Re: Amex Cash Magnet

Anonymous · ‎06-21-2018

Currently have the gold and blue cash. Applied for magnet and was denied. They said the system sees it as a duplicate as I recently got the blue.

Was as told it was being investigated.

Today i was told not only does the system see the Magnet as a duplicate of the Blue, but also the review center. They said they are in the same family, hence the system seeing the Magnet application as duplicate. Was also told today that one can only have 1 cash rewards type card and that this is a new policy. The CSR recommended the Hilton card.

Very frustrated.

avp99 · ‎06-22-2018

Odd, I have the Blue Cash Everyday Card (i've had it since Feb) and I had no problems with the approval. Sorry to hear that ....

toadsworth · ‎06-22-2018

That’s weird, I’ve had the Blue Cash Everyday for over a year now, and had no issue with my Cash Magnet app or CLI.

Kind of have everything I want now, creditwise. Undeliberately gardening until I have some spending to do and find a 100,000 Amex Platinum offer lol

Started my credit journey August 2016, after abstaining from credit for years after some poor financial choices in high school. Started with scores in the 580s. Current scores 11/6/18 - EQ: 754 TU: 757 EX: 743

From oldest to newest: DuPage CU Visa Platinum, SL 500 now 3750, Cap1 Platinum SL 300 PC'd to QS now 1600, Alliant Credit Union Share Secured Loan $500, Amex BCE SL 5000 now 600, Neiman Marcus SL 700 now 10000, Target RedCard SL 400 now 2900, Amex ED SL 10000 now 500 (combined with Cash Magnet), Chase AARP SL 800 now 3300, Chase Amazon Prime SL 1000 now 10000, Honda Lease, Discover it SL 1000 now 7000, Synchrony PayPal 2% CB SL 3000 now 10000, Barclays Uber Visa SL 800 now 2100, Citi ThankYou Preferred SL 3300 now 5300, Chase Ritz-Carlton SL 10000 now 1500 (moved to other cards to get annual fee refund), Comenity Total Rewards Visa SL 2000 now 3250, US Bank Cash+ SL 500 recon'd to 10000, US Bank Reserve LOC 1000, Union Bank Rewards Visa SL 5000 now 5000, Amex Cash Magnet SL 9900 now 20000, Cap1 Venture SL 10000 now 10000, Discover it 3000 SL now 4000, Amex SPG Luxury 3100 SL now 3100, Amex Amazon Business Prime 10000 SL now 10000, Amex Gold NPSL, US Bank Premier LOC 5000, US Bank Visa Platinum 5400 SL currently reconning

Combined revolving CL $135,300

Goal: Spring 2019 800+ club, $50,000 combined Amex limit

Anonymous · ‎06-22-2018

Did you try HUCA or chatting with a different CSR online to see if the feedback is consistent?

@Anonymous wrote:
Currently have the gold and blue cash. Applied for magnet and was denied. They said the system sees it as a duplicate as I recently got the blue.

Was as told it was being investigated.

Today i was told not only does the system see the Magnet as a duplicate of the Blue, but also the review center. They said they are in the same family, hence the system seeing the Magnet application as duplicate. Was also told today that one can only have 1 cash rewards type card and that this is a new policy. The CSR recommended the Hilton card.

Very frustrated.

AverageJoesCredit · ‎06-25-2018

Any info you can add about your current credit profile ? FICO scores, aaol, inquiries aka hps. I'm heading on a year with my Blue Cash Everyday and had no issues getting the Magnet. When did you apply as well . Thanks and sorry.

Anonymous · ‎06-25-2018

I'm skeptical about this "new policy". The rep that I spoke with told me it's possible to have both.

UncleB · ‎06-25-2018

@Anonymous wrote:
I'm skeptical about this "new policy". The rep that I spoke with told me it's possible to have both.

+1

We already have more than a few people who have a BCE or BCP and got approved for the new Cash Magnet.

Viva-LV · ‎06-25-2018

@avp99 wrote:
Odd, I have the Blue Cash Everyday Card (i've had it since Feb) and I had no problems with the approval. Sorry to hear that ....

+1 Have the BCP for a couple of years, approval for CM no issues. I'd be calling back. Good luck!

Anonymous · ‎06-25-2018

In frustration I called back a few times since I was thinking I was misunderstanding something. Each person told me pretty much the same thing and that it was a new policy. After verifying that the magnet app was deleted as per their explanation and after being told any non cash back card is ok, I applied for the everyday card and was immediately approved for 11.5k, presumably since it’s reward set up is different.

So, all is good.

Anonymous · ‎06-26-2018

That is strange. I was recently approved for the Magnet and I've had the BCE since December and the ED since April/May.

Amex Cash Magnet Application

Amex Cash Magnet Application