A rose may be a rose by any name, but when it comes to cash rebate cards, a cash back credit card is not a cash back credit card, at all. They differ widely in just about every conceivable way: Some are bland and uninteresting, some are completely overpriced and some have prickly thorns hidden in the rich green foliage.
There are a couple of things you simply have to ask yourself when shopping for cash rebate credit card:
* What is the APR on purchases?
* What is the annual fee?
* Are there any introductory offers?
* What is the balance transfer rate?
* What are the restrictions on the cash rebates:
o Is there a hurdle to entry?
o Is there a ceiling?
o Is there a limitation on where I have to shop to earn cash back rewards?
o Will my earnings reduce when I reach a specific point?
* Are there any ancillary benefits associated with the card?
When you start asking these questions, don’t be too surprised if the American Express Blue Cash credit card comes up either ahead of the pack or, at the very least, in the leading group. This credit card company has been working hard to ensure that holders of their American Express Blue Cash credit card receive the best of the best, and then some.
American Express Blue Cash Reward Categories
The cash back rewards offered through the American Express Blue Cash credit card is generous. Like its competitors, the American Express Blue Cash credit card differentiates between purchase types: Everyday Purchases and Other Purchases. Everyday Purchases encompass those purchases you make with your American Express Blue Cash credit card at supermarkets, gas stations and drugstores. Other Purchases cover pretty much everything else.
Unlike many of its competitors, the American Express Blue Cash credit card offers cash rebates in both of their purchase categories: In the Everyday Purchases category, you receive up to 5% bonus cash back when you swipe your American Express Blue Cash credit card and in the Other Purchases category, your receive up to 1.5% per transaction. There is no such thing as a minimum spending requirement and there is no such thing as a maximum earnings ceiling. You earn from day one, even on certain bill payments. The only exclusion is cash and cash related transactions.
American Express Blue Cash Reward Structure
The American Express Blue Cash rebate is calculated on an annual basis. If you spend $ 6,500 or less per year, the rates will be 1% for Everyday Purchases and 0.5% for Other Purchases. If you spend more than $ 6500 per year, your rebate will be 5% for Everyday Purchases and 1.5% on Other Purchases.
American Express Blue Cash Salient Features in a nutshell
* The American Express Blue Cash credit card charges no annual fee. It offers a 6-month 0% introductory APR on purchases, an ongoing purchase APR of 13.24%, and a balance transfer rate of 4.99% for the life of the balance transferred to your American Express Blue Cash credit card.
* As a holder of the American Express Blue Cash credit card, you also gain access to special travel related offers, discounts on a variety of branded merchandise, insurance, fraud protection, the 24/7 Global Assist program and Buyer’s protection, amongst others.