American Express Cash Magnet™ Card Reviews

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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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3 star reviews (6) See All

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

Jan 15, 2019
Good Flat Cash Back, High % Rate
meillasdad Cardholder

We already have the Blue Card Preferred, and keep a low limit on it, so when they approved us for $2k that was alright by me. I have a 731 score. The only issue is the interest rate is really high, so we can never revolve the debt on this card once the 0% is over.

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Jan 04, 2019
Nothing special
AJPenn Cardholder

I had scores of 700 and 702, approximately 20% usage, excellent approval odds. I was approved for 4200. I called about this and was shrugged off. I have another amex card with a 15000 limit so I was expecting a high limit. I did not get hit with a hard inquiry because I had an existing amex account. Came with the rewards as promised. 150 for the first 1000 spent. And another 100 if you can spend 6500. Not a very useful card to be honest.

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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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Dec 08, 2018

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

 
Dec 28, 2018

Yes, I want to know as well. What card was it?

 
Oct 10, 2018
Risell07 Cardholder

Just 3200 with excellent score, decreased money from other American Express I have and put it in the new one, when called them then increase at 5000

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Oct 03, 2018
Not Worth It !

American Express is very fickle ! I had this card for a while but it doesn't offer the perks my Chase Reserve and Capital One QuickSilver. But to each is own on what they prefer. I will let you know their Customer Service is spot on. But I bit the bullet on my CBR and cancelled my membership. They tried everything and every offer to keep me, but I gracefully declined

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Aug 23, 2018
Pros and Cons

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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Sep 01, 2018

U could always cycle through the credit line u know charge 750 pay it off and charge the other 750 and there u go 1500 spent...

 
Sep 06, 2018

What do you mean you can’t get the bonus? I have a few cl with them $1k and got the bonuses. Just keep spending and pay the full abalance off multiple times during cycle

 
Sep 16, 2018

How do I do a balance transfer?

 
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‡ 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

6 Reviews
Cardholders' Choice i