For most of us, the top three categories we spend the most money in are food, housing, and transportation. So it makes sense to focus on those three budget behemoths when trying to save money and get cash back. For all those trips to the supermarket (and more!) I’ve found that the Amex Blue Cash Preferred is the best credit card – earning 6% cash back! While it does have an annual fee, that’s easily offset by the juicy signup bonus, as well all the other bonused spend categories – including gas, transit, and streaming.
Just How Much Cash Back Are We Talking?
Like I said, the card earns you 6% cash back at US grocery stores (up to $6K in spend per year) *but also* 6% cash back on US streaming subscriptions (think Hulu, Netflix, Disney+, etc.), 3% cash back on all gas or rideshare/transit purchases, and 1% on everything else. You’ll also get $120 annual Equinox+ credit if that’s something you’re interested in. ?♂️Let’s take a look at what you might be able to save given average household spend on these categories:
| Category | Average Annual Household Spend | Cash Back |
| Groceries | $4,942 (source) | $297 |
| Gas | $1,572 (source) | $47 |
| Streaming | $564 (source) | $34 |
| TOTAL | $378/year! |
We’re Not Done Yet!
Don’t forget about the signup bonus when you use my referral link. That will get you up to an extra $400 after you spend $3K in the first six months (note: these offers can fluctuate). Even when you add in the annual fee, that’s a 10% return! Plus you’ll also get access to Amex Offers, which offer cash back when you make purchases at specific merchants. Using Amex Offers, I’ve saved hundreds at grocery stores, gas stations, car insurance, cell phone bills and more. Not all the offers are good or relevant, but the right ones are awesome.
And What About That Annual Fee? Is it Worth It?
For the first year with the sign up bonus? Absolutely. Afterwards? Well it all about how much you spend on groceries, but for most of us, yeah! Doing some quick math, as long as you spend on average $264 per month for groceries, you’re better off with the Preferred version of this card. If your typical monthly grocery spend is less, then ask Amex to product change the card to the Blue Cash Everyday which has no annual fee and still earns a respectable 3% cash back on groceries and 2% on gas.
Hope you found this helpful – be sure to check out my Referrals page for more!