American Express Cash Magnet Credit Card Review

The no annual fee American Express Cash Magnet card offers 1.5% cash back on all your spending. 

The card also offers purchase protection and rental car insurance, but there are several other better cash back options including the Citi DoubleCash and Chase Freedom Unlimited.

Deals Points Card Rating:
2/5
American Express Cash Magnet

Cash Magnet Card Information

Application Link: American Express Cash Magnet.

Current Sign Up Bonus: $150 cash back plus 0% Intro APR for 15 months.

Recommended Bonus: At least $150 cash back.

Annual Fee: No Annual Fee. 

Earning Rewards: 1.5% cashback everywhere.

Cash Magnet Card Benefits

Rental Car Insurance– The Cash Magnet card offers secondary rental car insurance when using the card to pay for the rental car. Secondary insurance covers any damage to the rental car not covered by your insurance.

Purchase Protection– Your eligible purchases with the Cash Magnet within 90 days are covered from theft or damage.

Amex Offers– This card, along with other American Express cards, allow you to add Amex Offers to the card to save money at certain retailers. For example, a $10 statement credit for spending $25. 

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