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American Express Cash Magnet® Card

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A simple way to earn rewards on your spending, the American Express Cash Magnet Card offers a flat 1.5% cash back on all purchases. It has no annual fee, a long 0% introductory APR for purchases and balance transfers, and some useful shopping and travel protections.

The information related to American Express Cash Magnet® Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

American Express is a Credit Card Insider advertiser.

(Rates & Fees)

Our rating
Min. credit level: Good
Annual Fee: $0
Regular APR: 12.99–23.99% Variable
Intro Balance Transfer APR: 0% for 15 months
Intro Purchase APR: 0% for 15 months

American Express Cash Magnet® Card

Our rating
Good Min. credit level
$0 Annual Fee
Apply Now Read our Review

Highlights & Features

(Rates & Fees)

Rewards

  • 1.5% cash back for every purchase

INTRODUCTORY BONUS

$150 cash back for spending $1,000 in the first 3 months

Balance Transfers

A balance transfer is a way to move credit card debt from one credit card to another with the goal of saving money on interest.

Intro Balance Transfer APR 0% for 15 months
Regular Balance Transfer APR 12.99–23.99% Variable
Balance Transfer Fee Either $5 or 3% of the amount of each transfer, whichever is greater.
How to Transfer a Balance on a Credit Card

Fees

Penalty APR 29.24% Variable
Late Fee Up to $40
Returned Payment Fee Up to $40
Additional Cards Annual Fee N/A
Foreign Transaction Fee 2.7%
Learn About Types of Credit Card Fees

Cash Advances

Borrowing cash on your credit card is a cash advance. Cash advances usually come with very high fees. Even worse, cash advances can signal to lenders that you’re being irresponsible with money.

Cash Advance APR 25.24% Variable
Cash Advance Fee Either $10 or 5% of the amount of each cash advance, whichever is greater.
How to Get a Cash Advance with a Credit Card
American Express Cash Magnet® Card

Highlights

(Rates & Fees)
  • 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.
  • Cash Back is received in the form of Reward Dollars that can be redeemed for statement credits.
  • Low intro APR: 0% for 15 months on purchases and balance transfers from the date of account opening, then a variable rate, currently 12.99% to 23.99%.
  • 0% introductory plan fee on each purchase moved into a plan during the first 15 months from the date of account opening with Plan It®, a feature that lets you split up big purchases into monthly payments with a fixed fee. After that, your plan fee will be up to 1.17% of each purchase moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase.
  • Don’t wait for your Card in the mail. Start earning cash back before your Card even arrives, if eligible for Instant Card Number.
  • No Annual Fee.
  • Terms Apply.
  • See Rates & Fees
ABOUT THE ISSUER

American Express

American Express has several card types depending on your needs.

Manage your Account & Pay your Bill

You can usually pay your bill online on your

Credit card issuer's website

Speak to Customer Service

1-800-243-3888 or

Try a different phone number
See all Issuer Cards

Due to the impact of COVID-19, for eligible card accounts approved from 12/1/19 through 5/31/20, the period to make eligible purchases to earn the welcome bonus will be extended for an additional three months.

The American Express Cash Magnet Card is a simple cash back card, offering a flat rate of 1.5% cash back for every purchase you make.

Cardholders get a 0% intro APR for both purchases and balance transfers for 15 months, providing over a year to pay off purchases or balances at no interest. After that you’ll get a rate of 12.99–23.99% Variable (Rates & Fees).

There are several shopping and travel protections, including Purchase Protection and a Complimentary ShopRunner membership is included.

You’ll pay no annual fee to use this card .