This text is dropped at you by the Private Finance Insider staff. It has not been reviewed, accepted, or in any other case endorsed by any of the issuers listed. Among the gives you see on the web page are from our companions like Citi and American Specific, however our protection is all the time impartial. Phrases apply to the gives listed on this web page.
Common APR
13.99%-23.99% Variable
Credit score Rating
Good to Glorious
Featured Reward
$150 again after you spend $1,000 in purchases in your new Card in your first Three months
- Earn a $150 assertion credit score after you spend $1,000 or extra in purchases along with your new Card inside the first Three months of Card Membership.
- Limitless 1.5% Money Again in your purchases.
- Low intro APR: 0% for 15 months on purchases from the date of account opening, then a variable price, at the moment 13.99% to 23.99%.
- Plan It® provides the choice to pick out purchases of $100 or extra to separate up into month-to-month funds with a set charge and no curiosity.
- Amex Affords rewards you at locations you want to buy, dine, journey, and extra. You may add as many Affords as you’d prefer to your Card, then simply use that Card to pay, and revel in rewards immediately in your assertion.
- Money Again is acquired within the type of Reward {Dollars} that may be redeemed for assertion credit.
- No Annual Price.
- Phrases Apply.
If you happen to’re on the lookout for an uncomplicated bank card that earns a flat price of rewards with out having to pay an annual charge (See Rates), the American Express Cash Magnet® Card is value contemplating. The cardboard earns 1.5% money again on all purchases with no spending caps, and it comes with a welcome bonus of $150 again after you spend $1,000 in purchases in your new Card in your first Three months, within the type of a press release credit score.
The Cash Magnet® Card additionally gives a 0% introductory APR on purchases for the primary 15 months, after which a 13.99%-23.99% Variable APR applies (See Rates). This may very well be useful when you’ve got large purchases arising you wish to pay for over a number of months with out accruing massive curiosity prices.
Earlier than you resolve on the Cash Magnet® Card, there are different no-annual-fee cash-back credit cards to think about which have the identical (or higher) price of return, and a few additionally provide an introductory 0% APR on purchases or steadiness transfers.
For instance, the Chase Freedom Unlimited® comes with a welcome bonus of $200 after spending $500 within the first three months from account opening, and has an introductory 0% APR on purchases for the primary 15 months (then a 14.99%–23.74% variable APR). It earns 5% money again on journey bought by means of Chase Ultimate Rewards, 3% money again on eating and drugstore purchases, and 1.5% money again on every thing else.
There’s additionally the Citi® Double Cash Card, which does not at the moment have a welcome bonus, however earns 2% money again (1% while you purchase, and 1% while you pay) on all purchases, plus gives an 18-month introductory 0% APR on steadiness transfers, then a 13.99% – 23.99% (Variable) APR.
Backside line: Contemplate the American Express Cash Magnet® Card if you wish to earn flat-rate rewards as a substitute of factors for journey, and if you wish to lower your expenses on curiosity for a restricted time. Simply remember that there are different no-annual-fee credit cards with larger welcome bonuses and incomes that may very well be a greater match on your state of affairs.
We’re centered right here on the rewards and perks that include every card. These playing cards will not be value it in the event you’re paying curiosity or late charges. When utilizing a bank card, it is necessary to pay your steadiness in full every month, make funds on time, and solely spend what you’ll be able to afford to pay.
| American Express Cash Magnet® Card | Blue Cash Everyday® Card from American Express | Blue Cash Preferred® Card from American Express |
|
Annual charge $0 |
Annual charge $0 (See Rates) |
Annual charge $95 (waived the primary yr in the event you apply by 12/10/2020) (See rates) (See rates) |
|
Rewards price 1.5% money again on all purchases
|
Rewards price 3% again on the primary $6,000 spent every calendar yr at U.S. supermarkets, then 1% again 2% again at U.S. gasoline stations 2% again at choose U.S. department shops 1% again on all different purchases |
Rewards price 6% again on the primary $6,000 spent every calendar yr, then 1% again 3% again at U.S. gasoline stations 3% again on transit 1% again on all different purchases |
|
Welcome bonus $150 again after you spend $1,000 in purchases in your new Card in your first Three months |
Welcome bonus 20% again on purchases at Amazon.com on the Card within the first 6 months, as much as $200 again (plus, you’ll be able to earn $100 again after you spend $1,000 in purchases in your new Card inside the first 6 months) |
Welcome bonus $300 assertion credit score after you spend $3,000 in purchases within the first 6 months from account opening |
|
Overseas transaction charge Sure (See Rates) |
Overseas transaction charge Sure (See Rates) |
Overseas transaction charge Sure (See rates) |
|
Introductory APR 0% intro APR for 15 months from account opening, then a 13.99%-23.99% Variable APR |
Introductory APR 0% intro APR for 15 months from account opening, then a 13.99% to 23.99% variable APR (See Rates) |
Introductory APR 0% intro APR on purchases for 12 months from account openingthen a 13.99% to 23.99% variable APR (See rates) |
| Learn more | Learn more | Learn more |
| American Express Cash Magnet® Card | Citi® Double Cash Card | Chase Freedom Unlimited® |
|
Annual charge $0 |
Annual charge $0 |
Annual charge $0 |
|
Rewards price 1.5% money again on all purchases |
Rewards price 1% money again while you purchase, plus 1% money again while you pay your invoice |
Rewards price 5% money again on journey bought by means of Chase Final Rewards 3% money again on eating and drugstore purchases 1.5% money again on every thing else |
|
Welcome bonus $150 again after you spend $1,000 in purchases in your new Card in your first Three months |
Welcome bonus N/A |
Welcome bonus $200 after spending $500 within the first three months from account opening 5% money again on as much as $12,000 spent at grocery shops* within the first account yr |
|
Overseas transaction charge Sure |
Overseas transaction charge Sure |
Overseas transaction charge Sure |
|
Introductory APR 0% intro APR for 15 months from account opening, then a 13.99%-23.99% Variable APR
|
Introductory APR 0% intro APR on steadiness transfers for the primary 18 months, then 13.99% – 23.99% (Variable) |
Introductory APR 0% intro APR on purchases for the primary 15 months, then 14.99%–23.74% variable APR |
*not together with Goal or Walmart purchases
American Express Cash Magnet® Card cardholders obtain their welcome bonus within the type of a press release credit score after they’ve met the minimum spending requirement. Nevertheless, money again from the cardboard is issued within the type of reward {dollars}, which you’ll redeem for a press release credit score every time your reward greenback steadiness is $25 or extra. Amex could provide you with choices to make use of reward {dollars} for present playing cards or merchandise occasionally.
It is necessary to notice that you may’t use reward {dollars} to pay the minimal fee due in your card, or money them out for a examine or financial institution deposit. Different cash-back playing cards just like the Citi® Double Cash Card even have a minimal redemption quantity, however help you use your rewards in additional methods. And a few, just like the Capital One® SavorOne® Cash Rewards Credit Card, do not have a minimal redemption quantity in any respect.
Amex Money Magnet advantages and options
The Cash Magnet® Card would not have many cardholder advantages, however that is not uncommon for a cash-back bank card with out an annual charge. Listed here are the principle cardholder options you need to learn about.
0% Introductory APR on purchases
The Cash Magnet® Card 0% introductory APR applies to purchases for the primary 15 months, after which a you may pay a 13.99%-23.99% Variable APR. Utilizing an introductory APR provide can prevent some huge cash on curiosity when you’ve got an enormous buy you’d prefer to pay for over time, however make certain you may have a plan and means to pay off your debt earlier than the introductory interval expires.
Pay It Plan It
The Amex Pay It Plan It program helps you to shortly repay small quantities you cost to your card or plan compensation for giant purchases, all whereas incomes rewards. As an alternative of paying conventional curiosity funds, you may pay a set month-to-month charge on purchases you financial with this program.
International Help Hotline
Name into this cardmember hotline in the event you need assistance with translation companies, lacking baggage, emergency authorized and medical referrals, misplaced passport help, and extra. The International Help Hotline will assist organize these companies, however you are accountable for any prices incurred.
Automobile rental loss and harm insurance coverage
While you cost all the automotive rental value to your Cash Magnet® Card and decline the rental firm’s collision harm waiver, you may obtain secondary auto rental protection. This may kick in to pay for harm or theft to a rental car in coated international locations and territories after you may have exhausted protection from different auto insurance coverage insurance policies you may have.
American Specific Experiences
American Specific Experiences gives presale tickets to live shows and occasions when you may have the Cash Magnet® Card. Cardmember-only occasions could also be out there, in addition to entry to Broadway exhibits, live shows, sporting occasions, and extra.
Common APR
13.99%-23.99% Variable
Credit score Rating
Good to Glorious
Featured Reward
$150 again after you spend $1,000 in purchases in your new Card in your first Three months
- Earn a $150 assertion credit score after you spend $1,000 or extra in purchases along with your new Card inside the first Three months of Card Membership.
- Limitless 1.5% Money Again in your purchases.
- Low intro APR: 0% for 15 months on purchases from the date of account opening, then a variable price, at the moment 13.99% to 23.99%.
- Plan It® provides the choice to pick out purchases of $100 or extra to separate up into month-to-month funds with a set charge and no curiosity.
- Amex Affords rewards you at locations you want to buy, dine, journey, and extra. You may add as many Affords as you’d prefer to your Card, then simply use that Card to pay, and revel in rewards immediately in your assertion.
- Money Again is acquired within the type of Reward {Dollars} that may be redeemed for assertion credit.
- No Annual Price.
- Phrases Apply.
American Specific Money Magnet charges and prices
The American Express Cash Magnet® Card would not cost an annual charge, however you’ll pay foreign transaction fees, so that you should not use it for bills outdoors the US.
As soon as the 0% introductory APR interval on purchases ends, you may be topic to a 13.99%-23.99% Variable APR in the event you carry a steadiness. And, like different playing cards, there are charges for money advances, late funds, and returned funds.
Disclosure: This put up is dropped at you by the Private Finance Insider staff. We often spotlight monetary services and products that may enable you make smarter choices along with your cash. We don’t give funding recommendation or encourage you to undertake a sure funding technique. What you resolve to do along with your cash is as much as you. If you happen to take motion primarily based on one among our suggestions, we get a small share of the income from our commerce companions. This doesn’t affect whether or not we characteristic a monetary services or products. We function independently from our promoting gross sales staff.
For charges and costs of the American Specific Money Magnet® Card, please click on here.
Disclosure: This put up is dropped at you by the Private Finance Insider staff. We often spotlight monetary services and products that may enable you make smarter choices along with your cash. We don’t give funding recommendation or encourage you to undertake a sure funding technique. If you happen to take motion primarily based on one among our suggestions, we get a small share of the income from our commerce companions. This doesn’t affect whether or not we characteristic a monetary services or products. We function independently from our promoting gross sales staff.
Enterprise Insider could obtain a fee from The Factors Man Affiliate Community, however our reporting and proposals are all the time impartial and goal.
Please notice: Whereas the gives talked about above are correct on the time of publication, they’re topic to vary at any time and should have modified, or could now not be out there.
For charges and costs of the Blue Money On a regular basis® Card from American Specific, please click on here.
For charges and costs of the Blue Money Most popular® Card from American Specific, please click on here.
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