Amex has a fresh look and new approach for one of its popular credit cards.
The Blue Cash Everyday® Card from American Express now offers cash back bonuses for some of the most relevant spending categories in 2022. You can make up to 3% back on your purchases at US gas stations, US supermarkets and US online retail purchases, up to $ 6,000 per year, with no annual fee (see rates and fees).
Amex also unveiled a new streaming TV perk for cardholders in a recent announcement of the changes, which are already active on the card. This new perk may also impact customers who have the Blue Cash Preferred® Card, which is one of our top picks for rewards credit cards to use while buying groceries.
In this article, Team Clark will walk you through these changes and analyze whether they help this credit card compete with the best cash back cards on the market.
1. A Fresh New Look for the Everyday Card
After years of being that “clear, see-through Amex card” your friend had in his wallet, the Blue Cash Everyday card now has an overhauled design in conjunction with this 2022 revamp of its rewards program.
This new look is much closer to that of the Blue Cash Preferred credit card, which makes sense because these cards are in the same “Blue Cash family” of Amex cards. The Preferred card carries a $ 95 annual fee but offers some enhanced rewards that may make it worth the upgrade cost to some cardholders (see rates and fees).
2. An Enhanced Rewards Program
This card’s rewards program is built on the concept of 1% cash back on everyday purchases with bonus opportunities to earn up to 3% back in select categories.
That has not fundamentally changed in this latest overhaul, but the categories in which you can earn 3% back have become a bit more attractive.
Here’s what you can expect moving forward:
- 3% cash back at US supermarkets on up to $ 6,000 per year
- 3% cash back on US online retail purchases on up to $ 6,000 per year
- 3% cash back at US gas stations on up to $ 6,000 per year
- 1% cash back on other purchases
Once you reach $ 6,000 per year spent in a 3% cash back category, the rewards revert back to 1% cash back for the remainder of that year. Terms apply.
Gasoline, groceries and online shopping are three major spending areas for many consumers in 2022, so this shift makes sense.
If you already have the Blue Cash Everyday Card in your wallet, you may have noticed that Amex chose to remove its 3% bonus for US department stores as a part of this shift. That’s a bummer, but most people would likely trade that to ensure they get the three categories now included.
Money expert Clark Howard generally recommends that you start with a 2% cash back card in your wallet to ensure you get at least 2% back on everything you buy. This card could be a reasonable addition to your wallet alongside a 2% card as a way to get 3% in some important spending categories.
3. Introductory APR and Welcome Bonus Offers Have Changed
If you’re looking for an introductory APR period with your new credit card, the Blue Cash Everyday now offers a chance to enjoy that on both new purchases and balance transfers.
The card offers 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. Afterward, the variable APR will be 15.49% -26.49%, depending on creditworthiness. Balance transfers are subject to a fee, which is either $ 5 or 3% of the amount of each transfer, whichever is greater (see rates and fees).
Prior to the card refresh, it was not offering balance transfers.
The card also has a new offer on its “$ 0 Buy Now, Pay Later” program’s “Plan It” fees on plans created during the first 15 months from the date of account opening.
Plans created after the fee-free 15-month period will be subject to a fixed monthly plan fee, which can be up to 1.33% of each purchase amount. Your after-intro APR may also apply (see rates and fees).
As for the welcome bonus, it’s still reasonably easy to achieve.
You can get $ 200 after you spend $ 2,000 in purchases on your new card within the first six months of card membership. You will receive the $ 200 back in the form of a statement credit. Terms apply.
4. New Streaming TV Perk Can Help You Save
As more consumers are cutting the cord and leaving their cable subscriptions behind for streaming TV, we’re seeing more credit card companies find ways to reward streaming subscription purchases.
For the purposes of this refresh, Amex landed an agreement with The Disney Bundle to give cardholders a chance to effectively enjoy Hulu, Disney + and ESPN + at half the retail cost.
You can get a $ 7 monthly credit by purchasing The Disney Bundle with your Amex Blue Cash Everyday card. That will return you half of the $ 14 monthly subscription fee for this bundle, so it’s worth up to $ 84 per year.
You must enroll for this on either the Amex app or website and then pay your bill for the streaming services with your Amex credit card each month. You’ll get your $ 7 per month in the form of a statement credit on a future bill.
While this perk was introduced as part of the Blue Cash Everyday refresh, I found that it applies to the Blue Cash Preferred card as well.
I was able to log in to my Amex account as a Blue Cash Preferred cardholder and enroll.
Here’s what that looks like on the Amex app.
5. Home Chef Credit Could Also Save You Some Cash
Along with the streaming credit opportunity, Amex also unveiled a new Home Chef credit available for Everyday cardholders.
You can get up to $ 15 per month in statement credits when you purchase Home Chef meal solutions online with your enrolled Blue Cash Everyday Card. That’s up to $ 180 per year.
Home Chef is an online business that will customize prepared meals, box them and deliver them to your front door for in-home preparation.
To see the rates and fees for the American Express cards featured, please visit the following links: Blue Cash Preferred® Card from American Express: See Rates and Fees; Blue Cash Everyday® Card from American Express: See Rates and Fees.
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