American Express Blue Card: A Tasteful Temptation   Leave a comment

The Blue Cash Card from American Express just got a little tastier. If you use the card to buy your groceries, you may get one of the best credit card offers for grocers around. Out of all cards, this one provides the highest rebates in the industry at 6%.

 With the Blue Cash Card, you earn cash from each item that you purchase. Over the years, your purchases add up, and you become eligible for hundreds of dollars in cash back rewards. You also get reward money for making automatic bill payments for insurance, your phone and other expenses. Other added benefits include extended one-year warranties on items purchased with the card and automatic travel protection. These cards are ideal for people with families, particularly those that spend a lot of money on food or their cars. You can add your family members to your account to increase your cash-back potential.

American Express has recently tweaked the rewards formula for their Preferred card by adding a $75 annual fee. In return, the company now gives the 6% back on groceries and 3% back on gas and department store purchases. If you don’t like the annual fee, you can use the Everyday card, but will only get 3% back on groceries and 2% back for gas and department store purchases.

Heavy spenders liked the old card. If your spending exceeded $6,500, you received 5% on all gas, grocery and drug store purchases. Having its current customers in mind, American Express has allowed those who already hold the Blue Cash Card to continue with the previous terms; the Everyday and Preferred cards are for new customers.

 The largest change to the Blue Cash Card occurred with rewards in gas prices. With the old card, American Express took a risk with the 5% back incentives. With the previous terms, the company was susceptible to changes in gas prices. The new card terms create a measure of protection for the company during continued turmoil in the Middle East. While many benefits exist for the Blue Cash American Express Credit Card, you may deal with some drawbacks that could leave you feeling blue. For starters, the card is only available for those with excellent credit. Interest rates on the card are steep; the lowest rate is prime plus 13.99%, but the variable APR is between 17.24% and 21.24%, depending on your credit score. The card does not permit balance transfers and customers must immediately pay off their interest payments; with many other cards, customers have an interest-free period of 3 to 6 months. Are you tempted yet by the Blue Cash Cards? If played right, you may earn some extra cash, which is never a bad thing in today’s economic times.

Read more: http://www.businessinsider.com/american-express-blue-card-a-tasteful-temptation-2011-5#ixzz1Mpc06Yvu

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Posted May 19, 2011 by ilanamelissagreene in Uncategorized

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