Last updated: 8/3/2021

American Express Cash Magnet

Earns: Cash Back

★★★★★

GigaTake:

A very solid cash-back card, especially for lower spenders. Its 1.5% cash back on purchases isn’t the highest rate available, but it’s close. Plus, this card has a decent sign-up bonus ($175 for spending $1,000 in the first three months) and no annual fee.

Here’s how much you would earn with this card

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See how the American Express Cash Magnet compares to other credit cards

American Express Cash Magnet Other Cards

Rewards

Show Rewards For:

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Reward Rate = 1.5x

Value = 1 cent per point
Effective Value = 1.5 %

Welcome Bonus = 15,000

Value = 1 cent per point
Effective Value = $150

$1700

Annual Fee = $0

$695

Welcome Bonus

$150 Cash Back

After you spend $1,000 in 3 months

GigaInfo about Welcome Bonuses Welcome Bonuses 101 Article

Spending Rewards

1.5% All Spending

Is this card right for me?

That depends on your individual spending patterns. We have a tool that figures it out for you. Learn what you could earn.

Try the Analyzer now

0.4¢ PER POINT

2¢+ PER POINT

Annual Fee

Are Annual Fees Worth It?

The GigaPoints Guide to Credit Card Annual Fees Article

Use this card for…

You can earn more rewards by using different cards for different purchases. We built a tool that tells you which card to use, when. Just plug in your favorite brand, store, or category to find out which card pays the most.

Use the Best Card For tool

Additional perks of owning this card

Plan It® gives you the option to select a qualifying transaction to pay off over a fixed period of time for a set monthly fee and not be charged interest on purchases as long as you pay your Adjusted Balance each month by the payment due date.

The Fine Print

INTRO APR FOR PURCHASES	0% for 15 months
PURCHASES APR	13.99% to 23.99%
BALANCE TRANSFER FEE	Either $5 or 3% of the amount of each transfer, whichever is greater.
CASH ADVANCE APR	25.24%
CASH ADVANCE FEE	Either $10 or 5% of the amount of each transaction, whichever is greater.
LATE PAYMENTS	Up to $40.
FOREIGN TRANSACTION FEE	2.7%