I Tried Both Amex Platinum and Blue Cash Preferred: Here’s My Verdict
You’re in the market for a credit card, but the options seem endless. Two major contenders are the Amex Platinum and the Blue Cash Preferred. Which one is right for you? Let’s break them down so you can swipe with confidence.
| Feature | Amex Platinum | Blue Cash Preferred |
|---|---|---|
| Annual Fee | $695 | $95 (waived first year) |
| Travel Rewards | ✓ (5x on flights) | ✗ |
| Cash Back on Groceries | ✗ | 6% (up to $6,000/year) |
| Airport Lounge Access | ✓ | ✗ |
| Streaming Services | ✗ | 6% Cash Back |
| Foreign Transaction Fees | ✗ | ✓ 2.7% |
✅ amex platinum Pros
- Exceptional travel rewards
- Access to over 1,300 airport lounges worldwide
- Comprehensive travel insurance and benefits
❌ amex platinum Cons
- High annual fee
- Limited cash back options
- Overkill if you don’t travel frequently
✅ blue cash preferred Pros
- High cash back on groceries and streaming
- Low annual fee, waived first year
- Ideal for everyday spending
❌ blue cash preferred Cons
- Not great for travel rewards
- Foreign transaction fees
- Cash back cap on groceries
Performance in Travel Rewards
The Amex Platinum card is a powerhouse for travelers. You get 5x points on flights booked directly with airlines or through Amex Travel. This can add up fast if you’re a frequent flyer. Plus, the card grants you access to over 1,300 airport lounges worldwide, including the luxurious Centurion Lounges. In comparison, the Blue Cash Preferred doesn’t offer travel rewards, and if you’re planning to rack up points for trips, it’s simply not the right tool for the job.
Cash Back on Everyday Spending
The Blue Cash Preferred excels in the realm of everyday spending, particularly if you’re the sort who often finds themselves at the grocery store or watching Netflix. With 6% cash back on groceries up to $6,000 per year and 6% on select streaming services, the savings can be substantial. The Amex Platinum can’t compete here; its rewards structure is skewed heavily towards travel, leaving everyday purchases relatively unrewarded.
Value Proposition
When you weigh the costs, the Blue Cash Preferred is a winner for budget-conscious users. The $95 annual fee is waived in the first year, making it an easy choice for those unsure about committing. The Amex Platinum, on the other hand, demands a hefty $695 annual fee. You need to leverage all its travel perks to justify the cost. If you don’t maximize the travel benefits, you’ll end up overpaying for features you barely use.
Watch out for the Amex Platinum’s allure if you’re not a frequent traveler. The perks sound enticing, but they gather dust if you’re not jet-setting regularly. Meanwhile, the Blue Cash Preferred’s grocery cash back cap can sneak up on families who spend big on groceries annually.
Our Final Verdict: Which One Should You Buy?
Go for the Amex Platinum if you travel frequently and can utilize its lounge access and flight rewards. It’s perfect for jet-setters who want luxury and convenience at airports. On the other hand, if your expenses are more grounded with groceries, streaming, and everyday buys, the Blue Cash Preferred is your go-to. It’s ideal for families and homebodies who want to maximize savings on daily expenses without the hefty fee.
Is the Amex Platinum worth the high annual fee?
If you travel often and utilize the lounge access, 5x flight rewards, and other travel perks, it can be worth the investment. Otherwise, it may be overkill.
Can the Blue Cash Preferred’s cash back categories really save me money?
Yes, especially if you spend heavily on groceries and streaming services. Just be mindful of the $6,000 annual cap on grocery cash back.
Do these cards offer any sign-up bonuses?
Both cards often have sign-up bonuses, but they vary frequently. It’s best to check the current offers from Amex directly when applying.
