Yes, you’d use the American Express Cash Magnet Card like any other credit card with merchants who accept American Express. You can choose to pay each statement in full to avoid credit card interest fees or carry a balance into the next month, but it’s not a charge card. Although you’ll enjoy an introductory 0% APR for the first 15 months after opening a new account, any balances carried over to the next month after that time frame will incur interest charges. Your interest rate will be 19.24% to 29.99% (variable), based on your creditworthiness.