American Express Cash Magnet™ Card Reviews

Cardholders' Choice i
Approval Odds

Sign up or log in to see your Approval Odds

4.4 out of 5 stars
100 Reviews

From Cardholders in the last year

Sign up or log in to see your Approval Odds

Add Review
My Saved Cards
Title
Welcome to My Saved Cards
Save and compare credit cards to find the best fit for you. All you need to do is find cards you like and check the Compare This Card box. When you’re ready to review, click the compare button that appears in this menu.

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
Collapse

Most Helpful Positive Review

Sep 02, 2018
Fast Approval $10k
hjjinc7 Cardholder

I was hesitant to apply reading the reviews. Equifax 738 TU 730 Experian 695; knowing that Amex uses Experian had me nervous. I already have one AMEX for my business so I decided to try it. I was approved immediately for $10k, my highest credit card to date. I have been rebuilding my credit for 3 long years and I will not stop until those scores are over 800. Thanks Credit Karma

i has excellent approval odds

more ...

Was this review helpful?

 

Most Helpful Negative Review

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.

more ...

Was this review helpful?

 

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

Jan 20, 2019
Easy to apply for and excellent outcome.
GPM18 Cardholder

Applied for this card as a backup in case my one and only card says "Not Approved" in error at a store.  Applied and in less than 1 minute was approved for $18,600.  Registering,  and their home account are easy and awesome to work with.  I made a good choice with this card.

more ...
Jan 19, 2019
Apply ONLY on their website!
MMSLUSS1 Cardholder

Great card, quick approval, BUT some intro offers only apply if you apply on their website, don't apply through Credit Karma. Instant approval for 6k with 692 score.

more ...
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.

more ...
Jan 14, 2019
useless
Taped Cardholder

I have 802/797 and approved for $1k asked for $1001 and denied LOL they can keep it

more ...

Was this review helpful?

 
1 Reply
Jan 15, 2019

How many credit cards do you have? I have 927465 credit cards too!

 
Jan 13, 2019
Larlar4343 Cardholder

Overall a good card. The promotional rewards is easy to acquire with only 1000 over 3 months. Plus the financing.

more ...
Jan 11, 2019
Quick approval!
jhines2982 Cardholder

Had always thought having am American Express card was kind of a status symbol. I have been reading the reviews and seen credit scores higher than mine get small credit limits, so needless to say I was hesitant about applying. After a rough start to my credit history, I finally got everything on track and felt comfortable enough to give it a go. To my surprise I was approved instantly for 15K!!!  Im super excited to get this card in the mail. This was the last piece of completing my credit profile goals. 

more ...
Jan 11, 2019

What were your scores roughly

 
Jan 11, 2019

Congrats! Now just like with all other credit cards, after a year or so card companies lower credit limits without warning, just play with it and dont flip out. They boost them back up again or if not just get used to a reasonable spending limit.

 
Jan 08, 2019
Hooked!
queenb1999 Cardholder

I already have the Blue Cash Everyday. If you already have an AMEX card you can only apply for another on the AMEX site at least that was my experience. I applied for the Magnet card and was approved for 10k. With that I was able to transfer my Cap 1 balance! My credits scores are in the mid 700s but my utilization is 4% overall. Utilization counts. History with them definitely counts! With 2 Caps, 2 AMEX, 1 Discover, 1 Citi, I am now offically done!

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

American Express does not care abot card holders

more ...

Was this review helpful?

 
1 Reply
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.

 
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.

more ...
Jan 02, 2019
Terrible
Galegrem1348 Cardholder

Was given a 10000 line tried once to use was denied because was using 3000 on one purchase they want you to use on multiple purchases cancelled card immediately don't bother

more ...

Was this review helpful?

 
1 Reply
Jan 02, 2019

Why didn't you do a large purchazse like buy a house for a million dollars?

 
Add a Review

Add Your Review

I Own It I Had It I Applied

Please state your experience.

How would you rate this card overall?

Please select a rating

What should others know about this card?

Optional

How was application process?

How was customer service?

See Your Approval Odds Before You Apply

Sign up for a free membership, and Credit Karma can estimate your chances of approval based on your credit profile. You’ll also get:

  • Credit scores and reports
  • Credit monitoring
  • Personalized recommendations

See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the 'Apply Now' button, you can review the credit card terms and conditions on the provider's website.

† Credit Karma looks at how your credit profile compares to other Credit Karma members who were approved for this product. Of course, there's no such thing as a sure thing, but knowing whether your Approval Odds are Very Good, Good, Fair or Poor may help you narrow down your choices.

‡ 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.

The ratings and reviews are brought to you by our users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.

 

American Express Cash Magnet™ Card

100 Reviews
Cardholders' Choice i