American Express Cash Magnet® Card Reviews

American Express Cash Magnet® Card Reviews
3.2 out of 5 stars
57 Reviews

From Cardholders in the last year


Application Process

4 out of 5 stars

Customer Service

3.5 out of 5 stars

3 5

Card Details

  • Balance Transfer Intro APR 0% for 15 Months
  • Balance Transfer Regular APR 14.49% - 25.49%* Variable
  • Annual Fee $0
  • Purchase Intro APR 0% for 15 Months
  • Purchase Regular APR 14.49% - 25.49%* Variable

3 star reviews (8) See All

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

Jan 04, 2020
easy to get, low credit limit
Angelinas72 Cardholder

i have 10 cc's never a missed payment, always pay full amount off before pmt due on any of them, had a score of 746 when i applied got 2000 cl big deal, sites easy to use but u cant use ur cash back till its 25 or more, no biggy, i never call cs on any of my cards so cant say if their cool or not. Gave 3 stars for the low credit limit, discover gave me 8500 w/a lower score. 

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Jan 05, 2020

What discover card did u get that 8500 limit on?

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.

Jan 17, 2020

Also if the Amex is most or even more recent approval
it can cause algorithm to present a lower limit because u now have potential to charge up a storm.

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


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?

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American Express Cash Magnet® Card Reviews

American Express Cash Magnet® Card