American Express Cash Magnet® Card

• 1.5% Cash Back on Purchases

  Earning

  Unlimited 1.5% cash back on purchases

  Terms & eligibility

  Excludes fees, interest charges, and certain purchase types per Amex terms; card closed to new applicants since Sep 25, 2024 (existing cardmembers retain benefit)

  Government source · Aug 24, 2026

  Included

• Redeem Cash Back at Checkout at Amazon.com

  Earning

  Use Reward Dollars at Amazon.com checkout

  Terms & eligibility

  Must link Cash Magnet Card to Amazon account; value same as statement credit redemption

  Government source · Aug 24, 2026

  Included

• Plan It®

  Access

  Payment option to manage payments for qualifying purchases over time

  Terms & eligibility

  Purchase must meet minimum threshold; plan fee applies instead of standard APR

  Government source · Aug 24, 2026

  Included

• Amex Offers

  Earning

  Earn extra rewards on qualifying purchases at select brands

  Terms & eligibility

  Must add offer to eligible Card; spend must occur during offer window

  Government source · Aug 24, 2026

  Included

• American Express Venue Collection™

  Access

  Enhanced experience at select stadiums/arenas; 10% back on qualifying concessions up to $250 per calendar year

  Terms & eligibility

  Must enroll Card; limit one enrolled Card per Card Member; select venues only

  Government source · Aug 24, 2026

  Est. value

  ~$250

  per eligible event

• Amex Special Ticket Access

  Access

  Access to Amex Presale Tickets® and Amex Reserved Tickets®

  Terms & eligibility

  Select events; subject to availability

  Government source · Aug 24, 2026

  Included

• Purchase Protection

  Protection

  Up to $1,000 per Covered Purchase, up to $50,000 per calendar year

  Terms & eligibility

  Theft or accidental damage only; subject to Amex Assurance exclusions

  Government source · Aug 24, 2026

  Included

• Car Rental Loss and Damage Insurance

  Protection

  Secondary coverage for damage to or theft of rental vehicle

  Terms & eligibility

  Secondary coverage (not primary); excludes rentals in Australia, Italy, and New Zealand; not all vehicle types or rentals covered; does not include liability

  Government source · Aug 24, 2026

  Included

• Premium Car Rental Protection (enroll required)

  Protection

  Primary coverage for theft/damage of rental vehicle and excess medical coverage

  Terms & eligibility

  Fees, coverage limits, and coverage areas apply; not all vehicle types or rentals covered; does not include liability

  Government source · Aug 24, 2026

  Included

• Global Assist® Hotline

  Access

  24/7 emergency assistance when traveling more than 100 miles from home

  Terms & eligibility

  Card Member responsible for costs charged by third-party service providers

  Government source · Aug 24, 2026

  Est. value

  ~$1

  on demand while traveling

• Send Money / Split Purchases (Venmo and PayPal)

  Access

  Send money to and split purchases with Venmo or PayPal users

  Terms & eligibility

  Must enroll; recipient must be a Venmo or PayPal user

  Government source · Aug 24, 2026

  Included

• Digital Wallets (Apple Pay, Google Pay, Samsung Pay)

  Access

  Use Card via Apple Pay, Google Pay, Samsung Pay digital wallets

  Terms & eligibility

  Must add Card to digital wallet

  Government source · Aug 24, 2026

  Included

• FICO® Score and Insights (via Amex MyCredit Guide)

  Access

  FICO® Score and Experian® credit report with personalized alerts

  Terms & eligibility

  Enrollment required; subject to Amex MyCredit Guide terms

  Government source · Aug 24, 2026

  Included

• CreditSecure® (paid add-on)

  Access

  Comprehensive credit and identity monitoring and fraud assistance

  Terms & eligibility

  New customers pay $1 for first 30 days, then $19.99/month until cancelled; sales tax added where applicable

  Government source · Aug 24, 2026

  Est. value

  ~$1

  ongoing while subscribed

Downgrade paths

Product changes usually keep your account age and credit line. Retained-value figures are estimates — confirm specifics with the issuer.

• Move to UNCONFIRMED — Cash Magnet is itself the entry-level card in the Amex consumer cash-back family

  no annual fee

  Unconfirmed pathRetained value not quantified

  Cash Magnet is itself the most basic Amex consumer cash-back card (flat 1.5%, $0 AF). Within the Amex consumer cash-back family, there is no further downgrade destination below Cash Magnet. Historically, Cash Magnet cardmembers have been offered UPGRADES (to BCE or BCP), not downgrades. Additionally, Cash Magnet is now closed to new applicants (Sep 25, 2024), so it is no longer a typical downgrade destination FROM BCP/BCE either. N/A

  Editorial estimate· reviewed Aug 24, 2026

• Offer reported2019-07-19 (Doctor of Credit article; pre-2024 reference)

  $200 statement credit after $1,000 spend when upgrading to Cash Magnet from BCE (targeted)

  $1,000 spendUNCONFIRMED1 datapoints · low confidence

  upd. 2 months ago

Offers vary by account and eligibility. Reported outcomes are not guaranteed. Community data shown here is an illustrative sample — never rely on it as a promise of what you'll be offered.