Is the Blue Cash Preferred® Card from American Express Worth the $95 Annual Fee?
On rewards alone, the Blue Cash Preferred® Card from American Express never out-earns the no-fee Alliant Cashback Visa® Signature Card — its $95 fee has to be justified by credits and perks, not the earn rates.
Rates verified 2026-05-12.
Method: we compare what the Blue Cash Preferred® Card from American Express earns against the best no-annual-fee card in the same category — the Alliant Cashback Visa® Signature Card — because the alternative to paying a fee is not earning nothing, it is a good free card. Full methodology.
Three spending levels
| Profile | Blue Cash Preferred® Card from American Express | Alliant Cashback Visa® Signature Card | After the $95 fee |
|---|---|---|---|
| Light spender ($1,200/mo) | $312/yr | $360/yr | −$143 behind |
| Typical spender ($2,400/mo) | $622/yr | $720/yr | −$193 behind |
| Heavy spender ($4,500/mo) | $1,166/yr | $1,350/yr | −$279 behind |
The breakeven curve
| Monthly spend | Margin vs. Alliant Cashback Visa® Signature Card (after fee) | Verdict |
|---|---|---|
| $500 | −$115 | keep the free card |
| $1,000 | −$136 | keep the free card |
| $1,500 | −$157 | keep the free card |
| $2,400 | −$193 | keep the free card |
| $3,500 | −$239 | keep the free card |
| $5,000 | −$300 | keep the free card |
| $7,500 | −$403 | keep the free card |
Caveats that can move this math: caps apply: up to $6,000/yr. Statement credits and perks are not counted unless you would have spent that money anyway.