Breaking Down New “Up To $350 Cash Back” Amex Offer

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Update – this offer is no longer available.

Miles and points are great, but I know some prefer I mean, I don’t think it hurts to love both – especially when you can get a good amount of cash back as a credit card sign-up bonus.

Along those lines, right now through June 15th, both the Blue Cash Everyday and the Blue Cash Everyday Preferred cards have temporarily increased sign-up bonuses, though they may not be exactly as they seem on first glance.

They are advertised as getting up to $300 or $350 cash back, depending on the card, and while that is true, it is a little more complicated than that. First, here are the official offer details, then jump below for a breakdown of what that really means.

Blue Cash Everyday® Card from American Express

Blue Cash Preferred® Card from American Express

Breaking Down New “Up To $350 Cash Back” Amex Offer:


As you will see as you investigate further, the offer for the no-annual-fee Blue Cash Everyday breaks down to $100 statement credit if you make $1,000 or more in purchases within the first 3 months of card membership. Then, you can earn up to an additional bonus $200 cash back via statement credits by earning 10% back on the first $2,000 spent at US wireless telephone service providers through 12/31/2016.

In other words, it is to me a $100 sign-up bonus after hitting the spending requirement and then operates as a 10% cash back card on US wireless telephone charges through the end of the year. That isn’t necessarily bad, but not as good as it appears on first glance.

With the Blue Cash Preferred Card that comes with the $95 annual fee ($75 if application is received by 8/3/16), the offer breaks down to $150 back as a statement credit after you spend $1,000 in the first three months and then again the same up to $200 back in the form of 10% back on the first $2,000 spent at US wireless telephone service providers through 12/31/2016 as with the Everyday version of the card.

This is not the best offer I have seen for either card – and in fact potentially not even the best offer available right now! While these offers aren’t earth-shattering to me, it is still worth understanding how they break down so you can make a decision based on your needs.

Personally, I’ll keep putting my grocery charges on my Amex EveryDay® Preferred Card where I earn up to 4.5x Membership Reward points per dollar at US grocery stores as long as I have 30 or more transactions in a billing cycle – up to the first $6,000 per year. I personally value 4.5x Membership Reward points at more than 6% cash back you get with the Blue Cash Preferred, but both are certainly strong contenders in the grocery category.

Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.

The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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