Blue Cash Preferred® Card From American Express
vs. Bank of America® Unlimited Cash Rewards Credit Card

Both the Blue Cash Preferred® Card From American Express and the Bank of America® Unlimited Cash Rewards Credit Card offer enticing cash back rewards and no annual fee in the first year, making them strong contenders for your wallet. But the Blue Cash Preferred edges ahead with its higher cash back rates on supermarket and streaming purchases, which can translate to more savings for frequent shoppers in these categories.

Although the BofA Unlimited Cash’s flat-rate cash back is straightforward and beneficial if you prefer simplicity, the Blue Cash Preferred's bonus categories and introductory offer of a $250 statement credit after spending $3,000 in the first six months provide a compelling case for higher overall value.

You might prefer the BofA Unlimited Cash if you value simplicity and flexibility in a credit card. It has no annual fee and a flat 1.5% cash back on all purchases. The $200 welcome bonus and the longer 0% intro APR period for 15 billing cycles can also be particularly appealing if you're planning a large purchase or want to transfer a balance.

You might prefer the Blue Cash Preferred if your spending aligns with its bonus categories. The 6% cash back at U.S. supermarkets and on select streaming services, along with 3% back at gas stations and on transit, can accumulate significant rewards. While there's a $95 annual fee after the first year, the $250 welcome offer and additional perks like the Disney Bundle Credit can offset this cost if you maximize the card's potential.

Evaluating features like APRs, fees, credit requirements, rewards and introductory offers will clarify which card is for you. Use this section to discern the subtle yet impactful differences, like BofA Unlimited Cash's broader cash back or Blue Cash Preferred's higher rewards in specific categories.

The Blue Cash Preferred leads with a robust rewards program, especially if you frequently spend on groceries and streaming services. With 6% cash back at U.S. supermarkets (on up to $6,000 per year, then 1%) and on select U.S. streaming subscriptions, it caters to the modern household's needs. It also offers 3% back at U.S. gas stations and on transit, which includes a variety of transportation costs, making it a strong contender for commuters and travelers alike.

The BofA Unlimited Cash, while not as specialized, provides a straightforward 1.5% cash back on all purchases. This simplicity can be appealing if you prefer a no-fuss rewards experience without having to track spending categories. It's most compelling for its uniform reward rate across all spending, which can benefit users with diverse or unpredictable spending patterns.

The table of bonus categories helps you compare the rewards programs of both cards at a glance.

Both the BofA Unlimited Cash and Blue Cash Preferred offer straightforward redemption options. With the BofA Unlimited Cash, you can redeem your cash back directly into a bank or Merrill account, or as a statement credit, without worrying about expiration as long as your account is active.

Similarly, the Blue Cash Preferred allows you to apply cash back to your statement or use it at Amazon.com checkout, also with no expiration date. This flexibility ensures that the rewards you earn can be easily accessed and used according to your preferences.

MoneyGeek's ranking process evaluates credit cards like the Blue Cash Preferred and BofA Unlimited Cash for various use cases. This approach ensures that the score reflects the card's performance in the scenario where it provides the most value.

For cash back cards, the primary factors we consider are the effective reward rate and the return on investment for offers. These elements — along with annual fees, introductory purchase rates and issuer satisfaction — contribute to a card's overall score. For a detailed understanding of our process, you can review our ranking methodology.

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