American Express Cash Magnet Card: Unlimited Cashback Rate

The American Express Cash Magnet Card is ideal for those seeking straightforward cashback without any additional costs.

Although the card offers a 1.5% cashback rate, which may be considered relatively low compared to other cards, its benefits can be quite attractive.

Therefore, explore everything the card has to offer, as its advantages go beyond cashback and zero annual fees.

About the American Express Cash Magnet Card

Firstly, we can’t overlook the range of cards that American Express provides.

The bank offers everything from simple everyday use cards with reduced fees to premium versions that may offer more advantages and robust rewards.

However, the American Express Cash Magnet Card is among the more basic cards offered by the bank. Thus, the card’s primary focus is its cashback rewards system.

Additionally, the card offers some services that are appealing to its cardholders.

Services offered by the card

The American Express Cash Magnet Card provides exclusive services to its cardholders.

These services range from access to pre-sale tickets to earning rewards on qualified purchases.

Check out the following exclusive services:

• American Express Experiences: Cardholders gain access to pre-sale tickets and exclusive events such as concerts, Broadway shows, sports events, family events, and more.
• Pay It: The Pay It feature of the American Express Cash Magnet Card offers convenience when paying for a purchase. For payments equal to or less than $100, you can make the payment through the American Express app.
• Plan It: Plan It allows you to split purchases of $100 or more into monthly installments with a fixed fee.

An interesting feature is that this fee is shown in advance, so you’ll know exactly how much you’ll pay in installments. Plus, you’ll earn rewards for your purchases.

• Earn More with Amex Offers: Amex Offers help cardholders earn rewards on selected purchases. Simply make your purchases through Amex Offers and pay with your card.

• Send & Split: With this option, you can send money and split purchases with any other Venmo or PayPal user, all directly through the app.
• Cashback Tracking: Easily access your account online to track your cashback balance, spending, and potential rewards in dollars.
• Year-End Summary: Usually available in January, the year-end summary presents all charges posted to your account during the previous year.
• Global Assist Hotline: This feature is ideal for when you travel more than 100 miles from home, as it offers 24/7 emergency assistance and coordination services.

This includes medical and legal referrals, emergency money transfers, and assistance in case of lost baggage.

• Balance Transfer: The card also offers balance transfer services in the first 60 days after opening the account.

Basic information about the American Express Cash Magnet Card

By now, you can see that the card offers exclusive and advantageous services to its cardholders.

But beyond that, there are some basic pieces of information that can help you better understand what this card has to offer.

Firstly, it is an annual fee-free card that comes with a quite interesting welcome bonus.

It offers a 1.5% cashback rate and a 0% introductory APR for the first 15 months.

However, it has a pre-approval tool and requires a credit score between good and excellent for those wishing to obtain the card.

In addition to these details, there are still exclusive advantages and benefits offered to American Express Cash Magnet Card holders.

Conclusion

The American Express Cash Magnet Card brings an interesting and attractive rewards proposition to its cardholders.

In addition to services that can cater to both everyday use and travel, it’s essential to be aware of any extra charges that may apply to certain services.

Therefore, explore the card’s advantages and see why it might be the ideal card for you.