Update 11/20/22: Bonus reduced to $200.
The Offer
Direct link to offer, shows up via incognito mode for some
- American Express is offering a bonus of up to $300 on the Cash Magnet card. Bonus is broken down as follows:
- $150 cash back after $1,000 in spend within the first six months
- 10% cash back up to $150 on grocery store purchases for the first six months (you might also see a max of $100, keep trying till you get the $150 maximum. It took me a lot of tries to get the better offer to show up)
Card Details
- No annual fee
- Card earns 1.5% cash back on all purchases
- Contains lifetime language
Our Verdict
We’ve seen a bonus of up to $350 in the past. This $300 bonus is probably better for most people due to much less spend required. There was also a $300 bonus but that required $7,500 in spend. With this current bonus you could spend $1,500 at a grocery store and that would be enough to trigger both bonuses. Because of that I think this is the best bonus we’ve seen on this card before and I’ll be adding it to the best credit card bonuses. If you’re going to apply, make sure you read these things everybody should know about American Express cards first.
Hat tip to Chase-ing UR points
View Comments (56)
Should this be removed or edited on Best Credit Card bonuses page since it's down to $200
dead, back to $200back after $2Kspend
i received an offer for $200 cash back today after $2000 in purchases in first 6 months
If I am an existing Amex Credit Card holder, applying for this would be a hard pull?
seems dead, only see $200/2k
Received an offer in the mail today to switch from BCE to CM and earn a $50 statement credit.
Data point 3/18/21: I was approved for a 250 statement credit / 1,000 spend in 3 months. I clicked on the direct offer and then clicked on Blue Cash card and it jumped from 200 to 250 offer. I was not using incognito mode. I'm new to AMEX and didn't get the instant card access. Cash advance is automatically turned off per chat with CS and requires enrollment for a pin.
I'm getting an offer for $200 statement credit after spending $1k in 3-months instead of the $150
https://www.americanexpress.com/us/credit-cards/card/cash-magnet/
Special Offer For You
Earn $200 Back
after you spend $1,000 in purchases on your new Card in your first 3 months of Card Membership. You will receive the $200 back in the form of a statement credit.†
This offer may not be available if you leave this web page and return later.
Featured Benefits
Unlimited 1.5% Cash Back
Earn unlimited 1.5% Cash Back on your purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.‡
Same, with no grocery credit.
Sure, why not? We easily burn through the $6k/yr on the BCP and the $1.5k on the Freedom (if grocery is a category), so another $1.5k (for $1.2k effectively) won't hurt. Worst case, we get gift cards to other places.
If I order groceries online via Hy-Vee aisles, instacart and such, will this offer apply?