The newly launched American Express Cash Magnet Card is a no annual fee card that provides unlimited 1.5% cash back on all of your purchases.
Plus, during the American Express Cash Magnet Card special launch bonus offer that runs through July 18, 2018, new card members can earn up to $300 cash back after qualifying purchases.
You’ll earn $150 cash back after you spend $1,000 on purchases in the first 3 months of card membership.
You’ll earn an extra $150 cash back after you spend an additional $6,500 on purchases within the first 12 months of card membership (for a grand total of $7,500 in purchases).
All of the cash back that you earn on the American Express Cash Magnet Card will be provided in the form of Reward Dollars, which can be redeemed for statement credits, gift cards, and merchandise.
Although unlimited 1.5% cash back may not be quite as good as the Unlimited 2% Citi Double Cash Card, you may wish to apply for the American Express Cash Magnet Card during this special $300 bonus launch promotion to qualify for the extra cash rewards.
American Express Cash Magnet Card Features
- Earn Unlimited 1.5% Cash Back on All Card Purchases with No Caps and No Categories.
- Earn up to $300 Bonus Cash Back: Get $150 after $1,000 in purchases within first 3 months; Get an Additional $150 after an Additional $6,500 in purchases within first 12 months.
- Receive Your Cash Back in the form of Reward Dollars, which can be redeemed as a Statement Credit, Gift Card, or for Merchandise.
- Plan It: You can set up a monthly payment plan for large purchases with a fixed monthly fee and no interest charges, all with the same rewards.
- Pay It: You can pay off smaller purchase amounts as soon as they appear on your bill, thus lowering your monthly statement balance.
- 0% Intro APR on Purchases and Balance Transfers, then a variable APR.
- No Annual Fee.
Just visit the American Express Website to apply for the new American Express Cash Magnet Card by July 18, 2018, to qualify for this special $300 bonus launch offer.
$300 Special Launch Offer for Cash Magnet Card
To qualify for the first $150 statement credit, you must make purchases with your Cash Magnet Card that total $1,000 or more within your first 3 months of card membership.
To qualify for a second $150 statement credit, you must make an additional $6,500 in purchases on your Cash Magnet Card (for a grand total of $7,500 or more) by the end of your first 12 months of card membership.
You do not need to qualify for the first $150 statement credit in order to qualify for the second $150 statement credit.
The statement credits will be applied 6 to 8 weeks after you meet each threshold amount.
Purchases to meet the threshold amounts do NOT include fees or interest charges, balance transfers, 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.
If your application is not received by July 18, 2018, American Express will not process your application even if they later receive your application.
Unlimited 1.5% Cash Back for Cash Magnet Card
You will earn unlimited 1.5% cash back on all of your eligible card purchases.
Your 1.5% cash back will be provided to you in the form of Reward Dollars.
You can redeem Reward Dollars for statement credits whenever your available reward dollars balance is $25 or more.
American Express may offer you other ways to redeem Reward Dollars, such as for gift cards or merchandise.
Pay It with Cash Magnet Card
Pay It is only available in the American Express Mobile App for your eligible Cash Magnet Card account.
With the Pay It feature, you can make a payment equal to the amount of a billed purchase less than $100.
Payments made with Pay It are not applied to that billed purchase but to your outstanding balance in accordance with how they apply payments.
Plan It with Cash Magnet Card
Plan It allows you to create up to 10 active payment plans for qualifying purchases of $100 or more, subject to a plan fee.
This fee is a fixed finance charge that will be charged each month that a plan is active.
You may use this feature by selecting a qualifying purchase and a plan duration.
Qualifying purchases will be identified in your American Express online account or American Express Mobile for your eligible Cash Magnet Card account.
Your ability to create plans will be based on a variety of factors such as your creditworthiness or your credit limit.
Sign up for the new American Express Cash Magnet Card during this special $300 launch promotion to qualify for extra cash rewards and earn unlimited 1.5% cash back on all of your card purchases with no limits on how much you can earn.