American Express and Morgan Stanley Team Up to Offer Cash-Back Credit Card

This new version of Amex's Blue Cash Preferred has the same perks plus a new one

On Nov. 10, American Express and Morgan Stanley launched the Morgan Stanley Blue Cash Preferred American Express Card. The card is reserved for eligible Morgan Stanley customers and comes with all the same features as Amex's standard Blue Cash Preferred Card plus the chance to earn an annual credit worth more than the annual fee.

Key Takeaways

  • The new Morgan Stanley Blue Cash Preferred American Express Card offers excellent rewards on groceries, streaming services, gas, and transit.
  • This new version of Amex's Blue Cash card also provides an annual statement credit when cardholders spend enough each year.
  • The card is exclusively for Morgan Stanley customers with an eligible brokerage account.

A New Twist on a Top Cash-Back Credit Card

The Blue Cash Preferred Card is one of the best cash-back credit cards on the market, primarily for people who spend a lot at supermarkets. So even out of the gate, the Morgan Stanley version of the card offers standout rewards and benefits. Here's a quick breakdown of what the card offers:

  • A $300 statement credit when you spend $3,000 in the first six months.
  • 6% cash back on up to $6,000 spent annually at U.S. supermarkets (then 1%).
  • 6% cash back on select U.S. streaming services, with no cap.
  • 3% cash back at U.S. gas stations and on transit.
  • 1% cash back on all other purchases.
  • Up to $120 in annual statement credits toward an Equinox+ membership—that's $10 per month.
  • An introductory 0% APR on purchases for 12 months from the date of account opening. After that, the variable APR is 12.99% to 23.99%.

What's more, cardholders can also get a $100 statement credit each calendar year in which they spend at least $15,000. This feature is exclusive to the Morgan Stanley Blue Cash Preferred, and it's enough to make up for the card's $95 annual fee (which, in any case, is waived for the first year).

Who Is Eligible for the Card?

According to American Express, you need an eligible brokerage account with Morgan Stanley or one of its affiliates, such as E-Trade, to be able to get the card.

This means a brokerage account that's in your name, held by a trust where you are both the grantor and trustee, or held as a beneficial owner of a personal holding company, a non-operating limited liability company, a non-operating limited partnership, or a similar legal entity.

It's also important to note that if you close your Morgan Stanley account, American Express may close your card.

To open a Morgan Stanley Access Investing account, you need a minimum deposit of $5,000, which may be out of reach for many people. However, you can open an E-Trade brokerage account with no minimum investment.

If you already qualify based on your investing relationship with Morgan Stanley or E-Trade, this card offers a great deal of value, especially to those who spend a lot on groceries and can earn the annual statement credit.

As with any card, though, take your time to shop around and compare several options to determine the right fit for you.

Article Sources

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  1. American Express. "Morgan Stanley and American Express Introduce Exclusive Morgan Stanley Blue Cash Preferred Card." Accessed Nov. 11, 2021.

  2. American Express. "Morgan Stanley Blue Cash Preferred Card Rates and Fees." Accessed Nov. 11, 2021.