The American Express Blue Cash Preferred card is offering a $300 welcome bonus, and it's a great choice if you spend a lot on groceries

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  • There’s a new, elevated welcome bonus on the Blue Cash Preferred® Card from American Express.
  • You can earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
  • The card is an excellent choice if you spend a lot on groceries, streaming services, or commuting.
  • Read Insider’s guide to the best American Express cards.

Most of us are spending more on groceries through the pandemic, so using a credit card that earns bonus rewards at the supermarket is even more important these days.

There’s now an increased bonus to consider on one of our favorite cards for grocery spending: The Blue Cash Preferred® Card from American Express is offering a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.

It’s a great pick if you prefer earning cash back, because the card earns 6% back at U.S. supermarkets on up to $6,000 in spending per calendar year (then 1%). You’ll also earn 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and on transit (including taxis, rideshares, parking, tolls, trains, and buses), and 1% cash back on everything else.

If you max out the $6,000 limit at U.S. supermarkets, you could earn $360 in cash back each year just from that category alone — that’s more than enough to offset the annual fee of $95 (waived the first year) (See Rates).

We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Blue Cash Preferred® Card from American Express

American Express Blue Cash Preferred® Card from American Express

The Blue Cash Preferred® Card from American Express also comes with shopping and travel benefits, including purchase protection, return protection, extended warranty, and car rental insurance.

New cardholders can also take advantage of an introductory 0% APR on purchases for the first 12 months (then a 13.99% to 23.99% variable APR). That’s useful if you have large expenses coming up that you want to pay off over time without accruing lots of interest — just be sure you can pay off the balance before the intro APR period expires.

If you’re considering the Blue Cash Preferred® Card from American Express, be sure to have a look at other cash-back credit cards, like the Chase Freedom Unlimited® or Capital One® Savor® Cash Rewards Credit Card, which also offer substantial welcome bonuses and different bonus categories that might be a better fit for your spending habits.

Alternatives to the Amex Blue Cash Preferred

Two other Amex cards, The Platinum Card® from American Express and American Express® Gold Card , are also terrific choices if you’re looking for a card with an elevated welcome bonus.

With the Amex Platinum Card, you’ll earn a bonus of 75,000 points after you spend at least $5,000 in your first 6 months of account opening. Plus, new cardholders can earn 10x points at US supermarkets and US gas stations on up to $15,000 in combined spending (then 1x) in the first six months of account opening. If you spend a lot on groceries and gas, the new cardholder 10x bonus could be much more lucrative than the earning rates on the Blue Cash Preferred® Card from American Express.

Quick tip: These cards earn American Express Membership Rewards points, and while you’ll typically get the most value when you redeem for travel, there are also options to cash in your points for statement credits, gift cards, merchandise, and more.

Meanwhile, the American Express® Gold Card is also a good pick for grocery shoppers, with a bonus of 60,000 points after you spend at least $4,000 in your first 6 months of account opening, 4x points on up to $25,000 spent at US supermarkets each calendar year (then 1x), and 4x on dining worldwide. If you prefer the flexibility of Amex Membership Rewards points, the American Express® Gold Card could also be a better deal for you.

Jasmin Baron is an associate editor at Personal Finance Insider, where she helps readers maximize rewards and find the best credit cards to fit their lifestyles.

Citi Citi® / AAdvantage® Platinum Select® World Elite Mastercard®Chase Marriott Bonvoy Boundless™ Credit CardChase Chase Freedom Unlimited®

For rates and fees of The Platinum Card® from American Express, please click here.

For rates and fees of The Platinum Card® from American Express, please click here.

For rates and fees of The Platinum Card® from American Express, please click here.

For rates and fees of the American Express® Gold Card, please click here.

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