Amex BLUE CASH Card Showdown | Preferred vs. Everyday
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- เผยแพร่เมื่อ 14 มิ.ย. 2024
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Right out of the gate the Bluecash every day has no annual fee and is currently offering a $250 sign up bonus when you spend just $2000 in the first six months of having this card which for a free credit card is one of the best offers currently on the market. The blue cash preferred card on the other hand has a $95 annual fee and is currently offering a $400 sign on bonus when you spend $3000 in the first six months which again is a pretty great sign up bonus in that $95 category.
The free Bluecash every day card offers 3% on grocery stores, select online purchases, as well as gas stations while the $95 preferred card gives you 6% back on grocery stores, 6% on streaming services, and then 3% on US gas stations as well as transit which includes things like taxis, ride sharing platforms, parking, and that sort of stuff. Both cards are capped at $6000 per year on the US super market category which again is 3% on the every day card and 6% on the preferred card. Additionally the 3% back with the every day card on online retail purchases is capped at $6000 per year while the 6% on your streaming services with a preferred card is not capped. And lastly, the 3% back with the preferred card on US gas stations and transit has no limit while the 3% back on gas with the every day card does have that $6000 spending limit.
Beyond those bonus categories preferred card is going to give you a $120 equinox credit for equinox plus which personally I don’t think is a huge benefit to anyone unless you are already paying for that subscription service while the Bluecash every day card is going to give you more useful benefits in my opinion such as a seven dollar monthly credit towards the Disney+ bundle which includes Hulu, Disney+, and ESPN+ as well as a $180 annual credit towards home chef which is a home delivery meal service.
So in order to justify the $95 annual fee with the gas category alone, you would have to spend an additional $3167 per year on gas beyond that $6000 spending limit. Meaning in order to come out ahead with nothing but the gas category you’d be looking at over $9000 per year in gas spending so long story short, unless you drive an insane amount of miles each year, you’re probably not going to come out ahead based on gas alone. Outside of those two major categories if you spend a lot on streaming services or maybe you live in a city and spend a lot on transit then the preferred card would be the obvious option whereas if you spend a lot on eligible online retail purchases then you’ll probably want to closely look at the every day card.
0:00-Blue Cash Preferred vs. Everyday
1:06-Annual Fees & Sign-Up Bonuses
2:04-Cash Back
4:50-Additional Benefit
6:14-CORE Differences
7:46-Major CONS
9:04-My FINAL Verdict
Music from Epidemic Sound
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Bottom line is to go with the Blue Cash Preferred if you spend more than $3,200 on groceries in my opinion! That’s where you hit the break even point in that grocery category where it makes more sense to go with the BCP over the BCE. The Blue Cash Everyday is still a great card, especially for people looking to get started with Amex, but for the most value for your spend, I would go with the Blue Cash Preferred. Great video Brendan!
Would the break even number not be 1600? 6% of 1600 is 96 dollars. Am I missing something? Thanks!
@@grantmiglicco8614 You're thinking about it correctly in the terms of annual fees. That break even point I mentioned is when it makes more sense to go with the BCP over the Amex Gold based on the earning rates they give you on grocery stores with their effective annual fees taken into account. Since the Gold card has an effective annual fee of $10 and the BCP has an effective annual fee of $95, that difference in earning rates makes the Gold card more favorable up until $3200 of spend a year on groceries. However, this all goes out the window depending on how you like to redeem points, what credits you value, etc. It's a subjective topic for sure!
I have the Blue Cash Preferred but would like to pair it with another cash back Amex card. Doesn’t it makes sense to pair the BCP and the BCE? They’re very similar but after reaching $6k in groceries for the year, wouldn’t it make sense to start using the BCE to receive 3% back instead of 1%? Get the sign up bonus from both! And only one has an annual fee! Why not just pair both if you already have the BCP and get the best of both cards at no extra expense?
i hold the BCP (to my fellow active duty military, this card is a MUST own due to them waiving the AF), still considering getting the BCE due to the online retail, sign up bonus, and 3% groceries after hitting the $6K annual off the BCP
Ive been waiting for this video from you!
You get the $7 disney bundle credit with the blue cash preferred as well im loving the card
I use Amex Blue preferred along with my Chase freedom unlimited for pretty much everything 👍🏾🤑
My wife and I spend roughly $300 a week on groceries (we have a large family) so I would obviously justify the annual fee for the BCP card… but we do our primary grocery shopping at Wal-Mart.
I heard that it does accept neighborhood wal mart do you know if that’s true?
@@EfootballC7 I do not know. We do not have any of the neighborhood markets in our area.
Great video! I currently run with the Everyday but I can definitely see the benefits of the Preferred. I would definitely get enough value for the $95 annual fee. Something to consider down the line. Thanks!
Does this work if I order groceries online? Or do I physically need to go to the store and shop to get the 6x back?
Does anyone know Kroger deliver qualifies for 6% with the BCP? Thanks!
See I was on board with the preferred being better than the everyday , (currently have everyday) but the Preferred loses the 3% on online retail right?.. I buy alot of clothes. Makes me not want to upgrade to preffered because of that.
I have both, Im happy with them =)
Hello! Question about my potential wallet setup: I am trying to build my wallet around my Amex Gold; using it for dining, supermarkets/department stores and flights. But I would like to get a cash back everyday spender on all other things. Personally, I think the Everyday would work better for me over the Preferred, but do you think this two card setup is a good idea?
I started with the Everyday card and, after keeping it in good standing, I got an offer to upgrade the same card to the Preferred, with another bonus on top. Talk about taking my cake and eating it too!
Tricky little thing with the Preferred now is that Equinox+ credit
WAIT!!! I have a question. So with vanguard, videlity, and wealthfront. Wealthfront has vanguard and videlity index funds within there investing platform and options ? Bc I don’t know which one is the best for me to invest.
Also consider Charles Schwab, I switched from Fidelity to CS and Amex has 2 cards with them.
Can I get the preferred for the first year and then downgrade to the everyday the second year and waive the $95 fee ?
You should be able to once the annual fee posts in year 2
On Team Amex only, I shop at Walmart supercenters the most so for me, neither of these cards would work. For that, I went with the Cash Magnet on Team Cash Back. On the MR points side, I use the Blue Business Plus for Walmart supercenters.
At Aldi's or any regular supermarket, I use the same BBP or the Regular EveryDay and on the Cash Back side, I use the Cash Magnet. For dining on Team Points, I use my Green card and for Team Cash Back, Cash Magnet.