Rating: 5 Stars
Bottom Line:
Earn Cash Back and Pay Off Debt
TABLE OF CONTENTS
Card Details
| Regular APR: | 14.99% – 25.99% (Variable) |
| Intro APR (Purchases): | 0% for 15 months |
| Intro APR (Balance transfers): | 0% for 15 months |
| Rewards Rate: | Unlimited 1.5% cash back on your purchases |
| Credit Needed: | (670 – 850) Excellent/Good |
| Annual Fee: | $0 |
| Card Brand: | American Express |
*See online credit card application for details on the terms and conditions.
Offer Highlights
- Click APPLY NOW to apply online
- 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.
- Cash Back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
- Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 15.24% to 26.24%.
- $0 plan fees for plans set up during your first 15 months of Card Membership with Plan It, a feature that lets you split up big purchases into monthly payments with a fixed fee.
- You spoke, we listened. Over 1.6 million more places in the U.S. started accepting American Express Cards in 2018.
- No Annual Fee.
- Terms Apply.
Is American Express Cash Magnet Credit Card worth it?
Cash Magnet from American Express is a flexible card with a simple 1.5% cash back rate on every purchase with no spending caps, as well as 0% Intro APR on purchases and balance transfers for 15 months. The $150 statement credit intro offer is straightforward too.
Pros
- Intro offer that is easy to qualify for – earn $150 after first $1,000 in purchases within three months of account opening
- 0% for 15 months on purchases and balance transfers
Cons
- Lower than average cash back rate among cash back cards
Why 5 Stars?
Regular APR
4 Stars
Intro APR
5 Stars
Fees
4 Stars
Perks
5 Stars
Overall
4 Stars
Fees
| Foreign Transaction Fee | 2.7% |
| Balance Transfer Fee | 3% of the balance transfer amount or $5, whichever is greater |
| Cash Advance Fee | 3% of the balance transfer amount or $5, whichever is greater |
| Penalty APR | None |
Benefits
| $0 Fraud Liability |
| Auto Rental Collision Damage Waiver |
| Extended Warranty Program |
| Travel Accident Insurance |
| Purchase Protection |
| Roadside Assistance |
| Travel Assistance |
Editorial Note: This content is not provided by the issuer. Any opinion, analyses, reviews, or recommendations expressed on this page are those of the author?s alone, and may not have been reviewed, approved or otherwise endorsed by the issuer.
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