Lisa Cahill, Credit Cards Moderator
The Amex Cash Magnet Card exchange rate is American Express's exchange rate on the date you make a purchase, plus any foreign transaction fees. While American Express exchange rates change daily, the Amex Cash Magnet Card foreign fee is always 2.7% of the transaction.
It's best to use a credit card with no foreign transaction fee when making purchases from international merchants. As long as you have such a card and avoid dynamic currency conversion, the exchange rates you'll pay on international spending with a credit card will be much lower than those you'd get from converting cash with banks, credit unions, or airport currency exchange services.
All information about the American Express Cash Magnet® Card has been collected independently by WalletHub. The American Express Cash Magnet® Card is no longer available to new applicants through WalletHub, but may be available on the American Express website.
American Express Cash Magnet® Card
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