To freeze an Amex Cash Magnet Card, log in to your online account or the American Express mobile app and navigate to “Freeze Your Card.” You can also call American Express customer service at 1 (800) 528-4800 and ask them to freeze your card, though it is much easier to lock and unlock a credit card on the app.
Freezing your Amex Cash Magnet Card will temporarily prevent most purchases from being made with your card number, which can be convenient if you lost your credit card or if you’re trying to control your spending. For lost cards, it’s also important to note that you’ll never be held responsible for unauthorized purchases thanks to a $0 fraud liability guarantee.
How to Freeze an Amex Cash Magnet Card Online
Log in to your American Express online account or mobile app.
Pick the Amex Cash Magnet Card and select Account Services.
Click Card Management.
Click the “Freeze Card” button.
Locking your Amex Cash Magnet Card will stop new purchases. But it will continue to allow recurring transactions, digital wallet purchases, and some online purchases where your card is on file. To start using your credit card at full capacity again, just navigate back to the Freeze Your Card page and unfreeze the Amex Cash Magnet Card.
The American Express Cash Magnet purchase protection benefit reimburses cardholders up to $1,000 per item and $50,000 per card for items purchased with the card that are damaged or stolen within 90 days. The coverage is only $500 per item for damages due to natural disasters.
Some purchased items do not qualify for Amex Cash Magnet purchase protection coverage. Those include animals or living plants, one-of-a-kind items, perishables, gift cards, motorized vehicles, downloaded services and more. Certain situations are also not covered, such as acts of war, confiscation by government authorities or the misplacing of an item. Be sure to read your benefits guide for the full details.… read full answer
To file an American Express Cash Magnet purchase protection claim, call 1-800-322-1277 within 30 days of the incident. The cardholder has until 60 days after the incident to submit proof of the loss, such as the original store receipt and damage estimates.
Click on the Inquiry & Dispute Center to open an inquiry.
Check for a confirmation e-mail from American Express verifying receipt of the inquiry.
Before you dispute a charge through American Express, you should first contact the merchant associated with the charge on your card. Merchants have easier access to your purchase information and should be better able to quickly remedy the issue. If for some reason, the merchant is unable or unwilling to work with you on a disputed charge, you can then file a dispute with American Express.
Once you’ve initiated the dispute, American Express will then contact the merchant and review any information provided by both parties. You won’t be charged for the disputed transaction, nor any associated fees or interest, while the dispute is under investigation. And you can still use your Amex Cash Magnet Card as you normally would while a dispute is ongoing.
American Express will notify you of the outcome of the dispute after they’ve completed their investigation. They will either issue a chargeback to your account for the contested amount, or allow the charge to stand. If the disputed charge is ruled to be valid, you would then have to pay that amount, including any applicable fees and interest charges that accrued during the dispute, starting from the original purchase date.
Your Amex Cash Magnet Card approval odds are best with a credit score of 700+. This means that you need at least good credit to get this card.
It is also worth noting that your credit score isn’t the only thing the issuer will take into account while considering your application. Your credit history, income and any debts you might have will also determine the outcome of your application.… read full answer
However, there’s no need to guess what your Amex Cash Magnet Card approval odds might be, as you can get them directly from Amex by using the company’s pre-qualification tool. Enter your name, your address, the last 4 digits of your Social Security number and your annual income, then press “View My Card Offers.” Amex will show you all the cards you are likely to be approved for.
If you see Amex Cash Magnet Card among them, that means your Amex Cash Magnet Card approval odds are high – around 90%. So, even if you are pre-qualified for a card, it’s still possible to be rejected.
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