New American Express Cash Magnet Card: $300 Bonus, 1.5X Everywhere and No Annual Fee

American Express today announced the newest addition to its cash back portfolio — the no annual fee American Express Cash Magnet Card. The new card offers unlimited 1.5% cash back on all purchases. The Cash Magnet Card also features Pay It Plan It™, an innovative payment tool that gives Card Members control and flexibility over how they pay for the things they buy.

American Express Cash Magnet Card

Signup Bonus

Today through July 18, new Card Members will have the opportunity to earn up to $300 Cash Back.

  • New Card Members can earn $150 back after they spend $1,000 on purchases in their first 3 months of Card Membership.
  • Plus, earn an additional $150 back after spending an additional $6,500 on purchases within the first 12 months of Card Membership.
  • 0% intro APR on purchases and balance transfers for 15 months, then a variable APR, 14.49% to 25.49%.

Cash back will be received in the form of a statement credit.

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Card Benefits

  • Unlimited 1.5% Cash Back — no caps, no categories
  • No annual fee (rates and fees)
  • Pay It Plan It, an innovative payment feature from American Express that gives Card Members control over how they pay for the things they buy
  • Special launch offer:

The Card also features many of the benefits and services that Card Members have come to expect from American Express, including a complimentary ShopRunner membership and Amex Offers, which rewards Card Members at places they like to shop, travel and dine.


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