What are the Amex Cash Magnet fees? This question is about the American Express Cash Magnet® Card

What are the Amex Cash Magnet fees?

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This question is about the American Express Cash Magnet® Card

Mark Towers, WalletHub Credit Card Analyst

@MarkTowers • 09/09/20 This answer was first published on 09/10/20 and it was last updated on 09/09/20.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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There are several major American Express Cash Magnet fees, but the annual fee is $0. The card has a fee of 2.7% on all purchases made from foreign merchants, both in-person and online, which makes it not ideal for travel. The Amex Cash Magnet cash advance fee is 5% (min $10), so it’s best to avoid cash advances except for emergency situations. And lastly, the card has a maximum fee of $40 for paying late (or for having a payment returned for insufficient funds).

Amex Cash Magnet does not have a balance transfer fee, but only because the card does not allow balance transfers.

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.

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