Add cards to start comparing.

Compare Cards
Reviews
" " CompareCards says issuers are providing such generous deals, they're virtually irresistible for those willing to switch.

" " Those who always pay their balances in full and on time will usually come out ahead.

" " The offers on the credit card landscape are constantly changing which is great news for consumers.

" " 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.

" " CompareCards was one of three sites that met all the criteria.

Trusted & Secure
  • Empowering over
    50,000,000 card holders Since 2005

  • Norton Secured

American Express Cash Magnet™ Card

American Express Cash Magnet™ Card

An Advertising Partner

 

Rated 5/5 stars by our editorial team

Click the stars to submit your rating.

Thanks for rating!

Your Rating:

4.2/5.0 from 70 Offer Ratings
Over the Past 60 Days!

(70) Over the Past 60 Days!

  • Regular Purchase APR 14.99%-25.99% Variable
  • Intro Purchase APR 0% on purchases for 15 months
  • Intro BT APR 0% on balance transfers for 15 months
  • Annual Fee $0
  • Credit Needed

    Excellent/Good

  • Card Brand American Express

Card Details

Highlights

  • Click "APPLY NOW" to apply online
  • Earn up to $250 back. Here’s how: 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.
  • Plus, earn an additional $100 statement credit after you spend an additional $6,500 in purchases within your first 12 months.
  • 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 14.99% to 25.99%.
  • With Plan ItSM, you can set up a monthly payment plan for large purchases with a fixed monthly fee and no interest charges, all with the same rewards and protections you expect from American Express.
  • Over 1.5 million more places in the U.S. started accepting American Express® Cards in 2017.
  • 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 sign up bonus. Earn up to $250 back. Here’s how: 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. Plus, earn an additional $100 statement credit after you spend an additional $6,500 in purchases within your first 12 months. 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 14.99%-25.99% 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

  • star rating 5.0/5

    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 sign up bonus 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

  • star rating mask

Offer Rating

4.2/5.0

70 Total Ratings

5 Star
 
 
(36)
4 Star
 
 
(21)
3 Star
 
 
(9)
2 Star
 
 
(2)
1 Star
 
 
(2)

Your Rating

There is nothing we value more than the opinions of our customers. We encourage open discussions among all users and hope we can all share advice. Please keep our site clean and safe by following our posting guidelines and please, don’t disclose personal information like your credit card numbers or account information.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

+68 users submitted a rating without a full review

Sort by:

1 Found this review helpful

By: | Aug 13, 2018

Excellent Card Thanks American Express for give me This Card also i'm have another 5 Credit Card from American Express

75 Found this review helpful

By: | 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!

Back to top ↑