Amex EveryDay Preferred vs. Blue Cash Preferred: Are you after rewards points or cashback?

American Express offers a wide variety of rewards credit cards, from cash-back options to premium selections featuring benefits like airport lounge access and annual travel statement credits.

Nestled among the options are the Blue Cash Preferred® Card from American Express and the Amex EveryDay Preferred® Credit Card from American Express.

The Blue Cash Preferred earns cashback ranging from 1% to 6% on purchases, while the Amex EveryDay Preferred accumulates Membership Rewards points, which can be transferred to over 20 airline and hotel partners. Cashback is given as Reward Dollars that can be redeemed as a statement credit on Amazon.com at checkout.

With comparable annual fees, welcome bonuses, and earning potential, you might find yourself torn between these two cards. The good news? You can’t go wrong; it’s all about whether you prefer a cashback card or one that generates transferable points to match your rewards strategy.

Here’s how the two cards stack up against each other.

The details for the Amex EveryDay Preferred Credit Card have been gathered independently by Dinogo. The information provided on this page has not been verified or endorsed by the card issuer.

Comparison of Amex EveryDay Preferred vs. Amex Blue Cash Preferred

The information for The Amex EveryDay® Preferred Credit Card from American Express has been compiled independently by Dinogo. The details on this page have not been reviewed or provided by the card issuer.

Now, let’s dive into the specifics of each card and their unique benefits.

Welcome offer comparison: Amex EveryDay Preferred vs. Amex Blue Cash Preferred

Let’s explore the first key difference between these cards.

New Blue Cash Preferred cardholders can receive a $250 statement credit after making $3,000 in qualifying purchases with their new card during the first six months.

Currently, the welcome offer for the Amex EveryDay Preferred provides 15,000 American Express Membership Rewards points after spending $2,000 on eligible purchases within the first six months of account opening. These points are fully transferable Amex Membership Rewards points, valued by TPG at 2 cents each, making the bonus points worth approximately $300.

Winner: EveryDay Preferred. Its bonus holds slightly greater value than that of the Blue Cash Preferred.

Benefits of Amex EveryDay Preferred vs. Amex Blue Cash Preferred

While neither card is overloaded with benefits, they do offer some notable features.

Both cards include secondary car rental insurance,* return protection,** purchase protection,** extended warranty,** and access to Amex Offers for discounts, along with complimentary ShopRunner membership.

With the Blue Cash Preferred, you can earn up to $84 each year ($7/month) in statement credits for eligible subscriptions (subject to auto-renewal) like Disney+, ESPN+, or Hulu. Enrollment is required.

Unfortunately, both cards impose foreign transaction fees of 2.7% (see rates and fees for the Blue Cash Preferred).

Winner: Blue Cash Preferred, thanks to its more extensive range of perks.

**Eligibility and benefit levels vary by card. Terms, conditions, and limitations apply. Visit americanexpress.com/benefitsguide for further information. Policies are underwritten by AMEX Assurance Company.

Earning rewards: Amex EveryDay Preferred vs. Amex Blue Cash Preferred

In the realm of cash-back credit cards, the Blue Cash Preferred stands out as a top performer. This card earns multiple percentage points across various categories, including:

• 6% cash back at U.S. supermarkets (on up to $6,000 per calendar year; then 1%)
• 6% cash back on U.S. streaming subscriptions
• 3% cash back on transit (including parking, tolls, ride-hailing, and subway)
• 3% cash back at U.S. gas stations
• 1% cash back on all other purchases
• Cash back is provided as Reward Dollars that can be redeemed as a statement credit or during checkout on Amazon.com.

Two key points to note about this earning structure: Firstly, it encompasses a broad range of bonus-eligible categories where consumers typically spend significantly, such as supermarkets and gas stations, which can quickly accumulate statement credits.

Secondly, earning 6% cash back, even in a single category, offers an exceptional rate of return. While you might not see substantial rewards from streaming services unless you subscribe to many, maximizing the grocery bonus could yield up to $360 cash back annually.

The Amex EveryDay Preferred also provides appealing bonus earning opportunities. This card gathers 3 Membership Rewards points per dollar spent at supermarkets, up to $6,000 annually, and 2 points per dollar at gas stations with no limit, plus 1 point per dollar on all other eligible purchases.

Moreover, if you make 30 purchases or more in a billing cycle, you receive a 50% points bonus. This can boost your earnings to 4.5 points per dollar at supermarkets and 3 points per dollar at gas stations. Since these are full Membership Rewards points, we estimate these rates translate to a 6%-9.5% return on spending in the bonus categories and 3% on everyday purchases. However, the actual value you gain from your Membership Rewards points will ultimately depend on how you choose to redeem them.

Winner: Amex EveryDay Preferred, due to its impressive earning rates and the worth of Amex points.

Reward redemption options with the Amex EveryDay Preferred vs. Amex Blue Cash Preferred

With the Blue Cash Preferred Card, you can redeem your rewards for cash back (with no minimum redemption requirement) in one of three different ways:

• Get a statement credit.
• Redeem for gift cards.
• Use your rewards for shopping.

Typically, the best approach is to redeem for a statement credit, as this allows you to purchase gift cards with your credit card, earn additional cash back on those transactions, and then use your points to offset those purchases.

With the Amex EveryDay Preferred, you earn American Express Membership Rewards points that can be transferred to airline and hotel partners.

You can also redeem your points directly for cash back, though this option is generally not very favorable. For flights booked through AmexTravel.com, you’ll receive 1 cent per point, but only 0.7 cents for other bookings like hotels and car rentals. For statement credits against purchases, the rate drops to 0.6 cents per point and about 0.7 cents per point for purchases on Amazon.com.

Winner: Amex EveryDay Preferred. While the Blue Cash Preferred excels in cash back, the ability to transfer your points to airline and hotel partners or book directly through Amex Travel makes Membership Rewards points incredibly valuable.

Reward transfers with the Amex EveryDay Preferred vs. Amex Blue Cash Preferred

Cashback earned on the Amex Blue Cash Preferred cannot be transferred.

The highest value from the points you earn with the EveryDay Preferred comes from converting your Amex points into the rewards currency of Amex's 21 airline or hotel partners, including Air Canada Aeroplan, Air France-KLM Flying Blue, and Virgin Atlantic Flying Club.

TPG's managing editor for credit cards, Matt Moffitt, prefers to utilize his Amex points during special transfer bonus events to secure long-haul business-class flights.

Winner: Amex EveryDay Preferred. It offers a significantly wider range of redemption options.

Should I choose the Amex EveryDay Preferred or the Amex Blue Cash Preferred?

The Blue Cash Preferred is among the top cash-back credit cards from any issuer, boasting impressive earn rates at supermarkets and on streaming services, all for a reasonable annual fee. However, if you're seeking a card that provides transferable points and better bonus earning potential, the Amex EveryDay Preferred is the superior option.

Final thoughts

The Amex EveryDay Preferred and the Blue Cash Preferred both offer significant value, whether you’re a frequent traveler or someone who favors cash back. They feature comparable annual fees, welcome bonuses, and earning structures, along with similar benefits.

The right card for you depends on how you intend to use your rewards. If you’re looking to earn both cash back and Amex points, either card could be a good fit for your wallet.

Check out our comprehensive reviews of the Amex EveryDay and the Blue Cash Preferred.