American Express Cash Magnet® Card

Overall card rating

3.3
283 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

Jul 27 2018
Not worth the credit ding
Credit Karma Member

Applied for this card with 740 credit score 100 o/o payment history over 8 yrs. 0 derogatory remarks. Excellent approval odds said credit karma and got approved for $500. Something is very much wrong. My credit score is truly very good. Will never use this card.


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Dec 11 2019
Great card-I use it for all purchases
Credit Karma Member

I have had this card for a year. I love it. I got the welcome bonuses when I was told I would and the cash back is awesome! Glad I went with it..


Dec 10 2019
Awesome
Credit Karma Member

Great card, I got this card with a small CL because of my score then after 9 months they bumped me up to double. Best card I owe, service is amazing and so is Amex overall. Get this card


Dec 06 2019
Was denied having a credit score of 740
Credit Karma Member

Was denied with a pre aproved promo having 740 score


Sep 22 2019
Best first step into the world of Amex!
Credit Karma Member

American Express is the BEST to deal with! They really stand behind the product and put customers first. I can't say the same about some of the other credit cards that I have. I would highly recommend this card to anyone. Thank you credit karma for suggesting this one to me!


Sep 18 2019
Not worth it
Credit Karma Member

Not happy with the result even though im approved. approved amount was very low. other credit card approved me with a lot higher amount.


Sep 18 2019
not worth it
Credit Karma Member

Not happy with the result even though im approved. Have high credit score. Waste of time applying.


Sep 09 2019
It was oK
Credit Karma Member

I changed to a different card.


Sep 09 2019
We shall see
Credit Karma Member

749/745 score and CK said "very good odds" for approval. I applied and was given a $15,000 credit limit right away!


Sep 07 2019
Denied with a 780 TU and a 743 EQ
Credit Karma Member

While it isn't a crime to have too many credit cards, Amex denied me becasue I opened too many new accounts recently. In hindsight I probably should have applied for this one first before getting the few others that I applied for before that. So I'll give it 6 months, maybe a year, and I'll try again.


Sep 06 2019
Have paid no interest & on auto draft.
Credit Karma Member

I have capital one venture one that seems to charge daily interest even when I pay balance off each month. This American Express has been my go to. Capital one doesn't even give full value on rewards when getting gift cards or applying rewards for statement credits, but both of my American Express cards do.

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American Express Cash Magnet® Card

American Express Cash Magnet® Card


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