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Blue Cash Preferred Card from American Express at train stationSource: American Express

Best answer: Yes, the Blue Cash Preferred® Card from American Express does have an annual fee of $95, but the rewards far outpace the cost of entry to this card.

The Blue Cash Preferred Card from American Express is by far the most rewarding credit card when it comes to earning the most on the purchases you make every day. From picking up groceries, pumping gas, and watching Netflix, you will consistently earn elevated rewards on the common things you do.

That said, does the Blue Cash Preferred Card have an annual fee that comes with it? The answer is yes, it does. This card does have a $95 annual fee. This may seem like a lot, but in the world of annual fees, it's actually one of the lowest on the market.

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Even factoring in this annual fee, the Blue Cash Preferred Card pays for itself in no time at all because of the level of rewards its owners will earn on their purchases. Earning 6% Cash Back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) and select U.S. streaming subscriptions and 3% Cash Back at U.S. gas stations and transit adds up quickly. Since the average grocery bill can run someone up to $345 per person, per month, you would cover the annual fee in 5 months with just the grocery rewards alone. That's not counting your streaming, gas, transit, or 1% Cash Back on everything else you buy.

While an annual fee can shy some people away from a credit card, the math easily justifies this one. If you really can't deal with an annual fee, American Express does offer another card like this called the Blue Cash Everyday® Card from American Express that also rewards you for everyday spending. However, if you run the numbers, most will still earn more in rewards with the Blue Cash Preferred Card, even when factoring in the annual fee.

If you want to learn more about this card, here's everything you need to know.

Best cash back

Blue Cash Preferred® Card from American Express

Blue Cash Preferred® Card from American Express

Earn a $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. Earn 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% Cash Back on select U.S. streaming subscriptions, 3% Cash Back at U.S. gas stations, 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more, and 1% Cash Back on other purchases. Low intro APR: 0% for 12 months on purchases and balance transfers, then a variable rate, currently 14.49% to 25.49%. $95 annual fee.

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