American Express Cash Magnet® Card Review

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American Express Cash Magnet® Card Review

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.

"Unlimited 1.5% Cash Back"

Earn consistent cash-back with no caps or changing categories to track.

Apply Now (at Amex's secure site)

Card Snapshot

  • Welcome Bonus & Info (Partner Content)
    • 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.
    • Low intro APR: 0% for 15 months on purchases from the date of account opening, then a variable rate, currently 13.99% to 23.99%.
    • Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee and no interest.
    • 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.
    • See Rates & Fees
  • Customer Service Number
    1-800-528-4800
  • Login Link
  • Related Articles

Card Fees

  • Annual Fee
    • $0
  • Foreign Transaction Fees
    2.7% of each transaction after conversion to US dollars.
  • Interest Rates
    • 0% on purchases for 15 months, from account opening
    • Ongoing APR: 13.99%-23.99% Variable
  • Late fees
    • Penalty APR: 29.24% Variable
    • Fee: Up to $40
  • Cash Advance APR
    • 25.24% Variable
    • Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater.
  • Additional Info

Frequently asked questions

What is the annual fee on the American Express Cash Magnet card?

The American Express Cash Magnet card does not charge an annual fee.

Alex Miller

About Alex Miller

Alex has been traveling for over 25 years and from a young age was lucky enough to set out on numerous family trips all over the world, which gave him the travel bug. Alex has since earned millions of travel points and miles, mainly through maximizing credit card sign-up bonuses and taking every opportunity to earn the most points possible on each dollar spent.

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