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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3 star reviews (9) See All

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

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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Aug 24, 2019

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

 
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..!

 
Aug 03, 2019
754 credit score 9% utilization
Jadesalvatore Cardholder

No neg 

scores 754, 768, 792

tiny 1000$ limit 

not worth the inquiry

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Aug 19, 2019

I guess that's the way they're doing business now... 756 and 0 utilization when I applied...

 
Sep 03, 2019

HI after 6 months you can ask for a cli of 5000 i did.

 
May 26, 2019
Low credit limit $2,000 w/a score of 775
Angelinas72 Cardholder

easy to get the card but they gave me a low credit limit, discover gave me 6gran w/a credit score of 655, chase gave 3400 w/a 775 score, discover is the better card.

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Jun 05, 2019

It should go up. Maybe even over the other cards limits. Things change.

 
Mar 22, 2019
Easy to apply for

Beware that the Transfer Limit is 5,000

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Mar 30, 2019

Was the balance transfer free or did it come with a fee? Thanks in advance.

 
Mar 11, 2019
Kcogochukwu Cardholder

I was given a limit of $2000 paid it off every month but the best feature would be the 0% apr for 18months. Other than that, it’s just another credit card

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Jan 29, 2019
Applied to transfer balances

So I applied and got accepted and will recieve my card in about 3-5 days. The reason I applied was to consolidate my current AMEX and MS account only to find out that I can't transfer my AMEX account because, well duh me, it is an AMEX card. So, I am now the proud owner of another AMEX. Which is FINE but it would have been nice to have known that before I applied.

Once again, nice that it's 0% apr for 15 months but, ya know. Trying to get that credit score up and this now dings me for about another month or so.

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Jan 30, 2019

You are loaded with AMEX. Creditors seeing our account with all those AMEX lucky *******.

 
Jan 30, 2019

*your

 
Feb 02, 2019

How much was the balance transfer offer ? Looking to apply but afraid the card will only approve a certain amount.

 
Mar 17, 2019

I used to work for a credit card company. A way to get around the rule of not transferring a balance to another AMEX is to have AMEX send you a balance transfer check from your new account. Write the check to yourself, cash it and pay off your old AMEX card. Viola! You’ve done a BT from one AMEX card to another. It’s not a fast process, but it works!

 
Apr 20, 2019

What is the abbreviation MS?

 
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 27, 2019

Just keep in mind this is a REWARDS CARD....almost always high interest rates on cards like these...should of went for a card like the Slate card or other non rewards card for a better rate.

 
Feb 06, 2019

I’m confused so when you get the balance to $0 then what?

 
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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American Express Cash Magnet® Card Reviews

American Express Cash Magnet® Card