American Express Cash Magnet Card – $350 Sign Up Bonus (Extra 3.5% Cashback)

Update 2/2/20: Deal is appearing via incognito mode again. Also comes with a 0% introductory APR for the first 15 months. Hat tip to Econ0mist

The Offer

No direct link to offer, shows up via incognito mode for some

  • American Express is offering an additional 3.5% cash back on purchases within 6 months up to $350 (in addition to the standard 1.5% cash back)

 

 

Card Details

Our Verdict

This offer basically works out to be spend $10,000 within the first six months and get a $350 bonus. Previous best bonus was for $300 but only required $7,500 in spend within 12 months. This is an extra $50, but requires $2,500 in spend. Most people will/should prefer the previous offer, but obviously that’s not available so signing up for this offer/card might make sense. The 1.5% ongoing earn rate is not that interesting as lots of other cards earn at a higher rate, for a full list of those click here. If you’re thinking of applying, make sure you read these things everybody should know about American Express cards first.

Hat tip to arunkumarmm on myFICO

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