American Express Cash Magnet® Card Reviews

American Express Cash Magnet® Card Reviews
Approval Odds

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3.3 out of 5 stars
69 Reviews

From Cardholders in the last year

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ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4 out of 5 stars

Customer Service

3.5 out of 5 stars

3.5 5
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Most Helpful Positive Review

Mar 15, 2019
Easy application
CLAUDIA661 Cardholder

I applied for this card with an EX score of 729 and CK says I had Fair odds with a cs of 697. I went to their website to apply to make sure I got the welcome bonus. I was instantly approved for 2k. I think I got a low limit because I only have secured cards and this is my first unsecured one. I have secured BOA and Disco. No collections and a car loan I just payed off. Credit history 11 yrs. Hard Inquires 9. I live in California and 95% of the lenders are pulling Experian so my Experian inquries are terrible. Payment history is at 100% payed on time. Total accounts only 5. Keep your limit to 30% or less and you'll be just fine.

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Most Helpful Negative Review

Jun 03, 2019
Scam
Shezk Cardholder

I applied and received this card about 6 months ago... The first thing I was attracted to was the $150 welcome bonus offered when you spend $1,000 within the first 3 months. After spending WELL over $1,000 in less than the 3 months time frame I never received the welcome bonus or any information pertaining to it. After contacting customer service numerous times they are blatantly not honor the welcome bonus which is STILL posted/offered on all of their websites. Also you are not even able to redeem cash back until you have a minimum of $25 earned each time and many places don't even take American Express. I'm extremely dissatisfied with this card/company and I will no longer be using this card.

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

Sep 22, 2019
Best first step into the world of Amex!
bjdwashere Cardholder

American Express is the BEST to deal with! They really stand behind the product and put customers first. I can't say the same about some of the other credit cards that I have. I would highly recommend this card to anyone. Thank you credit karma for suggesting this one to me!

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Sep 09, 2019
It was oK
SDFIG Cardholder

I changed to a different card. 

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Sep 06, 2019
Have paid no interest & on auto draft.
Dbjs40 Cardholder

I have capital one venture one that seems to charge daily interest even when I pay balance off each month. This American Express has been my go to. Capital one doesn't even give full value on rewards when getting gift cards or applying rewards for statement credits, but both of my American Express cards do.

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Sep 05, 2019
Good
DsiS10 Cardholder

This credit card is very good although I did not receive the bonus due to my credit being low when I applied they increased my limit without me even telling them. I would recommend this card for building credit but please be aware most places don't take Amex so always have a backup that's like the mayor issue I have with Amex in general.

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Aug 30, 2019
I got the card i LOVE IT
blujay20 Cardholder

Hi i got this card i love it i got a cl 2$.

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Aug 30, 2019

That's Great. Congrats. I am planning to get one and wanted to ask what was your credit score at the time you applied for the card? Thanks

 
Sep 03, 2019

that was suppose to be 2k$ sorry about that people.

 
Aug 28, 2019
AMEX cash magnet, best card in wallet
Mrselman1967 Cardholder

Applied after approx 9 months of credit history.  Was approved in about 2 min for $4000, just recently ask for limit increase to $5000 and was approved immediately.  Awesome card, Thank you AMEX.

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Aug 30, 2019

Hi how did you do they how much you make a year what was your score?

 
Sep 01, 2019

That’s great. How much was your credit score at the time you applied for this card?

 
Aug 27, 2019
Beware888 Cardholder

BEWARE, deceptive and thieving business! Every card I’ve had with the 0 intro promo has never required me to pay during the promotional period. Had I known these LIARS would render this promotion I would have never applied for this now pointless card. 

Customer service is Nonexistent! Might as well be talking to a robot. NEVER will do business with AE ever again!

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Sep 13, 2019

I don't understand.. you are always required to make minimum monthly payments.. if you carry a balance after the promotional period ends.. you will be charged interest on all charges from day one.. all cards work this way..

 
Sep 21, 2019

Was going to make the same comment RickS111 made. The promotion wasn't "90 days with no payments" -- don't mean to hurt any feelings but this must be a young person without much credit history or experience.

 
Aug 23, 2019
Can't pay certain bills but still ok.
Jyws Cardholder

Will update my review once I receive my $150 bonus

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1 Reply
Aug 24, 2019

I got my $150 bonus yay! 5 star now...they did what they said they will do.

 
Aug 06, 2019
797 Excellent credit 2k approved
edrservices Cardholder

Waste of inquiry

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1 Reply
Sep 06, 2019

I had a different Amex card with a 10k limit, with a credit score close to yours, and was also approved for 2k. Was very disappointed. But after a year, my credit limit is over 7k. Will probably close it after promo Apr ends in December. Otherwise, it's a great card. Offers member services almost all other credit cards have phased out.

 
Aug 06, 2019
754 credit score 9% utilization
Jadesalvatore Cardholder

CK said approval odds were excellent, no pre approval from website though

scores 754, 768, 781

wanted for cash back but mainly for balance transfer of 5k

heard amex was generous with those with good credit scores and responsible usage

I have multiple cards with limits ranging from 5k-10k

only two cards with balances

no negs

long credit hx 

received a tiny 1000$ credit line

not worth the inquiry and will close acct as soon as card arrives 

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Aug 06, 2019

That's nuts some people with credit scores less then 680 are getting 10k limits but us higher 750 plus credit score people get less the. 2000 allowance its crap

 
Aug 06, 2019

Make sure you do not actually "close" the account, but keep it around because closed accounts make your credit look not so good. I keep my unwanted accounts as long as there is no annual fee cause apparently other creditors and lenders will take note on closed accounts.

 
Aug 07, 2019

Thanks for your feedback but closing an act would only affect me negatively if this account were older. Utilization would be affected barely since my available credit without this card is over 100k. Also Amex doesn’t report a new credit line until over month after applying for it so it probably won’t even be calculated in.

 
Aug 07, 2019

And I couldn’t care less if they look at my closed accounts they were all paid and in good standing for us with excellent credit they should be lining up to offer us their services they’re are not many of us and any bank would approve us, these mediocre limits show us whose not worth the trouble.

 
Aug 19, 2019

Just wondering if I was the only one heated about my 1k limit... I wanted to closer it, but my wife convinced me not to...

 
Sep 03, 2019

Hi did you call there recon line? amex dont just look at scores they check everything how i got this card is i have amex everday blue cash 0$ af card i had for 11 months befor that i started my credit with a cap one journey card.

 
Sep 13, 2019

Don't get mad at the computer..! Get an actual "live" person on the phone and you may get what you want..!

 
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American Express Cash Magnet® Card Reviews

American Express Cash Magnet® Card