American Express
Amex Cash Magnet Benefits, Credits & Annual Fee
No annual fee · Earns Cash Back
The Amex Cash Magnet is a no-annual-fee card that earns a flat 1.5% cash back on every purchase, paid out as Reward Dollars redeemable for statement credits or at Amazon.com checkout. It's best for people who want simple, no-fuss cash back with no categories to track.
- 1.5%Everything Else
- $250Venue Collection
$250/yr in credits · $0 annual fee
Maintained by Creddy Editorial · Catalog checked Oct 1, 2026
Amex Cash Magnet at a Glance: No Annual Fee, Issuer and Rewards
- Annual fee:
- No annual fee
- Issuer:
- American Express
- Rewards:
- Cash Back
- Credits:
- 1 recurring, up to $250 a year
Amex Cash Magnet Earning Rates
| Category | Rate | Notes |
|---|---|---|
| Everything else | 1.5% |
Bonus category rates for this card are still being added.
Who Should Get the Amex Cash Magnet?
The Amex Cash Magnet fits people who want one flat rate: 1.5% on every purchase. It has no annual fee, so it costs nothing to keep.
Is the Amex Cash Magnet Worth It?
The Amex Cash Magnet has no annual fee. Creddy lists 1 trackable credit worth up to $250 a year if you use it, so anything you use is value on top of your rewards.
Check enrollment requirements, merchant restrictions, reset timing and the issuer's current terms before applying.
Amex Cash Magnet Welcome Bonus
- Welcome Statement Credit$200Min spend $2,000 in 180dMin charge $2,000
Spend $2,000 on purchases within your first six months of card membership and receive a one-time $200 statement credit. The credit is applied to your account automatically - no separate redemption step required.
Checked Jul 4, 2026
Amex Cash Magnet Statement Credits and When They Reset
- American Express Venue Collection Concessions Statement Credit$250 / yrTrackable
Get 10% back in statement credits on qualifying food and drink concessions at stadiums and arenas in the American Express Venue Collection. Enroll your card before paying with it. The credit is capped at $250 per calendar year.
Resets: Calendar yearChecked Oct 1, 2026
Amex Cash Magnet Travel Benefits
Rental Car
- Car Rental Loss and Damage Insurance
Covers damage to or theft of a rental car when you pay for the entire rental with your card and decline the collision damage waiver (CDW) at the counter. Coverage is secondary and does not include liability. Not available for rentals in Australia, Italy, or New Zealand, and not all vehicle types qualify.
Checked Oct 1, 2026 - Premium Car Rental ProtectionEnrollment required
Get primary coverage for damage to or theft of a rental vehicle, plus Accidental Death or Dismemberment coverage, every time you rent with your enrolled card. Enrollment in the program is required before your rental.
Checked Oct 1, 2026
More Amex Cash Magnet Card Benefits
Bonus Earnings
- 1.5% Cash Back on Purchases1.5%
Earn unlimited 1.5% cash back on every purchase with no category restrictions. Cash back comes as Reward Dollars, which you can redeem as a statement credit.
Checked Jul 4, 2026
Purchase Protection
- Purchase Protection
Covers stolen or accidentally damaged purchases made with your card for up to 90 days from the purchase date. Coverage applies up to $1,000 per covered purchase and $50,000 per calendar year.
Checked Sep 26, 2026
Concierge & Membership
- Global Assist Hotline
24/7 emergency assistance and coordination services are available whenever you travel more than 100 miles from home, covering medical and legal referrals, emergency cash wires, and missing luggage help. Call the hotline while traveling - note that you're responsible for any costs charged by third-party service providers.
Checked Sep 26, 2026
Entertainment
- American Express Venue Collection Entrances and Fast Lanes
Use designated American Express card member entrances or fast lanes at participating American Express Venue Collection locations. Look for the card member entrance or lane when arriving and have your card ready. Availability varies by venue.
Checked Oct 1, 2026 - Amex Presale Tickets
Amex Presale Tickets give you a chance to buy select event seats before tickets go on sale to the general public. Look for an Amex presale when buying tickets and use your American Express card. Access is limited to select events, seats, and presale periods.
Checked Oct 1, 2026 - Amex Reserved Tickets
Amex Reserved Tickets give you access to purchase seats set aside for American Express card members. Look for reserved tickets when shopping for an event and use your card to buy them. Availability is limited to select events, seats, and purchase periods.
Checked Oct 1, 2026
Fees & Miscellaneous
- FICO Score and Credit InsightsEnrollment required
Get free access to your FICO Score, your Experian credit report, and personalized alerts that flag potential unauthorized activity - all through American Express MyCredit Guide. Enrollment is required to activate access.
Checked Jul 4, 2026 - Redeem Cash Back at Amazon.com Checkout
Use your available cash back toward purchases at Amazon.com checkout. Select the option to apply cash back when you pay with your linked card. Your cash back has the same value there as it does when redeemed for a statement credit.
Checked Oct 1, 2026
Amex Cash Magnet vs Other American Express Cards
- Amex Blue Cash EverydayNo annual fee
- Amex Schwab InvestorNo annual fee
- Delta SkyMiles BlueNo annual fee
- Hilton HonorsNo annual fee
Related credit card guides
How to Track Credit Card Benefits Without a Spreadsheet
Build a reliable system for tracking statement credits, card perks, reset dates, and reminders without maintaining a complicated spreadsheet.
How Credit Card Statement Credits Actually Reset
Understand monthly, calendar-year, cardmember-year, and rolling statement credit resets so valuable card benefits do not go unused.
How to Calculate Credit Card Value vs. the Annual Fee
Compare the value you actually receive from a credit card with its annual fee using realistic credits, rewards, and perks.
Amex Cash Magnet FAQs
Is the Amex Cash Magnet Card worth the annual fee?
Compare Amex Cash Magnet's current annual fee with rewards and benefits you would actually use. Count credits at what they save you after eligibility, enrollment and extra spending costs, then compare the result with lower-fee alternatives. Include interest and other charges if you carry a balance.
Which benefits can Creddy track for Amex Cash Magnet?
Creddy's September 26, 2026 catalog check found no trackable benefit records for Amex Cash Magnet. That describes Creddy's tracking coverage, not the card's full rewards, insurance or issuer benefits. Review the earning tables and the exact issuer terms for those separate features.
What is the annual fee for the Amex Cash Magnet Card?
American Express's June 30, 2026 Cash Magnet agreement lists no annual membership fee. This is dated issuer evidence; confirm the current terms and any fee-change notices for your existing account.
Does the Amex Cash Magnet Card come with a welcome bonus?
Welcome offers for Amex Cash Magnet can change and may depend on your application or account history. Check American Express's current offer for the bonus amount, eligible spending, deadline and exclusions; a catalog entry does not guarantee an offer or your eligibility.
Who should get the Amex Cash Magnet Card?
Amex Cash Magnet may fit someone whose normal spending matches its eligible earning categories and who can use the benefits shown above. Compare the current fee, purchase restrictions and realistic redemption value with other cards before applying.
How does the Amex Cash Magnet Card compare to other American Express cards?
Compare Amex Cash Magnet with other American Express cards using annual fees, eligible earning rates and the benefits you would use. The card tables and issuer catalog help you compare conditions; headline multipliers alone do not establish the better card.