Big Changes Coming to the Amex Blue Cash Preferred? Here’s What We Know
Hey friends, what’s up? Phillip here with Points with Phillip. Today, we’re talking about one of the heavy hitters in the cashback world: the American Express Blue Cash Preferred.
Rumors are swirling that American Express is teasing some massive changes to this card. It’s widely considered one of the best grocery cards in the business, but a recent survey sent to cardholders suggests Amex is looking to "refresh" (and likely raise the price of) this fan favorite.
Let’s break down the current card, the proposed options from the survey, and whether these changes are actually a win for you. But first, don't forget to hit that like and subscribe button!
The Baseline: The Current Blue Cash Preferred
To understand if the new options are good, we have to look at what we have right now:
Annual Fee: $0 intro for the first year, then $95.
6% Cash Back at US Supermarkets (up to $6,000 per year).
6% Cash Back on select US Streaming subscriptions.
3% Cash Back at US Gas Stations and on Transit (including tolls/parking).
The "Disney Bundle" Credit: $7/month ($84/year) statement credit for Disney+, Hulu, or ESPN+.
For many, the Disney credit almost completely wipes out the $95 annual fee, making the 6% grocery rewards pure profit.
The Rumored Options: Credits, Coupons, and Price Hikes
According to Doctor of Credit, Amex is surveying users on three potential paths. The common thread? The annual fee is going up.
Option 1: The "Online Shopper" ($135 AF)
Grocery Cap Increase: 6% back, but the limit moves from $6k to $10k.
New Categories: 3% on Online Retail and 5% back on Expedia (direct).
Credits: $10 monthly Resy credit and an Uber One membership.
Verdict: Better for high spenders who use Resy, but the jump to $135 is steep.
Option 2: The "8% Powerhouse" ($145 AF)
Grocery Boost: A massive 8% cash back (still capped at $6k).
New Categories: 4% on US Wireless (cell phone bill) and 3% on Fast Casual dining.
The "Amex Synergy": Includes a Walmart+ membership and a $25 quarterly credit if you keep $25k in an Amex High Yield Savings Account.
Unique Perk: 10% back at PetSmart.
Verdict: This is the "coupon book" approach. If you already bank with Amex and shop at Walmart, the $100 savings benefit makes this card essentially $45.
Option 3: The "Earning Machine" ($160 AF)
Multipliers: 6% on groceries and streaming; 4% on Transit and Fast Casual; 3% on Gas, Wireless, and Online Retail.
Credits: Monthly PetSmart credits and a "Cloud Storage" credit (think iCloud or Google Photos).
Verdict: This has the strongest earning rates across the board but the highest annual fee.
A Quick Sidebar: My 100lb Weight Loss Journey
Before we finish with Option 3, I want to share something personal. Over the last year and a half, I’ve lost about 100 pounds. While diet and exercise were the foundation, weight loss shots played a huge role in my success.
I know insurance coverage for these is getting harder to find. If you’re looking to start your journey but want to avoid the massive pharmacy markups, check out the link in the description. There are companies competing for your business with much lower prices than the big-name brands. Now, let’s wrap up the Amex talk!
The Big Loser: The Disney Plus Credit?
One glaring omission in all three survey options is the $84 Disney Plus credit. It looks like Amex might be swapping that easy-to-use credit for more "niche" options like PetSmart, Resy, or Cloud Storage.
If the Disney credit disappears and the annual fee jumps to $135 or $160, the "math" for the casual grocery shopper gets a lot harder.
Final Thoughts
Amex is clearly moving the Blue Cash Preferred toward their "coupon book" strategy—higher fees offset by specific monthly credits.
If you’re a high spender who can max out a $10,000 grocery limit or someone who already pays for Walmart+ and iCloud, these changes might actually save you money. But for the person who just wanted 6% back on groceries for a low fee, these changes might be a reason to look at other options.
What do you think? Would you pay $145 for 8% back on groceries? Let me know in the comments!