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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.

American Express is a Credit Card Insider advertiser.

(Rates & Fees)

Our rating
Min. credit level: Good
Annual Fee: $0
Regular APR: 14.49–25.49% 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 14.49–25.49% 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 29.99% Variable
Late Fee Up to $39
Returned Payment Fee Up to $39
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 26.74% 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

  • 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 easily redeemed for statement credits, gift cards, and merchandise.
  • Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 14.49% to 25.49%.
  • 0% introductory plan fee for plans set up during your first 15 months of Card Membership with Plan It®, a feature that lets you split up big purchases into monthly payments with a fixed fee.
  • Over 3 million more places in the U.S. started accepting American Express® Cards in 2017 and 2018.
  • 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

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 14.49–25.49% 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 (Rates & Fees).