American Express Cash Magnet Card $150 Bonus + Unlimited 1.5% Cashback + No Annual Fee

For new cardholders, you can earn $150 statement credit after you spend $1,000 or more in purchases with your new American Express Cash Magnet® Card within the first 3 months of card membership.

Other feature include an unlimited 1.5% cashback, NO ANNUAL FEE (see rates & fees), and more! If you’re interested in this card, then read on!

Author’s note: American Express isn’t as widely accepted internationally as Visa or Mastercard, so consider your choices carefully when choosing an Amex card.

Amex Cash Magnet Card Summary

All information about American Express Cash Magnet® Card has been collected independently by BankDealGuy.

Amex Cash Magnet – $150 Statement Credit

After spending $1,000 in the first 3 months of opening your account, you can earn a $150 statement credit. There are many ways to go about this. Down below are several options to acquiring these points.

Earning Reward Dollars

The American Express Cash Magnet® Card cash back program earns you an unlimited 1.5% cash back on your purchases. This simple rewards system allows you to earn the same rate on every purchase. Rewards don’t expire and you don’t have to worry about any sort of rotating categories or enrollment. This is similar to other Amex cards such as the Blue Cash Everyday Card from American Express and the Blue Cash Preferred Card from American Express.

Redeeming Reward Dollars

Redeem your rewards for statement credit, merchandise, or gift cards. However, you can only redeem reward dollars for statement credits when your available reward dollars balance is $25 or more. I highly recommend redeeming for statement credit to get the most value out of your rewards.

Amex Cash Magnet Cardholder Benefits

Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee.

Pay It^SM:  Make a payment equal to the amount of a billed purchase less than $100. Payments made with Pay It are applied to your outstanding balance rather than that billed purchase. This feature is available in the American Express Mobile app.

Return Protection: With this benefit, you may refund your eligible purchase(s) charged entirely on an eligible American Express card. Coverage is limited to 90 days from purchase, up to $300 per item and up to a maximum of $1,000 per account per year. Shipping and handling costs for the purchase will not be refunded.

All eligible items must be in the original purchase condition, and items can’t be returned to the merchant from which they were originally purchased. Certain purchases may also not be eligible for refund. Other exclusions apply.

Roadside Assistance Hotline: Get a tow operator or locksmith to assist in an emergency situation with this 24-hour dispatch line, but you will be charged for any goods or services provided.

Tow operators or locksmiths can provide: towing, winching, jump starts, flat tire change when you have a workable spare, lockout service when key is in vehicle, and delivery of up to 2 gallons of fuel. Restrictions apply. You must be present with the eligible vehicle.

Lowest Hotel Rates Guarantee: Book a qualifying prepaid hotel rate on amextravel.com, then, if you find the same room in the same hotel for the same dates, the same number of children and adults, at a lower price online, before taxes and fees, Amex will refund you the difference.

Author’s Verdict

If you’re looking for a simple card with no gimmicks, then the American Express Cash Magnet® Card is the way to go! With this card, you’ll enjoy a great welcome offer. The Amex Cash Magnet card will reward you for making purchases, earn unlimited cash back, and more. This is a straightforward card that offers you many great features.

If you’re interested then you should take advantage of this offer because it’s only for a limited time at the moment.

Provide feedback in the comment section below by telling us your thoughts and experience with this credit card. If you’re just looking for more credit card options in general, then definitely check out our Best Credit Card Deals master post! If you’re interested, check out our Best American Express Cards.

Alternative Credit Cards Options

If you are looking for a card with more reward opportunities, then you might consider these other alternatives that are pretty similar. These cards include the HSBC Cash Rewards Mastercard® credit card and Chase Freedom Unlimited.

• HSBC Cash Rewards Mastercard® credit card

• Chase Freedom Unlimited

The Chase Freedom Unlimited® Card offers a $250 bonus after spending $500 on purchases in your first 3 months from account opening. Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers. In addition, you can earn: • 6.5% cash back on travel purchased through Chase TravelSM, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more • 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service • 3% on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase TravelSM, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases. There is no minimum to redeem for cash back & your cash back rewards do not expire as long as your account is open. This card comes with no annual fee and you'll get a free credit score that is updated weekly with Credit JourneySM. Member FDIC Learn More About This Card

Learn more about this card and its features here.