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You have 1 month left to earn the Amex Blue Cash Preferred’s elevated $300 welcome bonus

The Amex Blue Cash Preferred Credit Card’s large $300 welcome bonus is ending on December 10. Here’s how to earn it before the offer expires.

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If you're gearing up for Thanksgiving and holiday grocery shopping, now's a great time to consider applying for the Blue Cash Preferred® Card from American Express. Last month, Amex increased the welcome bonus to $300, which is $50 more than usual, and added a $0 introductory annual fee for one year, then $95 (see rates and fees). But time is running out to earn this elevated bonus — you have until December 10.

In order to earn the $300 statement credit, you need to spend $3,000 on eligible purchases on your new card within the first six months from account opening. If you plan on having a few small family gatherings this holiday season, you may be able to meet the spending requirement through shopping for groceries and gifts.

Plus you'll benefit from a lucrative rewards program:

  • 6% cash back at U.S. supermarkets, on up to $6,000 per year in purchases (then 1%) — perfect for stocking up on food
  • 6% cash back on select U.S. streaming subscriptions — a nice way to be rewarded for watching your favorite holiday movies
  • 3% cash back at U.S. gas stations and transit including taxis/rideshare, parking, tolls, trains, buses and more — great for traveling to all your destinations
  • 1% cash back on other purchases — standard earning for gifts and everything else

Here's a breakdown of who's eligible to earn the bonus, plus how you can redeem your cash back.

Blue Cash Preferred® Card from American Express

Blue Cash Preferred® Card from American Express
On the American Express secure site
  • Rewards

    6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations, 3% cash back on transit including taxis/rideshare, parking, tolls, trains, buses and more and 1% cash back on other purchases

  • Welcome bonus

    $300 statement credit after you spend $3,000 on eligible purchases on your new card within the first six months

  • Annual fee

    $0 introductory annual fee for one year, then $95 (offer expires 12/10/2020)

  • Intro APR

    0% for the first 12 months on purchases, N/A for balance transfers

  • Regular APR

    13.99% to 23.99% variable

  • Balance transfer fee

    N/A

  • Foreign transaction fee

    2.7%

  • Credit needed

    Excellent/Good

See rates and fees, terms apply.

 

Who’s eligible for the Blue Cash Preferred welcome bonus?

If you’ve never had the Blue Cash Preferred Card, you may qualify for the welcome bonus. Amex follows the pattern of other card issuers like Chase that set restrictions on who’s eligible to earn a welcome bonus.

The offer terms state:

The welcome offer, intro APRs, and intro plan fees are not available to applicants who have or have had this Card. We may also consider the number of American Express cards you have opened and closed as well as other factors in making a decision on your welcome offer, intro APRs, and intro plan fee eligibility.

So if you’ve ever had the Blue Cash Preferred Card, you can’t earn the bonus. On top of that, Amex considers how many American Express credit cards you have and other factors, which means your qualification odds are decided on a case-by-case basis.

How can you redeem cash back?

The cash back you earn is received in the form of Blue Cash Reward Dollars that can be redeemed as a statement credit when you have a minimum balance of 25 Reward Dollars. Additional redemption options include gift cards and merchandise from popular retailers like Apple and Cuisinart.

Do Blue Cash Reward Dollars expire?

No, Reward Dollars don’t expire as long as your account remains open and in good standing.

Will this bonus offer happen more than once?

The Blue Cash Preferred Card welcome bonus is only running for a limited time through Dec. 10. While Amex hasn’t announced what welcome bonus will be available once this offer is over, it’ll likely go back to the prior offer that’s worth $250 cash back. Typically, card issuers don’t provide consumers a lot of insight into when their special offers come and go.

Check out our Amex Blue Cash Preferred Card review.

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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.