This content is not provided or commissioned by any issuer. Opinions expressed here are the author’s alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer.
Blue Cash Everyday® Card from American Express and American Express Cash Magnet® Card are cash back cards with the possibility of money-saving financing offers on new purchases. The two also share a host of identical features. The biggest difference between them is in how their rewards earnings are structured. Potential applicants will need to choose between higher rewards for certain categories or a flat rate on all purchases when deciding which is the better Amex card.
• If you spend a lot at grocery stores, gas stations and department stores every year, go with the Blue Cash Everyday card.
• If you want unlimited cash back rewards with equal value on everything you buy, go with Amex Cash Magnet.
Still undecided? Refer to the comparison chart below for a breakdown of the Blue Cash Everyday and Cash Magnet cards’ rewards, fees, APRs and other terms.
SIDE BY SIDE COMPARISON
|Network||American Express||American Express|
|Credit Card Company||American Express||American Express|
|Min Credit Required||Excellent or Good||Excellent or Good|
|Intro APR Period||15 months||15 months|
|Regular APR||13.99% - 23.99% (V)||13.99% - 23.99% (V)|
|Intro APR Period||N/A||N/A|
|Reward Type||Cash Back||Cash Back|
|Max Late Fee||$40||$40|
|Max Overlimit Fee||None||None|
|Max Default APR||29.99% (V)||29.99% (V)|
|Cash APR||25.24% (V)||25.24% (V)|
|Cash Advance Fee||5% (min $10)||5% (min $10)|
|One-time Setup Fees||None||None|
|Foreign Transaction Fee||2.7%||2.7%|
|Grace Period||25 days||25 days|
We work hard to present you with the most accurate credit card information, however, this information does not originate from us and thus, we do not guarantee the accuracy of the information.
Before you apply for a credit card we recommend that you review and verify the credit card terms and conditions on the credit card company's web site. Please let us know if you find any differences.
Ad Disclosure: Certain offers originate from paying advertisers, and this will be noted on a card's details page using the designation "Sponsored Card", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to list as many credit card offers as possible and currently have more than 1,200 offers, but we do not make any representation of listing all available offers.
American Express Blue Cash Everyday vs. Cash Magnet
American Express Blue Cash Everyday and Cash Magnet are so similar that either card is sure to be a hit. Blue Cash Everyday is better, though, if you want to maximize cash back in particular categories. If you like simple, straightforward cash back rewards, then Cash Magnet is the clear choice. Neither card is beneficial for spending abroad.