okay look here this isn't your average blue cash preferred review I'm actually going to go a little
bit further than that I'm going to take you behind the scenes show you my results and actually give
you a free tool that you can see if this card is worth it for you or not so if you're ready to get
started let's get right down to it now I have used this American Express Blue Cash Preferred Card for
the last two years and I actually right here it is my actual reward dollar as of today as of the
recording of this video at 721 so I've racked up 721 dollars that we can use for practically
whatever we want that could be for Christmas gifts that could be if you're going on a cruise or you
know whatever we really want that's the beauty of it first things first let me break down my
results of this 721 we are a family of four and as a result we spend a lot of money on various
different things especially groceries tap the like button if you agree you feel me the groceries are
getting way too expensive but that's the beauty of this particular card because this card offers
a six percent cash back on groceries and a six percent cash back back on streaming services
so if you're somebody that you know gets a lot of groceries and you watch a lot of streaming
services this could be a very very interesting card let me break it down and explain the details
right here you can see U.S supermarkets in this year alone I've made 335.80 now I will tell you
one very important thing about the supermarkets is there's a two-prong catch here number one
you will only get the six percent cash back up to six thousand dollars per year it'll reset January
1st of every year but if you max out and you spend more than six thousand it's only going to give you
the six percent up to six thousand and then one percent cash back every dollar over six thousand
dollars that you spend thing number two on this particular category is that it only works for US
supermarkets and how they Define that is a grocery store we're not talking about big box stores like
Walmart Target BJ's Costco we're talking about your everyday actual grocery stores now they
have an entire list they that they provide that tells you what and what does not equal
the six percent cash back now what doesn't have a limit at all is the streaming services you get
six percent cash back unlimited throughout the entire year no matter how much you spend so if
you're somebody that goes crazy with Netflix and Hulu and Disney plus and Paramount plus and you
know whatever freaking streaming service we can come up with next you're gonna get six percent
cash back so that is kind of a cool deal Transit and gas are another big one gas three percent cash
back and transit three percent cash back now what that means of course gas stations that's
unlimited throughout the entire year no matter how much you fill up on gas you're going to get
three percent cash back and as gas prices rise that can come in quite handy that means anything
from Uber to parking tickets to anything that's related to getting you from point A to point B
even tolls even tolls on a Turnpike qualifies for three percent cash back and then beyond all this
you also have one percent cash back on everything else so that isn't represented here but if you're
doing the math right now you might be like hmm all of this right here does not equal to 721 dollars
but keep in mind we do use our card for the one percent cash back and there's actually bonuses
to sign up for it if you decide to get this card what I would recommend that you do is go into your
account every single month and check through all of the available offers because not only are you
gonna get your six percent cash back and three percent and all that kind of stuff you're also
gonna get bonuses from time to time look through all of this for example you can see if you spend
15 or more you're gonna get five dollars cash back up to two times for McDonald's uh kroger
Levi's there's actually over a hundred different offers that expire at various times throughout
the month and the months ahead now right now I've actually added a couple to my card uh Miller's Ale
House ABC Fine Wine and Liquor because why not and uh Turbo Tax because tax season is coming so you
can see that they offer these type of things so what I do when in doubt just add it to the card
there's nothing that charges you for adding these offer to your card so go through them every month
add what you think you might get and you'll get that on top of your rewards benefits but here's
the thing I was thinking about what we do is we don't actually just put random crap on the credit
card we only buy things that we're actually going to spend money on anyway in our budget so you
know you need groceries you need gas there's no way around it and instead of using a debit card
and just swiping that and paying that because it comes out of your checking account we put
it on the American Express card and then pay the bill off in full every single month now of course
American Express doesn't really like that because I'd like to charge you some interest for holding
the balance over a couple months but we don't let them get away with that instead we pay it
off in full and we harness the benefits of the reward offers now here's the trick though this
card Blue Cash preferred actually comes with an annual fee of 95 now in the world of Annual fees
on a credit card this is actually the one of the least expensive Annual fees but if you're like me
you're not a big fan of Annual fees on credit cards so you might be wondering well first of
all why do I have this card and second of all uh how did I get away with the annual fee well
there's two things number one if you decide to get this card using the link in the description
below you and I will both get a bonus here's your bonus right now as of the recording of this video
they're actually going to waive the annual fee for the first year so it's zero dollars intro annual
fee and then next year 95 every year thereafter not only that you're going to get a low intro
APR and 300 additional cash back that's if you decide to spend three thousand dollars or more
in the first six months of your membership now if you're somebody that spends money you have a
decent sized budget and instead of putting on a debit card you put it on this you'll reach out
three thousand dollars most likely very quickly and therefore earn that 300 extra cash back so use
the link down in the description below it'll also give you more details that you can look through
if you wish to do so ninety five dollars if you really do the math on this ninety five dollars
annual fee if you think about the six percent cash back here's a big question for you do you spend at
least 32 dollars a week on grocery trees I think most people that are watching this video probably
say yeah I do spend at least 32 dollars per week on groceries and even though you might not spend
it every single week I mean if you think about it over the course of the month you're probably
average out to about 32 dollars a week well that alone just 32 a week equals 95 dollars per year
in cash back therefore paying for the annual fee on the credit card so if you spend anything more
than 32 or 33 or more you're making some extra cash back and covering the annual fee but here's
where the rubber meets the road is it actually worth it for you to consider this card or another
alternative here's where the free tool comes in I'm going to link it down below so you can check
it out for yourself when you click on it it's going to ask you to make a copy you got to have
a Google account so make sure you sign up for a Google account that's perfectly free to use and
then make a copy and then you can plug in your own numbers or you can download it as an Excel
template if you'd rather use Excel instead of Google Sheets but right here it is this is what
I created the AmEx Blue Cash Preferred Credit Card is it worth it sheet it's the only thing
you've got to worry about in this calculation is this line right here where it says enter numbers
this little like semi light blue column right here that's what we're going to fill out so what
I need you to do is look at your budget figure out how much money you're spending every month
on groceries your streaming services your gas for your vehicles any type of Transit if you have any
and all other monthly costs that you might use your MX card for then what you're going to do is
just simply type this in to the formula now right now I've already pre-filled it with 133 dollars
on a monthly grocery spin which means right there you got your annual fee already covered and then
on top of that you got some streaming services gas Transit and other monthly which means your
potential yearly cash back comes in at 257 dollars but I want to be a little bit more realistic than
that personally get ready don't judge me but we spend like what four about twelve hundred
dollars per month on groceries groceries have become so expensive which is why I think the six
percent cash back is so awesome so if I type in 12 hundred dollars per month it'll automatically
calculate now I will tell you as you can see in this row only it does have a maximum as located
right here it only is going to give you three six percent cash back on up to six thousand dollars so
the difference here would be one percent cash back which actually is not calculated into this formula
so that's actually money that's cherry on top and what we have in the grocery category in streaming
services I think we have like Netflix one in 10 20 30 40 50 60 maybe 60 dollars so we're not too far
off of the 50 but we'll get forty three dollars back there gas is so much more expensive we're
spending probably about maybe um 250 a month on gas between the two cars that's ninety dollars
cash back uh monthly Transit we actually don't spend any money I don't think on monthly Transit
so we will lose on that category and then other monthly costs we use this card for just about
everything that we do not always the smartest thing I would look around for maybe different
offers based on what you're using it for so for example if there's a restaurant response that
pay a higher cash back on a different credit card I would opt to use that credit card over
the AmEx just so you can get a higher cash back versus the AmEx card but if you'd rather not mess
around with multiple credit cards put it all on here in which case we would be spending probably
about fifteen hundred dollars a month in all other random costs giving us right about 180 per year
and that's not far off to that 721 dollars that I mentioned a little bit earlier that I have right
now on my balance so 673 dollars and that's for our everyday expenses nothing frivolous nothing
above and beyond why not give yourself a year in bonus by just spending money that you were going
to spend anyway that's the beauty of the MX Blue cash before you so hop over to this plug in your
numbers just to make sure it's actually worth it because let's say you're a college kid and
you're only spending like 20 a month on groceries uh you have no streaming services maybe you spend
like fifty dollars a month on gas uh you know and you don't really spend anything else you're just
like a poor college kid this would not be worth it for you because as you can see you're only going
to make 32 dollars and then you got to subtract down the 95 annual fee after year number two and
that would actually put you in the negative you'd be spending money to have this card totally not
worth it for you so I would employ you to check this out just to make sure that you're gonna get
some bang for your buck of that 95 annual fee so if this video was helpful make sure you drop me a
like check out this video next on how you can make sure you never ever ever hold debt and have to pay
interest there's a special way I do that in this video up here and we'll see you on the next video