Current welcome bonus. New Blue Cash Preferred cardholders can earn a $ statement credit after you spend $1, in purchases on your. The Blue Cash Preferred Card is ideal if you have good credit and spend a lot on the basics: groceries, gas, commuting costs, and streaming services. The. The card offers a lofty 6% cash back on up to $6, in yearly purchases at U.S. supermarkets (then 1%), 6% cash back on select U.S. streaming subscriptions.