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New Amex Blue Cash Preferred Card members can earn a $300 statement credit and benefit from an intro $0 annual fee

The Amex Blue Cash Preferred Card is offering a new welcome bonus worth up to $300, plus the $95 annual fee is waived the first year. Here are the details.

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The Blue Cash Preferred® Card from American Express is now offering an elevated welcome bonus that can earn you a $300 statement credit after you spend $3,000 in purchases within the first six months from account opening. In addition, the card’s $95 annual fee is waived for the first year. (See rates and fees.)

This new offer comes on the heels of a recent update to the welcome bonus for the Blue Cash Everyday® Card from American Express. And it helps solidify the Blue Cash Preferred card as the best credit card for grocery shopping.

While the previous $250 welcome bonus required a lower $1,000 spending threshold, you needed to meet the spending within just three months. The new welcome bonus gives you double the amount of time to reach the spending requirement and is worth $50 more.

The Blue Cash Preferred card offers an industry-leading 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), so you can maximize rewards on groceries. The card also provides a helpful intro 0% APR for the first 12 months on purchases, which can help you finance large purchases (after, 13.99% to 23.99% variable APR).

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

If you’ve never had the Blue Cash Preferred card, you may qualify for the welcome bonus. Here are the eligibility rules:

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.

Essentially if you’ve ever had the Blue Cash Preferred card, you’re unable to earn the welcome bonus. That said, even if you’ve never had the card, there’s a chance you may not qualify since Amex may consider how many American Express credit cards you have and other factors.

Bottom line

The Blue Cash Preferred card can help you maximize cash back at grocery stores and now benefit from a helpful introductory $0 annual fee (then $95). The new welcome bonus can earn you more cash back and gives you extra time to meet the spending requirement.

If you'd rather have a no-annual-fee credit card, consider the Blue Cash Everyday card. (See rates and fees.) You’ll benefit from competitive grocery rewards — 3% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) — and a longer intro 0% for the first 15 months on purchases (then, 13.99% to 23.99% variable APR).

For rates and fees of the Blue Cash Preferred® Card from American Express, click here.

For rates and fees of the Blue Cash Everyday® Card from American Express, click here.

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