July 6, 2022

Best Instant Approval Credit Cards of 2020 – Forbes Advisor

The Blue Cash Preferred® Card from American Express offers generous rewards and a 0{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} APR offer that…

Best Instant Approval Credit Cards of 2020 – Forbes Advisor

The Blue Cash Preferred® Card from American Express offers generous rewards and a 0{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} APR offer that can help you save money on interest (after which the card’s regular APR will apply), although you’ll need good or excellent credit to qualify.

Rewards: Earn 6{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} cash back on up to $6,000 spent each year at U.S. supermarkets (then 1{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}) as well as 6{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} cash back on select streaming services, 3{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} cash back on U.S. gas stations and transit and 1{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} cash back on other purchases.

Welcome Offer: Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Offer Expires 12/10/2020.

Annual Fee: Limited Time Offer: $0 introductory annual fee for one year, then $95. Offer Expires 12/10/2020

Benefits and Drawbacks: Like other American Express credit cards, the Blue Cash Preferred® Card from American Express lets eligible cardholders access their card numbers so they can use them right away through a digital wallet or for online purchases.

Once you have this card, you can earn 6{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} cash back on up to $6,000 spent at U.S. supermarkets each year, then 1{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}. By maxing out the grocery category each year, you would earn $360 cash rewards at a minimum.

You also earn 6{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} cash back on select streaming services plus 3{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} cash back on gas, parking, tolls and other transit as well as 1{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} cashback on all other purchases.

If you want to save money on interest, you should also be aware this card extends 0{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} APR on purchases and balance transfers for 12 months, followed by an APR of 13.99{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}-23.99{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} Variable based on your creditworthiness.