Blue Cash Everyday® Card from American Express Review

Navigating the labyrinthine world of credit cards can often be a daunting task. With a plethora of options available, choosing the right one that aligns with your financial goals and lifestyle can be overwhelming. Today, we will delve deep into the Blue Cash Everyday® Card from American Express, a card that has garnered significant attention for its robust rewards structure and no annual fee. As a financial expert, I will provide a comprehensive review, offering unique insights based on my years of experience in the finance sector.

Blue Cash Everyday® Card from American Express Review

The Blue Cash Everyday® Card from American Express stands out as a versatile option for various consumer needs. Whether you’re a frequent shopper at U.S. supermarkets, an online retail enthusiast, or someone who spends a significant amount on gas, this card offers a compelling mix of rewards and benefits.

Overview

Cash Back on Groceries: Earn 3% cash back on groceries at U.S. supermarkets, up to $6,000 per year in purchases, then 1%.
Cash Back on Online Retail Purchases: Earn 3% cash back on U.S. online retail purchases, up to $6,000 per year in purchases, then 1%.
Cash Back on Gas: Earn 2% cash back on gas at U.S. gas stations, up to $6,000 per year in purchases, then 1%.
Cash Back on Other Purchases: Earn 1% cash back on all other purchases.
Introductory APR: 0% Introductory APR for the first 15 months from the date of account opening on purchases and balance transfers requested within 60 days of account opening.
Variable APR: 19.24% – 29.99% after the introductory period.
Welcome Bonus: Receive $200 back after spending $2,000 in purchases on your new card within the first 6 months of card membership. This $200 is received in the form of a statement credit.
Annual Fee: $0

Blue Cash Everyday® Card from American Express Key Takeaways

Rewards Structure

The Blue Cash Everyday® Card offers a diversified rewards structure, making it suitable for various spending habits. The 3% cash back on groceries and online retail purchases caters to the modern consumer who spends heavily in these categories. Similarly, the 2% cash back on gas is advantageous for those who frequently drive.

Introductory APR and Welcome Bonus

The 0% introductory APR for the first 15 months is a significant advantage for those looking to make large purchases or transfer balances. Coupled with a welcome bonus of $200 after spending $2,000 in the first six months, this card provides immediate value to new cardholders.

No Annual Fee

One of the standout features of this card is the absence of an annual fee. This makes the Blue Cash Everyday® Card an attractive option for budget-conscious consumers who want to maximize their rewards without incurring additional costs.

Additional Benefits

The card also offers several additional benefits, including car rental loss and damage insurance, a 24/7 global assist hotline, purchase protection, and fraud protection. These features add an extra layer of security and convenience, making it a well-rounded offering.

Blue Cash Everyday® Card from American Express Pros and Cons

Pros

1. No Annual Fee: The absence of an annual fee makes this card accessible to a broad audience.
2. Robust Rewards on Common Categories: The 3% cash back on groceries and online retail purchases, along with 2% on gas, caters to everyday spending habits.
3. 0% Introductory APR: The 15-month 0% introductory APR on purchases and balance transfers is beneficial for those looking to make large purchases or consolidate debt.
4. Welcome Bonus: The $200 welcome bonus provides immediate value.
5. Comprehensive Additional Benefits: Car rental loss and damage insurance, 24/7 global assist hotline, and purchase protection add significant value.

Cons

1. Limited Redemption Options: Cash back is received in the form of Reward Dollars that can only be redeemed as a statement credit, limiting flexibility.
2. Capped Rewards: The 3% and 2% cash back categories are capped at $6,000 per year in purchases, which may be restrictive for high spenders.
3. Not Ideal for International Travel: The card lacks strong travel rewards and may incur foreign transaction fees, making it less suitable for frequent international travelers.

Blue Cash Everyday® Card from American Express Benefits

Cash Back Rewards

The primary benefit of the Blue Cash Everyday® Card is its cash back rewards structure. Let’s break it down:
1. Groceries: Earning 3% cash back on groceries at U.S. supermarkets is a significant advantage for families and individuals who spend a considerable amount on food. With an annual cap of $6,000 in purchases, cardholders can earn up to $180 per year in cash back from groceries alone.
2. Online Retail Purchases: In today’s digital age, online shopping has become the norm. The 3% cash back on U.S. online retail purchases addresses this trend, offering up to $180 in cash back annually on $6,000 in purchases.
3. Gas: For those who drive frequently, the 2% cash back on gas at U.S. gas stations can result in meaningful savings, up to $120 per year on $6,000 in purchases.
4. Other Purchases: The 1% cash back on all other purchases ensures that cardholders earn rewards on every dollar spent.

Welcome Bonus

The $200 welcome bonus after spending $2,000 in the first six months is a compelling incentive for new cardholders. This bonus effectively provides a 10% return on the first $2,000 spent, significantly enhancing the card’s initial value.

Introductory APR

The 0% introductory APR for 15 months on purchases and balance transfers is particularly beneficial for those planning large purchases or looking to transfer high-interest balances from other cards. This feature provides a window of opportunity to pay off debt or finance significant expenses without incurring interest charges.

Additional Benefits

1. Car Rental Loss and Damage Insurance: When you use your card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter, you can be covered for damage to or theft of a rental vehicle. This insurance can save you money and provide peace of mind during travel.
2. 24/7 Global Assist Hotline: This service offers coordination and assistance services when traveling 100 or more miles from home. Whether you need a medical referral or assistance with lost luggage, the global assist hotline is there to help.
3. Purchase Protection: This benefit covers eligible purchases against damage or theft for up to 90 days from the date of purchase. This feature adds an extra layer of security to your purchases.
4. Fraud Protection: American Express provides robust fraud protection, monitoring your account for suspicious activity and offering zero liability for unauthorized charges.

Rates and Fees

Understanding the rates and fees associated with the Blue Cash Everyday® Card is crucial for making an informed decision.
1. Annual Fee: $0
2. Purchase Intro APR: 0% for the first 15 months from account opening.
3. Purchase APR: 19.24% – 29.99% variable after the introductory period.
4. Intro Balance Transfer APR: 0% for the first 15 months from account opening on balance transfers requested within 60 days of account opening.
5. Balance Transfer APR: 19.24% – 29.99% variable after the introductory period.
6. APR for Cash Advances: 29.99% variable.
7. Fees for Balance Transfers: Either $5 or 3% of the amount of each transfer, whichever is greater.
8. Fees for Cash Advances: Either $10 or 5% of the amount of each cash advance, whichever is greater.
9. Penalty Fees: Up to $40 for late payments and returned payments.
10. Foreign Transaction Fee: None

Conclusion

The Blue Cash Everyday® Card from American Express is a compelling option for consumers seeking a versatile rewards card without the burden of an annual fee. Its strong cash back rewards on groceries, online retail purchases, and gas, coupled with a generous welcome bonus and a 0% introductory APR for 15 months, make it an attractive choice for a wide range of spending habits.
However, the card is not without its limitations. The capped rewards on specific categories may be restrictive for high spenders, and the limited redemption options might not appeal to those seeking more flexibility. Additionally, the card’s benefits are primarily geared towards domestic use, making it less suitable for frequent international travelers.
In summary, the Blue Cash Everyday® Card from American Express offers substantial value for everyday spending and is an excellent choice for budget-conscious consumers looking to maximize their rewards without paying an annual fee. As always, it’s essential to assess your spending habits and financial goals to determine if this card aligns with your needs.