bank rates

Amex Credit Card Pays 6% Cash Rebate

Blue Cash Preferred comes with a $75 annual feeWhile it’s not unusual to find a credit card that offers 5% cash back, many of those cards include tough earning limits.

American Express has upped the ante with its Blue Cash Preferred card, which offers 6% cash back on select purchases with no limit on the amount of cash back you can earn.

You’ll earn the top reward when buying groceries, but other categories also offer generous returns.

Cardholders earn:

  • 6% cash back on all supermarket purchases.
  • 3% cash back on all gasoline and department store purchases.
  • 1% cash back on everything else

American Express has lifted the earning limit it placed on previous versions of Blue Cash, and cash back can be redeemed in $25 increments.

Sadly, there is a $75 annual fee, and the interest rate after the introductory period ends is quite high.

All cardholders will receive a $100 cash bonus once they’ve spent $500 in the first three months.

Also included is a 0% intro APR on purchases for six or 12 months, depending on your credit.

After the intro period ends, the interest rate will be between 17.24% and 21.24% variable (that’s the prime rate plus 13.99% to 17.99%).

If you use this card, always pay the balance in full each month or you’ll quickly lose any value from the cash rebate.

But if you’re smart, you could save a bundle.

Compare this the best cash back credit card offers in our extensive database.

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Comments (1)
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One Existing Comment
  1. Mike Cetera said:
    on September 6th at 10:50 am

    The upper-end APR has increased to 22.24%.