The Cash Magnet is no longer accepting applications, so this take is only relevant if you already carry it. For existing cardholders, it remains a straightforward card: 1.5% cash back on all eligible purchases with no annual fee and no categories to track. That simplicity makes it fine to keep as a catch-all card or to preserve the age of your credit history. The tradeoff is that the earn rate is now matched or beaten by many open cards, and there are no listed benefits beyond the cash back itself. If you are shopping for a new flat-rate card, you will need to look elsewhere.
Earn rates & credits
| Category | Rate |
|---|---|
Everything Else 1.5% unlimited cash back on all eligible purchases | 1.5% |
Approval odds
Product changes
Where cardholders came from before landing on this card, and what they moved it to afterwards. Thicker flows carry a larger share of the changes in that direction.
Cash MagnetBased on 1 reported product change. Percentages are shares of each direction, not of all cardholders, and a small sample can swing a long way.