At a Glance
| Amex Cash Magnet | Amex Hilton Honors | |
|---|---|---|
| Annual Fee | $0 | $0 |
| Base Rate | 0% | 0% pts |
| Restaurants | 0% base | 5% pts |
| Supermarkets | 0% base | 5% pts |
| Gas Stations | 0% base | 5% pts |
| Foreign Tx Fee | 2.7% | None |
| Transfer Partners | 0 | 0 |
| Min FICO Score | 670 (Good to Excellent) | 670 (Good to Excellent) |
| Network | American Express | American Express |
Estimated Annual Value
Spending profile: $1500/month total — $500 groceries · $300 dining · $150 gas · $50 streaming · $200 travel · $300 other. Amex Hilton Honors points valued at 0.4¢ each.
| Amex Cash Magnet | Amex Hilton Honors | |
|---|---|---|
| Est. Monthly Rewards | $0.00 | $0.19 |
| Est. Annual Rewards | $0 | $2 |
| Annual Fee (effective) | −$0 | −$0 |
| Net Annual Value | $0 | $2 |
Estimates computed from card data files.
Last verified: Amex Cash Magnet —,
Amex Hilton Honors —.
Adjust spending profile via page spending: front matter.
Important: The Amex Cash Magnet Is Discontinued
As shown in the card data above, the Amex Cash Magnet has been discontinued — it is no longer available to new applicants. If you currently hold the card, you can keep it open (it still earns and the no-annual-fee structure remains), but Amex is no longer accepting new applications.
If you’re searching for a comparison because you’re choosing between these two cards, note that Hilton Honors is the only one still available.
Why These Cards Get Compared
Both target the same profile: someone who wants a no-annual-fee Amex card without committing to a paid product. Beyond that, they work very differently.
Cash Back vs. Hotel Points: The Core Question
Look at the estimated annual value table above. The Cash Magnet’s value is straightforward — flat cash back on all purchases. The Hilton Honors card earns points toward Hilton stays, but the value of those points depends entirely on how you redeem them.
Hilton points are worth more when:
- You book off-peak stays at luxury Hilton properties (Waldorf Astoria, Conrad, etc.)
- You use the 5th night free benefit available on premium Hilton cards
Hilton points are worth less when:
- Redeemed for merchandise or gift cards
- Used at lower-tier properties where cash rates are already competitive
The point_value: 0.004 in this page’s front matter reflects a conservative 0.4¢/pt — typical for mid-tier Hilton redemptions. Premium redemptions can reach 0.6–0.8¢/pt.
For Current Cash Magnet Holders: What Now?
Since the Cash Magnet is discontinued, consider:
- Keep it open — the no-annual-fee structure means it doesn’t cost you anything, and the account age helps your credit score
- Upgrade to Blue Cash Everyday — Amex’s current no-fee cash-back card; earns 3% at US supermarkets vs. the Cash Magnet’s structure (see card data above)
- Product change to Hilton Honors — if you travel to Hilton properties, Amex may offer a product change to the Hilton Honors card
Contact Amex directly about product change options as they vary by account history.
The Axe-Sharpened Verdict
For anyone choosing a new no-fee Amex card today: the Cash Magnet is off the table. Your no-fee Amex options are the Amex Blue Cash Everyday (for grocery cashback) or Amex Hilton Honors (for Hilton loyalty).
Hilton Honors wins if you’re already a Hilton loyalist and have upcoming stays booked. Blue Cash Everyday wins if you spend heavily at US supermarkets and want straightforward cash.