American Express Cash Magnet® Card

Overall card rating

3.3
287 Reviews
from Credit Karma members

Most Helpful Positive Review

Apr 21 2019
Great Card
Credit Karma Member

Okay, so I did not want to rush and write a review after my first impresssion, since it was not a good one. Allow me to elaborate. After spending two years repairing my credit and with a CS of 650 at the time, I applied for this credit card because A)CK said I had good approval odds, B) I was sent a pre-approval letter for another one of their cards, so I figured I had good chances, and C) this card has a cash bonus offer when I applied( $150 if I remember correctly) after spending only $1000 within your first three months. Although I did get approved instantly for $1k, they failed to inform me that i did not qualify for the cash bonus offer due to my credit score. Honestly, had I known this before, I woud not have applied. I then found myself with a credit card from a company that I resented already, but used it anyway for everyday purchases such as groceries, gas, and other bills always making sure to pay it off as soon as the charge was posted, always keeping a SUPER LOW balance. They have increased by CL twice since, and I have accumulated a significant amount of reward dollars and you can use them towards a lot of cool things, not just statement credit. They also have offers that you can add on your card to get cash back when purchasing from certain stores, restaurants and hotels(Levi's, Lulu's, Omni Hotels, CPK, MAC, Ray-Ban, etc) This absolutely changed my perspective and although it would have been nice to be eligible for that sign up bonus, this has become my go-to card. RE Customer Service: I initially called them when I spend my first $1000 to find out why the credit was not posted. They answered quickly and the operator was very efficient and clear about the procedure of opening the inquiry. I received a call back the next morning. I was in class so I did not answer and they left me a message. I was very impressed they called me and I did not have to be pursuing them to get the answers I needed. They did not have a resolution at that time, but they wanted to let me know they were looking into it and someone would call me. I did receive a call a couple of days later with the dissapointing news I mentioned above. Although I feel the offer was misleading, their service was outstanding and I have zero complains.


Most Helpful Negative Review

Jun 14 2019
EXTORTION
Credit Karma Member

Last time I ever use a AMEX card, was originally approved for 8k. Now after a few months they randomly decide to lower my CL on multiple cards to obscene amounts forcing my accounts to their max. After I called them to ask what's going on they are demanding early payment on the balance in exchange for the credit limit back. THIS IS EXTORTION. I WILL NEVER USE AMEX AGAIN. I used to rave about Amex customer service and features, now I will tell everyone to stay away for the EXTORTIONIST company AMEX.


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May 04 2020
Credit Karma Member


Apr 19 2020
Fast Approval 25k
Credit Karma Member

I wasn't thinking about at first I was reading reviews some customer had negative reviews. I have an American Express Gold already. So I apply I was approval for 20K in seconds Credit score 790-832. Just use if you got cash to paid back quickly. Call be responsibility don't live above means. Good Cash back remember you control you Credit. Please be positive.


Mar 23 2020
Great card
Credit Karma Member

FICO before applying was 725, got approved for $3k, not bad but ill apply for a CLI after 3 mo's. 2nd AMEX card in my wallet, both are great. Highly recommend it. Personally think it's a great starter card for people who aren't part of the AMEX family yet. Got my sign on bonus right away in the form of a statement credit. I just save all the cash back until I need to make a big purchase or something. Highly highly recommend.


Mar 22 2020
It worked for me!
Credit Karma Member

I got the card last yr in July, I used it as agreed, spent over $1,000 and paid it off during the promotional time of zero interest. I got the $150 bonus applied to my bill. I don't know if people think the bonus will be paid to them. Is not as it is given as a form of a credit to the balance owed on the card. I am happy with Amex.


Feb 28 2020
Easy appl process, ok initial CL
Credit Karma Member

Got approved with good credit, initial limit was $2000; after 6 months paying on time, Amex raised limit to $5000; accepted everywhere I've used it, impressed with website, great card to have!


Feb 16 2020
Not as advertised.
Credit Karma Member

Excited to apply for this card because I already had a card with them and a great experience. Additionally it had a 0% promotional rate and a welcome bonus which after meeting the requirements and inquiring about the bonus and 0% expiration found out that while I had gotten approved they would not honor these sign up bonuses. I've openned a case to investigate and will hear back in two billing cycles. I've read through the fine print in the promotional offer and did not find the disqualifiers that the customer service representatives said applied to me. I've looked into other case and it seems like others are in the same boat as me.


Feb 03 2020
Absolutely the best
Credit Karma Member

I have had nothing but great experiences with all of my American Express Cards. Customer Service people are very helpful and very polite. Highly recommend these products.


Jan 04 2020
easy to get, low credit limit
Credit Karma Member

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.


Dec 31 2019
American Express works with you.
Credit Karma Member

I only had fair credit when I applied and was given a decent credit line of 4k. Within a year and a half of timely payments I have more than doubled that. Rewards are good, too, bit they really came through for me when I needed them. Thank you, Am Ex!


Dec 28 2019
Amex Cash Magnet
Credit Karma Member

I applied for the card. It offered 15 months 0% intro APR and $150 bonus when I spend whatever amount it was in next three months. I was approved. I received in the mail the card, but no intro APR, no bonus given. I called and they said I was not approved for the offer. That's a scam. Also they decreased my limit on my Amex blue to half the amount, and this was basically what they gave me on the "new" card with HIGHER APR. I would be careful with AMAX if you try to get second card. I did not approve any of their changes to my accounts!!!

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American Express Cash Magnet® Card

American Express Cash Magnet® Card


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