Originally Posted by
CarefulBuilder14
http://www-qa.schwab.com/public/schw...s/credit_cards
$100 annual credit for having $250k+ at Schwab, or $200 for having $1M+. Assets will be measured shortly after applying, and then once again each year.
MRs can be converted to cash deposits at Schwab at 1.25 cpp. (Not that many people here would actually do that...)
I'm going to go for it. I can try out Platinum perks for a reduced AF and maybe go for the proprietary Platinum when a better bonus is available.
Of course, a $250k balance could earn a $600 transfer bonus at a few other brokerages...I do like Schwab, though.
Interesting to see how Schwab and Morgan Stanley have positioned their platnium and free fee product differently:
Schawb Plat gets:
- 1.25 cpm/MR (i guess one could say a worse case scenario)
- Annual credit of $100 -$200 based on AUM
Schawb free: 1.5% cash back
MS Plat:
- 1.0 cpm/MR
- Annual spend bonus ($500 for $100k)
MS free:
- 2x MR category bonuses
- 1.0 cpm/MR
- Annual spend bonus ($100 for $25k)
It comes down to your preference (and really, the choice of broker should out weight the card benefits). Given that these firms spend a lot of time researching what product to provide, my initial take is Schawb's product is more value focused vs. experience focused (MS).