Apply for American Express Cash Magnet® Card
Apply now
for American Express Cash Magnet® Card
at American Express's secure site
Terms & restrictions apply.
See rates & fees
At a glance
- 1.5% Unlimited 1.5% Cash Back on your purchases.
$150
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.
29.24% Variable
25.24% Variable
13.99%-23.99% Variable
0% on purchases for 15 months
$0
670-850
Excellent/Good
- 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.
Our Take
Overview
Pros
- Unlimited 1.5% cash back on all purchases
- Earn a $200 statement credit after you spend $1,000 in purchases in your first 3 months
- 0% intro APR on purchases for 15 months from the date of account opening
- No annual fee
Cons
- The card tacks on a 2.7% foreign transaction fee on purchases abroad, so it’s not great choice to take with you when traveling outside of the U.S.
- You can only redeem cash back as a statement credit with a minimum redemption of $25
- There are other cards that deliver higher cash back earnings on all purchases