You can use your American Express Cash Magnet credit card to pay for rental cars. This will allow you to decline the collision damage waiver at the rental company counter. Your card will cover damage to or theft of your rental vehicle in territories that are covered. However, not all vehicles and rental types get coverage. For example, Australia, Italy, and New Zealand are territories where your American Express Cash Magnet card does not offer insurance. However, with this card you get access to the Global Assist Hotline for 24/7 emergency assistance and coordination services if you travel over 100 miles from home. This coverage includes medical and legal referrals, missing luggage assistance, and emergency cash wires. Other terms and conditions may apply.

The American Express Cash Magnet credit card allows for balance transfers within the first 60 days from account opening. Through the Amex App you can also split purchases and send money with friends or family who use Venmo or Paypal (terms apply). The card also offers fraud protection against unauthorized charges with no deductible. You can also get up-to-date information about your reward earning, spending, etc., and have access to a year-end summary online.