Originally Posted by
TTT103
I'm a little confused.
I have a retirement account with Morgan Stanley, and meet the $1M requirement; however, what other requirement must me met in order to receive the annual fee reimbursement for the AmEx Platinum card?
I read through the posts, and saw mention of also being required to have a Reserved account. I looked at that link, and read that this consists of having a cash account with two transactions per month. Is this accurate? I'm really not interested in having $50K in cash sit idle--nor having to jump through additional hoops.
Any insight would be appreciated, as I really don't want to bother my broker over this.
It's kind of confusing, but you need to have an Active Asset Account (AAA) and first qualify for Premier Cash Management before that $1M kicks into effect for you to be a Reserve. Keep $50k in the AAA and do 1 bill pay or 1 debit card transaction or 1 credit card transaction, etc (meet two of these) and repeat for 3 months, then you will be qualified on the first day of the fourth month.