Looking for a credit card with 0 APR that offers cash rewards without the hassle of rotating categories or annual fees? In today’s world of credit cards with various features and rewards programs, choosing the right one can be overwhelming. That’s why for those seeking a straightforward cash rewards, the American Express Cash Magnet Card might be a great fit. This card offers a simple rewards structure and a 0% intro APR, making it a compelling option for many cardholders.
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This card offers unlimited 1.5% cash back on all eligible purchases, making it a straightforward option for earning rewards. Besides that, you can also enjoy a 0% introductory APR for 15 months on purchases and balance transfers. Plus, there’s no annual fee!
Credit card with 0 apr and other benefits
- Unlimited 1.5% Cash Back: Earn cash rewards on all eligible purchases without restrictions or limitations.
- 0% Intro APR for 15 Months on Purchases and Balance Transfers: Enjoy a grace period on interest charges for purchases and balance transfers for 15 months from account opening.
- Welcome Bonus: Earn a one-time bonus of $200 after $2,000 spent on purchases on your new card within the first six months of card membership.
- No Annual Fee: Keep more of your hard-earned cash with no annual fee.
- Purchase Protection: Get peace of mind with protection that covers your eligible purchases against damage or theft for up to 120 days.
- Extended Warranty: Enjoy an additional year of coverage on eligible purchases beyond the manufacturer’s warranty.
- Global Travel Benefits: Access various travel benefits, including travel accident insurance, baggage insurance, and trip cancellation/interruption insurance.
- American Express Offers: Take advantage of exclusive discounts and offers from various merchants.
Drawbacks:
- Lower Cash Back Rate: The cash back rate is relatively low when compared to other cash rewards cards.
- No Sign-Up Bonus: Unlike many other cards, the Cash Magnet Card does not offer a sign-up bonus.
- Foreign Transaction Fee: There is a 2.75% foreign transaction fee for purchases made outside the U.S.
- Limited Rewards Redemption Options: Cash rewards can only be redeemed as a statement credit or direct deposit to a bank account.
Is this credit card with 0 APR right for you?
There are a few key things to consider about the American Express Cash Magnet Card. First, to be eligible, you must have a credit score that falls within the “Good to Excellent” range. Second, this card is classified as a “Cash Rewards” type, meaning you earn points or cash back on your purchases. The specific rewards program offered by this card is “Cash Back,” so you’ll earn a percentage of your spending back as cash. Lastly, it’s important to note that this card has no annual fee, making it a budget-friendly option for many cardholders.
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The American Express Cash Magnet Card is a solid choice for those seeking a no-frills cash rewards card with a 0% intro APR and no annual fee. While the cash-back rate is lower than some other cards, the lack of restrictions and limitations on earning rewards makes it a straightforward option for those who want to earn cash back on their purchases.
If you want a no-annual-fee cash rewards card with a 0% intro APR and no restrictions on earning rewards, click here to learn how to apply!
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Disclaimer: This information is not financial advice. Please consult a financial professional for guidance tailored to your specific situation. Rates and terms are subject to change. Refer to the credit card company’s website for the most up-to-date information.