Amex cash Magnet 5% for 6 months offer

[arunkumarmm]

Hi Guys,

I'm not sure if this was already informed but when I went to AMEX site to try the prequal, I saw it said 'special offer for you' for most of the cards. But it was there for a while like 70K for platimum, 50K for gold, 45K for Green etc.,

What I never saw before was 5% back for 6 months upto $350 for Cash Magnet and $300 for BCP and $175 for BCE.

[Anonymous]

That offer for the Cash Magnet would require $10K of spend to hit the $350. If you have a lot of non-cat spending, it's not bad but the $200 for $1K normal Cash Magnet SUB and a second card with a $150 SUB would require a lot less spend. 

The BCP and BCE offers have been incognito for awhile -- I actually signed up for my BCP last month with a $300 incog offer. 

[kdm31091]

I'm not surprised. Some lenders are heading more towards longer term spend offers vs a quick spend $500 and get $100, etc. These types of offers encourage longer term use of the card, even though mathematically you are usually better off with other offers unless you plan to spend a ton on the card.

[Anonymous]

I do have ~10k expense each year that doesn't fall into any category of my cards. Sadly they don't take amex, lol.

[Anonymous]

It seems like they are copying the CFU a bit since they are similar in that they offer flat 1.5% cash back. CFU was offering 3% unlimited CB up to $20K for the first year. It’s all marketing. Most people won’t take the time to do math and figure out that while 5% back the first 6 mths sounds good, it’s only really beneficial for big spenders. I’m poor so I would rather get $150 or whatever for $1k spend...that’s 15% back! Maybe it works best for someone who is going to do a lot of non category spending that no other card would offer the 5% CB.

[Shadowfactor]

You got my interest until I saw the $350 cap. Boo!