Increased $300 cash-back intro bonus

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Most of us are spending more on groceries through the pandemic, so using a credit card that earns bonus rewards at the supermarket is even more important these days.

There’s now an increased bonus to consider on one of our favorite cards for grocery spending: The Blue Cash Preferred® Card from American Express is offering a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.

It’s a great pick if you prefer earning cash back, because the card earns 6{b530a9af8ec2f2e0d4045baab79c5cfb9bfdc23e498df4d376766a0b44d3f146} back at U.S. supermarkets on up to $6,000 in spending per calendar year (then 1{b530a9af8ec2f2e0d4045baab79c5cfb9bfdc23e498df4d376766a0b44d3f146}). You’ll also earn 6{b530a9af8ec2f2e0d4045baab79c5cfb9bfdc23e498df4d376766a0b44d3f146} cash back on select U.S. streaming subscriptions, 3{b530a9af8ec2f2e0d4045baab79c5cfb9bfdc23e498df4d376766a0b44d3f146} cash back at U.S. gas stations and on transit (including taxis, rideshares, parking, tolls, trains, and buses), and 1{b530a9af8ec2f2e0d4045baab79c5cfb9bfdc23e498df4d376766a0b44d3f146} cash back on everything else.

If you max out the $6,000 limit at U.S. supermarkets, you could earn $360 in cash back each year just from that category alone — that’s more than enough to offset the annual fee of $95 (waived the first year) (See Rates).

We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Earn a $300 bonus with the Amex Blue Cash Preferred card

Previously, the bonus on the Blue Cash Preferred® Card from American Express was $250 back after meeting minimum spending requirements, so the new offer to earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months is a nice boost if you’ve been thinking of applying. Plus, because the annual fee is waived for the first year, the bonus and rewards you earn in that timeframe go straight back into your pocket.

The cash back you earn from the Blue Cash Preferred® Card from American Express is issued in the form of reward dollars, which you can apply to your account as a statement credit once your balance is $25 or more. Keep in mind you can’t use your rewards toward the minimum payment due.

The card’s earning rate of 6{b530a9af8ec2f2e0d4045baab79c5cfb9bfdc23e498df4d376766a0b44d3f146} back at US supermarkets on up to $6,000 in spending per year (then 1{b530a9af8ec2f2e0d4045baab79c5cfb9bfdc23e498df4d376766a0b44d3f146}) is among the best of any credit card with a grocery bonus, and earning 6{b530a9af8ec2f2e0d4045baab79c5cfb9bfdc23e498df4d376766a0b44d3f146} back on US streaming services (like Netflix, Hulu, and Spotify) is especially handy during the pandemic. 

The Blue Cash Preferred® Card from American Express also comes with shopping and travel benefits, including purchase protection, return protection, extended warranty, and car rental insurance.

New cardholders can also take advantage of an introductory 0{b530a9af8ec2f2e0d4045baab79c5cfb9bfdc23e498df4d376766a0b44d3f146} APR on purchases for the first 12 months (then a 13.99{b530a9af8ec2f2e0d4045baab79c5cfb9bfdc23e498df4d376766a0b44d3f146} to 23.99{b530a9af8ec2f2e0d4045baab79c5cfb9bfdc23e498df4d376766a0b44d3f146} variable APR). That’s useful if you have large expenses coming up that you want to pay off over time without accruing lots of interest — just be sure you can pay off the balance before the intro APR period expires.

If you’re considering the Blue Cash Preferred® Card from American Express, be sure to have a look at other cash-back credit cards, like the Chase Freedom Unlimited® or Capital One® Savor® Cash Rewards Credit Card, which also offer substantial welcome bonuses and different bonus categories that might be a better fit for your spending habits.

Alternatives to the Amex Blue Cash Preferred

Two other Amex cards, The Platinum Card® from American Express
and American Express® Gold Card
, are also terrific choices if you’re looking for a card with an elevated welcome bonus.

With the Amex Platinum Card, you’ll earn a bonus of 75,000 points after you spend at least $5,000 in your first 6 months of account opening. Plus, new cardholders can earn 10x points at US supermarkets and US gas stations on up to $15,000 in combined spending (then 1x) in the first six months of account opening. If you spend a lot on groceries and gas, the new cardholder 10x bonus could be much more lucrative than the earning rates on the Blue Cash Preferred® Card from American Express.

Meanwhile, the American Express® Gold Card is also a good pick for grocery shoppers, with a bonus of 60,000 points after you spend at least $4,000 in your first 6 months of account opening, 4x points on up to $25,000 spent at US supermarkets each calendar year (then 1x), and 4x on dining worldwide. If you prefer the flexibility of Amex Membership Rewards points, the American Express® Gold Card could also be a better deal for you.

Jasmin Baron is an associate editor at Personal Finance Insider, where she helps readers maximize rewards and find the best credit cards to fit their lifestyles.

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