Advertiser & Editorial Disclosure

American Express Cash Magnet™ Card

American Express Cash Magnet™ Card
American Express is a Nav Partner
Terms, Rates & Fees
Earn up to $250 back. Here’s how: 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. Plus, earn an additional $100 statement credit after you spend an additional $6,500 in purchases within your first 12 months. 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 14.99% to 25.99%. With Plan ItSM, you can set up a monthly payment plan for large purchases with a fixed monthly fee and no interest charges, all with the same rewards and protections you expect from American Express. Over 1.5 million more places in the U.S. started accepting American Express® Cards in 2017. No Annual Fee. Terms Apply.

Nav's Verdict

Cost
10% Complete
HighLow
Effort to Apply
10% Complete
DifficultEasy
Card Perks
60% Complete
PoorGood
Features
60% Complete
PoorGood

8/10

Bottom Line

A great card touting good rewards and some extra time for expenses.

Pros

No annual fee and generous intro APR offer. Signup bonus on initial spending for the first year.

Cons

Potentially high APR. Can only redeem cash back as a statement credit.

Rates and Fees
Intro APR
0% on purchases for 15 months
Purchase APR
14.99%-25.99% Variable
Annual Fee
$0
Welcome Offer
Earn up to $250 back. 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. Plus, earn an additional $100 statement credit after you spend an additional $6,500 in purchases within your first 12 months.
Rewards Rate
Unlimited 1.5% Cash Back on your purchases.
Foreign Transaction Fee
2.7% of each transaction after conversion to US dollars.

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