“On Thursday, the company released the American Express Cash Magnet card. It has no annual fee and pays unlimited 1.5% cashback. There is no cap on the amount of cashback cardholders can earn. And cardholders earn the cash on all types of purchases, not just ones in certain categories like groceries or restaurant meals. AmEx created the Magnet card partly in response to customer demand for cards with perks that are easy to understand, said Liz Bergman, the vice president of proprietary lending product management at American Express.”