Who is covered under the American Express Cash Magnet card benefits?

For rental car CDW, the Card Member, their spouse or Domestic Partner, and any Authorized Drivers listed on the Rental Agreement are covered. For purchase protection, extended warranty, and return protection, the primary cardholder and additional card members on the same account are covered, provided the item was purchased with the Cash Magnet card. Passengers in the rental vehicle are not covered for personal accident.

Does the American Express Cash Magnet card cover rental car damage?

Yes. The Cash Magnet includes secondary Car Rental Loss and Damage Insurance up to $50,000 through AMEX Assurance Company. Secondary means your personal auto insurance pays first and AmEx covers the remainder, including applicable deductibles. Charge the full rental to your card, decline the rental company's CDW at the counter, and sign the rental agreement as the primary driver. Coverage applies for up to 30 consecutive days. File claims at americanexpress.com/protectionbenefits or call 1-800-338-1670.

How do I file a claim with the American Express Cash Magnet card?

For CDW, purchase protection, extended warranty, or return protection claims, file at americanexpress.com/protectionbenefits or call 1-800-338-1670. Notice must be provided within 30 days of the incident. For CDW, submit the rental agreement, itemized repair bill, charge slip, and a copy of your personal auto insurance. For purchase protection, provide the original receipt and documentation of the damage or theft. Proof of Loss must be submitted within 60 days. AmEx processes payment within 30 days of satisfactory documentation.

What does the American Express Cash Magnet card NOT cover?

The Cash Magnet does not include trip cancellation, trip interruption, trip delay reimbursement, emergency medical coverage abroad, or emergency evacuation. There is no baggage insurance for lost, delayed, or damaged luggage. CDW is secondary in the US, so your personal auto insurer is involved first on rental damage claims. Cell phone protection, price protection, and event ticket protection are not included. Rental vehicles in Australia, Italy, and New Zealand are excluded from CDW. Motorcycles, RVs, and peer-to-peer rentals such as Turo are also excluded.

Do I need separate medical insurance if I have the American Express Cash Magnet card?

Yes. The Cash Magnet includes no emergency medical coverage whatsoever. If you travel internationally, every dollar of any hospital bill, emergency treatment, or medical evacuation is your responsibility. A single ER visit in Japan or Europe typically costs $20,000 to $80,000. An air ambulance from Southeast Asia can exceed $200,000. The Global Assist Hotline can provide referrals to local medical providers, but it does not pay for care. For any international travel, a standalone travel insurance policy covering emergency medical is necessary.

Is cell phone protection included with the American Express Cash Magnet card?

No. The Cash Magnet does not include cell phone protection. Theft or accidental damage to your phone, including cracked screens, is not covered. Replacing a flagship smartphone out of pocket costs $800 to $1,300. If cell phone protection matters to you, consider a card that offers this benefit, typically requiring the monthly phone bill to be charged to the card, or purchase a standalone phone insurance plan.

Is the American Express Cash Magnet card enough coverage for international travel?

Not on its own. The Cash Magnet provides secondary CDW on rental cars, $1,000 purchase protection, return protection, and extended warranty, but has zero trip cancellation, zero trip delay reimbursement, zero emergency medical coverage abroad, and no baggage insurance. For international travel, a medical emergency can cost $50,000 or more. The Cash Magnet is designed as a flat-rate daily spend card, not a travel protection card. A standalone travel insurance policy or a dedicated travel credit card is necessary to cover medical emergencies and non-refundable bookings abroad.

Amex Cash Magnet card benefits: does the insurance coverage actually hold up?

American Express·$0/year·American Express

Pauline LauroreAuthor of HelloSafe's card insurance reviewsUpdated June 11, 20268 min read

0,9/5Travel Insurance gap.Independent review · verified June 2026

Travel Insurance

0,0

Car Rental

2,8

Protection

2,2

Our Verdict · Travel Insurance

Our opinion on Cash Magnet Travel Insurance

Expert review · Pauline LauroreAuthor of HelloSafe's card insurance reviews

No travel coverage. Zero. Here's what that means the moment your flight gets canceled or your bag disappears. Most cardholders assume a no-fee card includes at least trip delay reimbursement. The amex cash magnet benefits page lists nothing on that front: no trip cancellation, no trip delay, no emergency medical abroad, no evacuation benefit. Airlines are not required to cover meals or hotel stays during weather delays. A single ER visit in Japan or Italy runs $20,000 to $80,000, with zero reimbursement from this card. If you travel internationally without a separate travel insurance policy, every exposure is yours. If the Cash Magnet is your daily spend card and a different card handles your flights, the gap may be covered elsewhere.

What works on travel

Global Assist Hotline available 24/7 when more than 100 miles from home: medical, legal, and travel referrals at no cost

Where travel breaks down

No trip cancellation: every non-refundable flight, hotel, and tour is at your expense if you need to cancel
No emergency medical coverage abroad: a single ER visit in Japan or Europe runs $20,000 to $80,000
No trip delay reimbursement: meals, lodging, and transportation during any delay are fully out of pocket
No baggage insurance: lost, delayed, or damaged luggage has no coverage through this card
No emergency evacuation: air ambulance from a remote destination can exceed $200,000

Travel Insurance · 11 guarantees

What does my Cash Magnet card's travel insurance cover?

Quality, not just caps

Guarantee

Status

Limit · Cap

Trip cancellation

Not covered

No trip cancellation coverage on this card. Any non-refundable booking is entirely at your expense if you need to cancel.

Medical fees abroad

Not covered

No emergency medical insurance on this card. Every dollar of any hospital bill abroad is yours. A serious ER visit in Italy or Japan runs $20,000 to $80,000.

Medical repatriation

Not covered

No evacuation benefit on this card. Air ambulance from a remote international destination typically costs $100,000 to $300,000, entirely out of pocket.

Trip interruption

Not covered

Transport delay

Not covered

Missed connection

Not covered

Lost luggage / theft

Not covered

Baggage delay

Not covered

Baggage loss

Not covered

Personal liability

Not covered

Hotel theft protection

Not covered

We source benefits from official card guides, but PDFs are sometimes hard to obtain or update. Spotted something off?

Report an error Send updated PDF

Coverage Radar

Where the Magnet wins, where it loses

An 8-dimension snapshot compared to the Autograph Journey ($95/yr) and the average premium travel card.

Compare

Cash MagnetThis card0.9/5?

$0/yr

With travel insuranceIdeal

Complete coverage · 5.0 / 5

Premium card avg.

$150 avg. annual fee

Autograph Journey

Wells Fargo · $95/yr

Click a layer to highlight its scores on the radar.

Side-by-side comparison

How the Magnet stacks up against the alternatives

Same 5 coverage dimensions, ranked head-to-head against the cards most Magnet shoppers also consider.

Card	This card Cash Magnet American Express · $0/yr 0.9/5?	Hilton Honors Aspire American Express · $550/yr 2.9/5?	Aeroplan Chase · $95/yr 3.2/5?	Sapphire Reserve Chase · $795/yr 3.9/5?
Trip cancellation Per person, per trip cap	Not covered Cover this gap →	$10,000 per trip 7 covered reasons	$1,500 per person All prepaid travel	$10,000 per person 13 covered reasons
Emergency medical Hospital bills abroad	Not covered Cover this gap →	Not covered	$2,500 Reimbursement only	$2,500 \| $50 deductible $50 deductible
Emergency evacuation Air ambulance + repatriation	Not covered Cover this gap →	Not covered	$100,000 Pre-auth required	$100,000 \| pre-auth required Pre-authorization required
Trip delay trigger Hours before benefits kick in	Not covered Cover this gap →	6h / $500 Trigger: 6 hours	12h / $500 Trigger: 12 hours	$500 after 6 hours Trigger: 6 hours
Rental CDW Primary or secondary	Secondary / $50,000 Secondary CDW	Primary (intl) / $75,000 Primary outside US	Secondary / $75,000 Secondary CDW	Primary / $75,000 Primary coverage

StrongLimited / misleadingNot covered

Data verified against each card's Guide to Benefits, May 2026.

r/creditcards

January 2025

Return protection came through when the store said no

Bought a vacuum on sale and it broke after 6 weeks. The store refused to take it back past the 30-day return window. Filed a return protection claim with AMEX Assurance. Got $270 back within 4 weeks. The $0 annual fee card having return protection built in is something I did not expect. Very useful.

r/amex

October 2024

CDW works but secondary means your insurer gets notified

Used the CDW on a rental car in Phoenix. Declined the counter waiver, charged the full rental to the Cash Magnet. Rear bumper scrape on return. AMEX covered what my personal insurance did not after the deductible. Total process took about 6 weeks. Works, but secondary means your personal insurer is notified first.

r/personalfinance

March 2024

Good daily card but useless for any travel coverage

The Cash Magnet is fine as a flat-rate cashback card for everyday spending. CDW, purchase protection, and return protection are solid no-fee benefits. But if you travel at all, flights, hotels, international trips, you need a different card for insurance. This card has nothing on that front.

US Assistance

1-800-228-6855

24/7

International Assistance

collect: +1-715-343-7977

Collect calls accepted · 24/7

Benefit administrator: AMEX Assurance Company for CDW, Purchase Protection, Extended Warranty, and Return Protection

Claims & pre-authorizations

How to file a Cash Magnet card claim

Step 1: Notify within 30 days

For CDW, purchase protection, extended warranty, or return protection claims, visit americanexpress.com/protectionbenefits or call 1-800-338-1670 (international: 1-303-273-6497, collect) within 30 days of the incident. Note your claim number immediately: it is the critical document at the start of the process.

Step 2: Gather your documents

For CDW: itemized repair bill, copy of the Rental Agreement, charge slip for the rental, copy of personal auto insurance or a notarized letter stating no insurance, driver's license, and police report if applicable. For purchase protection: original purchase receipt and documentation of the damage or theft. For return protection: original receipt and written evidence the merchant refused the return. For extended warranty: original purchase receipt and manufacturer warranty documentation.

Step 3: Submit Proof of Loss within 60 days

Submit all documents within 60 days of the incident at americanexpress.com/protectionbenefits. AmEx processes payment within 30 days of receiving satisfactory Proof of Loss. Some cardholders report auto-approval for smaller claims with minimal documentation. For CDW claims, expect some back and forth if the rental agency demand letter is required.

Most Cash Magnet benefits activate automatically when you pay with the card. For rental car CDW, charge the full rental to your Cash Magnet card and decline the collision damage waiver at the counter. For purchase protection, extended warranty, and return protection, the item must be purchased with the card. No pre-registration is required. The Global Assist Hotline at 1-800-228-6855 is available 24/7 for referrals when you are more than 100 miles from home.
For rental car CDW, the Card Member, their spouse or Domestic Partner, and any Authorized Drivers listed on the Rental Agreement are covered. For purchase protection, extended warranty, and return protection, the primary cardholder and additional card members on the same account are covered, provided the item was purchased with the Cash Magnet card. Passengers in the rental vehicle are not covered for personal accident.
Yes. The Cash Magnet includes secondary Car Rental Loss and Damage Insurance up to $50,000 through AMEX Assurance Company. Secondary means your personal auto insurance pays first and AmEx covers the remainder, including applicable deductibles. Charge the full rental to your card, decline the rental company's CDW at the counter, and sign the rental agreement as the primary driver. Coverage applies for up to 30 consecutive days. File claims at americanexpress.com/protectionbenefits or call 1-800-338-1670.
For CDW, purchase protection, extended warranty, or return protection claims, file at americanexpress.com/protectionbenefits or call 1-800-338-1670. Notice must be provided within 30 days of the incident. For CDW, submit the rental agreement, itemized repair bill, charge slip, and a copy of your personal auto insurance. For purchase protection, provide the original receipt and documentation of the damage or theft. Proof of Loss must be submitted within 60 days. AmEx processes payment within 30 days of satisfactory documentation.
The Cash Magnet does not include trip cancellation, trip interruption, trip delay reimbursement, emergency medical coverage abroad, or emergency evacuation. There is no baggage insurance for lost, delayed, or damaged luggage. CDW is secondary in the US, so your personal auto insurer is involved first on rental damage claims. Cell phone protection, price protection, and event ticket protection are not included. Rental vehicles in Australia, Italy, and New Zealand are excluded from CDW. Motorcycles, RVs, and peer-to-peer rentals such as Turo are also excluded.
Yes. The Cash Magnet includes no emergency medical coverage whatsoever. If you travel internationally, every dollar of any hospital bill, emergency treatment, or medical evacuation is your responsibility. A single ER visit in Japan or Europe typically costs $20,000 to $80,000. An air ambulance from Southeast Asia can exceed $200,000. The Global Assist Hotline can provide referrals to local medical providers, but it does not pay for care. For any international travel, a standalone travel insurance policy covering emergency medical is necessary.
No. The Cash Magnet does not include cell phone protection. Theft or accidental damage to your phone, including cracked screens, is not covered. Replacing a flagship smartphone out of pocket costs $800 to $1,300. If cell phone protection matters to you, consider a card that offers this benefit, typically requiring the monthly phone bill to be charged to the card, or purchase a standalone phone insurance plan.
Not on its own. The Cash Magnet provides secondary CDW on rental cars, $1,000 purchase protection, return protection, and extended warranty, but has zero trip cancellation, zero trip delay reimbursement, zero emergency medical coverage abroad, and no baggage insurance. For international travel, a medical emergency can cost $50,000 or more. The Cash Magnet is designed as a flat-rate daily spend card, not a travel protection card. A standalone travel insurance policy or a dedicated travel credit card is necessary to cover medical emergencies and non-refundable bookings abroad.