[Expired] How to Find the $150 (Or Even $200) Welcome Bonus Offer for the Amex Cash Magnet Card [Current Public Offer: $200]

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

The American Express Cash Magnet^® card is a great credit card option for those who value earning cash-back on every purchase that they make. It’s a no-fuss card that is incredibly easy to use and lets you redeem your cash-back as a statement credit each and every month.

Of course, if you’re interested in the Amex Cash Magnet card, you’re going to want to try to get the best bonus possible when you apply, so here are a few ways to help you do just that!

Benefits of the Amex Cash Magnet Card

First, it’s worth examining all of the benefits that the Amex Cash Magnet card has to offer, to see if the card would be a good fit for you. Here are some of the highlights of the card.

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 ins and outs 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.

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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

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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.

Other Key Benefits 

• Cash-Back: Earn an unlimited 1.5% cash-back per $1 on every purchase that you make.
• Pay It Plan It^®: Pay small purchases (purchase amounts under $100) immediately to reduce your overall balance, or split up large purchases (qualifying purchases of $100 or more) for a fixed monthly fee. There is no sign-up, application, or enrollment required for the Plan It^® feature for Amex Payment Flexibility.
• Car Rental Loss and Damage Insurance: The cardholder is provided with secondary insurance coverage in the event of an accident to their rental car.

How to Find the $150 or $200 Amex Cash Magnet Welcome Offer

If you’re hoping to get a higher bonus than the standard offer, luckily, there are a few options that can help you track 1 down.

Targeted offers are discussed in the article below. Please note that these offers are not available to all applicants. Any information related to targeted offers has been collected independently and has not been reviewed or provided by the card issuer.

Increased Public Welcome Offer

American Express will periodically run increased welcome offer promotions on its cards and, when it does so, this can make for a perfect time to apply for a new card you’ve been wanting.

However, there usually is no way to know for sure when then next bonus offer will take place, so it could leave you waiting for a while.

Targeted Mailings From American Express

Targeted mailings are a great way to find out about increased bonus offer opportunities for virtually no work from you. All you have to do is head to the communications preferences in your American Express account and enable communication via mail and email.

Then, anytime you’re targeted for a special offer on an American Express card, Amex will contact you directly via mail or email. Keep in mind that American Express can only contact you if you opt-in first.

Check for Pre-Qualified Offers With American Express

American Express pre-qualified offers will occasionally offer an increased welcome offer as well. Conveniently, American Express makes it very easy to check for these offers.

All you need to do is visit the American Express website, click Cards, then click Check for Pre-Qualified Credit Card Offers. This will allow you to see all the cards you have pre-qualified offers for across the entire suite of American Express personal cards.

Reasons You May Not Be Able to Get a Higher Welcome Offer

The Current Public Offer Is Not an Increased Offer

If the current public offer from American Express is not an increased offer, then you’ll need to put in a big of leg work to find a better offer. In this case, you could check CardMatch, wait until you receive a targeted offer, or wait for American Express to bring back a higher welcome offer.

American Express Credit Card Maximum Rule

American Express limits customers to a maximum of 5 credit cards, not including charge cards, at any given time. So if you already have 5 credit cards with American Express, you’ll likely need to close a card before you can get approved for a new Amex card.

Low Credit

If your credit score is not high enough to get approved for the Amex Cash Magnet card, then it makes no difference how large of a bonus offer you’re able to find. Focus on improving your credit score first by paying down any current credit card debt you might have and making sure to pay your credit card statements on time and in full each and every month.

You’ve Opted out of Marketing Offers

If you don’t take it upon yourself to opt-in to marketing offers from American Express, then you are not going to receive any and could be missing out on targeted offers. If you want to make sure you receive these targeted offers, then you need to opt-in!

Final Thoughts

The Amex Cash Magnet card is an excellent option for a cash-back credit card. If you’re looking for a card with no annual fee, an uncomplicated bonus structure, and cash-back on every eligible purchase, you’ll definitely want to consider the Amex Cash Magnet card.

If you do decide that the Amex Cash Magnet card is right for you, make sure you follow the steps in this guide so that you can get the best welcome offer possible!