Morgan Stanley Blue Cash Preferred American Express Card Review 2022 – Forbes Advisor

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Morgan Stanley Blue Cash Preferred® American Express Card* vs. Citi® Double Cash Card

Where the Morgan Stanley Blue Cash Preferred Amex grabs headlines with cash back in specific categories, the strength of the Citi Double Cash card for cardholders is the ability to earn 2% cash back on all purchases – 1% when purchases are made and an additional 1% when they’re paid. We recommend pairing these two cards like this for maximum earning potential on all your spending.

Rewards on Citi Double Cash come in the form of Thank You Points, which can be converted into cash back, used to book travel, or transferred to one of Citi’s travel transfer partners.

Morgan Stanley Blue Cash Preferred® American Express Card* compared to the Blue Cash Everyday® card from American Express

Those who spend frequently in the bonus categories offered on Blue Cash Preferred, but don’t want to pay an annual fee, may want to consider Preferred’s no-annual-fee sister card, the Blue Cash Everyday® Card from American Express.

With this card, you’ll earn 3% cash back at US supermarkets, US gas stations and online retail purchases in the US (up to $6,000 in each category per year in purchases, then 1 %) and 1% cash back on other purchases. Cash back is received in the form of reward dollars that can be easily redeemed for statement credits. The biggest difference between the two is that Blue Cash Everyday has no annual fee, but you also earn less at US supermarkets and US gas and also redeem high transit rewards for bonus earnings at select department stores . Those who spend more than $61 a week on groceries and other supermarket items will come out on top with the Morgan Stanley Blue Cash Preferred despite its $0 for the first year, then $95 annual fee.

Morgan Stanley Blue Cash Preferred® American Express Card* vs Citi’s Costco Anywhere Visa® Card*

Costco shoppers interested in earning points on gas can take advantage of the Costco Anywhere Visa to earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year, then 1 % thereafter, 3% cash back on eligible dining and travel purchases, 2% cash back on all other purchases at Costco and Costco.com, and 1% cash back on all other purchases .

For those whose annual gas bills will not exceed $9,333 (the threshold at which earning 3% on gas is more profitable than earning 4% with a cap of $7,000), the Costco Anywhere Visa will earn more on gas purchases. gas. Whether or not the remaining categories fit spending habits or budgets is up to each individual consumer.

The Costco Anywhere visa does not have a low introductory APR like the Morgan Stanley Blue Cash Preferred Amex, but other than the required Costco membership, it has no additional annual fees and unlike the Morgan Stanley Blue Cash Preferred Amex, it does not charge foreign transaction fees.

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