Having a large family means everything is bigger—from the family home to the family car and, of course, the family budget. If you are managing a budget for your large family, you are always looking for ways to save and manage money. That’s where a rewards credit card could come in.
With many respectable cash back cards out there, it can make a lot of sense to tap a card like the Blue Cash Preferred® Card from American Express, for assistance. With one of the highest cash back rates on U.S. supermarket purchases plus cash back on a number of other common family spending categories, now would be a good time to see if this card is right for your big family.
Blue Cash Preferred card details
- Rewards rate: 6 percent cash back on U.S. supermarket purchases (up to $6,000 per year, then 1 percent); 6 percent back on select U.S. streaming subscriptions; 3 percent cash back on transit; 3 percent back on U.S. gas station purchases; 1 percent back on all other purchases
- Welcome offer: Earn a $300 statement credit after you spend $3,000 in purchases on your new card within the first six months
- Annual fee: $0 introductory annual fee for the first year, then $95
- Purchase intro APR: 0 percent for 12 months
- Balance transfer intro APR: N/A
- Regular APR: 13.99 percent to 23.99 percent variable
Unlike rotating bonus category cards that require you to activate your spending categories to earn rewards, this card does all work for you. You simply swipe your card on purchases to rack up cash back.
Earning 6 percent back at U.S. supermarkets (on up to $6,000 per year, then 1 percent) can mean huge savings for large families with substantial spending on groceries. The 3 percent back on U.S. gas station purchases can also be helpful for busy families that fuel up often for bigger vehicles. Adding streaming and transit to the mix, plus the 1 percent back on all purchases, also opens up increased earning opportunities.
Unlike other reward cards, you cannot redeem your cash back as a direct deposit or check. Instead, you’ll redeem your “Rewards Dollars” for a statement credit, gift cards ($25 minimum) or merchandise.
Another benefit of this card is the sign-up bonus. You can earn a $300 statement credit after you spend $3,000 in purchases on your new card within the first six months. This can add substantially to the first-year value of your card.
If you’ve got a large purchase on the horizon, this feature could help you stretch out payments over time. With …….