Citi Double Cash® Card
vs. American Express Cash Magnet® Card

Both the Citi Double Cash and the Amex Cash Magnet card offer appealing cash back rewards and no annual fees, making them good for anyone seeking straightforward rewards. However, the Citi Double Cash Card edges ahead with its higher overall cash back rate of 2% on all purchases, which is effectively more rewarding than the 1.5% offered by the American Express Cash Magnet Card.

While the Amex Cash Magnet Card does provide a 0% introductory APR on purchases for the first 15 months, the Citi Double Cash Card's longer 0% introductory APR on balance transfers for 18 months may be more beneficial for those looking to manage existing debt. Both cards are accessible to those with good to excellent credit, but the Citi Double Cash card's acceptance of fair credit widens its appeal.

You might prefer the Citi Double Cash if you're focused on maximizing cash back with 2% on every purchase and have an eye on balance transfers, thanks to its lengthy 0% intro APR offer. This card is helpful for those who pay off their balances and want to see their rewards grow as they spend and repay.

You might prefer the Amex Cash Magnet if you're planning significant purchases soon and could benefit from a 0% intro APR on purchases for the first 15 months. It's also a solid choice if you prefer a simple cash back program with a flat rate on all purchases and value the added perks that come with American Express cards.

Evaluating APRs, fees, credit requirements, rewards and other features side by side clarifies which card aligns with your financial habits. For instance, if you plan to carry a balance, the Amex Cash Magnet's introductory APR offer might be appealing. If maximizing cash back is your goal, the Citi Double Cash provides a higher rewards rate. Assess each card's details here to determine the best fit for your wallet.

The Citi Double Cash Card edges out the Amex Cash Magnet with an effective 2% cash back on all purchases — 1% when you buy and another 1% as you pay for those purchases. This straightforward approach makes it a strong contender for those who value simplicity and higher cash back rates across the board.

While the Amex Cash Magnet offers a consistent 1.5% cash back on purchases, it falls short of the Citi Double Cash's overall reward potential. However, its lack of rotating categories or spending caps still makes it a reliable option for cash back.

The Citi Double Cash also offers a limited-time 5% cash back on travel bookings through the Citi Travel℠ portal, adding a valuable category for frequent travelers. This additional perk, along with its higher general cash back rate, positions the Citi Double Cash as the better option for rewards.

Please refer to the table below to compare the bonus categories offered by each card.

The Amex Cash Magnet offers the simplicity of redeeming rewards for statement credits, merchandise or gift cards, with the added benefit that cash back never expires. The Citi Double Cash provides the flexibility to redeem cash back directly to your bank account, as a statement credit, or by check. Additionally, Citi's ThankYou Points broaden your options to include gift cards and travel, though redemption values may vary. Importantly, rewards on the Citi Double Cash also do not expire as long as the account remains open.

MoneyGeek evaluates credit cards like the Citi Double Cash and Amex Cash Magnet using a tailored scoring system. In this comparison, both cards are assessed based on their performance in the cash back category.

The largest factors influencing their scores are the effective reward rate and the return on investment for offers. These elements, along with other considerations such as annual fees and issuer satisfaction, contribute to a comprehensive score that reflects the card's value. For a deeper understanding of our scoring process, you can review our ranking methodology.