Rated 4.5/5 stars by our editorial team
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3.9/5.0 from 11 Offer Ratings
Over the Past 60 Days!
Reviews
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CompareCards says issuers are providing such generous deals, they're virtually irresistible for those willing to switch.
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Those who always pay their balances in full and on time will usually come out ahead.
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The offers on the credit card landscape are constantly changing which is great news for consumers.
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In the future, the companies that will thrive are those able to give customers exactly what they want, the way they want it, when they want it.
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CompareCards was one of three sites that met all the criteria.
Trusted & Secure
-
Empowering over
50,000,000 card holders Since 2005 -
American Express Cash Magnet® Card
An Advertising Partner
- Regular Purchase APR 15.24%-26.24% Variable
- Intro Purchase APR 0% on purchases for 15 months
- Intro BT APR 0% on balance transfers for 15 months
- Annual Fee $0
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Credit Needed
Excellent/Good
- Card Brand American Express
Card Details
Highlights
- Click "APPLY NOW" to apply online
- Earn a $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership.
- Unlimited 1.5% Cash Back on your purchases.
- Cash Back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
- Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 15.24% to 26.24%.
- $0 plan fees for plans set up during your first 15 months of Card Membership with Plan It®, a feature that lets you split up big purchases into monthly payments with a fixed fee.
- You spoke, we listened. Over 1.6 million more places in the U.S. started accepting American Express® Cards in 2018.
- No Annual Fee.
- Terms Apply.
- See Rates & Fees
Card Fees
Foreign Transaction Fee 2.7% of each transaction after conversion to US dollars.
Balance Transfer Fee Either $5 or 3% of the amount of each transfer, whichever is greater.
Cash Advance Fee Either $5 or 3% of the amount of each cash advance, whichever is greater.
Penalty APR 29.99% Variable
Ongoing Information
Rewards Rate Unlimited 1.5% Cash Back on your purchases
Annual Fee $0
Additional Card Details
$0 Fraud Liability Yes
Auto Rental Insurance Yes
Extended Warranty Program Yes
Roadside Assistance Yes
Purchase Protection Yes
Travel Assistance Yes
Flight Accident Insurance Yes
Lost Luggage Reimbursement No
Concierge Service No
Expert Reviews
From the CompareCards.com Editorial Team
The American Express Cash Magnet® Card is a leading cash back credit card designed for consumers who want a simple, yet rewarding piece of plastic. To start off, this card comes with an industry leading welcome offer. $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership For ongoing rewards, cardholders earn unlimited 1.5% cash back on your purchases.
On top of the generous rewards offered by the American Express Cash Magnet® Card, cardholders will also enjoy intro APRs of 0% on purchases for 15 months on purchases and 0% on balance transfers for 15 months on balance transfers. That makes this card an excellent choice if you need to finance a big purchase over time or want to transfer a balance from another credit card to same money on interest. After the intro period is up, the ongoing APR will be 15.24%-26.24% Variable.
With the American Express Cash Magnet® Card you receive all these valuable perks and rewards and pay no annual fee. Finally, you can swipe your card confidently knowing that you're backed by the legendary American Express customer service and cardholder benefits.
Expert Reviews of the American Express Cash Magnet® Card
- 4.0
Regular APR
- 4.0
Intro APR
- 4.0
Fees
- 5.0
Benefits
4.5/5 Overall Rating
The Bottom Line
With an incredible rewards program, lengthy intro APRs and no annual fee, the American Express Cash Magnet® Card has something for every consumer to love.
The Good
The welcome offer on this card is among the highest we've ever seen for a no annual fee cash back card. Plus the new Plan It℠ feature is an excellent way to easily finance large purchases.
The Not so Good
Since this card does have a foreign transaction fee, you may want to refrain from using it overseas: 2.7% of each transaction after conversion to US dollars.
Editorial Note: This content is not provided by American Express. Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by American Express.
Consumer Reviews
Offer Rating
3.9/5.0
11 Total Ratings
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+9 users submitted a rating without a full review
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1 Found this review helpful
By: Khang Nguyen | Aug 13, 2018
Excellent Card Thanks American Express for give me This Card also i'm have another 5 Credit Card from American Express
77 Found this review helpful
By: Reid Darby | Jul 19, 2018
This card is amazing! I got it initially for the super long introductory periods that let me transfer my balances from other cards onto this card which has helped me start to pay off my debt! The Plan It feature has also been really really helpful for when I have to make big purchases as I am usually bad at keeping track of things like this. Thanks American Express!
Related Card Offers
- Welcome Offer $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.*
- Bonus Rewards NEW 6% Cash Back on select U.S. streaming subscriptions & 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more.
- Rewards Rates 1% back on other purchases*
- Annual Fee $95
- Credit Needed Excellent/Good
- Card Brand American Express
Highlights
- Click "APPLY NOW" to apply online or call 866-901-8258
- Earn a $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
- NEW 6% Cash Back on select U.S. streaming subscriptions.
- NEW 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 3% Cash Back at U.S. gas stations. 1% Cash Back on other purchases.
- You spoke, we listened. Over 1.6 million more places in the U.S. started accepting American Express® Cards in 2018.
- Low intro APR: 0% for 12 months on purchases and balance transfers, then a variable rate, currently 15.24% to 26.24%
- $95 annual fee.
- Terms Apply.
- See Rates & Fees
See additional details for Blue Cash Preferred® Card from American Express
- Welcome Offer 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.*
- Travel Perks Up to $200 per calendar year in baggage fees & more at one qualifying airline*
- Travel Perks No foreign transaction fees & exclusive airport lounge access*
- Annual Fee $550
- Credit Needed Excellent/Good
- Card Brand American Express
Highlights
- Click "APPLY NOW" to apply online or call 866-901-8258
- Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
- Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
- 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
- 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
- Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
- Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
- $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
- Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
- $550 annual fee.
- Terms Apply.
- See Rates & Fees
See additional details for The Platinum Card® from American Express
- Early Pay Discount Receive 1.5% discount for paying early*
- Pay Later Take up to 60 days to pay with no interest*
- Extra Perks No foreign transaction fees & no fee for extra employee cards*
- Annual Fee $0 introductory annual fee your first year, then $250.
- Credit Needed Excellent/Good
- Card Brand American Express
Highlights
- Click "APPLY NOW" to apply online
- Paying early pays off: Get a 1.5% discount when you pay early, with no cap on what you can earn back.
- Take up to 60 days to pay with no interest, if you pay your minimum due.
- Use the power of the Plum Card to buy big for your business.
- Unlock new opportunities with a spending limit that can grow with your business.
- Additional Employee Cards at no annual fee - and an early pay discount on employee spending.
- No Foreign Transaction Fees.
- Introductory annual fee of $0 for the first year, then $250
- Terms & Restrictions Apply.
- See Rates & Fees
See additional details for The Plum Card® from American Express
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