The American Express Cash Magnet Card does not have an annual fee, but some fees are rather high. For example, you will need to pay a foreign transaction fee of 2,7% if you will try to use you card abroad. Moreover, balance transfer and cash advance fees apply to the Cash Magnet Card.
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All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.