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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.
4
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No offer available
$0
0% on purchases for 15 months, from account opening,Ongoing APR: 19.24%-29.99% variable
Good to Excellent (670-850)
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.
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.
4
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.
Summary
The information regarding the American Express Cash Magnet® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
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.
Card Details
Card Snapshot
Welcome Bonus & Info
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.
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The ratings for these cards have 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.
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1094+ Expert Credit Card Guides
Great Card If
You want a simple cash-back card
You want a card with no annual fee
Don’t Get If
You want a card that offers travel benefits
You want a card that offers bonus categories
You want a card that earns flexible rewards
The Ideal Cardholder
The Amex Cash Magnet card is a perfect fit for anyone looking for a no-fuss cash-back card that offers great benefits and does not charge cardholders an annual fee.
Rental Car Insurance
When you use your Amex Cash Magnet card to pay for your rental car you can be covered for any damage or theft to the vehicle while it is in your possession. Keep in mind that this is secondary rental insurance, so it will only kick in after for anything not covered by your primary car insurance.
How To Earn More Cash-Back
Daily Purchases
Since the Amex Cash Magnet card does not have any bonus categories and instead earns 1.5% back on every purchase you make, the best way for you to earn more cash-back is to make sure your use your card everywhere it is accepted. This way, you’re effectively getting a 1.5% discount on every purchase.
Amex Offers
All American Express cards come with dozens of monthly Amex Offers that allows cardholders to receive discounts and deals with many different merchants. Each month, you can add the offers that seem the most appealing to your card, and then earn extra cash-back or statement credits when you shop there and use your Amex Cash Magnet card to pay.
Authorized Users
If you add your significant other or a family member to your Amex Cash Magnet account, you will earn cash-back for all of the purchases they make with the card. This can help to double the amount of cash-back you earn if each of you has similar monthly expenses.
Refer-a-Friend Bonus
When you refer a friend or family member to apply for the Amex Cash Magnet card, you’ll receive a cash-back bonus if they’re approved for the card.
To send out a referral, visit the Refer-a-Friend website and log in using your Amex username and password (or your credit card information).
Adding Additional Amex Cash-Back Cards
If you want to optimize the total amount of cash-back you’re able to earn, it might make sense for you to carry more than 1 cash-back credit card.
Take the Blue Cash Everyday® Card from American Express for instance, which earns 3% cash-back at U.S. supermarkets (up to $6,000 in purchases per year), 3% cash-back on U.S. online retail purchases (up to $6,000 in purchases per year), and 3% cash-back at U.S. gas stations (up to $6,000 in purchases per year).
With a 2-card setup of the Blue Cash Everyday card and the Amex Cash Magnet card in your wallet, you could use the Blue Cash Everyday card for its bonus categories at U.S. supermarkets, U.S. online retail purchases, and U.S. gas stations, and the Amex Cash Magnet card to earn 1.5% back on all purchases outside of those categories — all without paying any annual fees.
Best Way To Redeem Cash-Back
With the Amex Cash Magnet card, your only redemption option for your cash-back from your card is in the form of a statement credit, and only in increments of $25. Meaning if your current cash-back balance is $15, you’ll have to wait until you’ve earned $25 before you can cash it out. Keep in mind that you cannot use your cash-back to pay your minimum monthly payment.
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 all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
Up to $300 cash-back
$0
0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 19.74% - 28.49%.
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 Chase Freedom Unlimited® is easily one of the best cash-back credit cards on the market. There aren’t many no-annual-fee credit cards that offer multiple great bonus categories like 5% back on travel purchased through Chase, 3% back on dining and drugstore purchases, and 1.5% back on all other purchases.
When paired with other Chase cards in the Ultimate Rewards family, you can transfer that cash back into points if you wish – making it one of the most lucrative cards in your wallet.
Pros & Cons
Pros
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.74% - 28.49%.
INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
Enjoy 6.5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.74% - 28.49%.
No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
Member FDIC
Financial Snapshot
APR: 0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 19.74% - 28.49%.
Foreign Transaction Fees: 3% of each transaction in U.S. dollars
If you’re in the market for a no-annual-fee cash-back credit card that offers at least 1.5% back on all purchases, then you should consider the Freedom Unlimited card. It also earns 5% back on travel purchased through the Chase Travel Portal, and 3% back on dining and drugstore purchases.
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.
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.
Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.
$250
$0 intro annual fee for the first year, then $95.
18.24%-29.24% Variable,0% on purchases for 12 months
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.
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)
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
If you’re looking for a cash-back card that optimizes for the categories you spend the most on, and you’re comfortable paying an annual fee, then the Blue Cash Preferred card might be just the card for you. The Blue Cash Preferred card earns a massive 6% cash-back at supermarkets (on up to $6,000 in purchases), 6% cash-back on select streaming services (like Netflix, Hulu, and Spotify), and 3% cash-back on transit purchases.
Hot Tip: We’ve also compared the Blue Cash Everyday Card vs. Amex Cash Magnet Card. These 2 cards earn cash-back on common everyday purchases, but which is best for you? Find out in our detailed comparison.
The information regarding the American Express Cash Magnet® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
For rates and fees of the Blue Cash Everyday® from American Express, click here. For rates and fees of the Blue Cash Preferred® Card from American Express, click here.
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