The Points Mom

About American Express Cash Magnet Card

Apply For The American Express Cash Magnet Card Here

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 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

If you travel more than 100 miles from home, you have Global Assist Hotline available for 24/7 medical, legal, financial and other select emergency assistance and coordination services, such as medical and legal referrals, emergency cash wires, and missing luggage assistance. 
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Car Rental Loss and Damage Insurance

When you use your card to reserve and pay for the Entire Rental and decline the collision damage waiver at the rental Company counter, you can be covered for Damage to or Theft of a Rental Vehicle in a Covered Territory. Note, there are some exclusions and restrictions and not all vehicle types or rentals are covered. Coverage is not available for vehicles rented in Australia, Italy, and New Zealand. Note, this product provides secondary coverage and does not include liability coverage.
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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.

More About The Card

Apply Here for the American Express Cash Magnet Card

Learn About American Express Cash Back Dollars here
Learn About American Express Cash Back Dollars here