View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
June 15, 2018

American Express introduces new Cash Magnet Card

American Express has brought a new Cash Magnet Card designed for customers who prefer earning rewards while conducting online transactions.

The new card carries no annual fee and offers unlimited 1.5% cash back on all purchases.

The Cash Magnet Card also comes with Pay It Plan It tool to allow users greater control and flexibility over their purchases.

Besides rewarding them for purchases, the Cash Magnet Card provides  customers multiple options of payment.

It comes with Plan It feature that will allow the card members to divide the prices of big purchases, thereby enabling them to pay a fixed monthly fee over time with no interest.

The feature can also be used to pay smaller purchases when they appear on  bills to reduce their monthly liability.

All these payments can be carried out through the Amex Mobile App.

Furthermore, the card offers various other benefits that are usually provided with American Express cards.

American Express Global Consumer Lending executive vice-president Kartik Mani said: “Our award-winning cash back products have always kept our customers’ needs front and centre.

“Today, we are excited to introduce the Cash Magnet Card, which offers compelling, unlimited cash back on purchases, with the exceptional experience and backing of American Express.”

Topics in this article: , , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Electronic Payments International