Bottom Line: The American Express Cash Magnet® Card makes for a great everyday card and its bonus makes it an excellent pick for short-term rewards for those able to meet the spending requirements.
The minimum credit score needed for Amex Cash Magnet is around 700. That's the case for most other Amex cards, too. There are also several other variables that can affect American Express's decision to approve your application: income, debt-to-income ratio, and your previous credit card history.
While it's not just your credit score that American Express is looking at, you'll likely need at least a score in the mid-to-high 600s to be approved for the Cash Magnet. The card is aimed at consumers that have good or excellent credit.
No, Amex Cash Magnet is not a metal card. ... It's good to note that metal credit cards are usually relatively expensive luxury rewards cards, compared to the Cash Magnet Card, which has a $0 annual fee and offers 1.5% cash back on all purchases.
Amex EveryDay also offers rewards on up to $6,000 spent at U.S. supermarkets each year but provides a lower earning rate: 2 points per $1. That rate also applies to eligible purchases made on amextravel.com. ... But all things considered, Blue Cash Everyday wins this category, thanks to its higher earning rates.
Editorial and user-generated content is not provided, reviewed or endorsed by any company. The Amex Blue Cash Preferred credit limit is $1,000 to nearly $30,000, according to reports from Blue Cash Preferred cardholders online.
What is the highest limit you can apply for? Our Platinum Credit Cards can have a maximum credit limit of up to $50,000. All other Credit Cards have maximum limits of up to $25,000. However, your limit will depend on your financial circumstances and the Card you choose.
What credit score does American Express MyCredit Guide provided? The score provided by American Express MyCredit Guide is the VantageScore® 3.0 credit score by TransUnion®.
It's harder to get an American Express card than it is to get a credit card from many other major issuers simply because all of Amex's credit card offers require good or excellent credit for approval. ... And some of Amex's premium cards for big-spenders, which can be relatively difficult to get, have high fees.
You can request a credit limit increase from American Express online or over the phone. To make your request online, log in to your credit card account and select Account Services > Card Management > Increase Your Credit Limit.
Description: CashMagnet turns your phone into a passive income machine. The app pays you for letting your phone browse the web to collect points. Points are redeemable for PayPal cash and free gift cards.
American Express has two great cash back credit cards: the no-annual-fee Blue Cash Everyday® Card from American Express (See Rates & Fees) and the Blue Cash Preferred® Card from American Express, which comes with a $0 introductory annual fee for the first year, then $95 annual fee (See Rates & Fees).
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