American Express Cash Magnet Credit Card Review | CompareCredit

American Express Cash Magnet® Card – $150 Welcome Offer Review

By Thomas Donaldson

The American Express Cash Magnet® Card – $150 Welcome Offer is an easy-to-manage cash back credit card with no annual fee. In addition to unlimited cash back, it also offers 0% Intro APR plus other benefits like Plan It® & AMEX Offers.

American Express Cash Magnet® Card – $150 Welcome Offer

(141 reviews)

Current Offer
0% on purchases for 15 months & $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months
  • Earn a $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months
  • Unlimited 1.5% Cash Back on your purchases
  • Easily redeem cash back for statement credits, gift cards, and merchandise
  • $0
  • Good, Excellent
  • AMEX
Product Details
  • Click "APPLY NOW" to apply online
  • 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.
  • Low intro APR: 0% for 15 months on purchases from the date of account opening, then a variable rate, currently 13.99% to 23.99%.
  • Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee.
  • Amex Offers rewards you at places you like to shop, dine, travel, and more. You can add as many Offers as you'd like to your Card, then just use that Card to pay, and enjoy rewards directly on your statement.
  • Cash Back is received in the form of Reward Dollars that can be redeemed for statement credits.
  • No Annual Fee.
  • Terms Apply.

Top Rated For

    Our Expert Review

    Why We Like It


    Offer Rating

    4.5/ 5

    By Our Editorial Team

    Key Benefit

    This card has something for everybody: generous cash back rates, low interest, and a nice welcome offer.

    Compare Credit logomarkEditor

    Enjoy extra flexibility while earning cash back with the American Express Cash Magnet® Card – $150 Welcome Offer. This card comes with unlimited 1.5% Cash Back on your purchases so you never have to worry about special bonus categories or annoying caps on how much you can earn. Whether your spending money on groceries, online shopping, or just paying everyday bills, you'll earn the same generous rewards rate.

    As a welcome offer for new cardholder you can earn a $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months. Cardholders will also enjoy a lengthy introductory APR: 0% on purchases for 15 months.

    After the intro period is up, the ongoing APR will be 13.99%-23.99% Variable depending on your creditworthiness. That intro period can be really helpful if you need to make a big purchase and want to spread the payments out over time interest free. To top it off the American Express Cash Magnet® Card – $150 Welcome Offer comes with no annual fee.

    Pros & Cons

    Pros

    • Simply your cash back with Rewards Rate
    • Enjoy $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months
    • Lengthy intro APR on purchases

    Cons

    • No intro APR on balance transfers
    • There is a foreign transaction fee of 2.7% of each transaction after conversion to US dollars

    Customers Also Viewed

    (646 reviews)

    Blue Cash Preferred® Card from American Express

    (1,883 reviews)

    Blue Cash Everyday® Card from American Express

    (3,695 reviews)

    Citi® Double Cash Card – 18 month BT offer

    (1,825 reviews)

    Bank of America® Cash Rewards credit card