Amex Blue Cash Everyday Card vs. Amex Cash Magnet Card [Detailed Comparison]

Generally, not a lot of thought goes into everyday spending. We stop and fill up our tank with gas, grab a bite to eat from a drive-thru, then perhaps pick up necessary items at the grocery store. These transactions can become routine, likely without the realization that your purchases could be generating valuable, usable rewards.

If you’re currently missing out on rewarding your everyday purchases, we’d like to share several possible vehicles for changing that scenario.

Having a rewards-earning credit card that earns cash-back on every purchase you make is a smart, simple choice that can result in extra cash you can use to offset your purchases, accumulate vacation funds, or save for a large purchase.

And while the decision to start earning rewards may be simple, selecting the right card for doing so may not be.

Don’t worry, we’ll get you started by comparing 2 popular cards that can earn cash-back on common everyday purchases and more. We’ll look at the earnings and benefits of each card, and then suggest a couple of other everyday earning cards that also serve the purpose well.

Let’s get started learning about our featured cards, the Blue Cash Everyday^® Card from American Express and the American Express Cash Magnet^® Card.

Update:The American Express Cash Magnet^® Card is no longer open to new applicants.

Overview

Nothing beats a side-by-side comparison to get quickly to the bottom line and determine which card might be the better fit for you.

Here’s how the Amex Blue Cash Everyday card and the Amex Cash Magnet card align when we look at earnings and benefits.

*Some of the benefits mentioned above may require enrollment.

Welcome Offer Comparison

Welcome bonuses and card pricing change periodically, but you can generally expect to see a welcome bonus on each of these cards after meeting minimum spending requirements in the first 3 months after card approval.

Terms Apply / Rates & Fees

American Express Cash Magnet^® Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

*The information regarding the American Express Cash Magnet^® Card has expired, and the card is no longer open to applicants.

All information about American Express Cash Magnet^® Card has been collected independently by Upgraded Points.

Apply With Confidence

Know if you're approved with no credit score impact

If you're approved and accept this Card, your credit score may be impacted.

American Express Cash Magnet^® Card

*The information regarding the American Express Cash Magnet^® Card has expired, and the card is no longer open to applicants.

Welcome Offer

No offer available.

No offer available

Annual Fee

$0

APR

0% on purchases for 15 months, from account opening,Ongoing APR: 19.24%-29.99% variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent (670-850)

Why We Like This Card

The information regarding the American Express Cash Magnet^® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. 

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Those who are looking for a simple and straightforward cash-back credit card will love the American Express Cash Magnet^® Card. With no annual fee to worry about and no bonus categories to fuss over, you can have the peace of mind knowing that you’re earning cash-back rewards on every purchase — without needing to pay anything out of pocket.

Pros & Cons

Pros

• 1.5% cash-back on all other purchases
• No annual fee
• Rental car insurance

Cons

• 2.7% foreign transaction fees
• No category specific bonus categories

Read Full Review

Card Highlights

• No welcome offer available.
• Unlimited 1.5% Cash Back on your purchases.
• Plan It^® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee.
• Amex Offers rewards you at places you like to shop, dine, travel, and more. You can add as many Offers as you’d like to your Card, then just use that Card to pay, and enjoy rewards directly on your statement.
• Cash Back is received in the form of Reward Dollars that can be redeemed for statement credits.
• No Annual Fee.
• Terms Apply.

Financial Snapshot

• APR: 0% on purchases for 15 months, from account opening,Ongoing APR: 19.24%-29.99% variable
• Foreign Transaction Fees: 2.7% of each transaction after conversion to U.S. dollars.

Terms Apply / Rates & Fees

Blue Cash Everyday^® Card from American Express

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This cash-back card offers a capped 3% at U.S. supermarkets, 3% at U.S. gas stations, and 3% on U.S. online retail purchases!

Apply Now(at Amex's secure site)

Apply With Confidence

Know if you're approved with no credit score impact

If you're approved and accept this Card, your credit score may be impacted.

Blue Cash Everyday^® Card from American Express

This cash-back card offers a capped 3% at U.S. supermarkets, 3% at U.S. gas stations, and 3% on U.S. online retail purchases!

Welcome Offer

Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.

$200

Annual Fee

$0

APR

18.24%-29.24% Variable,0% on purchases for 15 months

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent (670-850)

Why We Like This Card

When it comes to cash-back credit cards, there are dozens of options to choose from. So what sets the Blue Cash Everyday^® Card from American Express apart from the rest?

This card is excellent at earning cash-back on your everyday purchases at U.S. supermarkets, U.S. gas stations, and on U.S. online retail purchases. So if you regularly spend money on everyday purchases, this could be the perfect card to add to your wallet.

Pros & Cons

Pros

• 3% back on purchases at U.S. supermarkets on up to $6,000 in purchases each year, then 1% back after.
• 3% back on purchases at U.S. gas stations on up to $6,000 in purchases each year, then 1% back after.
• 3% back on purchases on online retail purchases on up to $6,000 in purchases each year, then 1% back after.

Cons

• Rewards are not flexible and can only be redeemed for cash-back. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.

Read Full Review

Card Highlights

• Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
• No Annual Fee.
• Enjoy 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. After that, 18.24% to 29.24% variable APR.
• 3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%.
• 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%.
• 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%.
• Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
• Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Everyday^® Card. Enrollment required.
• Enjoy up to $15 back per month when you purchase a Home Chef meal kit subscription (subject to auto renewal) with your enrolled Blue Cash Everyday^® Card.
• Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
• Terms Apply.

Financial Snapshot

• APR: 18.24%-29.24% Variable,0% on purchases for 15 months
• Foreign Transaction Fees: 2.7% of each transaction after conversion to US dollars.

Earning Reward Dollars

Both the Amex Blue Cash Everyday card and Amex Cash Magnet card earn cash-back in the form of Reward Dollars.

We’ll discuss redeeming Reward Dollars shortly, but first, let’s see how the cards compare when it comes to earning on your everyday purchases.

If you want simplicity, the flat 1.5% cash-back on every purchase with the Amex Cash Magnet card checks that box.

However, that simplicity could come at a cost if you spend frequently at U.S. supermarkets, U.S. gas stations, and U.S. online retailers. If you spend heavily in those categories, the Amex Blue Cash Everyday card is the better choice in most cases.

Redeeming Reward Dollars

You’ll earn cash-back for your purchases on either card in the form of Reward Dollars that can be redeemed for cash-back statement credits.

In addition to statement credits, Reward Dollars can be redeemed for gift cards or merchandise, but you may receive far less value.

Bottom Line: While there’s certainly something to be said for the Amex Cash Magnet card’s simplicity of earning and redeeming rewards, the Amex Blue Cash Everyday card delivers far more earnings if your greatest spending is at supermarkets, on gas, and at department stores. 

Travel Protection and Benefits Comparison

You’ll find a short list of travel benefits and protections that come with each of our featured cards.

Secondary Car Rental Insurance

Reserve and pay for your entire rental car contract with either card, decline the rental car agency’s CDW or LDW coverage, and receive protection if the rental car is damaged, stolen, or for loss-of-use charges.

Secondary coverage means that you must first file a claim with your own car insurance company, if you have one, before your card coverage applies.

Access to Premium Car Rental Protection

One benefit of having most American Express cards, including the 2 cards we’re highlighting today, is access to Amex Premium Car Rental Protection. For just one low fee that ranges from $12.95 to $24.95 per rental period (not per day), you can secure rental car coverage with primary rental car protection.

Coverage is worldwide, with a few exceptions, covers up to 42 consecutive days, and provides up to $100,000 in coverage for damage and theft. The coverage also does not have a deductible.

Lowest Hotel Rates Guarantee

Book a prepaid qualifying hotel through AmexTravel.com and if you find the same hotel room advertised for less, you could receive the difference.

Global Assist Hotline

Use the Global Assist Hotline to help you plan your trip with customs information, currency exchange, and more. When traveling more than 100 miles from home, you’ll also have access to emergency assistance, including medical and legal referrals, emergency transportation, lost passport service, and help with other travel disruptions you might experience.

Shopping Protection and Benefits Comparison

Both of our featured cards come with key shopping perks that can save you money and provide protection when purchasing eligible items with your card.

Amex Offers

Receive special Amex Offers posted to your online credit card account. Amex Offers can be quite lucrative, saving you hundreds of dollars on purchases you make with featured retailers. You must add the offers to your card in your account to take advantage of them.

Purchase Protection

It can be frustrating when a newly purchased item gets accidentally damaged or stolen. If you purchased the eligible item with either of these cards, you may be able to receive a benefit of up to $1,000 per item, a maximum of $50,000 per card.

ShopRunner Membership

You’ll enjoy free returns, free 2-day shipping, and access to special offers with over 100 retailers with a complimentary ShopRunner membership that normally costs $79 (enrollment required).

Entertainment Access

Receive priority access to presale event tickets, preferred seating, and invitations to special events and experiences.

Statement Credits Comparison

Amex Blue Cash Everyday Card

The Amex Blue Cash Everyday card comes with 2 monthly statement credits that can really add to the value of the card:

• The Disney Bundle — Use your card to spend at least $9.99 per month on an eligible Disney Bundle subscription, which includes Disney+, Hulu, and ESPN+, and receive a $7 statement credit each month. Enrollment is required. Valid only at DisneyPlus.com, Hulu.com, or Plus.espn.com in the U.S.
• Home Chef — Use your card to order online from Home Chef and receive up to $15 back each month (up to $180 annually). Enrollment is required.

Real-Life Use Cases

The Amex Blue Cash Everyday card and the Amex Cash Magnet card are nearly identical cards — except when it comes to earning rewards. Let’s take a look at a few spending mixes to see how the cards differ in this category:

Spending Scenario #1

• $10,000 at U.S. supermarkets
• $2,000 at U.S. gas stations
• $1,000 at U.S. online retailers
• $3,000 on travel

Let’s change the mix and see how the cards compare.

Spending Scenario #2

• $6,000 at U.S. supermarkets
• $1,000 at U.S. gas stations
• $1,500 at U.S. online retailers
• $1,500 on travel

Spending Scenario #3

• $15,000 in home appliances

The Amex Blue Cash Everyday card is strong when it comes to earning on everyday purchase bonus categories.

However, the Amex Cash Magnet card holds its own when it comes to non-bonus category purchases by earning 1.5% cash-back on every purchase.

Bottom Line: The biggest difference between the Amex Blue Cash Everyday card and the Amex Cash Magnet card is the earnings structure. Unless your spending is mostly on non-bonus categories, such as the furniture purchase example above, you could earn more cash-back with the Blue Cash Everyday card.

Alternative Cards

The Amex Blue Cash Everyday card and the Amex Cash Magnet card can both be decent choices for earning rewards. If you’d like to step things up a notch and realize even more earnings, we have a couple of recommendations.

Blue Cash Preferred^® Card from American Express

HIGHEST CASH BACK

Terms Apply / Rates & Fees

Blue Cash Preferred^® Card from American Express

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This card is great for those who want to earn cash-back with U.S. supermarkets, U.S. streaming subscriptions, transit, and U.S. gas stations.

Apply Now(at Amex's secure site)

Apply With Confidence

Know if you're approved with no credit score impact

If you're approved and accept this Card, your credit score may be impacted.

Blue Cash Preferred^® Card from American Express

This card is great for those who want to earn cash-back with U.S. supermarkets, U.S. streaming subscriptions, transit, and U.S. gas stations.

Welcome Offer

Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.

$250

Annual Fee

$0 intro annual fee for the first year, then $95.

APR

18.24%-29.24% Variable,0% on purchases for 12 months

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent (670-850)

Why We Like This Card

The Blue Cash Preferred^® Card from American Express is a stellar cash-back credit card for those looking to maximize every purchase they make.

With bonus categories like U.S. supermarkets, select U.S. streaming services, U.S. gas stations, and transit purchases, this card rewards you for the items you spend the most on in a big way! For those looking to earn up to 6% cash-back on their purchases, this could be the card for you!

Pros & Cons

Pros

• 6% cash-back at U.S. supermarkets (up to $6,000 per year)
• 6% cash-back on select U.S. streaming subscriptions
• 3% cash-back on U.S. gas stations and transit (including rideshares, parking, etc.)

Cons

• $0 intro annual fee for the first year, then $95 annual fee (rates and fees)

Read Full Review

Card Highlights

• Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.
• $0 intro annual fee for the first year, then $95.
• Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It^® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
• Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 18.24% - 29.24%.
• 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
• 6% Cash Back on select U.S. streaming subscriptions.
• 3% Cash Back at U.S. gas stations.
• 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
• 1% Cash Back on other purchases.
• Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
• $84 Disney Bundle Credit: With your enrolled Blue Cash Preferred Card, spend $9.99 or more each month on an auto-renewing Disney Bundle subscription, to receive a monthly statement credit of $7. Valid only at Disney Plus.com, Hulu.com or Plus.espn.com in the U.S.
• Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
• Terms Apply.

Financial Snapshot

• APR: 18.24%-29.24% Variable,0% on purchases for 12 months
• Foreign Transaction Fees: 2.7% of each transaction after conversion to US dollars.

Rewards Center

Redeem cash-back through your American Express account

While the Amex Blue Cash Preferred card does come with an annual fee, you’ll find the earnings on select everyday purchases much higher than either the Amex Blue Cash Everyday card or the Amex Cash Magnet card.

Why We Like the Card for Everyday Purchases:

• 6% cash-back at U.S. supermarkets, up to $6,000 per calendar year
• 6% cash-back at U.S. streaming services such as Netflix, Hulu, Pandora, Spotify, and more
• 3% cash-back on transit including taxis, ride-sharing services, and other transportation
• 3% cash-back at U.S. gas stations
• Travel and shopping benefits/protections

If you spend $6,000 a year at U.S. supermarkets, you’ll maximize the value of the Amex Blue Cash Preferred card. Additional earnings on streaming, transit, and gas purchases can result in an even greater value.

Read our Amex Blue Cash Preferred vs Amex Cash Magnet Card review to find out more on how these two cards compare.

American Express^® Gold Card

BEST FOR DINING

Terms Apply / Rates & Fees

American Express^® Gold Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This is the best card for food lovers who dine out at restaurants (worldwide), order take-out and want big rewards at U.S. supermarkets!

Apply Now(at Amex's secure site)

Apply With Confidence

Know if you're approved with no credit score impact

If you're approved and accept this Card, your credit score may be impacted.

American Express^® Gold Card

This is the best card for food lovers who dine out at restaurants (worldwide), order take-out and want big rewards at U.S. supermarkets!

Welcome Offer

Earn 60,000 Membership Rewards^® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.

60,000 points

UP's Bonus Valuation*:

$1,200

Annual Fee

$325

APR

See Pay Over Time APR

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent (670-850)

Why We Like This Card

The American Express^® Gold Card is a game-changer.

With this card, you can earn 4x Membership Rewards points at restaurants, up to $50,000 per calendar year, and you’ll also earn 4x Membership Rewards points at U.S. supermarkets on up to $25,000 per calendar year, then 1x.

There isn’t another card on the market that offers a 1-2 punch like this. Of course, there are several other benefits of the Gold Card as well, including extra monthly dining rewards and more.

Pros & Cons

Pros

• 4x points per dollar at restaurants worldwide, up to $50,000 per calendar year; then 1x thereafter
• 4x points per dollar at U.S. supermarkets, up to $25,000 per calendar year; then 1x thereafter
• 3x points per dollar on flights purchased directly from airlines or at AmexTravel.com

Cons

• $325 annual fee (rates and fees)
• No lounge access

Read Full Review

Card Highlights

• Earn 60,000 Membership Rewards^® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
• Earn 4X Membership Rewards^® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
• Earn 4X Membership Rewards^® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
• Earn 3X Membership Rewards^® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
• Earn 2X Membership Rewards^® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
• Earn 1X Membership Rewards^® point per dollar spent on all other eligible purchases.
• $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
• $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express^® Gold Card at U.S. Dunkin' locations.
• $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express^® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
• $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express^® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
• Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges with every booking of two nights or more through AmexTravel.com. Eligible charges vary by property.
• No Foreign Transaction Fees.
• Annual Fee is $325.
• Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
• Terms Apply.

Financial Snapshot

• APR: See Pay Over Time APR
• Foreign Transaction Fees: None

Rewards Center

American Express Membership Rewards

If you spend a lot at grocery stores, restaurants, and on airline tickets, you’ll enjoy great earning potential with the Amex Gold card.

The frequent traveler will also be pleased with the flexible options to redeem Membership Rewards points by transferring points to the Amex transfer partners or redeeming for travel directly via AmexTravel.com.

Why We Like the Card for Everyday Purchases:

• 4x earnings at U.S. supermarkets (limit of $25,000 each calendar year; 1x thereafter)
• 4x earnings at restaurants worldwide (limit of $50,000 each calendar year; 1x thereafter)
• 3x earnings on airline tickets purchased directly from the airline or via AmexTravel.com
• $10 per month in dining credits at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys (up to $120 per year)
• Up to $100 Resy credit ($50 semi-annually)
• Up to $84 in Dunkin’ credits ($7 a month)
• Flexible redemption options
• Travel and shopping benefits/protections

Enrollment is required for some credits.

Final Thoughts

American Express does a fine job of offering a wide selection of cards designed to reward everyday purchases.

Whether you’d prefer a card with no annual fee, such as one of our 2 featured cards, or are willing to pay an annual fee in return for higher earnings such as either of the 2 alternative cards, you have several options for ensuring your highest expenses earn rewards.

If you have a large purchase or purchases coming up, the Amex Cash Magnet card is a viable choice with 1.5% cash-back on those purchases and up to 15 months from card approval to repay those purchases over time without interest charges. You’ll also earn 1.5% on every other purchase you make.

Depending on your spending mix, you may want to consider other rewards cards in addition to these American Express-issued cards.

Check out our article on the best credit cards for each spending category to find even more options for earning the most rewards on your most significant expenses.