Is the American Express Cash Magnet Card hard to get?

The Amex Cash Magnet Card annual fee is $0 per year. Amex Cash Magnet Card’s $0 annual fee is equal to the average annual fee among new credit card offers right now. It’s not the only fee you need to worry about with the American Express Cash Magnet® Card, though.

Amex Cash Magnet Card Fees:

• Annual Fee: $0
• Cash Advance Fee: 5% (min $10)
• Foreign Fee: 2.7%
• Max Late Fee: $40

It's generally harder to get an American Express card than it is to get a credit card from many other major issuers simply because all of Amex's credit card offers require good or excellent credit for approval. But American Express isn't the only credit card company to target people in the highest tiers of the credit score scale. Barclaycard and Chase do too, for example. And if you're fortunate enough to have good credit or better, an American Express credit card will be no harder to get than any other credit card.… read full answer

The easiest American Express cards to get are those that require a minimum of good credit for approval, as opposed to excellent credit only. You may also want to target cards that are co-branded with companies such as Delta and Hilton as well as offers with lower annual fees. Co-branded cards often have relatively high approval rates to accommodate more fans of the brand (e.g. Hilton) in question. And some of Amex's premium cards for big-spenders, which can be relatively difficult to get, have high fees.

Easiest American Express Cards to Get

• Blue Cash Everyday® Card from American Express
• The Amex EveryDay® Credit Card from American Express
• Delta SkyMiles® Blue American Express Card
• Hilton Honors American Express Card

Of course, American Express also evaluates each applicant's income and debt obligations to make sure they can afford monthly bill payments on a new line of credit. But there isn't much information available about Amex's standards in those regards, and you shouldn't expect them to differ too much from other credit card companies' policies.

You can check your latest credit score for free on WalletHub and then track your progress with free daily updates.

American Express has confirmed that an individual can have up to four Amex credit cards. The limit of four American Express credit card accounts includes normal Amex credit cards and cards co-branded with airlines, hotel chains, etc. There is a separate limit for American Express charge cards: 10. Charge cards aren’t as risky because they make it harder to rack up large balances that you can’t afford to repay.… read full answer

With that being said, American Express’s policies shouldn’t be a problem for most people. For one thing, most of us have a hard enough time managing one or two credit cards responsibly. And even if you use the Island Approach, designating different credit cards for specific types of transactions, it’s unlikely that more than four non-charge-card Amex credit cards will be among the very best offers for your needs.