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  American Express® National Bank Cash Magnet® Credit Card

American Express® National Bank Cash Magnet® Credit Card

in Personal Credit Cards from American Express National Bank

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American Express® National Bank Cash Magnet® Credit Card

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in Personal Credit Cards from American Express National Bank

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Highlights
Purchase APR  (Variable APR) 13.99% - 23.99%
Balance Transfer APR  (Variable APR) N/A
Credit Score Range 700 - 850
Annual Fee $0

American Express® National Bank Cash Magnet® Credit Card Review

If you're wondering whether American Express® National Bank Cash Magnet® Credit Card is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.

Key Takeaways
  • 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 15 months.
  • Signup bonus. Offers a signup bonus of $200 if you spend $1000 within 3 months.
  • Competitive APRs. American Express® National Bank Cash Magnet® Credit Card has a variable purchase APR that ranges from 13.99% up to 23.99%.
  • No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your purchases, but you don't have to pay an annual fee for the privilege.
  • Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 2.7% every time you make a transaction outside the U.S.
  • Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, emergency support, identity theft protection, travel assistance, and fraud protection.
  • Good or better credit required. You will have low approval odds if your credit score is below 700.
Pros & Cons of American Express® National Bank Cash Magnet® Credit Card
The Good The Bad
  • Lower than average purchase APRs.
  • 0% APR on new purchases during the first 15 months.
  • No annual fee.
  • Multiple credit card perks.
  • Offers auto rental collision damage waiver.
  • Identity Theft Protection.
  • Travel assistance insurance
  • American Express® National Bank Cash Magnet® Credit Card reports to multiple credit bureaus.
  • Requires good to excellent credit.
  • Charges a foreign transaction fee of 2.7%.
American Express® National Bank Cash Magnet® Credit Card FAQ

Does American Express® National Bank Cash Magnet® Credit Card have a cash back or rewards program?

No, it does not offer a rewards program. This is a cashback card. This means you earn a percentage of your purchases as cash back rewards. You will receive 1.5% cash back on travel, dining, groceries, drugstore purchases, or any other purchase. For example, if you buy a $1,000 laptop, you will receive $15 back in cash.

What are the American Express® National Bank Cash Magnet® Credit Card benefits?

It provides the following benefits:

  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Zero fraud liability
  • Travel Assistance
  • Reports to major credit bureaus

What are the relevant APRs for American Express® National Bank Cash Magnet® Credit Card?

This is a charge card and therefore doesn't have a regular APR or interest charges. You must pay your balance in full every month.

What are the fees for American Express® National Bank Cash Magnet® Credit Card?

The following fees apply:

  • There is no overlimit fee
American Express® National Bank Cash Magnet® Credit Card Fees
Fees Amount
Annual Fee $0
Overlimit Fee $0
Foreign Transaction Fee 2.7%
Returned Payment Fee up to $40
Late Payment Fee up to $40

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.

Does American Express® National Bank Cash Magnet® Credit Card have a foreign transaction fee?

American Express® National Bank Cash Magnet® Credit Card charges a foreign transaction fee of 2.7%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $54. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge foreign transaction fees.

What is the customer service phone number for American Express® National Bank Cash Magnet® Credit Card?

The American Express® National Bank Cash Magnet® Credit Card customer service number is (800) 528-4800.

What is the support contact email for American Express® National Bank Cash Magnet® Credit Card?

The support contact email for American Express® National Bank Cash Magnet® Credit Card is info@americanexpress.com.

Does American Express® National Bank Cash Magnet® Credit Card report your account activity to credit bureaus?

Yes, American Express® National Bank Cash Magnet® Credit Card reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for American Express® National Bank Cash Magnet® Credit Card

  • Visit the American Express® National Bank Cash Magnet® Credit Card website.
  • Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
  • Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Hours of Operation

  • Sunday 7:00am - 12:00pm
  • Monday 7:00am - 12:00pm
  • Tuesday 7:00am - 12:00pm
  • Wednesday 7:00am - 12:00pm
  • Thursday 7:00am - 12:00pm
  • Friday 7:00am - 12:00pm
  • Saturday 7:00am - 12:00pm

Other Services by American Express National Bank

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Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Introductory Rate 0%
Purchase Intro APR Period (Variable APR) 15 months
No Annual Fee
Annual Fee $0
Over-Limit Fee $0
No Interest Grace Period for Late Payment 25 days
Cash Advance Fee Minimum $10
Cash Advance Fee (%) 5%
Minimum Cash Advance Fee ($) Starting at $10
Foreign Currency Transaction Fee 2.7%
Returned Payment Fee Up to $40
Late Fee Amount Up to $40
Customer Type Personal
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 700 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Identity Theft Protection
  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Fraud Liability
  • Travel Assistance
Rewards Categories
  • 1.5% Cash Back on Every Purchase
Signup Bonus $200
Cash Advance APR (Variable APR) 25.24%
Balance Computation average daily balance (including new purchases)
Penalty APR (Variable APR) 29.24%
Purchase APR (Variable APR) 13.99% - 23.99%
Card Type
  • Low Interest
  • Cashback
  • Bonus Offers
  • Zero Percent
  • Charge Card
Card Network American Express

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