American Express Cash Magnet
By Alex Compton · Last verified
Amex's 1.5% flat card. Closed to new applicants since 2024.
Welcome Bonus
$200
Last recorded offer
Spend Requirement
$2,000
Last recorded requirement
Annual Fee
$0
Last recorded · 2.7% FTF
Credit Score
670+
(Good)
Common Questions
Is the American Express Cash Magnet discontinued?
Yes. Last public offer, $200. Closed to new applicants 9/25/24. Amex's 1.5% flat card. Closed to new applicants since 2024.
What can I use instead of the American Express Cash Magnet?
The closest open alternatives we track are the Blue Cash Preferred, Blue Cash Everyday Card, Hilton Honors American Express Card. Each links to our full review with its current offer and complete breakdown.
Open Alternatives
The Cash Magnet is gone, but these cards do a similar job and are still accepting applications.
6% at US supermarkets. The family grocery card.
3% groceries, gas, and online retail with no fee.
Free hotel status and big point hauls for no fee.
Historical Offers Chart
Every public offer change we've tracked. Hover for details, timing your application is worth hundreds of dollars.
| Observed | Offer | Requirement | What changed | Evidence |
|---|---|---|---|---|
| 2026-06 | $200 | $2,000 in 6 mo | Terms reconfirmedLast public offer, $200. Closed to new applicants 9/25/24 | Archive record · no attached snapshot |
| 2021-01 | $200 | $2,000 in 6 mo | Bonus increased: $150 → $200 · Spend: $1,000 → $2,000 · Window: 3 → 6 months$200 | Archive record · no attached snapshot |
| 2019-01 | $150 | $1,000 in 3 mo | Earliest record$150 | Archive record · no attached snapshot |
Primary-source verification log
Append-only evidence ledgerEvent-level primary-source attachments begin with the September 2026 verification system. Older records remain visible but are not retroactively presented as evidenced.
Historical record · spot an outdated offer? Report a correction above.
Embed this chart on your site (free, with attribution)
Bloggers and journalists: paste this snippet to embed the live, auto-updating bonus history chart. Attribution to Credit Compound is included in the widget.
Last Recorded Earning Rates
These terms are historical context and are not presented as current.
- 1.5xAll purchases
Last Recorded Credits
No statement credits, this card wins on earn rates, not coupons.
Last Recorded Benefits
Confirm availability and enrollment requirements with the issuer.
- ✦Amex Offers
- ✦Purchase protection
- ✦Intro APR offers historically
Why it earns its spot
- +Simple unlimited 1.5% with no fee
- +Amex Offers add real value on a free card
Where it costs you
- −Closed to new applicants since September 2024
- −1.5% flat is below the 2% bar set by Citi Double Cash and others
The Compound Verdict
Amex quietly shelved this card in September 2024 and nothing of value was lost for new applicants. If you hold one it still works fine, but a 2% card beats it for every dollar of unbonused spend.
Rate this card
Be the first to rate it
Commentson Cash Magnet
Comments are stored in your browser during our community preview. Accounts, moderation and cross-device sync arrive with Credit Compound Community.