How do I earn the Blue Cash Preferred welcome bonus?

The Blue Cash Preferred® Card from American Express categories for bonus rewards are groceries, streaming services, transit, and gas. Purchases that fall into the Blue Cash Preferred bonus categories get cardholders extra rewards compared to the card’s base earning rate.

Whether a purchase falls into a card’s bonus categories depends on “… read full answerMerchant Category Codes,” which are assigned by the major credit card networks to merchants based on what kind of business they conduct. So if a merchant has the MCC for “groceries,” for example, purchases made at that merchant will earn bonus rewards on cards that include “groceries” as a bonus category.

When choosing a rewards credit card, it’s a good idea to pick a card that offers the opportunity to earn bonus rewards in your most frequent purchase categories. So if you spend a lot in the categories offered on the Blue Cash Preferred, it may be a good card for you.

There’s no way to know for sure if the Blue Cash Preferred $150 bonus is still available. The $150 bonus used to be an offer for Amex Cash Magnet Card and Amex Blue Cash Everyday cardholders who upgraded to the Blue Cash Preferred. However, there’s no guarantee that this offer still exists or if it’s the same amount.… read full answer

The Blue Cash Preferred’s normal initial bonus is $300 statement credit for spending $3,000 in the first 6 months.

Here’s more info about the Blue Cash Preferred upgrade offer:

• The Blue Cash Preferred $150 bonus was for Amex Cash Magnet Card and Amex Blue Cash Everyday cardholders who upgraded to the Blue Cash Preferred. To qualify, cardholders had to spend $1,000 or more on eligible purchases in the first three months.
• At the moment, the offer you would get depends on several factors such as your credit standing and account history. Sometimes, there are no offers to upgrade.
• To check the current upgrade offer, go to the Blue Cash Preferred’s page and click on the “Request an Upgrade” button. It will take you the application page, where you can see the bonus that is available to you.
• You can also call American Express at (800) 528-4800 to ask whether you qualify for an upgrade offer or not.
• Sometimes, Amex sends offers to eligible cardholders via email or regular mail.

To increase your odds of getting an upgrade offer, make sure your account is in good standing. That means a history of on-time payments and low credit utilization, preferably less than 30 percent of your overall credit limit.

These are the Blue Cash Preferred card's rewards:

Blue Cash Preferred is a great rewards card choice for people who usually spend on groceries, streaming services, transit purchases and gas. It's not for everyone, though, because you need at least good (700+) credit in order to get approved.