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American Express Cash Magnet® Card vs Chase Freedom Unlimited®

Earn a flat cashback rate on everything you buy.

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Megan Horner
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Fact checked

The American Express Cash Magnet® Card and the Chase Freedom Unlimited® are almost identical. The main difference is the welcome offer — the Chase Freedom Unlimited® requires you to spend half the amount to earn it.

American Express Cash Magnet® Card

American Express Cash Magnet® Card

Terms apply, see rates & fees

Chase Freedom Unlimited®

Chase Freedom Unlimited®

Terms apply, see rates & fees
Finder rating
Finder rating

★★★★★

4.3 / 5.0

★★★★★

4.7 / 5.0
Best for
Best for
  • Flat cash back on all purchases
  • Unlimited 1.5% cash back on every purchase
Welcome offer
Welcome offer

$150 statement credit after spending $1,000 in the first 3 months

$200 after spending $500 in the first 3 months, plus 5% cash back at grocery stores (not including Target® or Walmart®) on up to $12,000 in the first year
Rewards
Rewards

1.5% cash back on all purchases (redeem as statement credit)

5% cash back on travel purchased through Chase, 5% on Lyft, 3% on dining and drugstores and 1.5% on all other purchases
Purchase APR
Purchase APR

0% intro APR for 15 months, and then 13.99% to 23.99% variable

0% intro APR for 15 months, and then 14.99% to 23.74% variable

Annual fee
Annual fee $0 $0
Balance transfer APR
Balance transfer APR

N/A

 14.99% to 23.74% variable
Cash advance
Cash advance

APR: 25.24% variable

Fee: $10 or 5% of the transaction, whichever is greater

APR: 24.99% variable

Fee: $10 or 5% of the transaction, whichever is greater
Foreign transaction fee
Foreign transaction fee 2.7% of each transaction 3% of each transaction
Late payment fee
Late payment fee Up to $40 Up to $40
Additional cardholder fee
Additional cardholder fee $0
Interest-free period
Interest-free period 25 days 21 days
Minimum interest
Minimum interest $0
Minimum credit score
Minimum credit score 680 670
Card type
Card type Credit Credit
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