Aug 1, 2021, 12:53 pm
Last edit by: Dr Jabadski
Note: If you don't have a qualifying investment account, or if your only investment account is an Access Investing account, there is no longer an Engagement Bonus in the first year of having the CashPlus Platinum account.
Recommended step-by-step guide if goal is MS AmEx Platinum card with bonus and effectively no annual fee as of 8/1/21:
- Open MS Access Investing account (to establish the MS relationship) using online application with $5,000.
- Wait a few days.
- Open Platinum CashPlus account (requires existing MS relationship), must be opened by phone or through an advisor, cannot be done online.
- Fund Platinum CashPlus account with $25K.
- Wait a few days.
- Confirm CashPlus account's Account Fee Status page shows “Morgan Stanley Investment Relationship = Yes”.
- Apply for MS AmEx Platinum Card via the link that shows up in the CashPlus account once it's open.
- $5,000 monthly deposit or Social Security deposit in any amount and $25,000 Average Daily Cash Balance in the Bank Deposit Program to avoid Platinum CashPlus Monthly Account Fee.
- Meet minimum spending requirement on the AmEx Platinum card, as of 8/1/21: $6,000 within 6 months to receive sign-up bonus.
- Confirm $695 Annual Engagement Bonus posts to Platinum CashPlus account approximately 6 weeks after credit card approval. (As of 8/1/21, considerable discussion as to whether the FIRST Annual Engagement Bonus is paid within first few months of credit card account opening or at about 1 year after credit card account opening.)
- $1,000+ yearly spending requirement on the AmEx Platinum card needed to avoid having to pay taxes on the Engagement Bonus. (This language was removed from the disclosure statement after the Engagement Bonus was increased to $695.)
- Enjoy the sign-up bonus and all other AmEx Plat perks, don’t eat or drink too much
.
Notes:
All accounts can be opened the same day, best to wait a few days between account openings/applications to ensure each successive account is fully integrated into MS systems to avoid problems.
Few or no reports of MS AmEx Platinum credit card applications being declined for people with Access Investing and Platinum CashPlus accounts, seems once that MS relationship has been established, credit card approval is almost automatic.
The credit card will count toward Chase’s 5/24.
Premier CashPlus not eligible for $695 Annual Engagement Bonus for the MS AmEx Platinum Card.
MS launched Access Investing in December 2017, launched CashPlus in January 2020.
… I’m uncertain as to the requirements and procedures for a thread to have a Wiki(post). As with the New Platinum Card: To-Do List thread, might this thread qualify for a Wiki? Okay mia, you’re on. (Disclaimer: I have never applied for any of these MS accounts ... but I did stay at a Holiday Inn Express once 
.)
.) - Open MS Access Investing account (to establish the MS relationship) using online application with $5,000.
- Wait a few days.
- Open Platinum CashPlus account (requires existing MS relationship), must be opened by phone or through an advisor, cannot be done online.
- Fund Platinum CashPlus account with $25K.
- Wait a few days.
- Confirm CashPlus account's Account Fee Status page shows “Morgan Stanley Investment Relationship = Yes”.
- Apply for MS AmEx Platinum Card via the link that shows up in the CashPlus account once it's open.
- $5,000 monthly deposit or Social Security deposit in any amount and $25,000 Average Daily Cash Balance in the Bank Deposit Program to avoid Platinum CashPlus Monthly Account Fee.
- Meet minimum spending requirement on the AmEx Platinum card, as of 8/1/21: $6,000 within 6 months to receive sign-up bonus.
- Confirm $695 Annual Engagement Bonus posts to Platinum CashPlus account approximately 6 weeks after credit card approval. (As of 8/1/21, considerable discussion as to whether the FIRST Annual Engagement Bonus is paid within first few months of credit card account opening or at about 1 year after credit card account opening.)
- Enjoy the sign-up bonus and all other AmEx Plat perks, don’t eat or drink too much
. Notes:
All accounts can be opened the same day, best to wait a few days between account openings/applications to ensure each successive account is fully integrated into MS systems to avoid problems.
Few or no reports of MS AmEx Platinum credit card applications being declined for people with Access Investing and Platinum CashPlus accounts, seems once that MS relationship has been established, credit card approval is almost automatic.
The credit card will count toward Chase’s 5/24.
Premier CashPlus not eligible for $695 Annual Engagement Bonus for the MS AmEx Platinum Card.
MS launched Access Investing in December 2017, launched CashPlus in January 2020.
Morgan Stanley American Express Platinum Card (2012 - 2021)
Jul 1, 2021, 1:07 pm
#481
FlyerTalk Evangelist
Join Date: Jul 2008
Location: IAH
Programs: DL DM, Hyatt Ist-iest, Stariott Platinum, Hilton Diamond
Posts: 12,791
I'd have been more surprised if they didn't increase the engagement bonus to match the higher AF. And that is a great SUB. I'm curious what I'll get as my engagement bonus, $550 or $695, because I met all of the requirements as of the end of June.
Jul 1, 2021, 3:08 pm
#482
Join Date: Feb 2010
Location: MSP
Posts: 497
The Platinum monthly fee bumps to $55/mo starting next year. So far the deposit requirements remain the same. One interesting note is there is no longer mention of $1000 in spend on the card preventing MS from issuing a 1099 for the bonus. So the reimbursement dollars are going up, but it might not be tax free anymore?
Last edited by SpaethCo; Jul 1, 2021 at 3:16 pm
Jul 1, 2021, 6:48 pm
#483
Join Date: Sep 2007
Posts: 234
Ignore.
Last edited by Stockjock; Jul 21, 2021 at 4:34 pm
Jul 1, 2021, 8:17 pm
#484
Join Date: Feb 2006
Location: Proud resident of flyover country.....
Programs: MS AMEX PLAT- Marriott Titanium-HH G- UA Silver-JPM RC . DL-AA-BA
Posts: 3,892
Told you some changes were likely coming.
BTW, here's something I wrote elsewhere.I work for one of the big Wall Street firms. We offer a house-branded Amex Platinum card for free, but certain criteria must be met, otherwise we charge $45/month.
Here are the criteria:
1. A specific cash management account (cash only) with an average daily balance of $25,000.
2. $5,000/month or more in qualifying direct deposits. Can be less if social security.
3. A brokerage account.
I get this free as a customer, and I think it’s a great deal.
So look around, as there may be good and relatively painless ways to get past the $695 annual fee.
More benefits, higher price.
BTW, here's something I wrote elsewhere.I work for one of the big Wall Street firms. We offer a house-branded Amex Platinum card for free, but certain criteria must be met, otherwise we charge $45/month.
Here are the criteria:
1. A specific cash management account (cash only) with an average daily balance of $25,000.
2. $5,000/month or more in qualifying direct deposits. Can be less if social security.
3. A brokerage account.
I get this free as a customer, and I think it’s a great deal.
So look around, as there may be good and relatively painless ways to get past the $695 annual fee.
More benefits, higher price.
FedEx just delivered that card to my house yesterday, I have spent the last few days establishing the required accounts with your company.
The no charge AU is a nice bonus. The way I see it I am getting 3.6% interest on the amount on the amount of money I am required to keep on deposit when I factor in the authorized user. I am going to keep a small amount in low risk investments anyway so I am pleased with this arrangement. I'm sure that your company hopes this program will lure new clients, tell them it's working 
Honestly ML will probably always be my primary investment company, My family has a long relationship there but believe it is wise be diversified. I had the Business Platinum for several years and more recently the Personal Platinum. Since it is a different product I believe I will qualify for the MR bonus as well. So far I am happy with the service from the people at the local MS office.
Jul 1, 2021, 9:24 pm
#485
Join Date: Sep 2007
Posts: 234
Ignore.
Last edited by Stockjock; Jul 21, 2021 at 4:34 pm
Jul 2, 2021, 12:37 am
#486
Join Date: May 2016
Posts: 22
Told you some changes were likely coming.
BTW, here's something I wrote elsewhere.I work for one of the big Wall Street firms. We offer a house-branded Amex Platinum card for free, but certain criteria must be met, otherwise we charge $45/month.
Here are the criteria:
1. A specific cash management account (cash only) with an average daily balance of $25,000.
2. $5,000/month or more in qualifying direct deposits. Can be less if social security.
3. A brokerage account.
I get this free as a customer, and I think it’s a great deal.
So look around, as there may be good and relatively painless ways to get past the $695 annual fee.
More benefits, higher price.
BTW, here's something I wrote elsewhere.I work for one of the big Wall Street firms. We offer a house-branded Amex Platinum card for free, but certain criteria must be met, otherwise we charge $45/month.
Here are the criteria:
1. A specific cash management account (cash only) with an average daily balance of $25,000.
2. $5,000/month or more in qualifying direct deposits. Can be less if social security.
3. A brokerage account.
I get this free as a customer, and I think it’s a great deal.
So look around, as there may be good and relatively painless ways to get past the $695 annual fee.
More benefits, higher price.
Can you please tell me which company it is (by private message, if needed)? I just renewed my personal platinum before the announcement, but would like to keep my options open for when I renew next year. Thank you.
Jul 2, 2021, 7:44 am
#487
Join Date: Nov 2019
Location: DCA
Programs: UA 1K, Marriott Titanium
Posts: 15
Is this a secret or a platinum card available by invite only? I tried searching for which bank offers this, but could not find it.
Can you please tell me which company it is (by private message, if needed)? I just renewed my personal platinum before the announcement, but would like to keep my options open for when I renew next year. Thank you.
Can you please tell me which company it is (by private message, if needed)? I just renewed my personal platinum before the announcement, but would like to keep my options open for when I renew next year. Thank you.
Jul 2, 2021, 8:58 am
#488
Join Date: Sep 2012
Posts: 48
Unfortunately, we are unable to open your CashPlus account online at this time.
Last edited by kr0n0s; Jul 2, 2021 at 9:04 am
Jul 3, 2021, 1:35 am
#491
Join Date: Feb 2006
Posts: 1,065
Regardless, once you get everything setup, this takes relatively little time to maintain, and even the $5000.00 monthly deposit can be automated. I'll be sticking with this for another year, provided interest rates don't go through the roof. Getting a 1099 would be disappointing, but I'll wait to see what happens when I am ready to file my 2022 return.
Also have to say that I'm impressed MS was so quick to increase their engagement bonus. They are clearly using this as a means to retain and acquire new customers and I hope they are rewarded for their efforts.
Jul 3, 2021, 7:25 am
#492
Join Date: Sep 2012
Posts: 48
Is there a way to view the full Access Investing account number online? I only see the last 4 digits listed.
Jul 3, 2021, 9:48 am
#493
Join Date: Feb 2010
Location: MSP
Posts: 497
Hoping StockJock may be able to speak to this. I would not be surprised if this was just an oversight when they updated their terms and conditions. However, I would also expect that the $1000 in spend may need to be increased in order for the $695.00 engagement bonus to be considered a rebate on spend and not taxable interest.
Edit to add the language change. Here's the language prior to July 2021:
You may be subject to tax and information reporting with respect to any Annual Engagement Bonus. If you do not meet a minimum spending requirement of $1,000 on your American Express Platinum Card within the calendar year of receiving the $550 Annual Engagement Bonus, then Morgan Stanley may be required to report the $550 Annual Engagement Bonus as taxable income on your Form 1099. You should consult your tax advisor regarding the tax implications of any awards, including the $550 Annual Engagement Bonus, based upon your specific circumstances.
You may be subject to tax and information reporting with respect to any Annual Engagement Bonus. Morgan Stanley may be required to report the Annual Engagement Bonus as taxable income on your Form 1099. You should consult your tax advisor regarding the tax implications of any award, including the Annual Engagement Bonus, based upon your specific circumstances.
Last edited by SpaethCo; Jul 3, 2021 at 11:05 pm
Jul 3, 2021, 9:11 pm
#495
Join Date: Sep 2007
Posts: 234
Ignore.
Last edited by Stockjock; Jul 21, 2021 at 4:35 pm