Cash Magnet vs Blue Cash Preferred: What You Need to Know
Do you have a hard time deciding between the Cash Magnet and Blue Cash Preferred credit cards? You're not alone. Millions of Americans struggle to choose the right cards to maximize their rewards and benefits.
What Do Both Cards Offer?
Both the Cash Magnet and Blue Cash Preferred cards offer a variety of benefits and rewards. The Cash Magnet offers a one-time bonus of $150 when you spend $1,000 on purchases within the first three months of card membership. This card also provides a flat 1.5% cash back on all purchases, plus 3% cash back at U.S. supermarkets and select U.S. department stores.The Blue Cash Preferred card also offers a one-time bonus of $150 when you spend $1,000 on purchases within the first three months of card membership. Plus, this card provides 6% cash back at U.S. supermarkets and select U.S. department stores, and 3% cash back at gas stations. There's also a 1% cash back on all other purchases.
Which Card Is Right for You?
When it comes to deciding between the Cash Magnet and Blue Cash Preferred cards, you'll need to consider which card offers the features that best meet your needs. If you're looking for a card with a flat cash back rate, the Cash Magnet might be the best choice. This card offers a flat 1.5% cash back on all purchases, plus bonus rewards at U.S. supermarkets and select U.S. department stores.On the other hand, if you're looking for a card that offers bonus rewards on more categories, the Blue Cash Preferred might be a better fit. This card provides 6% cash back at U.S. supermarkets and select U.S. department stores, 3% cash back at gas stations, and 1% cash back on all other purchases.
What Are the Differences in Terms of Fees?
When it comes to fees, the Cash Magnet and Blue Cash Preferred cards also have some significant differences. The Cash Magnet doesn't have an annual fee, while the Blue Cash Preferred card has a $95 annual fee. However, the Blue Cash Preferred card does have a higher sign-up bonus and higher rewards rates than the Cash Magnet, so it might be worth the fee if you plan to use the card frequently.
What About Other Benefits?
Both cards offer a variety of other benefits, such as purchase protection and extended warranty protections. The Cash Magnet offers access to Amex Offers, which gives you discounts and deals at select merchants. The Blue Cash Preferred also gives you access to Amex Offers and provides unlimited access to your FICO® score.
The Bottom Line
When it comes to deciding between the Cash Magnet and Blue Cash Preferred, it's important to look at the features, rewards, and fees that each card offers. If you're looking for a card with a flat cash back rate, the Cash Magnet might be the best option. But if you're looking for a card with bonus rewards on more categories, the Blue Cash Preferred might be a better fit.
Conclusion
The Cash Magnet and Blue Cash Preferred credit cards both offer a variety of features and benefits that make them appealing to many consumers. The key is to look closely at the features, rewards, fees, and other benefits that each card offers and decide which one is the best fit for your needs. So if you're looking to maximize your rewards and benefits, make sure you consider both the Cash Magnet and Blue Cash Preferred cards.The decision is ultimately up to you, but whichever one you choose, you can be sure that you're getting a great credit card with a variety of features and rewards. So why wait? Read up on these two great cards and make the best decision for your financial future.If you want to learn more about the Cash Magnet and Blue Cash Preferred cards and make the best decision for your financial needs, then read up on these cards and make your decision today.
