American Express Cash Magnet® Card
vs. Capital One Quicksilver Cash Rewards Credit Card

Both the American Express Cash Magnet® Card and the Capital One Quicksilver Cash Rewards Credit Card offer enticing cash back rewards and no annual fee, making them top contenders for anyone seeking a straightforward rewards card. The Quicksilver edges ahead with a lower spend requirement for its welcome bonus, making it more appealing for many users.

The Amex Cash Magnet's 0% introductory APR for 15 months on purchases is a compelling feature for those planning significant spending soon.

Ultimately, the best card for you depends on your preference for introductory spending bonuses vs. longer-term APR benefits.

You might prefer the Amex Cash Magnet if you're looking for a straightforward cash back card with a consistent rewards rate on all purchases. With its unlimited 1.5% cash back and a potential $200 statement credit after meeting the spending requirement, it's a solid choice for those who prefer American Express and can utilize its additional travel and shopping benefits. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.

You might prefer the Quicksilver if you want a card that offers a quick win, with its lower spending requirement for the welcome bonus and diverse earning potential. The additional 5% cash back on travel booked through Capital One Travel and the unlimited 1.5% cash back on all other purchases make it a versatile card for everyday spending and travel.

Evaluating APRs, fees, credit requirements, rewards, introductory offers and additional features will help determine which card aligns with your financial landscape. Pinpoint the differences, such as balance transfer fees or exclusive travel rewards, to discern which card complements your spending habits and rewards preferences.

The Quicksilver card offers a slightly higher expected reward value than the Amex Cash Magnet. Both cards provide a straightforward 1.5% cash back on all purchases, but Quicksilver takes the lead with its additional 5% cash back on hotels and rental cars booked through Capital One Travel. This extra category makes Quicksilver the more rewarding option for those who travel and book through Capital One's platform.

While the Amex Cash Magnet doesn't offer higher rates in specific categories, its flat-rate cash back is consistent across all spending. If you prefer simplicity and don't often book travel through Capital One, the Amex Cash Magnet offers a solid rewards program.

Below is a table of bonus categories to help you compare the rewards programs of both cards at a glance.

Both the Amex Cash Magnet and Quicksilver offer cash back with flexible redemption options. The Amex Cash Magnet allows you to apply your cash back as a statement credit or redeem it for merchandise or gift cards. There is no expiration on your earnings.

The Quicksilver provides a similar range of redemption choices, including statement credits and checks, with the added convenience of automatic redemption settings and no expiration as long as the account remains open.

MoneyGeek rates and reviews various credit cards like the Amex Cash Magnet and Quicksilver for various use cases, with each card receiving scores for different scenarios. In this comparison, we focus on the use case where each card scores the highest, which is cash back for both. The most significant factors in determining these scores are the effective reward rate and the return on investment for offers.

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