American Express Gold vs. Blue Cash Preferred
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- เผยแพร่เมื่อ 18 ธ.ค. 2022
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Alright first of all let's talk about perhaps the most important comparison and that is the cost. The gold card comes in at $250 per year putting it on the upper end of intermediate credit cards while the blue cash preferred card comes in at $95 per year with your first year's annual fee being waived. So just keep that in the back of your head as we work our way through these comparisons and examples.
WWith the gold card you're looking at four points per dollar or in our example the equivalent of 4% cash back at all restaurants worldwide including takeout in delivery services. You also earn the same four points per dollar on grocery store purchases at US supermarkets on up to $25,000 in purchases each year. The blue cash preferred card doesn't have any bonus category for dining specifically so you're looking at just 1% cash back but on groceries you'll earn 6% cash back on up to $6000 in purchases each year at US supermarkets.
The blue cash preferred card also gives you 6% back on select US streaming services while the gold card has no equivalent for that so you'd again be looking at just one point per dollar in that category for the gold card. The blue cash preferred also gives you 3% cash back on transit which includes taxis, ridesharing, parking, tolls, trains, buses, and more.
In terms of additional benefits both cards are fairly simple with the gold card offering a $120 dining credits at select locations including Grubhub, cheesecake factory, Shake Shack, and several others. You also get a $120 Uber cash credits with the gold card which can be used towards Uber eats or ridesharing and both of these credits are given to you as a $10 monthly credit so you, unfortunately, can't go out and spend that whole credit at once. The blue cash preferred on the other hand is going to give you an $84 Disney bundle credit which includes Hulu, Disney plus, and ESPN plus as well as a $120 equinox credit.
So if you're a novice traveler who's looking to take your credit card game to the next level and has at least a high-level understanding of how credit card points work then the gold card shouldn't be too difficult to justify especially if you're able to effectively use those annual credits. And if you want the ultimate one two punch that covers all major categories then you can go with the approach that I am personally using which is the combination of the blue cash preferred and American Express gold card.
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Had the same dilemma. I kept both. BCP for groceries until 6K plus all gas and tolls. Gold for any grocery over the 6K Max plus all restaurants and airlines. Plus take advantage of any offers that I would normally use.
The BCP is amazing if you have the Disney Bundle and pay for a lot of streaming services. You get a $7 per month ($84/year) statement credit and earn 6% back on your monthly charges to Disney, which combined effectively reduce the $95 annual fee to zero. If you do your grocery shopping primarily at supermarkets, the 6% back there can’t be beat by any other card on the market up to the $6,000 annual limit.
BCP makes sense.
I run a Chase Trifecta (Unlimited Flex and sapphire preferred) along with and Amazon Prime card for Amazon which I use all the time and JetBlue Plus for flights specifically since I pretty much use JetBlue while CSP covers the dining and hotels.
I’m leaning towards BCP because that groceries and gas combo is big and a major hole in the chase trifecta that can be filled at an affordable price and since I can see myself spending more than 6k on such things, it makes sense
This video is exactly what I needed. Thank you!
Just the video I needed. I applied for both to take advantage of only one inquiry and I am trying to figure out my plan of action
i would use BCP specifically for streaming since it also comes with disney bundle. not gas, i have citi custom cash for that. Maybe groceries but AMEX gold has that covered along with dining but with more cap
can you do one for CSR and Amex Gold combo?
The best part about having both is in June when my $6000 6% grocery runs out on the BCP I still get 4% on the Gold card.
If you remember to activate, you can add the Discover It Cash Back and OG Chase Fredom if your grandfathered in or the Freedom Flex for 3-6 out of the year and just remember to activate when groceries is a category and add the Custom Cash for Grocery use only even with the $500 monthly spending cap for other options outside of Amex. You have options for 5%-6% cash back at supermarkets.
I’m thinking of doing a all Amex set up with three other cards. That are non Amex
I know the Preferred Blue has a 2.5ish% international fee. If I used mine to purchase an Oyster Pass. Would I get 3% back for transit?
I would get both they seem similar
Is the blue cash preferred metal?
Now if you could transfer am3x cashback to points. Imagine. Especially considering I have both
My opinion is that the green card and the BCP are a good combo while the platinum and gold are a good combo
Hey good video, I'm currently using Gold Amex with blue cash every day and it works wonders for me so far
If you don't care to stay in AMEX then i think, which I'm doing is Amex Gold and WF Active Cash 2% cash back ((unlimited) + 0 annual fee)) on everything is awesome combo, yeah not benefits from WF but you cant beat 2% on everything.
Do you actually have a personal Gold card or is that a business Gold card?
I think BCP makes more sense than the gold. Because there are other dining cards with lower to no annual fees.
If the gold had a much higher earning rate for groceries than BCP to justify its annual fee then I’d probably go with the gold card
I already have the BCP,, but I think I could benefit from having the Gold. I spent almost $9,000 on the BCP last year and offset the annual fee four times (technically 6 times, because I had three bonus referrals). However, I didn't hit the $6,000 mark on the groceries because I also shop at Costco and Sams (wholesale clubs). But, I did spend almost $9,000 on dining last year and the AMEX Gold would help with this and definitely will be a good boost to my points since I was usually earning 3X with my Chase Freedom unlimited and that has no annual fee. Should I go for it? Also, I plan to travel more this summer so this must just be a good card to add to my arsenal.
100% switch to a Gold card. Also, you aren't getting cashback for shopping at wholesale clubs. If you will be traveling, switching to a Gold card will let you transfer points to an airline where you can use them at a better rate than just 1 cent per point
@@noahpalmieri941 I am debating it. My only concern is that I spend over $100 on streaming per month and I did the math and it would essentially wipeout the annual fee plus I take advantage of the Disney Plus Bundle and it knocks down the effective annual fee to $11/year. I have until October to decide before the annual fee hits. I will see by then.
I primarily use American Express credit cards, but now EveryDollar has stopped doing business with American Express and no longer support adding American Express accounts, so I'm unable to connect my cards.
How are you able to still use this app effectively with AMEX, and if can't, what is the next best app in lieu of EveryDollar?
Do you know who the creator of everydollar is?....
I plan on manually entering in my AmEx purchases on the EveryDollar app.
I have a BCP and I got the BCP for my 68 year old mother. It is perfect for her. I stuck a label on it that says Groceries and Gas only LOL. I seriously doubt telling her pay this company $250 for this card because they trickle it back to $10 at a time if you remember will work.
Does McDonalds or other fast food get points for restaurants category?
Yes
I have the duo Amex blue cash Preferred & Amex Business Plus combination setup. Best fit for right now
Same 😂
@@ImStillStealingSteel Amen !!
The Gold and BCP is my set up for personal use. It’s a great combo.
That’s why I hate points. It’s a guess work on the point to dollar ratio. The company can always change the redemption value without changing the earnings multiplier. It’s harder, without users noticing it, is changing the % earned. Ie changing the earnings from 6% grocery to 4% grocery.
Do cash back cards just give the cash back to go towards your balance? And the points cards use points for multiple different benefits, not just as credit towards your balance?
Amex does cash back as a statement credit not actual cash that can be used.
I got the gold 6 months ago and just got approved for the BCP on Saturday, really excited to use the Amex Bifecta!
bifecta wont work cuz you cant transfer the cash back from the BCP to the Gold card. Gold card better
It may not be a good upgrade bonus from the blue cash every day but I got $1000 spending requirement for $75 cashback on the blue cash preferred even though I already have the gold card. I will keep the cash preferred open for a year and if I decide, I don’t want to pay the second annual fee on that, then I’m going to be Downgrading back to the blue cash every day. The gold card ironically, I can use both credits on Grubhub and Uber Eats, and that $10 effective annual fee is a steal.
Good video.I think you forgot 3% cash back on bcp for transit (uber) etc.
Amex gold card AKA the sexy card! 😂🔥 Keep up the great work my friend!
Right!! It’s just so beautiful. It’s the sexiest card of them all!
I have been waiting for this vid , I carry both they both have their uses and benefits
Which one do you use where to maximize the value?
@@Island_Landlord BCP for streaming / groceries , transit.
Gold for restaurant / Ubers / dining /flights
Why can't Amex give everyone 4X for dinning or list places that are preferred for 4X dinning then it would be simple for the user
Bro, I love the breakdown & editing style👏👏🔥🔥
Appreciate it!
Curious..(because I currently have both as well but am considering canceling BCP) how do you justify the 95 dollar annual fee on BCP if its major benefit (grocery cash back) isnt very useful if you have AMEX GOLD? Is the 6% streaming and 3% gas enough to justify the annual fee? Will you use BCP on groceries until you hit the cap then switch to amex gold? Will u only use amex gold on groceries? Whats your plan of attack with both cards?
Curious about this too.
Seems like a lot of effort just to break even on the BCF fee.
I have the BCP and max it out on groceries at 6%, gas at 3% and streaming….. we have had the Hulu, ESPN, Disney package for a while so it provides 6% off each month plus a $7 credit each month which is about 14% off on streaming in aggregate. The streaming by itself returns ~$145 a year, $360 maxed out on groceries plus the 3% on gas and the card is $95 a year.
If you had both cards, you would ideally use the Gold after you've capped out the 6K spending limit on the BCP. So you can reap the benefits of 6% up to 6,000, then you get 4% from Gold after that. Gold is not good enough to justify for groceries by itself, but if you plan to use it for travel and dining too then just go with Gold by itself if it's easier for you, and you don't care about 6% vs 4% for groceries
It’s free for a year then the second year you pay the fee
“Whoever named these products ought to be fired.”
Me: My thoughts exactly!
Excellent video‼️👏🏽👏🏽👏🏽
I don’t think having both cards is beneficial in my situation. I have the Amex gold card and was thinking about getting the blue cash preferred card. But I already have Amex gold that gives me 4% rewards for groceries. I have Chase ink card that gives me 5% cash back for streaming services with no annual fee. I have US Bank card that gives me 4% cash back for gas. Add to that, I have Discover that gives me 5% cash back for restaurants and 5% cash back for gas and 5% cash back for groceries every quarter of the year with no annual fee. So logically speaking, I’m saving more money by not having the preferred blue cash back Amex card that charges $95 a year.
@@shawn7603 does the 3% reward apply on Amazon too?
@@muradosman9998 yes sir, it falls under the retail category if you look on the site and other forums and blogs discuss this as well.
@@moejoe6198 thank you. I got it and used it for Amazon.
That Discover it card is so underrated. I think it is a must have in your wallet. It’s so versatile.
#TeamGold Right here
Love my BFC
Why would u say gold+bcp>venture x?
Great cards targeted for different types of costumers. In my opinion comparing transferable points card to cashback cards rarely makes sense because the redemption value is different.
My same exact thought process. Cashback vs Points are just two different worlds & are very subjective to the person. If you don’t care about traveling then Cashback is your thing & vice versa.