The American Express Blue Sky Preferred card has a high interest rate and an annual fee, but it can still pay off to get this credit card. The rewards and benefits that American Express Blue Sky Preferred cardholders receive are unprecedented. Since these travel credit cards are accepted at virtually every hotel and airline, account holders are able to finance most of their travel expenses while still receiving generous discounts.
In 2010, American Express revealed the American Express Blue Sky Preferred line of credit cards for the first time. Existing American Express Blue cardholders were able to have their accounts reviewed in order to see if they qualified. New applicants must have a satisfactory credit record with no major blemishes occurring within the past 24 months.
Consumers are able to go to the Federal Trade Commission website in order to find out where they can see their full credit reports free once a year.
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AMEX Blue Sky Preferred Details
American Express Blue Sky Preferred cardholders pay a $75 yearly fee in order to maintain their accounts. This fee does not become applicable until the cardholder has maintained his or her account for a full year. New cardholders earn the equivalent of $100 by making $500 in purchases with their American Express Blue Sky Preferred credit cards.
A single point is earned when the American Express Blue Sky Preferred card is charged for regular purchases, but when it is used to finance travel expenses; cardholders get double points. Although it can take hundreds or even thousands of Blue Sky Rewards points to redeem a single perk, consumers that heavily rely on their credit cards can benefit greatly.
American Express Blue Sky Preferred Fees
Besides the annual fee, American Express Blue Sky Preferred members also need to consider their finances charges. Balances carried for more than one billing cycle are charged between 17.24% and 22.24% maximum.
Late fees on the American Express Blue Sky Preferred line of credit cards can cost cardholders up to $35. Although you are permitted to carry a balance, making excessive late payments can result in a credit line reduction.
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