The new American Express Cash Magnet Card has a little bit complicated sign up bonus. Firstly, in order to receive $150 cash back, you need to spend $1,000 or more in purchases with your new Card within the first 3 months. Secondly, to get another $100 you will need to spend additional $6,500 in purchases within your first 12 months. To conclude, in order to get full $250 bonus, spend at least $7,500 on a card within first year (do not forget to spend first $1,000 within first three months).
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