Amex Introduces Exclusive Morgan Stanley Blue Cash Preferred Card

Something that most credit consumers may not realize is that American Express occasionally offers exclusive versions of their cards. For example, Charles Schwab customers could famously apply for a special edition of the Platinum Card and transfer their points to their brokerage account at a rate of 1.25¢ each (although this has since been lowered to 1.1¢ per point). Now, Morgan Stanley and American Express have announced another exclusive product, introducing the Morgan Stanley Blue Cash Preferred American Express Card.

Morgan Stanley customers as well as E*TRADE clients with an eligible brokerage account can now apply for the Morgan Stanley Blue Cash Preferred Card. With this special edition of the card, customers can earn a $100 annual statement credit when they spend $15,000 in eligible purchases during a calendar year. This benefit comes in addition to what the Blue Cash Preferred already offers, including 6% cashback at U.S. supermarkets (up to $6,000 per year in category spend), 6% on select U.S. streaming services, 3% back on transit, 3% at U.S. gas stations, and 1% back on all other purchases. Of note, the Morgan Stanley Blue Cash Preferred card does carry a $95 annual fee, but this is waived for the first year.

Beyond the introductory waived annual fee, the Morgan Stanley Blue Cash Preferred also includes a welcome bonus offer. Currently, new cardholders can earn a $300 statement credit when they spend $3,000 in eligible purchases during their first six months of card membership. This bonus opportunity is identical to what is currently being offered for the regular edition of the Blue Cash Preferred as well.

The Blue Cash Preferred card is the second Amex product to get an exclusive Morgan Stanley “flavor” following the Platinum Card. While this version of the iconic Platinum Card features all of the same benefits of the classic edition — including airport lounge access, several credits, and more — it also includes some bonus perks for Morgan Stanley customers. For one, those with the Platinum Card by American Express Exclusively for Morgan Stanley can add their first authorized user for free. Typically, Amex charges $175 for up to three authorized users (Morgan Stanley Platinum cardholders will need to pay that fee for up to three more authorized users after their complimentary first one). Meanwhile, this version of the card also allows customers to redeem their Membership Rewards points for deposits to their eligible Morgan Stanley brokerage account.

In a statement about the exclusive new product, Morgan Stanley Private Banking Group Head of Deposits and Banking Services Paul Halpern said, “At Morgan Stanley, we are continuously looking to provide the best benefits to our clients and empower them with their monetary decisions. The Morgan Stanley Blue Cash Preferred American Express Card gives our clients yet another tool to manage their financial needs, while being rewarded with cash back.”

Additionally, American Express’s SVP of Cobrand Product Management Jon Gantman said of the offering, “Our Card Members love earning cash back on the things they do every day, like cooking at home and streaming their favorite show, which is why the Blue Cash Preferred Card is one of our most popular cash back Cards. With this new Card, Morgan Stanley clients are getting one-of-a-kind value that can only come from their Morgan Stanley American Express Card Membership.”

Overall, it’s definitely interesting to see American Express expanding its brokerage card slate to other existing products beyond the Platinum card. In this particular case, the Blue Cash Preferred offers Morgan Stanley customers a way to earn cashback on practical spending while also potentially covering their annual fee thanks to the exclusive yearly statement credit offer. Therefore, this new option could be one that’s worth looking into.

Actually this is the 3rd AmEx Morgan Stanley card. There is also the plain AmEx Morgan Stanley card which has no annual fee. Not sure if they will do away with it with the introduction of this new BCP card. Ironically, I received a message today from Morgan Stanley for the first time since I opened both the plain & the Platinum Amex Morgan Stanley cards in Jun 2020. Maybe they want me to upgrade the plain card.

Thanks for calling that out Mike. It will be interesting to see if they do push you to upgrade. Let us know.

Leave a Reply

Your email address will not be published. Required fields are marked *

Author

Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded DyerNews.com in 2015 to focus on personal finance and the emerging FinTech markets.

Other Articles by Jonathan Dyer

Health Insurance Marketplace Premiums Mostly Stay Steady for 2022

In recent months, the main economic story in America has been inflation. Two weeks ago, the Bureau of Labor Statistics’ October Consumer Price Index showed prices increasing by 6.2% over the past 12 months, marking the largest yearly increase since 1990. Yet, despite prices climbing on a number of everyday items, it looks as though health insurance premiums purchased on state and federal marketplaces will remain relatively unchanged from 2021. According...

J.D. Power Reports Small Business Credit Card Satisfaction Surge

As small businesses continue to recover from the pandemic, it seems as though other aspects of their financial lives are normalizing as well. For example, a new survey finds that business owners are happier with their reward credit cards compared to last year. In fact, the J.D. Power 2021 U.S. Small Business Credit Card Satisfaction Study — which included participation from more than 3,000 small business credit card customers between...

FinTech TiiCKER Launches Android App

Recent years have brought about a retail investor revolution. Look no further than the advent of commission-free trading apps as well as the “Gamestonk” incident for evidence of this shift. Now, one FinTech app that enables shareholders to claim perks for their ownership is expanding its platform to a new medium. This week, TiiCKER announced the launch of its Android app. Previously, the platform was offered via an iOS app...