American Express Cash Magnet® Card

Cardholders' Choice i
Cardholders' Choice i
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  • Earn a $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership. 
  • Unlimited 1.5% Cash Back on your purchases. 
  • Cash Back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise. 
  • Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 15.24% to 26.24%. 
  • $0 plan fees for plans set up during your first 15 months of Card Membership with Plan It®, a feature that lets you split up big purchases into monthly payments with a fixed fee. 
  • You spoke, we listened. Over 1.6 million more places in the U.S. started accepting American Express® Cards in 2018. 
  • No Annual Fee. 
  • Terms Apply.
Annual Fee:
$0
Purchase Intro APR:
0%
(15 Months)
Purchase Regular APR:
15.24% - 26.24%*
Variable
Balance Transfer Intro APR:
0%
(15 Months)
Balance Transfer Regular APR:
15.24% - 26.24%*
Variable

Details, Rates & Fees

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* See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the 'Apply Now' button, you can review the credit card terms and conditions on the provider's website.

Cash Advance Rate 27.49%* Variable
Cash Advance Fee 3%, Min: $5
Late Fee Up to $38
Penalty APR 29.99%* Variable
Balance Transfer Fee 3%, Min: $5
Foreign Transaction Fee 2.7%
Return Payment Fee Up to $38

Rewards

Welcome Bonus

Earn $150 after you spend $1,000 in the first 3 months.

Redeem bonus as statement credit.

All Purchases

1.5% cash back per dollar

No cap on spending


Cardholders' Reviews

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
Most Helpful Positive Review
Paangngipin
by Paangngipin
Helpful to 49 out of 49

It says I have poor approval odds as my score is between 680-690. I tried applying directly to AMEX website and got approved in 30 secs for 1K limit. I am just building my credit and only owns secured cards. I read thouroughly the terms and conditions on getting the $150 bonus and you have to be aware on conditions that will disqualify you from getting one. Also, you'll get the bonus 6-8 weeks after your first 3 months of approval. Overall, their terms and conditions are fair.

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
Most Helpful Negative Review
Garda
Was let down.
by Garda
Helpful to 341 out of 386

I applied solely to do a balance transfer. I had "excellent odds" and was approved. I was only approved for a credit line of $1,000 with a 718 credit score. I had to rub my eyes to make sure I was seeing that right. I got approved for 10k on another card a year ago easily but this "balance transfer recommendation" card was a huge let down.


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† Credit Karma looks at how your credit profile compares to other Credit Karma members who were approved for this product. Of course, there's no such thing as a sure thing, but knowing whether your Approval Odds are Very Good, Good, Fair or Poor may help you narrow down your choices.

‡ Average score refers to the arithmetic mean, typical low score to the 5th percentile and typical high score to the 95th percentile of, in each case, available VantageScore 3.0 credit scores provided by TransUnion of Credit Karma members who were approved for this product from October 2018 through March 2019. Average and typical approved scores are provided as guidelines only and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.

 
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