party service providers.

Related: 3 crucial mistakes to avoid if you have a medical emergency abroad

Plan It® option pay for large purchases over time

You can log in to your Amex account on your laptop and use the Plan It feature to group large purchases into plans to pay off over time. (Photo by Alexander Spatari/Getty Images)

It’s best to pay your credit card balance in full each month. But, if money is tight, you may want to use the Blue Cash Preferred’s Plan It feature (no enrollment required).

The Plan It® feature allows you to pay for large purchases over time in exchange for a fixed monthly fee. You can group up to 10 qualifying charges of $100 or more into a plan. But, you’ll need to log in to your American Express online account to do so. If you use the mobile app instead, you can only add one charge to a plan instead of up to 10.

And, you can have up to 10 active plans on your account at any given time. But the monthly fee and whether you are eligible to create a new plan depends on many factors, including your creditworthiness and credit limit. To see your options, log in to your online account and click on Plan It next to an eligible charge.

Related: Financing without interest: My Chase Plan vs Amex Pay It Plan It

Bottom line

Sure, many consumers get the Blue Cash Preferred is for its cash-back earning at U.S. supermarkets. But, as I showed in this guide, several other lesser-known perks can provide significant value. From shopping protections to Amex Offers, there’s a lot of potential value to be found.

To learn more, check out the full review of the Blue Cash Preferred Card.

For rates and fees of the Blue Cash Preferred, please click here.

Featured image by THE POINTS GUY
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

TPG featured card

Best for U.S. streaming rewards
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards

1 - 6% cash-back
6%6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
6%6% Cash Back on select U.S. streaming subscriptions
3%3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more
3%3% Cash Back at U.S. gas stations
1%1% Cash Back on other purchases

Intro offer

$350
Earn a $350 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.

Annual Fee

$95

Recommended Credit

670-850
Excellent, Good
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Why We Chose It

If you like cash back and spend a lot on groceries at U.S. supermarkets, you can’t get much better than the Blue Cash Preferred® Card from American Express. This card offers 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). Check out our latest guides, news, and reviews for this card below.

Pros

  • This card has one of the best earning structures out there for cash-back credit cards.
  • The card does come with access to Amex Offers (enrollment required), which can save you even more money on specific purchases.

Cons

  • There is a $6,000 spending cap on the U.S. supermarket bonus category, which may not work for those with large grocery budgets.
  • You’ll have to pay a foreign transaction fee on international purchases, so it’s not a great choice when you’re traveling abroad.
  • Earn a $350 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
  • Balance Transfer is back! Enjoy 0% intro APR on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 16.99%-27.99%.
  • Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 Plan It fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a fixed monthly plan fee up to 1.33% of each purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
  • 6% Cash Back on select U.S. streaming subscriptions.
  • 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
  • 1% Cash Back on other purchases.
  • Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
  • Thinking about getting The Disney Bundle which includes Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $13.99 or more each month on an eligible subscription with your Blue Cash Preferred Card. Enrollment required.
  • $95 Annual Fee.
  • Terms Apply.
  • See Rates & Fees
Apply for Blue Cash Preferred® Card from American Express
at American Express's secure site
Terms & restrictions apply. See rates & fees
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards Rate

6%6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
6%6% Cash Back on select U.S. streaming subscriptions
3%3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more
3%3% Cash Back at U.S. gas stations
1%1% Cash Back on other purchases
  • Intro Offer
    Earn a $350 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.

    $350
  • Annual Fee

    $95
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    670-850
    Excellent, Good

Why We Chose It

If you like cash back and spend a lot on groceries at U.S. supermarkets, you can’t get much better than the Blue Cash Preferred® Card from American Express. This card offers 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). Check out our latest guides, news, and reviews for this card below.

Pros

  • This card has one of the best earning structures out there for cash-back credit cards.
  • The card does come with access to Amex Offers (enrollment required), which can save you even more money on specific purchases.

Cons

  • There is a $6,000 spending cap on the U.S. supermarket bonus category, which may not work for those with large grocery budgets.
  • You’ll have to pay a foreign transaction fee on international purchases, so it’s not a great choice when you’re traveling abroad.
  • Earn a $350 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
  • Balance Transfer is back! Enjoy 0% intro APR on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 16.99%-27.99%.
  • Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 Plan It fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a fixed monthly plan fee up to 1.33% of each purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
  • 6% Cash Back on select U.S. streaming subscriptions.
  • 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
  • 1% Cash Back on other purchases.
  • Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
  • Thinking about getting The Disney Bundle which includes Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $13.99 or more each month on an eligible subscription with your Blue Cash Preferred Card. Enrollment required.
  • $95 Annual Fee.
  • Terms Apply.
  • See Rates & Fees