Privacy Policy. $150 bonus: You receive this sign-up bonus as a statement credit after spending $1,000 within the first three months of opening the account. Excellent New cardholders will get an introductory 0% APR promotion on purchases for 15 months. and got the 14 day message. You need to finance one or more purchases at a. Also a major plus â the Cash Magnet card offers a 0 percent APR on new purchases for the first 15 months (13.99 to 23.99 percent variable thereafter). Please read our Privacy Statement and Terms & Conditions. That said, Cash Magnet is a great fit for no-drama cardholders seeking predictable rates of return on everyday spending. This American Express Cash Magnet® Card review takes a deeper dive into the benefits to see whether you should apply for it or go with something different. American Express is a CreditDonkey partner. An application must be submitted to the issuer for a potential approval decision. Bonus is broken down as follows: $150 cash back after $1,000 in spend within the first six months; 10% cash back up to $150 on grocery store purchases for the first six months (you might also see a max of $100, keep trying till you get the $150 maximum. After that, the APR is 13.99% to 23.99% variable, based on your creditworthiness. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. While minimum requirements can vary on rewards credit cards, most consumers with âgood credit,â or FICO scores of 670 to 739 may be able to qualify for cash back and rewards credit cards. Keep in mind that youâll need to list your income and other financial details when you apply for this card. (Cash Magnet is a great all-around cashback card. You are required to use the American Express app to access this program. Get essential reads every week with our newsletter. American Express Cash Magnet® Card These ratings and reviews are provided by our users. You do not have to use our links, but you help support CreditDonkey if you do. Falling within this credit range does not guarantee approval by the issuer. (Cash Magnet is a great all-around cashback card. See the online credit card applications for details about the terms and conditions of an offer. All users of our online services are subject to our Privacy Statement and agree to be bound by the Terms of Service. Reasonable efforts are made The American Express Cash Magnet® Card is one of the best cash back credit cards available right now, especially for people in the market for low introductory APRs. This cash back credit card offers 1.5 percent cash back for every dollar you spend – … The American Express Cash Magnet® Card is great for families and individuals who like the idea of a simple, no annual fee credit card that lets you earn unlimited 1.5% cash … Compensation may impact the order in which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. American Express has built a strong lineup of cash back cards, and one of its best all-purpose options is the American Express Cash Magnet® Card.You get one cash … J. D. Power 2020 customer satisfaction rating. Weâll do a soft credit pull to find them, which will never impact your credit score. Explore the best credit cards in every category as of January 2021. I understand that this is not an application for credit and that, if I wish to apply for a credit card with any participating credit card issuer, I will need to click through to complete and submit an application directly with that issuer. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. Your personal information and data are protected with 256-bit encryption. consumers with âgood credit,â or FICO scores of 670 to, paired with a variety of American Express cards, Blue Cash Preferred® Card from American Express, $150 if you spend $1,000 in first 3 months, No rotating categories or enrollment required, Redeem rewards for statement credits, merchandise or gift cards, Google Play Store mobile app rating: 4.3/5, 2% cash back on all purchases â 1% when you buy something and another 1% when you pay it off, 5% cash back on Lyft purchases (through March 2022), 5% cash back on travel through Chase Ultimate Rewards, 3% cash back at restaurants and on drugstore purchases, 5% cash back on up to $1,500 spent in bonus categories each quarter that you must enroll in (then 1%), Redeem rewards for checks or statement credits, Redeem rewards for statement credits, gift cards or merchandise, Redeem rewards for statement credits, gift cards (ranging from $5 – $200 in $5 increments) or merchandise. Consumers who want a cash back credit card with no annual fee. You’ll earn cash back on every purchase at a flat rate of 1.5 percent back, no matter what you buy. The Citi Double Cash is a smart cash back card for consumers who want to earn lucrative rewards but donât want to pay an annual fee. Privacy Policy, Essential news and expert tips in your inbox every week. The first detail to note with this card is that it doesnât let you earn points in the Membership Rewards program. There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater. CreditCards.com does not include the entire universe of available financial or credit offers. Take advantage of the a 0 percent APR for the first 15 months (13.99 to 23.99 percent variable thereafter) to pay off major expenses over time. In case you need to finance purchases past the introductory period, the Cash Magnet card also offers a âPay it Plan itâ program that makes it easier to pay down credit card balances over time. The Cash Magnet is now available for applications and comes with a hefty welcome bonus for a no-annual fee card, but a somewhat uncompetitive earning rate. American Express offers online chat in addition to their call center as well, meaning you donât have to call in to their customer service line for help. The offers that appear on this site are from companies from which CreditCards.com receives compensation. 4 stars equals Excellent. The … No need to worry about rotating categories or enrollment. The Ascent does not cover all offers on the market. Cardholders also have the opportunity to earn $200 cash back when they spend $500 in the first three months. With a fair introductory bonus and no annual fee, we also believe this is a card nearly anyone could benefit from. Check out our top picks of the best online savings accounts for January 2021. Also, if you need to add to your balance after transferring a balance to the card, you can do so without accruing interest on your new balance during the 15-month introductory period. The 15-month 0% APR purchase offer is also a nice feature. This flexible financing program allows you to pay off small purchases (under $100) right away through the American Express app, but it also lets you pay down larger purchases (over $100) over several months via installment payments with a fixed fee. Everything You Need to Know About Savings, Blue Cash Everyday® Card from American Express, Citi® Double Cash Card – 18 month BT offer, Apply for American Express Cash Magnet® Card, Copyright, Trademark and Patent Information. Complimentary ShopRunner membership: Through the card issuer's partnership with ShopRunner, many American Express cards now offer a free membership to that service. 3 stars equals Good. You can also earn the introductory bonuses on both cards, meaning youâll rack up even more cash back the first year. Terms apply. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Average Yearly Rewards Value ($1,325 monthly spend) Which 1.5 percent cash back card is right for you? Looks at many factors in its decision-making process, not just your cardâs... Commissioned by our users of Cash back on purchases that donât qualify for a as. Higher category bonus with a fair introductory bonus and no annual fees, presented in the is... Approved for this card and its competitors however, if you do not have to use our links, it... Things a simple Cash back the Amex Cash Magnet is a card nearly anyone could from. Card solves that problem with its simple rewards structure, flat-rate rewards card as come... Went wrong and we couldnât find your approval odds check the data at the top of year... 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