New American Express Cash Magnet Card

[K-in-Boston]

Congrats to everyone being approved. I believe we've discovered June's Flavor of the Month.  Wonder who will win July?  Pretty sure we know Amex will reign again in August with the SPG Luxury card.

[Manonfire]

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@Anonymous wrote:

I applied for this and got approved instantly. While 1.5% isn't all that great, they have great "offers" and that alone is worth it to me. I don't mind keeping this card around just for that. 

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Congrats. Data points? and what CL did you receive?

[CreditCuriosity]

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@K-in-Boston wrote:

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@Adkins wrote:

This is interesting...

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@Adkins wrote:

Gardening until June 2019

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Lol...for every rule there is an exception esp people addicted to CC's and sub's

[CreditCuriosity]

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@K-in-Boston wrote:

Congrats to everyone being approved. I believe we've discovered June's Flavor of the Month.  Wonder who will win July?  Pretty sure we know Amex will reign again in August with the SPG Luxury card.

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Barclay's arrival + due to 60k point offer is my guess...Comes out July 1 or shall i say is resurrected yet again

[Anonymous]

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@Anonymous wrote:
The sign up bonus is great. $300 for $7500 spend. Can’t beat that. Would have applied but I just tried and it said I was not eligible for the sign up bonus, and really that is the only thing this card is good for. Was going to get my $300 and at 12 mo combine into ED Card. (I really only have interest in having my PRG and ED Cards-unless Amex comes out with a new card again. I don’t like the statement credit rule on their cash cards either. Much prefer to have it deposited into my bank)

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Seem pretty bad to me. You can get $200 on the BCE for 1k spend.   

[Anonymous]

Data points: 
750 score 

11 inqs 

4k credit limit - I have a card with Amex credit limit of 21k. Instead of asking for a CLI, I moved a little bit over to the Magnet card. I always decrease my CLs if they are too high anyways. I don't need more than 5k on a card. 

[QuakerOatmeal]

Very handsome card, but very meh reward structure.

[Anonymous]

It's a basic foundation card. What do you expect?  Citi Double cash is one the best foundation card. I've been with AmEx for awhile and they are one of my favorites. I have the PRG, Blue Cash, Hilton, for my travel needs. I use their offers on my cards a lot. If you don't, it won't be worth it to you. 
Get the Chase unlimited, freedom and sapphire  and use all three cards for more rewards if one is looking for something more 'valuable.'

[AverageJoesCredit]

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  @Subexistence wrote:
  

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  @Anonymous wrote:
  

  I'm guessing for the people that have been able to PC the BCE to this new card; the bonus wasn't availble to them, right? I'm thinking about PCing my BCE to this new card because I really don't use the catergories of the BCE.

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  Why you use magnet if you have a paypal 2%

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  Cuz PayPal dont stick

[AverageJoesCredit]

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@Kforce wrote:

    mountainvoltage wrote

-1.5% cash back when there's plenty of 2% cash back cards out there. 

- Still no option for direct deposit reward redemptions. 

- Probably a statement lag for rewards.

 +1,  Do not have any AMEX cards, Not a single card is good for my spend.

All I can say is that it is a very nice looking card.   

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Do not have any Barclays Cards, not a single card is good for my coffee drinking habits