December 3, 2024: The Bread Cashback® American Express® Credit Card offers no frills 2% cash back rewards and access to Amex Offers for no annual fee.
Our quick take on the Bread Cashback® American Express® Credit Card
Cards and Points Rating:
The Bread Cashback® American Express® Credit Card’s value lies in its simple 2% cash back rewards. We like simple. We like cash back. This is a good start.
Unfortunately for Bread, there are other cards out there that offer a more compelling value proposition if you’re looking for 2% cash back. The Citi Double Cash is at the top of our list, thanks to Citi adding an extended warranty benefit back to the card. But the Wells Fargo Active Cash also is attractive for its cell phone protection.
The Bread card would be much better if it offered an extended warranty in addition to its retail protection benefit. And we think that only offering secondary car rental insurance in Canada and Mexico is a little cheap—and could offer a nasty surprise to anyone relying on this coverage abroad.
The one thing that the Bread card has that other 2% cash back cards don’t is Amex Offers. We’ve gotten quite a bit of value out of these targeted offers and having another card with these offers (without counting against Amex’s five-card per customer limit) would be nice.
Pros
- 2% cash back on every purchase
- Amex offers
- No annual fee
Cons
- No public welcome offer
- Secondary car rental insurance only covers U.S. and Canada
Welcome offer: Only targeted offers available
Contrary to what you might read elsewhere on the internet, the Bread Cashback® American Express® Credit Card does have a welcome offer—but you won’t find it online. The offer is targeted and you’ll only get it if you were targeted for the offer. We received the offer via direct mail.
Here’s the offer we’ve seen: Earn $200 cash back when you open an account and spend $1,000 in the first 90 days.
Rewards: 2% cash back on every purchase
The Bread Cashback® American Express® Credit Card’s cash back rewards are as simple as you can get: 2% cash back on purchases with no caps or categories. And you can redeem your rewards for a statement credit or direct deposit if you have $0.01 or more of rewards to redeem.
Benefits: Limited consumer and travel protections
Consumer insurance benefits
Retail protection
Retail protection protects the things you buy with your card from damage or theft for a certain amount of time after you buy them.
- Provides coverage for 90 days from the date of purchase.
- Covers only damage or theft.
- Limit of $1,000 per covered purchase and $50,000 per eligible card, per calendar year.
Travel insurance benefits
Car rental loss and damage insurance
Car rental insurance protects you against damage to or theft of your rental vehicle.
- Secondary coverage.
- Coverage only within the United States and Canada.
- Limit of $50,000 per rental agreement.
Statement credits and partner offers
Targeted merchant-specific offers that frequently offer additional cash back or statement credits.
- Enrollment in each offer required.
- Offers are account-specific.
Our experiences: How we use the card
Our guides to cards are thoroughly researched using primary sources, but members of our team often have these cards as well. Here’s how we use our cards.
I don’t have experience with this card as a cardmember, but I’ve been targeted for the card’s $200 welcome bonus, so I’ve been looking into this card.
Personally, I find other 2% cash back cards more compelling. Since the Citi Double Cash just added an extended warranty benefit, that’s the card that I’m currently recommending to my friends.
The one thing that has me wondering if I should get the card is the Amex offers. I’ve gotten a lot of value from Amex offers in the past and having another card that gives me access to Amex offers without counting toward my 5 card limit with Amex is very tempting.
Other cards to consider
If you’re considering the Bread Cashback® American Express® Credit Card for 2% cash back rewards, consider what other benefits are important for you. If getting Amex Offers is your highest priority, get the Bread card. But here are some other cards that should top you list:
- Small business owners should consider the American Express Blue Business Cash™ Card. That card offers 2% cash back rewards on the first $50,000 you spend on the card each year, but it includes extended warranty, purchase protection, and car rental loss and damage insurance that can cover you in most countries.
- If you value extended warranty, look at the Citi Double Cash Card. Citi recently added an extended warranty benefit back to this card, making it one of the only personal credit cards that earns 2% cash back rewards with an extended warranty.
- The cell phone protection on the Wells Fargo Active Cash offers one of the lowest deductibles we’ve seen for such a benefit—$25. Plus you’ll get 2% cash back rewards on every purchase.
