American Express Cash Magnet Card
American Express is offering $200 sign up bonus for Cash Magnet Card. To be eligible, you have to spend $2,000 on purchases in the first 6 months from account opening.
American Express Cash Magnet Card offers unlimited 1.5% cash back on all purchases. Cash back is received in the form of Reward Dollars that can be redeemed for statement credits.
American Express Cash Magnet Bonus Summary
Bonus – $200
Required Spend – $2,000 within the first 6 months of account opening
Additional Offer – 0% intro APR for 15 months from account opening on purchases
Offer Expiry – No Information
Annual Fee – $0 (None).
Link for the Offer
Additional Card Benefits
- Amex Offers – Eligible Card Members can redeem an Amex Offer by first enrolling in the offer in their online account or in the American Express® App and then using their enrolled Card to pay.
- Purchase Protection – Protect covered purchase made on your card against accidental damage or theft, for up to 90 days from Covered Purchase date.
- ShopRunner membership – Complimentary ShopRunner membership that provides unlimited Free 2-Day Shipping, Free Returns, and exclusive benefits at all the stores in the network.
- Car Rental Loss and Damage Insurance – Decline the rental company’s collision insurance and charge the entire rental cost to your card. Provides secondary coverage for damage to or theft of a rental vehicle in a covered territory. Coverage is secondary to your personal insurance and does not include liability coverage.
- Premium Card Rental Protection – Pay a flat rate per rental for up to 42 consecutive days. With Premium Card Rental Protection, there is no deductible and you can file that claim with Amex as primary provider. It is a paid service.
- American Express Experiences – Exclusive access to tickets presales and Card Member only events in select cities.
- Amex Auto Purchasing Program
Our Review of Best Cash Back Credit Cards
BonusCoach’s List of Best Credit Card Bonus
The Fine Print
The welcome offer, intro APRs, and intro plan fees are not available to applicants who have or have had this Card. We may also consider the number of American Express Cards you have opened and closed as well as other factors in making a decision on your welcome offer, intro APRs, and intro plan fee eligibility.
To qualify for the $200 statement credit, you must make eligible purchases with your American Express Cash Magnet® Card that total $2,000 or more (the “Threshold Amount”) within your first 6 months of Card Membership, starting from when your account is approved. The statement credit will be applied 8-12 weeks after the Threshold Amount is met. If we in our sole discretion determine that you have engaged in abuse, misuse, or gaming in connection with the welcome offer in any way or that you intend to do so (for example, if you applied for one or more cards to obtain a welcome offer (s) that we did not intend for you; if you cancel or downgrade your account within 12 months after acquiring it; or if you cancel or return purchases you made to meet the Threshold Amount), we may not credit the statement credit to, we may freeze the statement credit credited to, or we may take away the statement credit from your account. We may also cancel this Card account and other Card accounts you may have with us. Eligible purchases can be made by the Basic Card Member and any Additional Card Members on a single Card Account. Eligible purchases are purchases for goods and services minus returns and other credits. Eligible purchases to meet the Threshold Amount do NOT include fees or interest charges, cash advances, purchases of traveler’s checks, purchases or reloading of prepaid cards, purchases of gift cards, person-to-person payments, or purchases of any cash equivalents. Additional Card Members on your account are not eligible for this offer. To earn the $200 statement credit, your Card account must not be canceled or past due at the time the statement credit is posted to your Card account. For questions regarding your Card account, please call the number on the back of your Card.
Final Thoughts
$200 bonus after spending $2000 is below average as most of its peer offer $200 bonus but with lower spend requirements. Also, we prefer American Express Blue Cash Everyday to this card.
