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American Express Cash Magnet® credit card full review: should you get it?

Full review of the American Express Cash Magnet® credit card, an excellent option that combines unlimited cashback, 0% APR, no annual fee and the advantages that only American Express cards have.

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American Express Cash Magnet® card: simple, no-frills unlimited cashback program

American Express Cash Magnet® credit card
Learn all about this credit card. Source: American Express.

American Express (Amex) is one of the oldest financial services companies in the US, but it has never stopped reinventing itself. In effect, the American Express Cash Magnet® credit card offers introductory APR, solid cashback, net entry bonus and more.

So, check out the full review of this card to learn all about it!

American Express logo

American Express Cash Magnet® card: check out how to apply!

Get 0% APR for 15 months, zero annual fees, and an excellent refund program. Learn how to apply for your American Express Cash Magnet® credit card.

Credit ScoreFrom good to excellent (670-850)
Annual Fee$0
Regular APR0% in the first 15 months. Then from 14.74% to 24.74% (variable)
Welcome bonusEarn $200 after spending at least $2,000 in the first 6 months
Rewards1.5% unlimited cashback on all your purchases

American Express Cash Magnet® credit card: learn more about this financial product

Young beautiful brunette businesswoman holding credit card over isolated blue background looking positive and happy standing and smiling with a confident smile showing teeth
Learn more about the card’s pros and cons! Source: Adobe Stock.

The great attraction of this card is, without a doubt, its cashback program. In fact, it is an uncomplicated resource, with no differentiation by category of purchases.

Plus, it’s unlimited and covers all your purchases. If you want to leverage your reward earnings, simply add one more cardholder to your card.

With the American Express Cash Magnet® card, you don’t pay to add more cardholders and earn rewards for your purchases. Also, your rewards never expire.

However, a card doesn’t survive on cash back alone, and American Express is well aware of that. For this reason, it offers many other benefits to American Express Cash Magnet® users.

With this card, you have access to an extended period of 0% APR. Also, you have a great security system at your disposal. In case of fraud, you will not be held financially responsible for what happened.

Travelers can count on the help of secondary insurance in case of loss or damage to their rental cars. In addition, Amex offers exclusive assistance from the Global Assist Hotline whenever you are within 100 miles of home.

That way, you’ll have support if you need information, local tips, medical or legal assistance. This card also allows access to the pre-sale of sports tickets, concerts and VIP access to various events.

American Express Cash Magnet® credit card features

Before making your choice, learn about the advantages and disadvantages of this reward magnet:

What are the benefits?

  • Unlimited, unexpired 1.5% cash back on absolutely all your purchases;
  • No annual fee to worry about;
  • Free of APR for 15 months;

What are the drawbacks?

  • You can only use your reward after completing at least $25 and only in the form of credit towards your next balance;
  • Amex cards do not have as much acceptability as Visa or Mastercard;
  • Rate on foreign operations of 2.7%.

What credit score do you need to get the American Express Cash Magnet® credit card?

To enjoy the benefits of the American Express Cash Magnet®, you will need a good credit score. At the very least, you need to be at a good level. Therefore, you are required to have a score greater than 670.

How does the American Express Cash Magnet® credit card application process work?

Did the American Express Cash Magnet® catch your eye? So, click on the link below and learn how to apply for this card!

American Express logo

American Express Cash Magnet® card: check out how to apply!

Get 0% APR for 15 months, zero annual fees, and an excellent refund program. Learn how to apply for your American Express Cash Magnet® credit card.

About the author  /  José Gonçalo

I started reading about finance only to find better options than savings. Since then, I have never stopped studying finance, and I believe that writing about it is the best way to help individuals feel fulfilled and have a healthy financial life. Today, I balance finance and medical school studies.

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