here it is guys the American express blue cash preferred card i got my first account statement
first amount of rewards dollars and i want to share with you if this card is worth it or not
can we just start off by saying how like exquisite this card looks i think it looks beautiful just
look at it just an incredible looking card i would say it ranks up there with the beautiful
professional sexy centurion card oh yeah the black card but for what this card is worth i wanted to
focus on getting a cash back rewards card not just your typical everyday card i wanted to get one
that gives you a lot of cash back based on what we were using it for for everyday family purchases
that's what we're going to talk about today I'm going to give you my full review looking at my
rewards dollars right over here and i want to share with you what my first month of rewards
dollars are and break that down for you to see if this card will work best for you by the way if
this is the first time you're at this channel and you've not been here before my name is bob and i
help people live their ultimate suite life through personal finance so if you're into that make sure
you subscribe and oh by the way if you're excited to get started tap that like button down below it
helps the video and i certainly would appreciate it so let's talk about this guys now I'm gonna I'm
gonna cut through the the crap and I'm gonna get right to the point of saying this particular card
comes with an annual fee i am not a big fan of cards that come with an annual fee unless it gives
me the bang for the buck it's not one of those 500 annual fee cards this one carries an annual fee of
95 a year because i don't like annual fees there is a reason i did some calculation i did some math
and i've come to the conclusion that this is actually something that would pay off and be worth
and be justified of the 95 annual fee in this card you get six percent cash back on groceries
so basically any u.s supermarket now that includes things that are specifically supermarkets it does
not include things like walmart target or some of those big box stores this is specific to like
maybe if you live in the south like publix giant super stores Winn-Dixie i don't know i don't drop
your favorite us supermarket down below in the comments just because i can't name all of them
and that way we can validate if it works for this or not I'll reply to each comment and let you know
based on American express's website if it validates that six percent or not
but anyway you get that so if you have a big family i have a family of four and i think
that is where this really can pay off six percent on groceries is a big deal if you're buying a lot
of groceries for your family if you're a single person maybe you are just in college keep that in
mind that this might not pay off as well if you're not going to be taking it specifically for that
purpose now another big reason to get this card if you're a big streamer what i mean by that any
type of streaming service what American express calls select streaming services also come with six
percent cash back let me give you some examples Netflix at&t tv now sling tv Hulu even audible
kind of a nice way to get yourself a six percent discount via cash back on the American express
card do you have a car that's not a tesla well then you'll enjoy the three percent cash back on
gas as well as transportation anytime i travel on the toll roads which in Florida seems to be
every bloody road in the world you get three percent cash back on any tolls that you pay
with the card as well as any gas along the way so i think that's very helpful especially if you
travel a lot a three percent discount essentially be a cash back on any gas that you choose and if
you're smart what i would do is look for the gas companies that give you rewards or a discount
at the pump based on like a loyalty card apply the loyalty card but then pay with the credit
card so you'll get the loyalty points via the gas station you also get the three percent cash
back on the American express blue preferred cash card and that is kind of a cool way
to take advantage of double discounts and then for anything else that you put on the card that isn't
groceries streaming transportation or gas you get one percent cash back so what i want to do is i
want to break down my first month now one cool thing that sometimes gets offered by American
express as they offer you bonuses and benefits when you sign up for this card in the link in the
description below below this video i have a link that will take you over to a special referral page
look for the blue preferred cash card click on it and see what kind of offers they're offering
at the moment now at the recording of this video which may change because they change
up the offer but they're offering 250 back in cash rewards after you spend a thousand dollars
in the first three months in addition they're also offering a zero percent apr for the first
12 months as well and there's other options that they I've seen them offer cash back up to 300
150 I've even seen them waive the first year of the annual fee definitely check the link below
hop over there and see what they're offering at the moment and if you're not ready to get this
card right away but maybe in the future keep an eye on that because once it goes up and maybe
they offer an incredible deal take advantage of it but let's break it down now i did take advantage
of getting a 250 cashback statement because i did spend a thousand dollars in the first month
of owning this credit card but on top of that my first month here it is 52 dollars in rewards and
you'll see on the right hand side this is how it's broken out we have 13 dollars and 44 cents coming
back to us via the u.s supermarkets as i said a family of four you can really rack up very well
if you spend a lot of money on groceries we also have seven dollars and four cents on the streaming
subscriptions we cut cable so we actually have an eight something called att tv now which is
a streaming service very similar to sling tv used to be called directv now that is also included on
top of netflix hulu espn disney plus and all the other different streaming services that we have
yeah we spend way too much money on that stuff but it is nice to get that six percent cash back now
you'll see that with the gas we got two dollars and sixty three cents back with the three percent
dollar 20 that has to do with our tolls and then every other purchase came up to 27.69
so what i also did is i actually put our electric bill our water bill and any type of
natural bill or utility bill whatever on this credit card because i wanted to see
and take advantage of that percentage of cash back especially now that i'm starting with this
card and i'm trying to make sure that i take advantage of getting rid of that annual fee
cost so let's say for example you don't get the reward right away let's say for some reason they
cancel out that 250 reward and you just sign up for the card and all they're offering you
is the cash back which means you're paying 95 up front how soon can you break even well what you
need to do is do a little bit of calculation how much is your groceries how much are those
streaming services and see how many months it would take what i would recommend anything that's
more than a six month break even would make this card completely a waste of money because you want
to make sure you get back that money for the 95 annual fee and then you earn rewards that are
up and beyond that annual fee so as you can see here i have 52 dollars this month and if
you look below there you'll see it says pending rewards dollars of 35.84 so that's for the next
billing cycle so if i add the 52 to the 35 84 that does equal 87.84 which means in the third month
i should break even of the 95 annual fee let alone the fact that i already have because of the 250
bonus reward so is this card right for you do the calculations check out the different things based
on your budget and based on how you spend and make sure that you pay off this card every single month
and if you do that it could be a very beneficial card for the cash back now how you can claim these
rewards you can either let it build up once it hits a 25 threshold or more you can cash it out
in the form of a statement credit now again if you watch that video i have linked up above in the
info card how i do my budget with my credit cards allows me to then do what will look like a deposit
on my transaction register based on the rewards dollars now i have a choice i can cash out that 52
dollars right now and show it in my transaction register as a deposit or i can let it build up
maybe over the next month i don't touch it that fifty two dollars gets added on to the thirty five
dollars and then the next month maybe they'll get another thirty five dollars and then i decide hey
it's been a couple months let me cash out via statement credit a hundred dollars or whatever
that would be if you don't wanna do that you can actually opt to get merchandise cards as well if
you look below here you can get things like the target gift card based on certain thresholds so
if you're into getting those type of benefits you certainly can what i'm doing oh yes i'm going to
be cashing that out via the statement credit every single month so do you already have this card if
so comment below let me know what you think of it other than that i hope this video was helpful if
it was give me a like and also check out the link in the description to make sure that you're taking
advantage of the best referral offer for the blue cash preferred card now what about an alternative
if you don't want to pay the 95 fee you can opt for the american express blue everyday cash
card looks a little bit different but what's nice about this card is it does not have an annual fee
it does give you certain percentages back not as high as the blue cash preferred card you'll get
three percent cash back on u.s supermarkets two percent on gas stations two percent on department
stores and one percent on everything else so that's it for today guys and as always continue
to live your sweet life because you're worth it have an awesome day and we'll see you next time
you