The dynamics of satellites utilizing geomagnetic attitude control with a specific control law are analyzed. Two types of satellites are considered, namely single spin asymmetric satellites and dual spin satellites. Stability criteria and approximate description of the motion of the satellites are obtained in a parametric form (analytical) using the Generalized Multiple Scales (GMS) method. By means of this method, the rapid and slow parts of the dynamics are systematically separated, leading to insight into the nature of the system. Finally, a good agreement between the approximate analytical and numerical solutions is demonstrated.