One embodiment of a magnetic memory cell comprises a magnetoresistive element including a free layer comprising a reversible magnetization direction directed substantially perpendicular to a film plane, a pinned layer comprising a fixed magnetization direction directed substantially perpendicular to the film plane, and a tunnel barrier layer disposed between the free and pinned layers; means for providing a bias magnetic field pulse along magnetic hard axis of both the free and pinned layers, means for providing a spin-polarized current pulse through the magnetoresistive element along magnetic easy axis of both the free layer and the pinned layer, wherein the magnetization direction in the free layer is reversed by a collective effect of the bias magnetic field pulse and the spin-polarizing current pulse. Other embodiments are described and shown.