American Express Cash Magnet™ Card Reviews

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Approval Odds

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4.4 out of 5 stars
100 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

4.5 5

Card Details

  • Balance Transfer Intro APR 0% for 15 Months
  • Balance Transfer Regular APR 15.24% - 26.24%* Variable
  • Annual Fee $0
  • Purchase Intro APR 0% for 15 Months
  • Purchase Regular APR 15.24% - 26.24%* Variable
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2 star reviews (3) See All

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

Jan 05, 2019
Wouldn't do it if you paid me to use it!
Gunny8man Cardholder

American Express does not care abot card holders

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Jan 07, 2019

This is not a review. This is an opinion. This is completely useless to people applying for the card just to scare them off by someone who could have screwed himself over or got delinquent or became irresponsible in their finances.

 
Oct 14, 2018
Could be a good card
Real1too Cardholder

Was approved for card with a soft pull. But was only given a 2k CL.  Wanted to like the card but to take advantage of the bonus would have me at more than 50 percent utilization which is counterproductive. So when card came in the mail I called and cancel the card. Come on Americans Express card has potential to be great but your starting CL are a joke. 

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Oct 16, 2018

You could just prepay your balance..

 
Oct 21, 2018

You're crazy for cancelling. 2k easily becomes 6k after 60 days of having the card. No hard inquiry either. Ya done messed up, sir.

 
Oct 21, 2018

Yeah, my first one with a 1k credit line I still spent 1k in 3 mos and got the bonus. Paid a couple times a month. Not a smart move unless you plan on paying on that 1k forever

 
Oct 22, 2018

You got approved with a soft pull. That's almost unheard of. Amex is good with there CLI after 61 days. Not a great move. What are you going to do, it is what it is.

 
Nov 03, 2018

You get the bonus if you spend $1,000 in 3 months. Since your credit limit is $2,000 you could have easily spent less than 30% of your credit utilization in 3 months and gotten the bonus. (You would have to pay the balance off every month) Plus Amex is very good with credit limit increases. They are a good company. I too was approved with a soft pool from Amex

 
Nov 09, 2018

If you have a high utilization one month, then pay it off the next month. Your score will increase... A lot! That's from personal experience!

 
Oct 12, 2018
750 credit score

$2000 limit, useless

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Oct 13, 2018

Crazy I’m 750. Got 10k

 
Oct 19, 2018

It seems to be random. Got 25K CL on the blue cash card with an 802, then got a 10K limit recently on the Wells Propel with an 842 lol.

 
Oct 21, 2018

It's not random. Utilization % comes into play heavily, as does income-to-debt ratio. Amex's algorithms are fair, in fact, fairer than Chase's...and I LOVE Chase cards.

 
Oct 21, 2018

Got a total of 26k line with 3 amex cards with a 704. Very low debt to income and utilization though

 
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American Express Cash Magnet™ Card

3 Reviews
Cardholders' Choice i