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Last Chance For A Cap-Free Blue Cash Preferred Card…

Update: Offer expired!

Originally posted on 10/11:

Blue Cash Preferred Card from American Express

The Blue Cash Preferred Card currently gives 6% cash back at grocery stores, 3% cash back on gas and department stores, and 1% cash back elsewhere.

The 6% is quite lucrative obviously and people were buying gift cards and prepaid credit cards (which can be cashed out) at grocery stores to take advantage of that. Plus my local grocery store gives 6%-12% of gift card purchases back to you in the form of discounted or free gasoline, so the actual net discount on gift cards was 12-18%.

All good things come to an end though and at your next card renewal date (when you get billed the $75 annual fee) that occurs on or after 01/15/13 you will be subject to a cap of $6,000 of grocery spending. After you spend $6,000 (earning $360 of cash back) it will drop to just 1%.

The good news is that cards that are opened before 11/05/12 will have an entire year of uncapped 6% cash rebates on grocery purchases! Cards opened on or after 11/05/12 will be subject to the new $6,000 cap immediately.

If you are an existing cardholder and pay your annual fee in March for example then the cap starts in March of 2013. If your annual fee normally comes up in December than you’ll have all the way until December of 2013 with no cap.

•Earn $150 cash back in Reward Dollars when you spend $1,000 in the first three months of Cardmembership.
•Get 6% cash back at U.S. stand-alone supermarkets, 3% cash back on gasoline at U.S. stand-alone gas stations and select major department stores; 1% cash back on other purchases.
•Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. Cash back is earned only on eligible purchases.
•Simple and Straightforward: With the Blue Cash Preferred Card, you can start earning cash back. No rotating reward categories. No enrollment required.
•An annual fee that can pay for itself: With 6% cash back at supermarkets, if you spend $25 per week at your supermarket, you can earn over 75 Reward Dollars per year and your $75 annual fee will pay for itself.
•Terms and Restrictions Apply.

HT: DP7, via DDF

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66 Responses to “Last Chance For A Cap-Free Blue Cash Preferred Card…”

  1. Daniel Says:
    1

    Any word on the Gas and Department stores 3% back? Is it going to be capped as well?

    ReplyReply
  2. Dan Says:
    2

    @Daniel:
    Those will not be capped.

    ReplyReply
  3. EJB Says:
    3

    Any word if the cap applies retroactively after the renewal period or from the renewal date onward? My account renews in August – What happens if I spend 10k on groceries until August?

    ReplyReply
  4. Dan Says:
    4

    @EJB:
    The cap is per calendar year, so if you spend $10K before August 2013 you won’t get the 6% from August-December of 2013.

    ReplyReply
  5. milechazzer Says:
    5

    At least PenFed is still sticking with the 5% back on gas.

    ReplyReply
  6. Dan Says:
    6

    @milechazzer:
    They knocked off all the other categories on that card, that will be the next to go.

    ReplyReply
  7. milechazzer Says:
    7

    @Dan:

    I’m trying to stay positive 😉

    ReplyReply
  8. Mendel Says:
    8

    Is walmart, Costco… considered department stores?

    Thanks

    ReplyReply
  9. EJB Says:
    9

    @Dan,
    Any idea if they will take away the 4k extra @6% if I spend 10k before the contract renew date?

    ReplyReply
  10. Dan Says:
    10

    @Mendel:
    No, though some Super Walmarts are categorized as grocery stores.

    @EJB:
    They definitely will not take it away.

    ReplyReply
  11. Mendel Says:
    11

    @Dan:

    Thanks

    Do you know what type of stores are categorized as Department stores to get the 3%?

    Thanks

    ReplyReply
  12. Dan Says:
    12

    @Mendel:
    Macy’s, Nordstrom, Kohl’s, etc.

    ReplyReply
  13. Ben Says:
    13

    Which prepaid cards can be cashed out & how?

    ReplyReply
  14. ari Says:
    14

    seems like name brand shoprite, pathmark etc are left out “stand-alone supermarkets” would preclude the namebrands of the 6% rebate
    and for those of us in lkwd NPGS doesnt accept amex period so no graet shakes for lkwd

    ReplyReply
  15. Dan Says:
    15

    @ari:
    Why would Shoprite and Pathmark be excluded?
    Any supermarket/grocery should work just fine.

    ReplyReply
  16. joe Says:
    16

    @ari: NPGS has been accepting AMEX for almost a year already!

    ReplyReply
  17. Ari Says:
    17

    Will this apply to the standard Blue cash card (no annual fee)
    I currently get 5% on Groceries.

    ReplyReply
  18. Dan Says:
    18

    @Ari:
    That card has been discontinued for quite some time. Check your October statement for any possible changes.

    ReplyReply
  19. Yitzy Says:
    19

    @Dan: Where is the best to transfer Amex points NOW?

    ReplyReply
  20. ari Says:
    20

    Nope I use it everyday.
    And the reason why I never upgraded was that I did the math and it didnt make sense to change. I get %5 on gas too and i travel a lot. preferred only gives you %3.

    ReplyReply
  21. AP Says:
    21

    Dan- Will AMEX allow us to get another card is we sign up now?

    ReplyReply
  22. Dan Says:
    22

    @Yitzy:
    Depends on your needs.

    @AP:
    Sure.

    ReplyReply
  23. Yitzy Says:
    23

    @Dan: to sell them afterwards

    ReplyReply
  24. azhoopsfan Says:
    24

    If my renewal date is Aug 2013 and I were to spend $10k between Jan 2013 and July 31, 2013, do I still get to spend $6k and earn 6% between August 2013 and December 2013? Or will my spend in Jan-July be counted toward my cap after the renewal date (since it’s the same calendar year)?

    ReplyReply
  25. Dan Says:
    25

    @Yitzy:
    Call a broker.

    @azhoopsfan:
    My guess is that the previous spend will count towards the calendar year limit.

    ReplyReply
  26. Anonymous Says:
    26

    hi if i want to do a 3 BM for amex for my husband and myself and we already have spg which we cannot close bec theyre the oldest cards by far, which two should we get besides this? id prefer high initial points without crazy spending requirements.tx

    ReplyReply
  27. Dan Says:
    27

    @Anonymous:
    I have 4 active primary SPG cards 😀

    Other AMEX cards can be found here:
    http://www.dansdeals.com/archives/14078

    ReplyReply
  28. grocery releif Says:
    28

    hi, i just got 2 new chase cards what can i get bets for grocery shopping i do use cc for groceries a lot dont think i can apply now again for new cc card what u think

    ReplyReply
  29. azhoopsfan Says:
    29

    It will be an interesting call with retention/cancellation if they’re trying to get me to pay $75 in August 2013 and immediately after paying i’m getting only 1% on groceries for the rest of the year.

    ReplyReply
  30. newdanfan Says:
    30

    When I tried to click on the link above to apply for this card, I got this notification: “We apologize that the offer you are looking for may no longer be available.
    Click here to learn more and apply for the current offer available to existing American Express ® Cardmembers.” Does this mean the offer is dead? Is there another link I can use to get these benefits for a full year?

    ReplyReply
  31. chaim Says:
    31

    @newdanfan:
    if you get that error you need to browse incognito and then click the application link again.
    to browse incognito just press shift+ctrl+n in chrome or shift+ctrl+p in firefox or internet explorer.

    ReplyReply
  32. newdanfan Says:
    32

    @chaim: Thank you! That’s working now. In terms of churning, can someone remind me what to do in the application? I should list all of my information, just as I did the last time?

    ReplyReply
  33. Moshe Says:
    33

    If I have this card and my wife has a second card on the same account will it be $6K per card or $6K per account? The cards each have their own # but the 2nd card was ordered as a second user on my account.

    Thanks

    ReplyReply
  34. Anonymous Says:
    34

    are you saying i can reapply for another spg card without closing the old one? or do you mean business – cuz i seem to have understood you cannot do business and consumer in one 3BM.

    also from the link you posted it wld seem to me that i shd apply for the blue cash preferred, premier rewards gold card, and then either the blue sky or delta. what do u think?
    also r those links in the jan article the best ones to use?

    ReplyReply
  35. issac Says:
    35

    @Mendel: no it is not target wall mart etc. are considered superstores

    ReplyReply
  36. SB Says:
    36

    Do Kosher Supermarkets generally get 6% cash back as well. AMEX told me that specialty supermarkets are excluded. Does that include kosher?

    ReplyReply
  37. Dan Says:
    37

    @Moshe:
    Per account I would assume.

    @Anonymous:
    You can do consumer and business in a 3bm.
    http://www.dansdeals.com/archives/23754

    @SB:
    They should work just fine in my experience.

    ReplyReply
  38. Stacy Smith Says:
    38

    I read the actual wording from my latest statement and basically it says that from Jan 15, 2013 my cashback will be capped for a calendar year.

    I got the card in June 2012. So contrary to what you are claiming (getting a full year before cap goes into effect) I will not be getting time until June 2013.

    You should clarify that.

    ReplyReply
  39. Dan Says:
    39

    @Stacy Smith:
    Actually the wording from the statement is “This change becomes effective when your account renews on or after January 15, 2013”
    Your account renews when your next annual fee comes due.

    ReplyReply
  40. Stacy Smith Says:
    40

    I take that back. I spoke to customer service and they clarified:

    “This change becomes effective when your account renews on or after January 15, 2013

    So I am good until next June

    ReplyReply
  41. Flowfaster Says:
    41

    @Stacy Smith:

    So the 6k cap starts and resets on your anniversary date?

    ReplyReply
  42. Ben Says:
    42

    Could someone please explain the prepaid card cashout process?

    ReplyReply
  43. 6 percent Says:
    43

    on my letter from amex it made no mention that old members wont be capped.
    m’hecha taisi?

    ReplyReply
  44. Chanie Says:
    44

    Is there an annual fee the first yr?

    ReplyReply
  45. HelpMe Says:
    45

    Dan did you confirm that cards opened after 11/5 will be subject to the cap?

    ReplyReply
  46. Dan Says:
    46

    @HelpMe:
    Yes.

    ReplyReply
  47. HelpMe Says:
    47

    @Dan: TY, time to apply for a few more.

    ReplyReply
  48. Anonymous Says:
    48

    Dan! Idk wat credit card to apply for as my 1st credit card. I have no credit. All I have is a wells Fargo debit card. And my parents don’t have credit cards either. Way shud I do? Thanx

    ReplyReply
  49. Monsey Says:
    49

    Is my local grocery considered a stand alone supermarket?

    ReplyReply
  50. Meir Says:
    50

    is there any credit card out there that covers you for collision and liabilty when you rent a car?

    ReplyReply
  51. Meir Says:
    51

    is there any credit card out there that would over me for collision and for liability when I rent a car.

    ReplyReply
  52. ziggy Says:
    52

    Hi. I just spoke with an American Express Representative and she told me the following:
    1)For new card members, there WILL be a cap after November 5th. She said that there is no offer that waives a cap.
    2)Stand-alone refers to a specific set of supermarkets and gas stations. There is a list, which includes large chains such as “Pathmark”(Supermarkets)/Shell, Mobil(Gas) and some others. Local groceries or even large stores such as Kollel Store are not eligible for the 6%.

    ReplyReply
  53. ziggy Says:
    53

    Okay – now my husband spoke with a different representative who gave completely different information about the card…confirming the information that Dan posted. So I’m just confused!

    ReplyReply
  54. Peter Says:
    54

    Which Grocery stores will provide additional % back? Grocery stores in East Coast will not have that promotion.

    ReplyReply
  55. Dan Says:
    55

    @ziggy:
    My info is that if you are approved for the card before 11/05 you will get a whole year of uncapped grocery spend.
    And anything coded as grocery qualifies, even local kosher stores.

    ReplyReply
  56. Sam Says:
    56

    Dan is there a reconsideration number for amex? I got a 14 day review message

    ReplyReply
  57. Dan Says:
    57

    @Sam:
    http://forums.dansdeals.com/index.php?topic=8028.0

    ReplyReply
  58. Sara Says:
    58

    @ziggy:
    In any case the Kolel store does not accept Amex and most local groceries don’t either.

    ReplyReply
  59. Sara Says:
    59

    I filled out an application but canceled before submitting because of the $75 fee. I had thought the first yr would be free. So, I have to spend over $1200 just to cover the fee. For me it’s not practical because, as I said in my previous post, most local groceries don’t accept the Amex card.
    However, I was thinking If we order an additional card for spouse, the fee would still be only $75; and if they have the $25 bonus per card like they did last year for Sat. spending in Dec. maybe it is worth it.
    What do you say Dan?

    ReplyReply
  60. Dan Says:
    60

    @Sara:
    Correct.
    Add 2 free additional cardholders and you’ll get back the $75 in Small Business Saturday credits.
    Add more and profit.

    ReplyReply
  61. d Says:
    61

    Hey Dan – What’s the deal with cashing out prepaid gift cards?
    How does that work?

    ReplyReply
  62. meech Says:
    62

    @Sara:
    you also get 150$ sign up bonus.. that covers 2 yrs in fees…

    ReplyReply
  63. Shvitzer Says:
    63

    I singed up for this card Thanks to Dan
    any one knows if I use this card only for grocery shopping will it trigger a FR by AMEX?

    ReplyReply
  64. zaidy Says:
    64

    Signed for the card on November 4th and I received it yesterday. On the list of rules they already mention the cap of 6k..

    ReplyReply
  65. aharon Says:
    65

    I signed up for the card before the deadline supposedly pre-cap. List of rules mentions cap anyways. Now they just sent me a letter stating that supermarkets will receive 3% cash back this coming year. I hope this an error, but I fear the card is being downgraded.

    ReplyReply
  66. Mike Says:
    66

    Hi Dan

    I know this post is quite old – just wondering what is the best cash-back program without ANY cap which allows purchase of gift cards in groceries (or anywhere..) ? So far I know Citi Double offers 2% cash-back on all purchases.. Is there anything out there that beats this?

    Also, is it possible to open multiple AMEX cards to increase cash-back rate (i.e, $6,000 per card..)?

    Thanks

    ReplyReply

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