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American Express Cash Magnet™ Card: Earn up to $250 Back

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American Express, our partner, has the following offer on the Cash Magnet™ Card.
  • Earn up to $250 back. Here's how: Earn a $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership.
  • Plus, earn an additional $100 statement credit after you spend an additional $6,500 in purchases within your first 12 months.
  • Unlimited 1.5% Cash Back on your purchases.
  • Cash Back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 14.99% to 25.99%.
  • With 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 and protections you expect from American Express.
  • Over 1.5 million more places in the U.S. started accepting American Express® Cards in 2017.
  • No Annual Fee.
  • Terms Apply.
See Rates & Fees [americanexpress.com]
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Created 07-19-2018 at 09:13 AM by munzirules11
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3 Comments

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Joined Sep 2009
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#2
These deals where the signup bonus is split in half and the second half is a stupidly bad deal seem to be getting more and more common Frown
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Joined Oct 2004
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#3
Watch out for Amex's sneaky requirement of ONLY being able to reap rewards in increments of $25. This may or may not be the case with this card, but is a major bummer with their Blue card.

If you have eg. $10 in rewards dollars, you have to spend an additional $1000 (1000*.015=$15) to get any cash back, and it takes about 6 weeks for the cash back to register. Its a perpetual trap, and the system is not in your favor.
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Joined Mar 2004
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#4
Quote from Regroover
:
Watch out for Amex's sneaky requirement of ONLY being able to reap rewards in increments of $25. This may or may not be the case with this card, but is a major bummer with their Blue card.

If you have eg. $10 in rewards dollars, you have to spend an additional $1000 (1000*.015=$15) to get any cash back, and it takes about 6 weeks for the cash back to register. Its a perpetual trap, and the system is not in your favor.
They changed that, finally, to allow full redemption. Still have to have a $25 minimum but that's true for a lot of places, BoA, Citibank.

https://www.doctorofcredit.com/am...ash-cards/
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