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Forex Trading with American Express Blue Cash Everyday Card
American Express Blue Cash Everyday Card is a no-fee credit card that offers cash back benefits to cardholders. The card has long been popular with those who spend a lot with Apple, gas stations, and US supermarkets but now it has an even greater purpose – trading Forex. With its introductory APR offer on purchases and balance transfers, the Blue Cash Everyday now matches its sibling credit card — the Blue Cash Preferred Card from American Express — in earning 3% cash back at U.S. supermarkets, 2% cash back at U.S. gas stations and select U.S. department stores, and 1% cash back on all other purchases. This makes it an ideal card for investors and traders looking to maximize their Forex trading profits.
Benefits of Using Blue Cash Everyday Card for Forex Trading
The cash back rewards offered by the American Express Blue Cash Everyday Card are a great way to ensure that your Forex trading profits stay in your pocket. With the card’s introductory APR offer on purchases and balance transfers, you can effectively earn cash back on your trades while also taking advantage of the competitive Forex markets. Plus, the 0% introductory APR period can help you manage your Forex trading risk more efficiently by allowing you to pay off your balance faster.
Additionally, the Blue Cash Everyday Card offers protection tools to help keep your trading funds safe. American Express includes fraud protection to help safeguard your trading funds and provides purchases protection to help you better manage your Forex investments. The card also includes a number of additional services like Roadside Assistance and Travel Accident Insurance, giving you peace of mind when you’re trading remotely.
How to Trade Forex with the Blue Cash Everyday Card
Trading Forex with the help of the Blue Cash Everyday Card can be quite simple. To start, all you need to do is open an account with one of the supported FX providers and then link it to your Blue Cash Everyday Card. This will allow you to transfer funds from your card to your trading account and vice versa. You can then place trades directly from your trading account.
When making a withdrawal of funds from your trading account, you can either opt to have it credited to your Blue Cash card or directly transferred to your bank account. Keep in mind that all withdrawals of profits must be taxed according to government regulations. Additionally, you should be aware of potential exchange rate losses that may occur when trading in a foreign currency.
In any case, by taking full advantage of the benefits that the American Express Blue Cash Everyday Card has to offer, you can improve your Forex trading experience and maximize your potential profits.
An Overview of the American Express Blue Cash Everyday Card
The American Express Blue Cash Everyday Card is a great option for those looking to start earning cash back on various purchases. With no annual fee and solid bonus categories at places most people shop, you’ll likely have no problem getting value out of the card. As an added bonus, you get special access to Amex Offers, which provide exclusive merchant-funded discounts. Depending on which version of the card you get, you can even get a cashback bonus worth up to $200.
Cashback is earned as points and can be redeemed as statement or direct deposits into select bank accounts. Each dollar spent at eligible merchants get 1 point and depending on the card you can get up to 3 points per dollar. Points are worth a penny each so if you spend $1000 you would cover that in points. You can even get up to 6% cash back on U.S. supermarket and U.S. gas station purchases for the first six statement cycles. This makes the Blue Cash Everyday card a great choice for people who shop frequently at those locations.
The Benefits of the American Express Blue Cash Everyday Card
The American Express Blue Cash Everyday card comes with a variety of benefits within Amex’s Membership Rewards program that can be utilized to get even more value out of your purchases. For example, you can get up to 15% back at select restaurants, department stores, outlets, and more. Additionally, the card includes no annual fee, travel accident insurance, car rental loss and damage waiver, extended warranty coverage, travel and shopping protection, and more.
The rewards you receive with the American Express Blue Cash Everyday card align with your lifestyle, and you can even choose the version that includes 1.5% cash back on all your purchases with no limit. If you’re a frequent traveler, you’ll be pleased to know the card also comes with a complimentary car rental coverage and purchase protection to ensure you’re always covered in case of an emergency.
The Downsides of the American Express Blue Cash Everyday Card
The American Express Blue Cash Everyday card is not without some downsides. The rewards structure is not as generous as some of the reward cards from other issuers. Furthermore, the card has a relatively low acceptance rate, so it’s not as widely accepted as other types of credit cards. Additionally, the card has an higher interest rate than competing cards from other issuers, which could make carrying a balance a costly endeavor.
Overall, the American Express Blue Cash Everyday card is a great card for anyone looking for a rewards card without the annual fee. The rewards are competitive and the cash back you’ll earn more than offset the annual fee for most users. Furthermore, the various travel and purchase protections the card includes will give you added security when making purchases both domestically and internationally.
