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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.
On top of that, you’ll earn an unlimited 1.5% cash back on your purchases. Plus, there’s no annual fee!
If these few features alone sparked your interest, see what more this card has to offer below!
Learn more about this card and its features here.
Table of Contents
American Express Cash Magnet Card $150 Bonus
Amex Cash Magnet Cash Back Program
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.
Why You Should Apply
Plan ItSM lets you set up a monthly payment plan for large purchases with a fixed monthly fee and no interest charges. Create up to 10 active payment plans for qualifying purchases of $100 or more, subject to a plan fee. It’s a fixed charge applied to each month that a plan is active.
Pay ItSM is available in the American Express Mobile app. You can make a payment equal to the amount of a billed purchase less than $100. Pay It payments are applied to your outstanding balance.
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.
Lowest Hotel Rates Guarantee. 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.
- Travel Perks: Enjoy car rental loss and damage insurance, global assist hotline, roadside assistance hotline, and travel accident insurance.
- Shopping Perks: Shop more with extended warranty, return protection, purchase protection, and complementary ShopRunner membership.
- Amex Offers: 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.
Editor’s Alternative Pick
With the Chase Freedom Unlimited® Card:
• New Offer! Double Cash Back: Earn 3% cash back on all purchases in your first year up to $20,000 spent. After that earn unlimited 1.5% cash back on all purchases.
• 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 17.24-25.99%. Balance transfer fee is 3% of the amount transferred, $5 minimum
• No minimum to redeem for cash back
• Cash Back rewards do not expire as long as your account is open
• Free credit score, updated weekly with Credit JourneySM
• No annual fee
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.
Learn more about this card and its features here.
What’s the Competition?
With the Wells Fargo Cash Wise Visa® Card:
• Earn a $150 cash rewards bonus after spending $500 in the first 3 months
• Earn unlimited 1.5% cash rewards on purchases
• Enjoy 1.8% cash rewards on qualified digital wallet purchases, like Apple Pay® or Google Pay™, during the first 12 months from account opening
• No category restrictions or sign ups and cash rewards don't expire as long as your account remains open
• Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Cash Wise Visa® Card
• $0 Annual Fee
With the HSBC Cash Rewards Mastercard® credit card:
• Earn unlimited 1.5% cash rewards on all purchases.
• Earn an Introductory 3% Cash Back on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases
• 10% Anniversary Bonus on all Cash Rewards earned once a year.
• No Annual Fee.
• 0% Intro APR for 12 months on purchases and balance transfers, then a 15.24%, 19.24% or 25.24% variable APR.
• No Foreign Transaction Fees.
• $0 liability for unauthorized purchases.
• Terms Apply.
• See Rates & Fees
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