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Amex ups streaming rewards to an industry-leading 6% cash back

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The Blue Cash Preferred® Card from American Express is one of the best cash back cards on the market, and it’s about to get even better. American Express has announced that as of May 9th, new and existing cardholders will now earn 6% cash back on select U.S. streaming subscriptions. There isn’t another credit card on the market that can compete with that high of a reward for streaming services.

Eligible streaming services include Spotify, Amazon Prime Video, Prime Music, Apple Music, Audible, HBO Now, Hulu, Netflix and more. There’s no cap on these rewards, so you will be free to earn as much as possible every year.

Amex also added a transit category bonus of 3% cash back covering anything from Lyft, Uber and other ride-share services, as well as parking, tolls and train fares. That’s in addition to the already dominant 6% cash back on U.S. supermarkets (on up to $6,000, then 1%) and 3% cash back at U.S. gas stations.

The welcome bonus has been updated from a $200 to a $250 statement credit after you spend $1,000 within the first 3 months, and the annual fee has stayed the same at $95. It’s always been one of the best cash back cards out there, and with the new categories added, American Express is looking to set itself even further apart from the pack when it comes to the cash back credit card you want for the everyday.

There is one casualty that has been caused by the new categories added, and that is the 3% cash back at select U.S department stores. This will be removed from the card when the streaming and transit benefits go live, and purchases made at department stores will fall into the 1% cash back on all other purchases category. Card Members who applied and were approved for the American Express Blue Cash Preferred Card before May 9, 2019, will continue to receive 3% Cash Back at select U.S. department stores until July 31, 2019.

American Express is updating the card’s design as well. The are replacing the current blue and white semi-transparent card with a deeper blue that features the Centurion logo front and center. The new card will also feature contactless payments, which allows you to pay in-store with your card by tapping it to the payment terminal, much like how you pay with your phone with services like Apple Pay, Google Pay, and Samsung Pay.

Source of the article – iMore