American Express Cash Magnet® Card

Overall card rating

282 Reviews
from Credit Karma members

Most Helpful Positive Review

Apr 21 2019
Great Card
Credit Karma Member

Okay, so I did not want to rush and write a review after my first impresssion, since it was not a good one. Allow me to elaborate. After spending two years repairing my credit and with a CS of 650 at the time, I applied for this credit card because A)CK said I had good approval odds, B) I was sent a pre-approval letter for another one of their cards, so I figured I had good chances, and C) this card has a cash bonus offer when I applied( $150 if I remember correctly) after spending only $1000 within your first three months. Although I did get approved instantly for $1k, they failed to inform me that i did not qualify for the cash bonus offer due to my credit score. Honestly, had I known this before, I woud not have applied. I then found myself with a credit card from a company that I resented already, but used it anyway for everyday purchases such as groceries, gas, and other bills always making sure to pay it off as soon as the charge was posted, always keeping a SUPER LOW balance. They have increased by CL twice since, and I have accumulated a significant amount of reward dollars and you can use them towards a lot of cool things, not just statement credit. They also have offers that you can add on your card to get cash back when purchasing from certain stores, restaurants and hotels(Levi's, Lulu's, Omni Hotels, CPK, MAC, Ray-Ban, etc) This absolutely changed my perspective and although it would have been nice to be eligible for that sign up bonus, this has become my go-to card. RE Customer Service: I initially called them when I spend my first $1000 to find out why the credit was not posted. They answered quickly and the operator was very efficient and clear about the procedure of opening the inquiry. I received a call back the next morning. I was in class so I did not answer and they left me a message. I was very impressed they called me and I did not have to be pursuing them to get the answers I needed. They did not have a resolution at that time, but they wanted to let me know they were looking into it and someone would call me. I did receive a call a couple of days later with the dissapointing news I mentioned above. Although I feel the offer was misleading, their service was outstanding and I have zero complains.

Most Helpful Negative Review

Jul 27 2018
Not worth the credit ding
Credit Karma Member

Applied for this card with 740 credit score 100 o/o payment history over 8 yrs. 0 derogatory remarks. Excellent approval odds said credit karma and got approved for $500. Something is very much wrong. My credit score is truly very good. Will never use this card.

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May 04 2020
Credit Karma Member

Mar 23 2020
Great card
Credit Karma Member

FICO before applying was 725, got approved for $3k, not bad but ill apply for a CLI after 3 mo's. 2nd AMEX card in my wallet, both are great. Highly recommend it. Personally think it's a great starter card for people who aren't part of the AMEX family yet. Got my sign on bonus right away in the form of a statement credit. I just save all the cash back until I need to make a big purchase or something. Highly highly recommend.

Mar 22 2020
It worked for me!
Credit Karma Member

I got the card last yr in July, I used it as agreed, spent over $1,000 and paid it off during the promotional time of zero interest. I got the $150 bonus applied to my bill. I don't know if people think the bonus will be paid to them. Is not as it is given as a form of a credit to the balance owed on the card. I am happy with Amex.

Feb 28 2020
Easy appl process, ok initial CL
Credit Karma Member

Got approved with good credit, initial limit was $2000; after 6 months paying on time, Amex raised limit to $5000; accepted everywhere I've used it, impressed with website, great card to have!

Feb 03 2020
Absolutely the best
Credit Karma Member

I have had nothing but great experiences with all of my American Express Cards. Customer Service people are very helpful and very polite. Highly recommend these products.

Dec 28 2019
Amex Cash Magnet
Credit Karma Member

I applied for the card. It offered 15 months 0% intro APR and $150 bonus when I spend whatever amount it was in next three months. I was approved. I received in the mail the card, but no intro APR, no bonus given. I called and they said I was not approved for the offer. That's a scam. Also they decreased my limit on my Amex blue to half the amount, and this was basically what they gave me on the "new" card with HIGHER APR. I would be careful with AMAX if you try to get second card. I did not approve any of their changes to my accounts!!!

Dec 28 2019
This card is great.
Credit Karma Member

Not only is this card great, American Express is probably the best, most professional, most respected credit card company out there. They are for a reason. Top of the line product with top of the line customer service. You can't go wrong here. Can highly recommend.

Dec 25 2019
Waste of time
Credit Karma Member

I have a excellent credit score, but they still refuse to raise my limit. Even after paying the balance down to 0 several times. I have other cards with 10 times the limit this one has. I have requested a limit increase twice. And was refused. When every credit card I have raises my limit each time I ask. My CC use is now at 5%, and still nothing. My initial reason for applying for this card, was to replace all my others, and consolidate into one. I am very disappointed. I can get a higher **** credit limit at freakin CHUCKY CHEESE

Dec 15 2019
Great rewards and offers!
Credit Karma Member

Received awesome promotions through American Express and I'm flabbergasted but don't have a 5-star rating.

Dec 11 2019
Great card-I use it for all purchases
Credit Karma Member

I have had this card for a year. I love it. I got the welcome bonuses when I was told I would and the cash back is awesome! Glad I went with it..

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American Express Cash Magnet® Card

American Express Cash Magnet® Card

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