Update 8/22/22: Deal is back, this time it’s a NerdWallet affiliate link so keep in mind they will get commission if you get this card. Can’t seem to find a non affiliate link for this offer. Hat tip to Alex
Update 6/7/22: The $350 + waived annual fee offer is back (go incognito). Might be available via referral links as well.
The Offer
- Blue Cash Preferred is offering a bonus of $350 after $3,000 in spend within the first six months
Card Details
- Annual fee of $95 waived first year
- Card earns at the following rates:
- 6% cash back at U.S. supermarkets (up to $6,000 in spend annually, then 1%)
- 6% cash back on select U.S. streaming subscriptions
- 3% cash back at U.S. gas stations
- 3% cash back on transit (e.g taxis/rideshare, parking, tolls, trains, buses and more)
- 1% back on all other purchases
- You can only get the sign up bonus on American Express cards once
Our Verdict
The best straight bonus on this card before was $300, but there was a $200 + $200 (20% back on Amazon) offered and home furnishing up to $500. This is a good deal if you just want a straight cash offer. We will add this to our list of the best credit card bonuses. There is also a $250 bonus on the everyday card, but not worth considering as there was previously a $350 deal.
Hat tip to Chase-ing UR points
Dead? Only seeing $250 with waived AF
Doesn’t seem to work for NO AF. But thanks to the tip from Yoshamano below, I got $300 with NO AF
I did not head the warnings and got charged 95 fee. I will suck it up since they denied my request the fee be waived. Read the offers closely and screen shot everything!
Dead? I don’t see the AF waived on Nerdwallet, nor clicking through their link.
Same, not able to see waived AF
I currently have this card on a no-fee upgrade but will definitely downgrade after the anniversary passes. The benefits are nice, but if you do the math you’ll quickly discover the need to spend lots at the grocery store to offset the annual fee. We aren’t big eaters, plus the AMEX reputation of clawbacks and account closure have scared us off from using the card extensively and repeatedly for manufacturered spending.
Agreed.. you just reminded me of the Amex RAT team. I buy a lot of Amazon GCs from grocery stores and it is indeed risky to do it with Amex. Citi and Chase are safer bets at least up to now. That is said the 6% on grocery is only up to $6000. That is average $500/month. For a family of 4 or 5 given the inflation, it is quite easy to spend that much per month on groceries. Also, for people who still have the Amex Corporate Card the AF is 95-50 credit = 45/year so it is not so bad.. With the credit it would be just a 5.25% grocery card up to $6000 grocery spending.
what is the likelihood of amex matching this offer if I recently completed spend for the $300 offer but have not received the bonus yet?
0%
does this work if I already had the same card within last two years?
There is also an upgrade offer of $75 after 1000 spent and waived AF for 1 year. Not nearly as good but may be an option to people who have gotten BCP before and downgraded. To me it comes right in time when my CFU 5% is about to expire in 1 month. IMO this is a better deal as they used to offer $150 upgrade without waiving annual fees… Not sure if they would offer a better deal in the near future though.
Hmm. upon further research on this site in 2018 and 2019 they used to give $250 (AF not waived) or 150 (AF waived) offers for this upgrade. Maybe it would be worth waiting and use alternative cards for grocery.
I became the DP I was looking for about hard pulls and the waived annual fee.
Hard Pull – It doesn’t look like there is one. I have everything frozen and I just applied and was approved instantly. I have an AmEx Everyday as my only card before I applied.
Waived AF – I stumbled into this by chance, but it’s a different not quite as good deal. Start from the NerdWallet link, but don’t apply from that link. Instead, click on the “Check for Offers” button inside the blue “Check if you Pre-Qualify for Offers with the Blue Cash Preferred® Card” box. From there, scroll down the page until you get to the “Browse All Cards” section, and then click on the Blue Cash Preferred Card. There you’ll see an offer for $300 for $3,000 spend instead of $350, but the AF is waived the first year. So it’s not $350 out the door, it’s only $300, but that’s better than $350 minus the $95 AF.
Thanks for the update. So in this scenario if after first year one decide to downgrade from BCP to avoid annual fees, what options will be available (Assuming one already has BCE).
Yes thank for this tip. I just logged in and checked for other credit cards. Got the $300 offer with NO AF.