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NEW American Express Blue Cash Cards

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hirenrp
4/26/11 12:16 PM
Blue Cash Everyday
Get 3% Cash Back at supermarkets, 2% back at gas stations and department stores, and 1% everywhere else.

Blue Cash Preferred $75 AF
Get unlimited Cash Back for all your purchases, including 6% Cash Back at supermarkets, 3% Cash Back at gas stations and department stores, and 1% back everywhere else

Credit CB Forums.
Moderator Comment: This thread had been placed under moderation to keep it on topic. Thanks! — Jun. 13, 2013 @ 3:55pm
WikiPost
4/26/11 12:16 PM
The links in the original post (OP) is no longer working. Here's working links for both cards (includes $100 bonus for Blue Cash Everyday or $150 bonus for Blue Cash Preferred): American Express Blue Cash Cards

Here's the old thread discussing it: http://www.fatwallet.com/forums/finance/100210/?start=0

Check Application Status

Store Category Codes -> this is unreliable since the link is for VISA MMC checker. AMEX has their own. Thanks whoever put this in here though.

Qualified Grocery Stores:
Super WalMart (? variable)
safeway, Belair, Raleys, Vons


Note: A number of Blue Cash Preferred cardholders received Oct 2012 notices that starting at their account renewal date in 2013, the 6% reward on U.S. stand-alone supermarkets applies only to the first $6,000 during each calendar year, after which such purchases earn only 1%.
Blue Cash With Costco Amex FIXED FORMULA [ application/excel - 44.50kB ]
hejustlaughs
4/26/11 12:18 PM
Isn't this worse than the existing Blue Cash?
hejustlaughs
4/26/11 12:26 PM
There is no more mention of 6500 threshold to reach the rewards level but damn I was thinking about getting the Blue card just yesterday too.
TooManyCards
4/26/11 12:31 PM
I was just about to post this myself. Good thing I checked before hitting "Post topic."

No, these cards are better than the "classic" Blue Cash, unless you spend enough above $6500 annually that the 5% rewards on the "classic" card exceed the rewards for the two new cards. The two new cards seem to pay the full Cash Back immediately, with no thresholds or caps.

I'm kind of intrigued by the new cards. I never use my current ("classic") Blue Cash anymore because I don't spend enough above the $6500 threshold every year to make it worth not spending on my other cards, which offer at least 2% Cash Back on everything. But it would be worth getting Blue Cash Everyday just for the 3% Cash Back at supermarkets (except for those quarters where my Citi Dividend Platinum Select or Chase Freedom cards are offering 5% Cash Back in those categories, assuming I stay below their spending caps, which hasn't been a problem so far).

I'm reluctant to get Blue Cash Preferred, simply because spending an annual fee on a credit card is against my religion, and because it's not outside the realm of possibility that AMEX will eventually raise the fee and/or lower or cap the Cash Back, worsening this card's benefit/cost structure. But objectively, doubling my Cash Back on supermarkets relative to the Blue Cash Everyday card isn't bad. In fact, it looks like the break-even for that is $2500 in annual spending at supermarkets, which is $208.33 per month. I spend more than that, so...it's something to consider.
dl73
4/26/11 12:32 PM
The question is if/when the change will take place for existing cardholders?
TooManyCards
4/26/11 12:41 PM
dl73 said:   

The question is if/when the change will take place for existing cardholders?



I've heard nothing from AMEX. It wouldn't be unusual for them to allow existing card holders to simply keep, and continue to use, their cards well into the future.

When I log in to AMEX and take a look at these cards, I have radio boxes that read "Apply Now" for "Blue Cash Everyday" and "Upgrade Now" for "Blue Cash Preferred." I wonder if that means that converting to "Blue Cash Preferred" will allow you to keep your account intact--meaning that they'll still report to the credit bureaus that you've had the card for, say, four years--while "Blue Cash Everyday" would be considered a new card. I'd think twice about applying for Blue Cash Everyday if it's going to hurt my FICO.
VK11
4/26/11 12:47 PM
TooManyCards said:   

dl73 said:   

The question is if/when the change will take place for existing cardholders?



I've heard nothing from AMEX. It wouldn't be unusual for them to allow existing card holders to simply keep, and continue to use, their cards well into the future.

When I log in to AMEX and take a look at these cards, I have radio boxes that read "Apply Now" for "Blue Cash Everyday" and "Upgrade Now" for "Blue Cash Preferred." I wonder if that means that converting to "Blue Cash Preferred" will allow you to keep your account intact--meaning that they'll still report to the credit bureaus that you've had the card for, say, four years--while "Blue Cash Everyday" would be considered a new card. I'd think twice about applying for Blue Cash Everyday if it's going to hurt my FICO.



Others reported on another forum that you can switch from old Blue Cash to those new ones w/o much trouble...I don't think they will force existing cardholders to switch, only if you want to
hejustlaughs
4/26/11 12:53 PM
New cards are better for the general populace that didn't spend above $6,500 to reach the 5% rewards level.

If you're a FWF person the $6,500 spending threshold should take you a month to attain.
VagrTiger
4/26/11 1:00 PM
hejustlaughs said:   

New cards are better for the general populace that didn't spend above $6,500 to reach the 5% rewards level.

If you're a FWF person the $6,500 spending threshold should take you a month to attain.



and $130 lost in 2% CashBack. It means that your grocery purchases should top $13,000 per year (or $1083 per month) in order for the old card to be better than the new card. Most FWF people spend less than $1000 in supermarkets.
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