by Daniel | Last Updated June 12th, 2022
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With a large choice of cash back credit cards to choose from it can be a difficult task to find one that really meets your needs.
And for this reason I though it would be good idea to review three great cards to choose from, the Amex Blue Cash Preferred Card, the Capital One Savor One card and the Chase Freedom Unlimited credit card.
All of these cards offer a decent cash back sign up bonus and a 0% intro APR which can be useful if you need to perform a balance transfer.
Ok, so now let’s take a closer look at each of these cards to see what benefits and user perks you actually get.
Then at the end of this article I’ll give my opinion on which card presens the most value.
Who Are These Cards Good For?
All of these cards are great for seasoned credit card users or anybody new to credit cards that are looking for way to start earning some cash back from their everyday spending.
Two out of the three cards have no annual fee which is always nice, it basically means you can start saving money without having to pay for it.
And if you are considering one of thee credit cards, its worth thinking about which one will best suit your needs.
As you will see later in the review, the Amex Card is the only card that offers an additional benefit that is a credit for a gym membership, so if you don’t go to the gym, this card might not be the best choice for you.
APR
Now for this section of the review, I’m just going to talk about what the current APR is for each card and what charges you may incur if you get a cash advance or do a balance transfer.
So starting with the Amex Blue Cash Preferred Card there is a 0% intro APR on purchases that runs for 12 months after opening the account, after this, the APR will be between 14.74% to 24.74%.
If you decide to get a Cash Advance the APR is 25.99% and will also incur a fee of either $10 or 5% of the amount of each cash advance, whichever amount is more.
There is a foreign transaction fee of 2.7%.
And then for Late Payments or Returned Payments from your bank, you may be put on a Penalty APR of 29.99%, with each penalty resulting in a fee of up to $40.
Next up, with the Capital One Savor One card there is a 0% intro APR on purchases and balance transfers that runs for 15 months, after this the APR will be between 15.24% to 25.24%.
And a Balance Transfer will also have a fee of 3% of the amount of each transfer after the initial 15 months is up. Performing a Cash Advance will result in an APR of 25.24% and will incur a fee of either $10 or 3% of the amount of each cash advance, whichever amount is more.
There are No Foreign Transaction Fees.
And then any late payments will incur a fee of up to $40.
Finally, with the Chase Freedom Unlimited credit card, there is a 0% APR that runs for 15 months on purchases and balance transfers, after this, the APR will be between 15.74%–24.49%.
And with a Balance Transfer, there will be a fee of either $5 or 3% for the first 60 days of opening the account, after this, the fee will be $5 or 5% of the amount of each transfer, whichever amount is more.
The APR for a cash advance is 25.74% and also carries a fee of either $10 or 5% of the amount of each transfer, whichever amount is more.
There is a Foreign Transaction Fee of 3%.
And then for late payments or payments returned by your bank, you may be put on a Penalty APR of 29.99%, and each penalty will incur a fee of up to $40.
So interestingly enough the only card that doesn’t have a foreign transaction fee is the Capital One Savor One credit card.
Also, both the Capital One card and the chase card offer a longer introductory APR of 15 months, compared to the Amex cards 12 months.
Annual Fee
Now of all the cards in the review, only the Amex Blue Cash Preferred Card has an anual fee, although you will get the first year free of charge, after this, it will cost $95 each year.
Also, something new from Amex is the ability to see if you can get approved for one of their cards without any impact on your credit score, which is a nice addition.
Sign-up Bonus
So for the next section of this review, I take a look at what sign-up bonus is on offer with each card.
Starting with the Amex Blue Cash Preferred Card it is possible to earn $300 in the form of a statement credit if you can spend $3,000 on purchases within the first 6 months of card ownership.
Next up, with the Capital One Savor One card it is possible to earn a $200 cash bonus that will be applied to your rewards balance if you manage to spend just $500 in the first 3 months of card ownership.
And then finally, with the Chase Freedom Unlimited credit card, it is possible to receive 20,000 bonus points that are worth $200 if you spend $500 in the first 3 months of opening the account.
So the Amex card offers an additional $100 in value over the other two cards, but you will need to spend 6 times the amount to actually receive it.
Earning Cash Back
Now for the next section of this review, I am going to talk about how each card fairs in terms of earning cash back.
And this is a pretty important aspect of these cards, as it will ultimately determine how much value you can get from these cards when using them for everyday spending.
So starting with the Amex Blue Cash Preferred Card there are quite a few options for earning cash back.
Starting at the top, it is possible to earn 6% cash back on purchases made at US Grocery Stores up to a total spend of $6,000 each year, after you meet the $6,000 limit it will revert to 1% until the next calendar year.
Then it is possible also earn 6% back on select U.S. Streaming Subscriptions.
Purchases made at US Gas Stations or on Transit will receive 3% cash back.
And then all other purchases will earn 1% cash back.
Next up, with the Capital One Savor One card it is possible to earn up to 8% cash back on Capital One Entertainment purchases.
Hotel and rental car bookings that are made through Capital One Travel will then earn unlimited 5% cash back.
Then purchases that are made at Grocery Stores, Dining, Streaming Services, and Entertainment will earn Earn unlimited 3% cash back.
And then all other purchases will earn 1% back
And finally, with the Chase Freedom Unlimited credit card the highest cash back opportunity is 5% back on Travel that is purchased through Chase Ultimate Rewards.
Then it is possible to earn 3% back from Restaurants that include Takeout, Delivery, and Drugstore purchases.
And then all other purchases will receive 1.5% cash back.
So it seems that the Capital One Savor Card has the highest cash back earning potential of 8%, which is available on Capital One Entertainment purchases, and this includes access to sporting events, music experiences and exclusive dining experiences.
Benefits and Perks
So for the next section of this review Im going go over all of the perks, benefits and insurance related coverage that you will get with each card.
And starting with the Amex Blue Cash Preferred Card the main benefit that is offered with this card is a $120 credit that can be used at Equinox gyms and is distributed out in $10 allotments each month.
Then from here is the insurance related coverage that comes with the card.
With Car Rental Loss and Damage Insurance there is secondary coverage that covers up to $50,000 in the event of damage or theft of a rental car that you have paid for with the actual card.
Then there is Return Protection which provides you with 90 days of coverage on items that a seller won’t take back and covers up to $300 per item and a total of $1,000 per calendar year.
You will also be covered by Purchase Protection which provides 90 days of coverage and covers $1,000 per item and and up to $50,000 per calendar year.
And then finally with Extended Warranty it is possible to receive 1 extra year of coverage on original manufacturers warranties that are 5 years or less, and this will cover up to $10,000 per item and $50,000 per calendar year.
Next up, with the Capital One Savor One card there are no actual perks, besides the signup bonus of $200 cash back, but there is a reasonable amount of insurance-related coverage seeing that it is a World Elite Mastercard.
Basically it is a long list of items that are covered which include:
- MasterRental Coverage – This is a secondary coverage that covers damage or theft of a rental vehicle and towing charges to the closet repair facility.
- Purchase Assurance – This provides 90 days of coverage against damage or theft of an item, and up to $1,000 USD per loss and $25,000 per 12 month period.
- Price Protection – Provides 120 days of coverage for items up to $250 per claim and a maximum of 4 claims in a 12 month period.
- Basically this covers new items you may have brought that you see advertised at a lower price than you paid for.
- Extended Warranty – Up to 24 extra months of warranty on manufacture warranties that are 2 years or less, and this covers a maximum of $10,000.
- Identity Fraud Expense Reimbursement – up to $1,000 USD
- Baggage Delay – This provides up $100 a day for 3 days if you your luggage is delayed for more than 4 hours by a common carrier.
- Trip Cancellation / Interruption insurance – If your flight is cancelled or cut short there is coverage of up to $1,500.
- Lost or Damaged Luggage – Up to $1,500 USD per incident with a maximum of 2 claims per 12 month period
Now finally, with the Chase Freedom Unlimited credit card there is only insurance realty coverage and as it is a Visa Signature card you will get an Auto Rental Collision Damage Waiver that covers you for the actual cash value of most rented cars.
Then with Purchase Protection you are provided with 120 days of coverage on new purchases against damage or theft, up to $500 per claim and $50,000 per account.
The Extended Warranty Protection with this card offers 1 additional year of coverage on warranties that are 3 years or less, and covers up to $10,000 per claim and a total of $50,000 per cardholder.
And then finally, Trip Cancellation/Interruption Insurance will provide up to $1,500 per person and $6,000 per trip if your trip happens to be cancelled or cut short for a cover reason.
Final Thoughts
Ok, so now that one gone over pretty much everything these card have to offer, which card do I think offers the most value?
And before I do make a decision, I think all of these cards provide great value if they meet all of your needs.
Seeing as the Amex card is the only card with a fee, If I was trying to save money, I would not choose that card, also the $120 credit at Equinox gyms is a nice benefit but it doesn’t make much difference seeing that a membership to Equinox can cost at least $2,000 a year, and if your paying that much for gym membership, you might as well get the Amex Platinum Card, as it provides a lot more overall value and better benefits at Equinox gyms.
So that leave the us with the Capital One Savor One credit card and the Chase Freedom Unlimited credit card.
And to keep it simple, overall the Capital One Savor Card offers more value than the Chase card, although it’s not a massive difference.
First of all the Savor one card is the only card with no foreign transaction fee, which its very usually if you need to use your card when you are traveling overseas.
It also offers up to 8% cash back, which is more than either of the other two cards, but it is only for Capital One Entertainment purchases.
And then finally it has the longest and lowest balance transfer fee of all 3 cards which is 3% for the entire 15 months from becoming a new card member, whereas the Chase Freedom Unlimited card only offers 3% for 60 days, it then reverts $5 or 5% of the total amount of each transfer.
So there is not a massive difference between all of the cards, but it is nice to know exactly what you are getting with each one.
Now if you like these cards but are looking for credit cards that offers a companion certificate each year, why not check out my review and comparison of 6 different credit cards that offer a companion certificate here.