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Blue Cash Everyday® Card From American Express Review: Good for Grocery Shoppers

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners. This site may be compensated through a credit card partnership.

The information related to Citi® Double Cash Card – 18 month BT offer has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

The Blue Cash Everyday® Card from American Express is a cashback rewards credit card with a $0 annual fee. It gives 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.

Blue Cash Everyday® Card from American Express

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on American Express’s secure website

Terms Apply | Rates & Fees

Blue Cash Everyday® Card from American Express

Annual fee
$0
Rewards Rate
3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.
Regular Purchase APR
15.24%-26.24% Variable

How to earn cashback rewards

For an introductory deal, the Blue Cash Everyday® Card from American Express provides a $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. The rewards program includes a decent amount of fine print for each cashback category.

Here’s what you need to know:

3% cash back at U.S. supermarkets up to $6,000 per year, then 1%

Fine print: Superstores, warehouses and specialty stores are not included. So if you visit your local fishmonger or butcher a few times a month, the cash you spend there probably won’t count as grocery shopping. Also, spending money at Amazon, Target and Walmart specifically won’t earn you 3% cash back.

Here are samples of grocery stores that will earn you 3% cash back:

  • Foodtown
  • Gristedes
  • Meijer
  • ShopRite
  • Stop and Shop
  • Vons
  • Whole Foods
  • Winn-Dixie
  • Online supermarkets such as FreshDirect

2% cash back at U.S. gas stations and select U.S. department stores

Fine print: Superstores, supermarkets and warehouse clubs that happen to sell gas are not included in the 2% cashback category. American Express gives examples of gas stations and a list of department stores that qualify for 2% cash back.

Here are some examples of gas stations:

  • Exxon
  • Gulf
  • Hess
  • Mobil
  • Murphy Express
  • Murphy USA
  • Shell

Here are the department stores:

  • Bealls
  • Belk
  • Bloomingdale’s
  • Bon-Ton
  • Boscov’s
  • Century 21 Department Stores
  • Dillard’s
  • J.C. Penney
  • Kohl’s
  • Lord & Taylor
  • Macy’s
  • Neiman Marcus
  • Nordstrom
  • Saks Fifth Avenue
  • Sears
  • Stein Mart

1% cash back on all other purchases

Fine print: The 1% cash back applies to all purchases that don’t qualify for 2% or 3% and grocery shopping you do beyond the $6,000 annual cap.

How does American Express determine cash back for each purchase?

American Express uses merchant codes to determine how much cash you earn for each purchase. Merchant codes (or MCCs) are four-digit codes assigned to merchants that classify their business. You need to buy gas and groceries from stores that have an eligible merchant code to get 2% or 3% cash back. For full cashback category terms, head here.

The cash back you earn can also be impacted by the way you choose to process your payments. According to American Express: “Purchases made through a third-party payment account or on an online marketplace (with multiple retailers) will not receive a higher percentage reward. A purchase may not receive a higher percentage reward if the merchant submits the purchase using a mobile or wireless card reader or if you use a mobile or digital wallet.”

By “higher percentage reward,” American Express means more than the basic 1% back. The best bet at making sure you get the highest reward possible from your spending is keeping things super simple.

Focus on shopping at the supermarkets, gas stations and department stores American Express has on the example lists above. At checkout, swipe your Blue Cash Everyday® Card from American Express the old-fashioned way to pay for your shopping haul.

Blue Cash Everyday® Card from American Express vs. Blue Cash Preferred® Card from American Express

At first look, the 3% cash back at U.S. supermarkets seems legit because you’re earning cash back with no fee. However, shoppers who spend any more than $3,000 per year at U.S. supermarkets should take a look at the upgraded Blue Cash Preferred® Card from American Express instead to see if it offers a higher reward.

The Blue Cash Preferred® Card from American Express gives 6% cash back at U.S. supermarkets on up to $6,000 per year, then 1%, and has a $95 annual fee, but you shouldn’t let that cost deter you.

If you spend just $3,200 at U.S. supermarkets per year with the Blue Cash Preferred® Card from American Express, the 6% cash back minus the $95 annual fee offers a greater amount of cash back than what you would earn spending the same amount on the Blue Cash Everyday® Card from American Express.

Here’s how it works out:

  • Blue Cash Everyday® Card from American Express – $3,200 x 0.03 = $96 cash back
  • Blue Cash Preferred® Card from American Express – $3,200 x 0.06 = $192 – $95 annual fee = $97 cash back

Yes, the difference initially may seem small.

But as you spend more on groceries, the cash back earned from the Blue Cash Preferred® Card from American Express surpasses the Blue Cash Everyday® Card from American Express at a higher margin. Plus, the Blue Cash Preferred® Card from American Express offers 3% cash back on gas and transit, as well as 6% cash back on streaming services.

How I got $3,200.

Blue Cash Everyday® Card from American Express
($0 Annual Fee)

Blue Cash Preferred® Card from American Express
($95 Annual Fee)

If you spend...

Your cashback reward will be

If you spend...

Your cashback reward will be

$3,000

$90

$3,000

$85

$3,100

$93

$3,100

$91

$3,200

$96

$3,200

$97

$3,300

$99

$3,300

$103

$3,400

$102

$3,400

$109

In this review, we’ll first explain the basics of the Blue Cash Everyday® Card from American Express rewards program. Then, we’ll give you a scenario of when it still makes sense to apply for the Blue Cash Everyday® Card from American Express instead of other cash back cards, including the Blue Cash Preferred® Card from American Express.

How cashback works

Cash back earned from the Blue Cash Everyday® Card from American Express is tracked in Rewards Dollars. You can redeem cash back through the account dashboard for statement credit in increments of $25. You can’t use cash back to make your monthly minimum payment.

How to qualify for the Blue Cash Everyday® Card from American Express

American Express products are best for people with good or excellent credit.

Who the Blue Cash Everyday® Card from American Express is best for

Your goal with the Blue Cash Everyday® Card from American Express is to spend enough in the higher cashback categories to beat the flat 2% on all purchases you can get with a card like the Citi® Double Cash Card – 18 month BT offer.

To throw another variable in the mix, if you plan to shop big in the grocery category, you should compare the Blue Cash Everyday® Card from American Express against the Blue Cash Preferred® Card from American Express before making a decision.

So, how do these cards stack up against each other?

Here’s a real-world example of when the Blue Cash Everyday® Card from American Express will benefit you more than the Blue Cash Preferred® Card from American Express or the Citi® Double Cash Card – 18 month BT offer.

For a quick recap:

  • Blue Cash Everyday® Card from American Express — 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.
  • Blue Cash Preferred® Card from American Express — $95 annual fee, 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), and 3% cash back at U.S. gas stations, as well as NEW 6% Cash Back on select U.S. streaming subscriptions & 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more.
  • Citi® Double Cash Card – 18 month BT offer — Earn 2% cash back on purchases 1% when you buy and 1% as you make payments for those purchases

The sample scenario

Marc is a family of one and lives a simple life. He commutes 30 minutes to and from work each day. He’s not a big credit card user. He uses the card primarily to feed himself, to fill up his gas tank and to take his partner out to an affordable dinner at a place of her choosing once or twice a month.

Here are Marc’s spending specs:

  • $2,000 per year on groceries
  • $2,400 per year on gas
  • $1,500 per year on miscellaneous purchases

This is the cash back he would earn from the Blue Cash Everyday® Card from American Express, Blue Cash Preferred® Card from American Express and Citi® Double Cash Card – 18 month BT offer:

Category

Annually

Blue Cash Everyday® Card from American Express

Blue Cash Preferred® Card from American Express

Citi® Double Cash Card – 18 month BT offer

Groceries

$2,000

3% - $60

6% - $120

2% - $40

Gas

$2,400

2% - $48

3% - $72

2% - $48

Other Spending

$1,500

1% - $15

1% - $15

2% - $30

Annual Fee

-

$0

$95

$0*

Total

-

$123

$112

$118

Marc is a pretty reserved spender, so he’ll earn more cash back with the Blue Cash Everyday® Card from American Express compared to the Blue Cash Preferred® Card from American Express because there’s a $0 annual fee eating away at his earnings.

Cash back from the Citi® Double Cash Card – 18 month BT offer comes close to the Blue Cash Everyday® Card from American Express, but the 3% at U.S. supermarkets is more of a benefit to him than unlimited 2% cash back because of his spending habits.

Now, let’s say Marc had his partner move in and the grocery bill increased to $3,000 per year.

Here’s the updated specs:

  • $3,000 per year on groceries
  • $2,400 per year on gas
  • $1,500 per year on miscellaneous purchases

Category

Annually

Blue Cash Everyday® Card from American Express

Blue Cash Preferred® Card from American Express

Citi® Double Cash Card – 18 month BT offer

Groceries

$3,000

3% - $90

6% - $180

2% - $60

Gas

$2,400

2% - $48

3% - $72

2% - $48

Other Spending

$1,500

1% - $15

1% - $15

2% - $30

Annual Fee

-

$0

$95

$0*

Total

-

$153

$172

$138

The Blue Cash Preferred® Card from American Express with the $95 annual fee would take the earnings edge away from the Blue Cash Everyday® Card from American Express in this second scenario. So, again, the Blue Cash Everyday® Card from American Express may not be the best cashback deal available for someone who spends in the $3,000 range on groceries per year.

Although, every situation is unique, and small fluctuations in spending habits can make a huge difference in cashback potential. Do a similar cashback comparison on your own before settling on a rewards card.

Other card benefits

Besides cashback rewards, American Express cardholders get to take advantage of the following premium benefits:

  • Car rental loss and damage insurance
  • Roadside assistance
  • Global assistance hotline
  • Travel accident insurance
  • Extended warranties
  • Return protection
  • Purchase protection
  • Fraud protection

If you decide to apply for the Blue Cash Everyday® Card from American Express, know that American Express is a card that you may have difficulty getting accepted by smaller retailers and abroad. However, American Express having limited acceptance may not be too problematic for Blue Cash Everyday® Card from American Express cardholders.

Mom-and-pop corner markets that don’t accept American Express may not have a merchant code that qualifies for 3% cash back anyway. Plus, the Blue Cash Everyday® Card from American Express has a foreign transaction fee of 2.7% of each transaction after conversion to US dollars. So it’s probably not a card you’re going to take abroad frequently as your travel companion either.

That said, consumers who will benefit the most from this cash back card are ones who plan to shop primarily stateside at major supermarkets, gas stations, and department stores that qualify for the highest reward.

Rewards cards: Frequently asked questions

No, Blue Cash points do not expire as long as your account is open and in good standing. So, you can save your points for higher value rewards including electronics and travel.

Anything over 1.5% cash back is a good deal. There are some cards that offer more — as much as 5% or 6% cash back on purchases. But sometimes those offers are too good to be true. Banks don’t like to lose money and will pepper the fine print with all sorts of limitations. For example, they may offer 5% cash back on only purchases at certain types of retailers and only for certain periods of time. And those categories may change every quarter, which can make it hard to keep track.

Don’t let those cashback promises pressure you into spending more than you can afford. If you don’t pay your statement balance in full each month, you could get slapped with sky-high interest charges. That would totally negate any benefit you might get from earning cash back. Cash back cards are only valuable if you can pay your bill in full and capture the entirety of your cash back rewards.

It depends on the card. Some cards allow you to redeem cash back dollar for dollar as a statement credit, which can help lower your total balance. Just keep in mind that applying cash back to your card statement does not count as a monthly payment. Other cards will increase the value of your cash back if you spend on certain categories, like travel. Review your terms carefully to be sure you’re getting the most bang for your buck.

Find the card that fits your day-to-day spending needs best, beyond the flashy sign-up bonus offers and cashback promises. Pay your bill in full each month (spend only what you can afford to pay off).

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Taylor Gordon
Taylor Gordon |

Taylor Gordon is a writer at MagnifyMoney. You can email Taylor here

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How to Request a Credit Limit Increase With Chase

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

If you’re interested in requesting a credit limit increase with Chase, the good news is that it’s fairly simple to do. Before you pick up the phone, however, be sure you’re requesting a credit limit increase for the right reasons. Are you looking to get a higher limit so you can make a large purchase and pay it off over time? Are you constantly finding yourself maxing out your cards? A higher limit might help you in the short-term by giving you more breathing room, but it won’t solve the larger issue that is driving you to charge purchases you can’t afford to pay off each month.

But a credit limit increase can also be a strategic move to decrease your credit utilization rate and, as a result, possibly boost your credit score.

In this post, we’ll provide instructions for requesting a credit limit increase with Chase.

Option 1: Over the phone

The only way to request a credit limit increase is to speak with a representative over the phone. Simply call the number on the back of your card and someone can assist you in requesting a higher credit limit. Have your account and financial information ready.

A Chase representative tells MagnifyMoney there is no limit to how many times you can request a credit limit increase. However, be aware that a request will result in a hard pull on your credit report, which can ding your credit score.

Option 2: Automatic credit limit increases

On occasion, you may receive a notice from Chase in the mail saying your credit limit has been increased automatically. If you receive an increased credit limit, there is no action required on your part and your new credit limit is available for use. Your odds of receiving an automatic credit limit increase may be amplified if you follow some of the tips below.

  • Pay on time and more than the minimum. Having good payment history shows issuers you’re responsible with your credit card and may lead to an increase in your credit limit. That means don’t be late on payments and avoid carrying a balance whenever possible.
  • Keep your income up to date. For example, if you get a raise, record your new salary on your account profile so your financial information will be current. If issuers see you’re making more money, they may raise your credit limit.

Currently, you can’t request a credit limit increase with Chase online.

Understanding credit limit increases

Hard or soft pull on your credit? If you receive an automatic credit limit increase, there will be no harm to your credit score since you didn’t initiate anything. However, if you request an increase by phone, Chase will request a credit bureau report, resulting in a hard pull.

A higher credit limit has the potential to improve your credit score. Increasing your credit limit has the potential to boost your credit score by allowing you to maintain a low utilization rate more easily. Your utilization rate is the amount of credit you’re using divided by the total credit you have. An increase in the limit while maintaining the same spending will lower your utilization rate, and may raise your credit score.

For example, if you spend $1,000 a month on a card with a $4,000 credit limit, your utilization rate is 25%. But, if you request a credit limit increase and receive a new line of credit at $5,000, your utilization rate will drop to 20% as long as you still spend $1,000 a month.

Increased buying power. Your current credit limit may not be enough to cover the cost of large purchases, and that’s where a credit limit increase can come in handy. An increase in your credit limit can provide you with the buying power necessary for large purchases. However, take your increased credit limit with a grain of salt. While it can be tempting to spend more, keep new purchases to a minimum and pay them off as soon as possible so you avoid interest charges.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Alexandria White
Alexandria White |

Alexandria White is a writer at MagnifyMoney. You can email Alexandria at [email protected]

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Review of Edward Jones CD Rates

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

What are brokered CDs?

Edward Jones offers brokered CDs, which are a bit different from the standard bank-issued CDs that most investors are familiar with. Bank-issued CDs, as the name implies, are issued by individual banks for their customers. Since Edward Jones is a broker and not a bank, it cannot issue its own CDs. Instead, the firm offers a range of CDs issued by other banks and thrifts but sold via Edward Jones.

For the casual investor, it can be hard at first glance to tell the difference between bank-issued and brokered CDs. However, there are some important distinctions:

  • No early withdrawal penalties: Brokered CDs don’t have early withdrawal penalties. If you need to get out of your CD, you can usually sell it back to another investor through a brokerage firm. This means that brokered CDs carry some additional risk, as the price of these CDs may fluctuate on the open market.
  • Higher APYs: You can often get higher yields on a brokered CD than with a bank-issued CD. Brokers are able to negotiate higher CD rates since they can guarantee a large pool of buyers to CD issuers. In the era of online banking, however, even brokered CDs do not always garner the absolute highest rates.
  • Longer-term options: Brokered CDs often have longer-term options than are available with traditional bank-issued CDs, which are generally short-term investments only.

CD rates from Edward Jones

Edward Jones offers a fairly comprehensive range of CD maturities, ranging from three months to 10 years, although the firm doesn’t offer 6-year CDs, 8-year CDs or 9-year CDs. Rates and availability change frequently, oftentimes daily. The longer-duration CDs offered by the firm aren’t traditionally available at banks.
Edward Jones CD Rates
TermMinimum deposit to earn APYAPY
3 months$1,0001.95%
6 months$1,0002.00%
9 months$1,0002.00%
1 year$1,0001.95%
18 months$1,0001.90%
2 years$1,0002.05%
3 years$1,0002.15%
5 years$1,0002.20%
7 years$1,0002.45%
10 years$1,0002.60%

For all maturities, Edward Jones requires a $1,000 opening deposit, which is the same minimum required to earn the stated APY. As these are brokered CDs, there is no early withdrawal penalty. However, investors are subject to current market prices if they need to get out of a CD prematurely. If interest rates have risen since the date of purchase, you’re likely to get less money back than you originally invested in the CD.

One important difference between Edward Jones CDs and standard bank-issued CDs is that interest does not compound with Edward Jones CDs. All interest is paid directly into a money market or insured bank deposit at Edward Jones, unless you request it to be distributed. Either way, you can’t reinvest your distributions into your existing CD.

Unlike some banks, Edward Jones doesn’t offer any type of hybrid or alternative CD, such as a step-up CD or an adjustable-rate CD. There are also no bonus APR CDs available at the current time, just standard rates. Edward Jones also does not offer special rates for jumbo CDs, which traditionally require a $100,000 deposit. However, you can use the firm’s wide range of CD maturities for certain CD strategies, such as building a CD ladder. You can also buy their brokered CDs in an IRA.

Unlike bank-issued CDs, the brokered CDs offered by Edwards Jones do not automatically roll over into new CDs. At maturity, the banks that issued the CDs pay the proceeds to Edward Jones, which then forwards the money to your account. At that point, you can either select a new brokered CD to purchase, or keep the funds in your Edward Jones money market or insured bank deposit account.

How to get CDs from Edward Jones

You’ll need to open a brokerage account at Edward Jones to buy any CDs. The account minimum to open is $0, but as Edward Jones is a full-service brokerage, you’ll need to go into a branch and visit a financial advisor to open an account. There is no facility to open an account online.

You can open your Edward Jones account as rapidly as you can fill out the paperwork and fund the account. As soon as your deposit clears, you are free to buy a CD through your Edward Jones broker. If you change your mind, you can generally withdraw your funds within 4-6 business days after deposit, although this hold period may extend to 11 business days for new clients. Once you buy a CD, you can sell it at any time on the open market. As noted above, the amount you receive may be less than the amount you originally paid.

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How do CD rates from Edward Jones compare?

Edward Jones CD rates are well above the national average, but they still fall considerably short when compared with the best available rates nationwide.

Unlike with many firms, Edward Jones doesn’t currently have any special-rate CDs, where certain maturities pay dramatically higher rates. Instead, rates at Edward Jones land along a traditional curve, gradually increasing in yield as maturities lengthen.

For example, as of July 3, 2019, the Edward Jones 2-year CD rate of 2.05% is far below the best available 2-year CD rates. Three-year CD rates top out nationally at 3.00%, but Edward Jones pays 2.15%. The pattern continues throughout the maturity curve, with the top 5-year CD rates nationally hitting 3.00% or more, while the 5-year at Edward Jones pays 2.20%.

As such, all rates at Edward Jones fall in the general area of being well-above national averages but still notably short of the best available rates.

Overall review of CDs from Edward Jones

You won’t be wasting your time investing in CDs from Edward Jones, as you’ll be earning rates far above the national averages. You’ll also benefit from the ability to construct a CD or overall investment strategy with the assistance of a full-service advisor. However, if you’re looking for the absolute best CD rates for your money, there are plenty of online banks that can pay you a higher rate.

CD investors who like a wide range of products may be disappointed at Edward Jones, as popular options such as step-up or no-penalty CDs are not currently available. However, Edward Jones CDs do benefit from offering brokered CDs. This provides a range of flexibility that standard bank-issued CDs cannot offer, as you can liquidate your CD position at any time without paying an early withdrawal penalty.

The bottom line is that yield-hungry investors that enjoy managing their own portfolios may be better suited at any number of online competitors. Those looking to incorporate decent-yielding CDs into their overall investment portfolio with the help of a full-service broker might prefer working with Edward Jones.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

John Csiszar
John Csiszar |

John Csiszar is a writer at MagnifyMoney. You can email John here