Rebuilding your credit score and finding the right credit card for you can be an emotional process.
Thanks to popular advertising in magazines, TV shows, and popular lyrics, it’s tempting to reach for big brand names just because you want to keep up appearances.
Often times, it’s hard to make the best decision for your money when it feels like your pride and self-esteem are hanging in the balance.
Today we’re going to be looking at the American Express Blue card to see if the cost and benefits are worth the American Express membership.
American Express is known as one of the most coveted and exclusive card memberships in the world. But is this new entry-level credit card they offer worth the hype?
Read on to learn the pros and cons of Blue from American Express.
To be clear, this review is about the Blue card from American Express and not the Blue Cash Everyday Card by the same company.
Just so you understand how many similar sounding cards there are offered by Amex:
Blue Cash Everyday Card by American Express
Helps you earn 3% cash back at most US supermarkets, 2% at gas stations and select department stores, and 1% cash back everywhere else.
Blue Cash Everyday Preferred Card by American Express
Helps you earn 6% cash back at US supermarkets, 3% at gas stations and department stores, and 1% cash back everywhere else.
American Express Blue Sky
Includes no annual fee and earns you 1 Membership Rewards(R) point per dollar purchased anywhere. For every 7,500 points you earn, you can redeem a $100 gift card to put toward any travel expenses. This includes renting a car, booking a plane ticket, or the cost of hotel rooms.
The Amex Everyday Credit Card by American Express
Earn one Membership Rewards(R) point for every dollar spent. Shopping at a supermarket earns you two points per dollar, and if you make 20 purchases in the same billing period, you get 20% more points for all of those purchases.
Blue from American Express
The card we will be reviewing today!
Here are all the most important features to know about Blue from American Express:
- Request Form Difficulty – Entry Level
- No Annual Fee
- Purchase APR – 15.24%, 18.24% or 20.24% Variable
- Earn 1X Membership Rewards(R) point for every eligible dollar you spend
- Earn 2X Membership Rewards(R) points for purchasing with Uber and travel bookings made through the Amex Travel website
- Free ShopRunner Membership
- Online Year-End Summary of Purchases
Instead of any cash back, the American Express Blue card earns you Membership Reward Points.
As with most Amex cards, these points can be used to pay towards your existing balance, transferred to another Amex card of your choice, exchanged for gift cards to your favorite stores, or used to buy goods and services from American Express’ long list of partners.
As impressive as the American Express brand name is, you’ll notice this card doesn’t actually offer much in terms of benefits.
Compared to other cards that reward spending at most US gas stations and grocery stores, the reward potential with this card is very low. Similar cards from other banks, that are easier to request credit lines from, offer as much as 3-5% cash back or point rewards.
It’s safe to say the American Express Blue card doesn’t offer anything outside of the basic Amex Membership benefits and federally mandated minimum rewards.
When picking a credit card, it’s not enough just to ask whether or not you’ll be approved. Based on what we’ve covered so far, it should be obvious your unique lifestyle makes a huge impact on what you look for in credit rewards.
Blue from American Express is an excellent first Amex card for anyone eager to gain access to exclusive member benefits.
If you use Uber often and intend to stockpile reward points until you can request a different American Express card, the Blue card is perfect. If approved, you’d be able to keep all your accrued reward points and transfer them over to your new card.
Thankfully, Amex rewards don’t ever expire.
If you’re looking to become a first time member of the most well known and exclusive credit provider in the world, fill out a request form for the Blue card.
If you qualify for another American Express card and would prefer more rewards, don’t get this card.
American Express is famous for star quality customer service. They market themselves as a high-end, exclusive credit membership and make their application process strict to emphasize this.
Although getting an American Express Blue card would qualify you to reap the many exclusive benefits of being an Amex member, there isn’t much else the Blue card offers.
Compared to other cards offered by Amex, the Blue card does not offer much more in terms of benefits than federally mandated. The 1% rewards on most purchases and 2% rewards for buying with Uber and amextravel.com sounds like peanuts compared to just about any other card offered by Amex.
If you’re anxious to get any American Express card you can, and you don’t qualify for other cards they offer, American Express Blue would be a good fit.
It’s in your best interest to avoid getting this card if you are interested in earning cash back, or at least 2X rewards on most purchases.
There are thousands of banks offering credit cards, and even more credit card options to chose from. The American Express Blue is a good entry level card for someone looking to become an Amex member for the first time.
This card is not good for anyone interested in a credit card for the cash back or significant reward points.
American Express Blue only offers reward points, no cash back. With this card, the purchaser gets 1% of every dollar spent in reward points. This increases to 2% rewards if you are paying for a service from Uber or through the American Express travel site.
Want to learn more about cards from Amex, like the famous American Express Black Card?
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Whether you’re anxious about your bad credit, looking for a payday loan, or need to consolidate debt, experts at Bonsai Finance will help you find a great solution.