Meet Jenny, a 31-year-old nurse from Austin, Texas. She describes herself as a prudent woman who lives a relatively comfortable life. That prudency has made her a mini celebrity in her community where she proved that shopping for groceries can make her more money than investing in bonds. To be fair, bonds were never a money making opportunity for non-billionaires but still — we are comparing spending with investing, with the former getting the upper hand here.
How Jenny Makes More Money From Shopping Than Investing in Bonds?
The trick is to know which credit card to use for which purpose. And when it comes to shopping for groceries, Jenny says her favorite is Blue Cash Preferred® Card from American Express, which offers 6% cash back at U.S. supermarkets. There is a cap at $6,000 per year in purchases, but still… that’s $360 for doing the things she would be doing anyway. Also, with this card, Jenny earns 3% in cash back from purchases at U.S. gas stations and select U.S. department stores, and 1% on other purchases. Overall, she recoups more than $500 every year! And again, we are talking about the stuff she would be buying anyway.
And That’s Not All…
Blue Cash Preferred® Card from American Express also comes with additional benefits that make it an ideal everyday card, but I’ll stop here and let our finance expert kick in from here…
Expert Review: Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express is probably the best card to use for grocery shopping, offering the highest cash back percentage. It is also great for buying gasoline and just about anything else, making it one of very few cards you’ll want to carry in your wallet at all times. Plus, its sign-up bonus makes for a that much sweeter deal, despite the annual fee…
Sign-up bonus: You get $150 back in the form of a statement credit after spending $1,000 in purchases in the first 3 months of opening the account.
APR: 0% introductory APR on purchases and balance transfers for the first 12 months. After that APR goes to anywhere between 13.24% and 23.24%, based on your creditworthiness.
Annual fee: $95. All these benefits gotta cost something.
Shopping benefits: Return Protection, Extended Warranty and Purchase Protection will make sure you more safely spend your hard earned dollars.
Travel perks: These would include Car Rental Loss and Damage Insurance that turn car renting into a care-free experience.
Is This The Card For You?
Simply put, the answer is “YES.” We are not talking about some specialty card only a few will actually benefit from using, but a card that is used for buying everyday items. Along the way, you get a number of goodies and a few travel perks, so the Blue Cash Preferred® Card could be a perfect choice even for folks who don’t like owning (and managing) multiple cards. Also thanks to the lucrative sign-up bonus — and despite the annual fee — this is (or should be) an easy sell. Or so we think.