Card Highlights
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American Express Cash Magnet Card is a Credit Card
With a credit card, you can carry a balance and accrue interest if necessary. Note this is not advised by me. The points game does not work well, if you are carrying a balance and accruing interest. See #4 in Let’s Get Started To Earning Free Travel. However, with the current offer for this card, there is a 0% intro APR on purchases and balance transfers for 12 months.
Card Rewards
Earn CASH BACK with the card.
Sign-up Bonus
Before you apply, make sure your ability to get the sign-up bonus is not limited by American Express lifetime language or the 5 card rule or the 90 day rule or the other factors language.
Annual Fee
No Additional Cardholder Fees
There are no additional cardholder fees.
Earn Cash Back on Spending
Earn 1.5% cash back on all of your purchases. Note, Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
Purchase Protection
Purchase Protection protects eligible purchases made with the Card in the event they are accidentally damaged or stolen for up to 90 days from the date of purchase.
Global Assist Hotline
Car Rental Loss and Damage Insurance
Trip Cancel Guard
Provides up to 75% reimbursement if you cancel your eligible nonrefundable flight at least two full calendar days before. Read more here.