AMEX Cash Magnet card APPROVED

[jamesdwi]

saw the buzz abount the new card,  applied this morning and instaneously approved for 15k SL.  

didn't accept the card number so I guess it will take a few days till I can get details when the card arrives.

[CreditCuriosity]

Congrats grabbed as well got a cruddy 2k SL, but got it for bonus.. Suspect my 70k expsoure with Amex was the cause of my limit, but will just reallocate some of my CL to card as have a big purchase coming up to meet that 7500 spend

[Anonymous]

Congrats to you both. I really wish these converted to MR points or the redemption threshold was lower. Nonetheless, the signup bonus is great for a cash back card and very tempting. During the first year with signup bonus it blows all other cash back cards out of the water AND there’s no annual fee.

[jacetx]

Congrats!

[Anonymous]

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@CreditCuriosity wrote:

Congrats grabbed as well got a cruddy 2k SL, but got it for bonus.. Suspect my 70k expsoure with Amex was the cause of my limit, but will just reallocate some of my CL to card as have a big purchase coming up to meet that 7500 spend

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That is a very nice return on spend considering it can (and in my opinion should) be on non-cat spending.

Based on the regular 1.5% earn rate, that's $112.5 on the $7,500.

Then the $300 SUB portion, comes to a cumulative return of $412.5 return (base earn + SUB) for a 5.5% return on non-cat spend. That's assuming you stop your spend exactly at 7,500... otherwise the return percentage gets watered down slightly but still good return.

[Anonymous]

Congratulations!!!

[Anonymous]

Congrats on approval

[Anonymous]

Congrats!