Credit Compound
American Express
Cash Magnet
Personal · No AF

American Express Cash Magnet

Amex's 1.5% flat card. Closed to new applicants since 2024.

★ 6.4/10American ExpresspersonalCash Back
View Current OfferBest for: Existing holders who want one no-fee Amex

Welcome Bonus

$200

≈$200 value

Spend Requirement

$2,000

in 6 months

Annual Fee

$0

2.7% FTF

Credit Score

670+

(Good)

Current offer note: Last public offer, $200. Closed to new applicants 9/25/24

Historical Offers Chart

Every public offer change we've tracked. Hover for details, timing your application is worth hundreds of dollars.

Sign-Up Bonus (value)Spending Requirement ($)
$0$63$125$188$250$0$1,000$2,000$3,000$4,0002019-012020-012021-012022-012023-012024-012025-012026-01Sign-Up BonusSpending Requirement ($)

Last verified 2026-06-10 · spot an outdated offer? Tell us in the comments.

Earning Rates

  • 1.5xAll purchases

Credits

No statement credits, this card wins on earn rates, not coupons.

Benefits

  • ✦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.

View Current OfferAmerican Express application rules

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