American Express Cash Magnet® Card

Welcome Bonus

Earn $200 Back

After you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership.

Annual Fee


Annual Rewards



Rewards on Approval


Interest rates

Purchase Rates


Cash Advance Rates


Balance Transfer Rates


Table of Contents

American Express Cash Magnet® Card

The American Express Cash Magnet® Card is a no-annual-fee credit card known for its simplicity and straightforward cash back rewards program, offering 1.5% cash back on all eligible purchases. With a potential welcome offer for new cardmembers, access to Amex benefits, and no annual fee, it's a compelling choice for those seeking a hassle-free rewards card with the backing of American Express. However, potential cardholders should be aware of possible foreign transaction fees and consider their credit score eligibility.


  1. Simple Rewards Structure
  2. No Annual Fee
  3. Welcome Offer
  4. Amex Benefits


  1. Foreign Transaction Fees
  2. Credit Score Requirements

Details & Eligibility

  • 800+
  • N/A
  • N/A
  • $0
  • N/A
  • Amex
  • No
  • 19.24%
  • 29.99%
  • 29.99%
  • N/A
  • N/A
  • N/A

American Express Cash Magnet® Card Overview:

The American Express Cash Magnet® Card is a popular credit card offered by American Express, known for its straightforward cash back rewards program and other valuable features. As of my last knowledge update in January 2022, please note that specific details may have changed, and it’s advisable to check the official American Express website for the most current information.

Card Features:

  1. Cash Back Rewards:
    • The card offers unlimited 1.5% cash back on all eligible purchases. This straightforward cash back structure is ideal for those who prefer simplicity in their rewards program.
  2. Welcome Offer:
    • American Express often provides a welcome offer for new cardmembers. This could include a bonus cash back reward after reaching a certain spending threshold within the first few months of card membership.
  3. No Annual Fee:
    • One of the key attractions of the Cash Magnet® Card is that it typically comes with no annual fee. This makes it a cost-effective option for those who want to earn rewards without having to pay an annual fee.
  4. Introductory APR:
    • The card may offer a 0% introductory APR on purchases for a specified period, providing cardholders with a temporary period of interest-free financing.
  5. Additional Benefits:
    • American Express is known for offering various additional benefits to its cardholders, such as access to exclusive events, purchase protection, and extended warranty coverage.
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