Applying for the Blue Cash Preferred does not cost anything as there is no application fee.
The Blue Cash Preferred does charge an annual fee of $0 intro 1st yr, $95 after, though. But its rewards have the potential to offset this cost. You earn great everyday spending rewards: 6% cash back at U.S. supermarkets (up to $6,000 spent per year), 6% back on select U.S. streaming subscriptions, 3% back at U.S. gas stations and on transit, and 1% back on all other purchases, earned as statement credits. Plus, the Blue Cash Preferred offers $300 statement credit for spending $3,000 in the first 6 months.
The Blue Cash Preferred makes for a good financing option as well. It offers an introductory purchase APR of 0% for 12 months (13.99% - 23.99% (V), based on the specifics of your credit, thereafter). So if you plan on financing a big purchase and pay it off by the end of the introductory period, you’ll avoid paying interest.
So applying for the Blue Cash Preferred won’t cost you anything. Just bear in mind that you need good credit or better (a credit score of 700+) for approval. You can check your credit score for free, right here on WalletHub. You can also check for pre-qualification on Amex’s dedicated web page. Unlike an actual application, checking for pre-qualification, does not hurt your credit score, as it is only based on a soft inquiry on your credit report.
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