Are you considering the Cash Magnet® Card? Before you apply for the card, you'll want to learn some key facts about the offer and how it compares to others on the market.
In reviewing the card, our staff rated it a 4.7 out of 5.0.
The Cash Magnet® Card is a simple, flat-rate cash back rewards card that competes with cards like the Capital One Quicksilver® and is a solid option if you don't like keeping track of rotating rewards categories.
Here's a rundown of the key features, rates, and terms of the Cash Magnet® Card:
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- Earn $200 back in the form of a statement credit after you spend $2,000 in purchases on your new card in your first 6 months
- Unlimited 1.5% cash back on every purchase
- 0% intro APR on purchases and balance transfers for 15 months from the date of account opening, then a variable APR applies
- Rental car loss and damage insurance when you use your eligible card to reserve and pay for the entire rental and decline the collision waiver at the rental company counter
- Find out if you prequalify for the Cash Magnet® Card or other offers in as little as 30 seconds.
- $0 Annual Fee
0% for 15 months
0% for 15 months
18.49% - 29.49% Variable
There's certainly a lot to like about the Cash Magnet® Card. Let's dive deeper into the card's rates and fees, as they could make or break whether owning the Cash Magnet® Card is right for you.
According to the issuer, the Cash Magnet® Card currently charges the following interest rates on purchases and balance transfers:
- Purchase Intro: 0% for 15 months
- Balance Transfer Intro: 0% for 15 months
- Regular APR: 18.49% - 29.49% Variable
Here's the annual fee for the Cash Magnet® Card as listed by the issuer:
See site for details »
According to the issuer, the current general credit history requirement for the Cash Magnet® Card is:
- Credit Level: Good/Excellent
If you feel you have the credit needed for approval and you're ready to apply, you can do so online on the issuer's secure website.
Keep in mind that rates and features may change, so if you like what the Cash Magnet® Card is offering today, you may want to apply now to lock it in current terms before it's too late.
Below are all the ratings our team gives the Cash Magnet® Card, along with the card's ranking within each category. To see how it compares to other cards, simply click on the category name:
All told, our team's review of the Cash Magnet® Card resulted in a rating of 4.7 out of 5.0, as the card features many pros and cons for a potential cardholder to consider. Ultimately, it's up to you to determine if the card's benefits outweigh its possible drawbacks.
If you're ready to apply for the Cash Magnet® Card, here is the link the issuer's official application:
Are you ready to apply for the Cash Magnet® Card offer? Be sure to read up on all of its terms and details first, then apply via the provider’s secure website:
If you’d like to keep researching, you may want to try one of our popular guides to the top offers available. We break down a variety of offers, including many similar to Cash Magnet® Card:
Whether you decide on Cash Magnet® Card or another option, be sure to make all your payments on time and keep your balance below the credit limit.