Best Cashback Credit Cards 2024 #

Pros ✓

• High rewards on groceries
• Intro APR on balance transfers and purchases
• Access to exclusive Amex offers
• Purchase protection and extended warranties

Cons ✘

• Annual fee after the first year
• Lower rewards on non-grocery purchases
• Limited acceptance outside the U.S.

The Blue Cash Preferred® Card from American Express (See Rates and Fees; terms apply) is perfect for families who spend heavily on groceries and want to take advantage of a solid balance transfer offer.

Why we recommend it

This card offers an exceptional balance transfer offer and rewards program, especially for those who frequently purchase groceries.

What could be better

The card’s value decreases if you don’t maximize grocery purchases.

Ideal for

Grocery shoppers looking for a balance transfer card that also offers high rewards on everyday spending.

Our editorial team highly regards the Blue Cash Preferred® Card from American Express as a top-tier option for individuals and families aiming to consolidate debt while maximizing everyday rewards. The card’s standout feature is its exceptional 6% cash back at U.S. supermarkets, which is one of the highest rates available in this category. This makes it an ideal choice for households with significant grocery expenses, effectively turning routine purchases into substantial savings over time.

The introductory 0% APR on balance transfers for 12 months provides a valuable window to pay down existing high-interest debt without accruing additional interest. When combined with the robust rewards program, cardholders can simultaneously manage their debt and earn rewards on new purchases. This dual benefit sets the Blue Cash Preferred® Card apart from many competitors that often excel in only one area.

However, potential cardholders should consider the $95 annual fee that applies after the first year. To justify this cost in subsequent years, it’s important to ensure that your spending habits align with the card’s high-earning categories. If your grocery spending is moderate or if you prefer shopping at wholesale clubs or superstores, you might not reap the full benefits of the 6% cash back rate.

Another consideration is the card’s 3% balance transfer fee, which is standard but still adds to the cost of transferring a balance. It’s crucial to calculate whether the interest savings during the introductory period outweigh this upfront fee. Additionally, while American Express is widely accepted in the U.S., international travelers might find acceptance less universal abroad, potentially limiting the card’s utility during overseas trips.

In conclusion, the Blue Cash Preferred® Card from American Express is a compelling choice for those who can leverage its high cash back rates on groceries and streaming services while taking advantage of the balance transfer offer. It’s particularly well-suited for individuals committed to paying down debt within the promotional period and who have spending patterns that align with the card’s rewards structure. For rates and fees of the Blue Cash Preferred® Card from American Express, click here.