American Express Cash Magnet Card: Get cash back with no annual fee!
American Express Cash Magnet has an unlimited 1.5% cashback on all purchases, it’s $0 fee! see approval without hurting your score!
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The American Express Cash Magnet credit card is the perfect credit card to optimize your budget, as it earns you cash back rewards at every purchase.
Also, you can enjoy some of the American Express exclusive benefits, including no annual fee, and enjoy many discounts offered by partner stores and services.
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In this quick article, we’re reviewing the pros and cons of the Cash Magnet by American Express. You’ll see:
- Cash Magnet Amex: full review
- Cash Magnet: Pros and Cons
- Cash Magnet Amex benefits
- How to apply for Cash Magnet Amex
Cash Magnet Amex: full review
The Cash Magnet American Express is quite simple: you earn 1.5% back on everything you buy, so there are no specific spending categories for earning cash back.
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Notice that you have unlimited cash back, meaning, there’s no limit on how much you can earn as cash back rewards, as many other credit cards usually have.
Also, it’s worth noting that you can ask for an Additional Card that will also earn you the same cash back rate. So, the Cash Magnet is great for house and family expenses.
These cash back earnings can be redeemed as Reward Dollars on your statement credit, with no other requirements or limitations.
Cash Magnet: Pros and Cons
Pros
- Zero annual fee.
- $200 statement credit bonus after spending $2000 or more within the first 6 months.
- Unlimited 1.5% cash back on all purchases.
- Low intro APR (0% for 15 months).
- Allows splitting purchases in monthly payments.
- Additional card earns cash back.
Cons
- It charges foreign transaction fees (2.7%).
- Requires average to good credit.
Amex benefits for Cash Magnet
American Express also offers some other benefits for those who apply for the Cash Magnet credit card, such as:
- Car Rental Loss and Damage Insurance (terms apply).
- 24/7 Global Assistant Hotline.
- Access to tickets pre-sales (concerts, shows, Broadway etc).
- Exclusive discounts and rewards with Amex Offers.
How to apply for Cash Magnet Amex
You can apply online directly on the American Express Cash Magnet official website, and the pre-approval application won’t affect your credit score, so give it a try!
If you need any help, make sure to check out our step-by-step tutorial and get approved today!
To see more of the American Express credit card’s reviews, visit our website!