Review: Blue Cash from American Express

Regular readers here at Free Money Finance will know what I think of the Blue Cash from American Express card as I've talked about it several times. But since I need to write a review as part of a blogging challenge hosted by ProBlogger and I'm feeling "positive" tonight, I wanted to review something I could give a good review. Hence my choice.

For those of you not familiar with the Blue Cash from American Express card, here are the details:

1. It's a cash back credit card. Cash back is my preferred method to receive credit card rewards since I can then spend the rewards in any way I like.

2. It rewards cash back based on the following levels of annual charges:

• For total annual purchases of $0 to $6,500, I earn 1% back on "everyday" purchases and 0.5% back on all other purchases.

• For total annual purchases of $6,500.01 to $50,000, I earn 5% back on "everyday" purchases and 1.5% back on all other purchases.

• Everyday purchases are purchases made at U.S. supermarkets, gas stations and drug stores that are not departments of superstores or warehouse clubs.

I've been a user of the card for three years or so now, and here's my take on it:

1. I LOVE it! It saved me almost $500 last year and it's on the way to saving me even more this year.

2. It's the best credit card for high chargers (and I am a high charger.)

3. When combined with the Chase Freedom Cash Visa Card, the Blue Cash card can help to earn you over 2.6% cash back. This is way, way, way ahead of the industry standard of 1% for cash back cards.

As such, I give the Blue Cash from American Express card the label of best cash back credit card. That said, I have applied for the Chase Freedom Cash Visa Card (which there's a $50 bonus on as of this writing) and plan on using the two of them together soon to get myself toward that 2.6% goal.

Comments

[Dan at Everydayfinance]

That is certainly a good card for real high spenders. I've been using a couple cards for years and between my wife and I, we get back well over a thousand a year tax free. I've profiled a couple others that start at 5% right off the bat for multiple categories. So, if say, a 10,000 per year spender, one of the immediate 5% cards may work out even better since they don't start at the low rate.

[Credit Card]

Yes, the way you are thinking about Blue Cash from American Express card is right. I agree with you it is very beneficiary for the marketers, shoppers for each day making payments for transactions.

[FMF]

Dan --

What cards specifically? Every 5% card I've ever seen was 5% for a limited time and on limited items. I'd love to hear about a 5% card that didn't have tons of restrictions.

[Nicole]

Is this card a charge card (no spending limit) or a credit card (preset spending limit)?

[FMF]

Nicole --

I believe I have a limit, but that it's something outrageous like $20,000. It's never been an issue for me.