American Express Cash Magnet™ Card Reviews

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Approval Odds

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4.5 out of 5 stars
84 Reviews

From Cardholders in the last year

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Application Process

4 out of 5 stars

Customer Service

4 out of 5 stars

4.5 5

Card Details

  • Balance Transfer Intro APR 0% for 15 Months
  • Balance Transfer Regular APR 14.99% - 25.99%* Variable
  • Annual Fee $0
  • Purchase Intro APR 0% for 15 Months
  • Purchase Regular APR 14.99% - 25.99%* Variable

Most Helpful Positive Review

Sep 02, 2018
Fast Approval $10k
hjjinc7 Cardholder

I was hesitant to apply reading the reviews. Equifax 738 TU 730 Experian 695; knowing that Amex uses Experian had me nervous. I already have one AMEX for my business so I decided to try it. I was approved immediately for $10k, my highest credit card to date. I have been rebuilding my credit for 3 long years and I will not stop until those scores are over 800. Thanks Credit Karma

i has excellent approval odds

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Most Helpful Negative Review

Aug 23, 2018
Pros and Cons
mycreditkarma33 Cardholder

Was pre-qualified so I got this card but VERY Low credit limit ($1000) even though I do have good credit. Wasn't able to get the Bonus offer due to the low cl which kinda sucks. I'm using this card for a Balance Transfer to save on some interest so I guess it's useful... for now.

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These reviews were written by current and former cardholders in the last year.

Dec 12, 2018
Excellent flat rate cashback card
Zelderado Cardholder

As most already know by this point through other reviews, American Express uses the Experian credit score which could be considerably lower than your Equifax or TransUnion. My TU and EQ scores were, and have since been 745 (both before AND after applying for this card) for about a solid year in both directions. And yet, I was only approved for a CL of $1,000 (a little disappointing). Otherwise... customer service, the rewards, the ease of using the AmEx app, and the attention to potential fraudulent acts are all fantastic! I would definitely recommend for those looking for a straightforward flat rate cashback card with nice promotional rewards and other benefits.

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Dec 12, 2018
Pretty good card
tattedupboy Cardholder

I applied and was approved with a 680 Experian FICO score. As I'm sure anyone with this card knows, if you use this as your primary card (or any AmEx card, for that matter), make sure to carry a backup Visa or MasterCard. When I am able to use it, it's great, and the welcome bonus is the cherry on top. 

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Dec 09, 2018
Amazing benefits
Cardy1 Cardholder

I got approved for this card in September and I already got an increase after 2 months. You can’t go wrong with the Amex cash magnet. I’m a happy Amex customer. Thank you 

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Dec 06, 2018
They gave me $2,000
ImNet Cardholder

Great card, they only started me with $2,000, but after 60 days I requested a higher limit and they moved me to $6,000. Overall it’s a great card. I got my $150 bonus for spending like $2,000. So far I’ve spent over $6,500 on this card in about 70 days. Cash back is great and I can’t complain 💯

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Dec 05, 2018
American Express Cash Magnet Card
jbengle1 Cardholder

I applied, received my card, used it for $1000 worth of purhases in less than three months but was denied $150 bonus,

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1 Reply
Dec 06, 2018

did they tell you why you were denied ?

Dec 03, 2018
grace2017 Cardholder

Approved instantly 5k. I have already recieved the bonus! Great card for cashback!

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Dec 03, 2018
Was let down.
Garda Cardholder

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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1 Reply
Dec 08, 2018

Can I ask what other card company you applied for? I'm wanting to do a balanced transfer only. Thx

Nov 29, 2018
WarCulture Cardholder

68% utility, scores around 663, approved for 2k. The web management system is up to par and easy to navigate. I practice AZEO now so my utility has gone down significantly and I should be good for an increase in 61 days

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Nov 29, 2018

Hi you get your utilization down to 10% your score will really go up.

Nov 29, 2018

Yes indeed. AZEO = All at zero except one, this is in reference to utilization, the one card that reports is usually at <8%, at the time I applied for this card I had taken 3 trips prior. </p>

Nov 26, 2018
Awesme card
mehdi016 Cardholder

Generous limit !!

I only have 10 months credit history, 717 and 716 credit score. I received pre-approval in the mail and wasn't expecting an instant approval, but i was approved in 30sec with 10k limit. i'm so happy !! thank you Amex and Credit Karma.

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1 Reply
Nov 29, 2018

I wish i can get pre-approvals in the mail not sure why i don't.

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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 and typical low score to the 5th 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 June 2014 through November 2014. 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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American Express Cash Magnet™ Card

84 Reviews
Cardholders' Choice i