American Express Cash Magnet® Card
vs. Discover it® Chrome

Both the American Express Cash Magnet® Card and Discover it® Chrome offer enticing cash back rewards and introductory APRs. The Amex Cash Magnet edges ahead due to its longer 0% introductory APR period on purchases and balance transfers and its generous statement credit offer.

However, the Discover it Chrome offers a unique first-year cash back match, which can be highly rewarding.

While neither is a co-branded or store card, both are solid choices for their respective strengths in cash back and balance transfer benefits.

You might prefer the Amex Cash Magnet if you value simplicity in your rewards program. It offers a flat rate of 1.5% cash back on all purchases. Its longer 0% introductory APR on purchases can be particularly beneficial if you plan to make large purchases you want to pay off over time without accruing interest.

You might prefer the Discover it Chrome if your spending aligns with its bonus categories. You can earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Its longer introductory APR period on balance transfers and lack of foreign transaction fees make it a strong contender for travelers and those looking to transfer and pay down existing debt.

Evaluating APRs, fees, credit requirements, rewards and other features will clarify which card aligns with your financial landscape. For instance, if you frequently dine out or spend on gas, Discover it Chrome's 2% cash back on gas and dining could be lucrative. Conversely, consistent spenders across all categories may find Amex Cash Magnet's unlimited 1.5% cash back more beneficial.

The Amex Cash Magnet keeps things simple with an unlimited 1.5% cash back on all purchases. This flat rate is appealing for its ease of use and consistent reward structure across all spending categories.

The Discover it Chrome caters to those who frequent gas stations and restaurants, offering 2% cash back on up to $1,000 in combined purchases each quarter in these categories. All other purchases earn an unlimited 1% cash back.

While the Amex Cash Magnet offers a good return on all spending, the Discover it Chrome may be the better choice for those who can maximize the bonus categories. The table below details bonus categories to help you compare the rewards programs of both cards at a glance.

With the Amex Cash Magnet, you can redeem your cash back as a statement credit, for merchandise or gift cards. You don't have to worry about expiration or earning caps.

Discover it Chrome allows redemption for statement credit, direct deposit, Amazon payments and more. Rewards also have no expiration.

MoneyGeek evaluates credit cards like the Amex Cash Magnet and Discover it Chrome using a tailored scoring system for different use cases. For instance, the Amex Cash Magnet scores highest for cash back rewards, while Discover it Chrome is top-rated for balance transfers. Four major factors influence these scores: the value of rewards, the cost of annual fees, customer satisfaction and penalties. For a deeper understanding of our ranking process, you can explore our ranking methodology.

For rates and fees of the American Express Cash Magnet® Card, please click here.