The Blue Cash Preferred card is perfect for those who consistently spend lots of money on the essentials: groceries, commuting expenses, gas, and online streaming services. The rewards can be as impressive as they are wide-reaching. You will earn a solid 6% cash back on gas and grocery stores.
There are many perks to this card as well. This card comes with a cash back guarantee. This means that you do not need to wait for months for a reward to show up. It will show up immediately, usually after you make your first purchase. And even if it does not, you will get an email from the bank stating that you are entitled for the bonus.
There is also a $200 shopping spree every year included in this card. The advantage to this shopping spree is that it is valid only for that one year. You may not want to use it if you want to benefit from other benefits like airline miles or shopping perks.
The card has a cash advance fee and a higher than average interest rate. If you can find a card with a lower interest rate, it will be better. The card does come with a low annual percentage rate, but the interest rate increases if the card is not paid off within a certain period of time. The good news is that there is an automatic reminder system included in the email you get if you fail to pay the card off in a certain period of time.
The only drawback to this card is that you cannot apply if you have bad credit. Also, it does not help those who tend to use the card more than their budget allows. It can be difficult to balance out your spending and still stay within the spending limit. So if you really need the card, you should read the terms and conditions carefully.
It is also important to remember that the terms and conditions of the card change from time to time. So if you want to be on top of your spending and use the card to the fullest, you should check the changes often to avoid surprises down the road.
There are some people that may wonder about the cost of this card compared to other cards. Well, it is very affordable and it does not have a lot of fees associated with it. But most people find that it is not worth the cost when . . . . . . they look at the rewards.
Overall, this card has many positive attributes. However, if you have bad credit, you should consider other options. But if you have good credit, this card is worth considering.