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If you’re on the search for a great cash back credit card for everyday use, the American Express Cash Magnet® Card is an excellent card to have.
As a welcome offer, you can earn $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership.
Offer is currently unavailable.
On top of that, you’ll earn an unlimited 1.5% cash back on your purchases. Plus, there’s no annual fee (see rates & fees)! If these few features alone sparked your interest, see what more this card has to offer below!
American Express Cash Magnet Card Summary
| Offer Available | Get $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership. |
| Ongoing Rewards/Benefits | Unlimited 1.5% cash back on all purchases |
| Foreign Transaction Fees | 2.7% (see rates & fees) |
| Annual Fee | $0 (see rates & fees) |
All information about American Express Cash Magnet® Card has been collected independently by HustlerMoneyBlog.
Cash Magnet Card Bonus Offer
Take advantage of the Cash Magnet card’s $150 bonus welcome offer, you will need to charge at least $1,000 to your card within the first three months of opening your account.
Here are some ideas on meeting the spending requirements.
Redeeming Your Reward Dollars
Earn an unlimited 1.5% cash back on your purchases. It’s a simple rewards system that allows you to earn the same rate on every purchase. Plus, rewards don’t expire.
Redeem rewards for statement credit, merchandise, or gift cards. Unfortunately, you can only redeem reward dollars for statement credits when your available reward dollars balance is $25 or more.
Cash Magnet Card Benefits
Enjoy car rental loss and damage insurance, global assist hotline, roadside assistance hotline, and travel accident insurance.
Return Protection can refund you for eligible purchase(s) charged entirely on your card. Coverage is limited to 90 days from purchase, up to $300 per item and up to a maximum of $1,000 per account per year.
Shipping and handling costs won’t be refunded. Eligible items must be in original condition. Plus, they can’t be returned to the merchant from which they were originally purchased. Exclusions apply.
Roadside Assistance Hotline operates 24/7 and can send a tow operator or locksmith to assist in an emergency situation. Get it at no additional charge. However, any goods or services provided cost extra.
Tow operators or locksmiths can provide the following services: towing, winching, jump starts, flat tire change when you have a workable spare, lockout service when key is in vehicle, and delivery of up to 2 gallons of fuel. You must be present with the eligible vehicle.
If you book a qualifying prepaid hotel rate on amextravel.com and then find the same room, in the same hotel, for the same dates, at a lower price online, before taxes and fees, Amex will refund you the difference.
Shop more with extended warranty, return protection, purchase protection, and complementary ShopRunner membership.
Add the offers to your account through amexoffers.com. Earn either points or statement credit. Get more savings at places you like to shop, dine, and travel.
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Bottom Line
The American Express Cash Magnet® Card is great for those who are looking for a simple, straightforward cash back card for everyday use. No need to worry about rotating categories or enrollment.
Not only will you receive a terrific welcome offer, you can take advantage of all of the great features that this card has to provide. For more of what Amex has to offer, see our list of the Best American Express Credit Cards. For a more extensive list, see our Best Credit Card Promotions.
* The Cash Magnet® Card is issued by American Express . They also offer great welcome offers. You can also compare this card with other credit card bonuses!
See rates & fees of the American Express Cash Magnet® Card.
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Hustlermoneyblog has partnered with CardRatings for our coverage of credit card products. Hustlermoneyblog and CardRatings may receive a commission from card issuers.
I think the Cash Magnet is a safe and smart card in the event Card Companies start slashing rewards on high percentage points cards. I guess it is true, slow and steady wins the race. Cash Magnet could be the one.