American Express will be PAYING me more than $100 a year to do what I am already doing. And no, I’m not giving them one thin dime of interest to get it.

Here’s how you can get even more money than what I’m getting.

Photo by CardMapr on Unsplash

Do you eat? Yeah, me too. I like eating too. That eating thing is costing me roughly about $250 to $275 per month. I try never to hit that $275, but good lord the price of food and gas has gone sky high. And that’s just the groceries. That doesn’t include eating out in a restaurant or ordering take out.

I frankly try to only do take out once in a while. Thanks to Covid I haven’t eaten in a restaurant in two years. I kind of miss it, but I don’t miss it enough to be willing to catch the latest strain of Covid.

I was reading my emails when I kept seeing advertisements from American Express on the side frame of my email reader. I usually don’t even bother looking at the ads because they are usually crap I don’t need or want. Those damn ad pixels are good at following people.

And if it is something I might want I don’t want to be tempted — so I just ignore them.

But clearly American Express has my number — in ways I hadn’t even thought about. I have an Amex business card, but for some reason it never crossed my mind to also get a personal Amex card. Even though they would flash up a screen suggesting that I am pre-approved or pre-qualified for a bunch of their cards I noticed that most of them have an annual fee. I swore on a stack of bibles that I would NEVER get a credit card with an annual fee. As far as I was concerned that was cash in the trash.

But when I saw 6% cash back flash across the screen on supermarket purchases and at US gas stations, I thought hmm 6% — that’s the highest cash back I have seen. And no rotating categories. That rotating category crap is for the birds. Ain’t nobody got time for that!

So, I clicked — yes, I know — they finally got me, but inquiring minds want to know. Sometimes the best feeling in the world is being smug and secure about not wasting time on stupid things until you realize you may be wasting money by assuming a card with an annual fee is a full stop no go. Usually, in my world annual fees just aren’t going to happen.

  • Unless they offer me more money than the annual fee. And offer it on something that I use often enough to make it worth my while. That’s where the food comes in.
bowls of delicious looking food
Photo by Dan Gold on Unsplash

I did the math and realized that using that card would earn me roughly about $198 dollars cash back per year between the food and transportation. Well subtract out the $95 annual fee and boom $103 for what I already buy. They also offer 6% cash back for monthly streaming services like Hulu, Netflix, Pandora and Spotify, but I don’t have any of those subscriptions.

The nice part is that they don’t even charge you the annual fee the first year, so you can earn the cash back ahead of time and then you can use it to pay the annual fee. These are the perks that come with the Blue Cash Preferred card.

Then I noticed that it also comes with a sign up bonus for new cardholders: Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.

SAY WHAT??? Hmm well all I need to do is put my cable bill, electric bill, my car insurance payment as well as the groceries on that card and I hit the $3000 mark even before the six months. Yes, they all have fees for paying with a credit card, but I did the math and subtracting out the fees I would still net a little more than $200 for what I am already paying for.

So maybe a credit card with an annual fee isn’t always cash in the trash.

And what about the interest on all of these charges? Right now, I pay cash for all of these items, so all I would have to do is make sure I take that cash and use it to pay the card off before it comes due. Yes, that takes discipline, but discipline is going to earn me some money.

When I first get a credit card, I always make sure to set the due date towards the 20th or 25th of the month so that the payments don’t coincide with other large bills due in the month. Since I have made a game out of how many days early can I pay my credit cards before they are due, I always come out on top. I have gamified it to make it kind of fun. I also set up a separate bank account with enough direct deposit to it to use auto pay — just in case I forget to do it.

The card comes with a whole bunch of more perks that I probably will only use once in a while, so I don’t even care about those. If your groceries are more than my $275 per month — that’s how you can get even more money than what I’m getting if you sign up.

You can apply for an American Express Card with this link. We can both get rewarded if you’re approved!

Yes, that is an affiliate link, but it won’t cost you any more than it would cost without the link. As in ZERO. Zilch. Nada. If you have gotten even a little bit of value out of me taking the time to explain how the deal works, using my link would really make you a fabulous person. Go ahead — try it and get paid.

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