Originally Posted by
DoubleJ
So let me get this straight--getting the card by itself will give me the no FX transaction fees. With the brokerage account, I can get the 2% rebate as well. While the package may be the way to go, I would hate to go through the process of opening both the account and the card, only to find the terms of either the no FX fee/2% rebate/or both changed later in the future. The card I can easily open, and then cancel if necessary. The account not so easy. Is there any other incentive for opening a Schwab One account?
You HAVE to open a brokerage account in order to open the card. Cannot have the card by itself.
Close a brokerage account if you have any asset in it, does cost you account closing fee.
Therefore unless there is a fool-proof way to drain all the rebates out from the brokerage account, it would be only a good deal if you intend to keep a Schwab brokerage account.