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
queenb1999
Hooked!
by queenb1999
Helpful to 82 out of 84

I already have the Blue Cash Everyday. If you already have an AMEX card you can only apply for another on the AMEX site at least that was my experience. I applied for the Magnet card and was approved for 10k. With that I was able to transfer my Cap 1 balance! My credits scores are in the mid 700s but my utilization is 4% overall. Utilization counts. History with them definitely counts! With 2 Caps, 2 AMEX, 1 Discover, 1 Citi, I am now offically done!

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
IvanN640
welcome bonus discarded
by IvanN640
Helpful to 92 out of 101

This welcome bonus not applicable if you have any other card with American Express, it is not clearly described in agreement. I applied for this card , was approved, spent money and didn't recive bonus. after 3 months and many hours of conversation with customer support they told me that I am not approved for that bonus, because I have other card opened 5 years ago.


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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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