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American Express Cash Magnet® Card – $150 Welcome Offer

American Express Cash Magnet® Card – $150 Welcome Offer

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Rated 4.5/5 stars by our editorial team

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Your Rating:

3.8/5.0 from 18 Offer Ratings
Over the Past 60 Days!

(18) Over the Past 60 Days!

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  • Regular Purchase APR 13.99%-23.99% Variable
  • Intro Purchase APR 0% on purchases for 15 months
  • Intro BT APR N/A
  • Annual Fee $0
  • Credit Needed

    Excellent/Good

  • Card Brand American Express

Card Details

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.
  • 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

Card Fees

Foreign Transaction Fee 2.7% of each transaction after conversion to US dollars.

Balance Transfer Fee N/A

Cash Advance Fee Either $10 or 5% of the amount of each cash advance, whichever is greater.

Penalty APR 29.24% Variable

Ongoing Information

Rewards Rate Unlimited 1.5% Cash Back on your purchases

Annual Fee $0

Additional Card Details

$0 Fraud Liability Yes

Auto Rental Insurance Yes

Extended Warranty Program No

Roadside Assistance No

Purchase Protection Yes

Travel Assistance Yes

Flight Accident Insurance No

Lost Luggage Reimbursement No

Concierge Service No

Expert Reviews

From the CompareCards.com Editorial Team

The American Express Cash Magnet® Card is a leading cash back credit card designed for consumers who want a simple, yet rewarding piece of plastic. To start off, this card comes with an industry leading welcome offer. $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership For ongoing rewards, cardholders earn unlimited 1.5% cash back on your purchases.
 
On top of the generous rewards offered by the American Express Cash Magnet® Card, cardholders will also enjoy intro APRs of 0% on purchases for 15 months on purchases. That makes this card an excellent choice if you need to finance a big purchase over time to save money on interest. After the intro period is up, the ongoing APR will be 13.99%-23.99% Variable.
 
With the American Express Cash Magnet® Card – $150 Welcome Offer you receive all these valuable perks and rewards and pay no annual fee. Finally, you can swipe your card confidently knowing that you're backed by the legendary American Express customer service and cardholder benefits.

Expert Reviews of the American Express Cash Magnet® Card – $150 Welcome Offer

  • 4.0

    Regular APR

  • 4.0

    Intro APR

  • 4.0

    Fees

  • 5.0

    Benefits

  • star rating 4.5/5

    Overall Rating

The Bottom Line

With an incredible rewards program, lengthy intro APRs and no annual fee, the American Express Cash Magnet® Card has something for every consumer to love.

The Good

The welcome offer on this card is among the highest we've ever seen for a no annual fee cash back card. Plus the new Plan It℠ feature is an excellent way to easily finance large purchases.

The Not so Good

Since this card does have a foreign transaction fee, you may want to refrain from using it overseas: 2.7% of each transaction after conversion to US dollars.

Editorial Note: This content is not provided by American Express. Any opinions, 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 American Express.

Consumer Reviews

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Offer Rating

3.8/5.0

18 Total Ratings

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