American Express has sent out a notice to Clear from American Express cardholders informing them that their cards are being discontinued and will be converted automatically on August 20, 2025 to the Cash Magnet card. This was a basic card with no annual fee that earned a $25 gift card for every $2,500 spent.
I have the Clear Card. It constantly cracked or the chip emblem fell off. So they’d send new Clear Card. Well last month my card cracked again – they sent a blue card instead with no explanation. But the blue card has “tap and go” now. I will miss the $25 rewards card that used for groceries. But they will give statement credit instead – in long run still “pays” groceries via credits. It’s cheaper to issue statement credits than to manufacture rewards shopping cards and snail mailing as packages in large envelope.
I’ve had Amex clear card since 2003. Amex charged me a foreign transaction fee in 2022 when I charged my two week hotel room stay in Singapore to the card.
Recently Amex jacked up my APR from 17.99% to 23.99%.
I guess I have to pay off the card and stop using it.
It doesn’t matter that I’ve been a loyal customer for 20 years.
Before the 2008 economic downturn, my APR was 7.99%. After they gave a sob story that they needed to jack it up 13.99%.
Interesting that Amex is converting people to a card that is no longer offered. They stopped accepting applications for the Magnet in 2024.
Weird that they are converting at all. Prople with Magnet or Zync just keep using their cards.
no idea wat this card is.
ive had EDP and also Blue. both w/ clear cards. but i guess theres a card called Clear for Amex?
and ive been waiting for EDP refresh. seriously wtf.
Been waiting for them do something for “Blue Sky”
Those probably will also get converted into Cash Magnet cards. And the Cash Magnet will probably be refreshed into something else.
This card was from the 2000s when AMEX first made a major push into the mass-market with $0 AF cards offerings.
The Clear from AMEX was considered generous & consumer-friendly for the mass-market back then. It’s 1% automatic cash back and no fees – no late fees, no over limit fees, no cash advance fee. Remember, this was before the CARD act of 2008’s regulations on fees.
The AMEX Zync (the standard AMEX charge card design, but in white color) was another interesting one from that era. It was $25 AF, but you can add “packs” for additional perks & bonus earning categories.
Both were great first AMEX to get your foot in the door, and for many years AMEX backdates your credit history on all new AMEX cards to the opening date of your first AMEX.
didn’t even know about this card
So what if someone already has a Cash Magnet card in addition to the Clear card?
And, what happens to the reward points that might still be there on the Clear card?
Clear card doesn’t have points, you just get a giftcard with $2.5k in spend. I think they would just give you a second cash magnet.
You could product change to BCE in theory as they’re considered the same card family.
They do have something that they call “CLEAR Points” which are used to collect and track the total from spending until 2500 is reached which then automatically converts to a $25 American Express gift card that would get mailed out.
In that sense, if someone has let’s say 2000 of those “points” and are 500 away from the $25 gift card, what would happen in that case if the account gets converted to another card like the Cash Magnet card?
This is from the notice sent to Clear from American Express cardholders:
“… we will issue a statement credit for the value of any rewards earned or remaining on your Clear Card. For example, if you have 1,000 remaining rewards on your Clear Card, you will receive a $10 statement credit. Please call the number on the back of your Card if you do not see a statement credit on your account within 10-12 weeks of July 30, 2025.”
Thanks for that detail. Sounds like they’ll be taking care of any unused rewards, which is good to hear.
Not sure sorry
I think a lot of people are confused. Your platinum cards with a CLEAR credit are not being product changed. They are discontinuing a card called “Clear from American Express” and turning it into a cash magnet. Almost nobody seems to have heard of this card, myself included, so it is quite confusing.
Initially, I thought Amex was discontinuing Clear Me airport security. Whoa!
Amex is likely working on a refresh of the ED and EDP. It’s been years and the cards have really become irrelevant. If they match the EDP to the Capital One Venture, they’d have me back.
Same
Me too