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)
Aug 6, 2021, 6:42 pm
#706
Join Date: Apr 2002
Posts: 2,948
Previously, I qualified for reimbursement due to having 7 figures with the firm and meeting some different criteria. They've changes that and while we like large accounts and have some perks starting at $1,000,000 and up, to my knowledge, one cannot qualify simply through having substantial assets with the firm. They have to do Platinum Cash Plus and follow the terms of the offer.
Aug 6, 2021, 6:51 pm
#707
Join Date: Sep 2007
Posts: 234
Ignore.
Last edited by Stockjock; Sep 23, 2021 at 10:44 pm
Aug 6, 2021, 8:06 pm
#708
Join Date: Dec 2018
Posts: 218
I have only recently decided my savings were enough that I could start looking at investments. The Access Investing is one experiment to test my risk tolerance and evaluate returns. Establishing a (small) relationship with Morgan Stanley is another. If they just yank this benefit or significantly change it in the future, I would be more likely to just cancel everything, but if it remains the same and my desire for investments increases, I might stick with them and expand my business. Unfortunately, I can figure out how to maximize benefits from even a credit card, and then the credit card companies change the rules to limit those benefits, which forces me to re-evaluate rather than just hold onto something that is a fit for me.
Aug 6, 2021, 8:27 pm
#709
Join Date: Aug 2021
Location: NYC
Posts: 9
Quick question for Stockjock : do Access Investing or Access Direct count toward the $250,000 threshold of payout for a financial advisor? Is there a more "enhanced" version of Access Investing (a.k.a computerized portfolio with low cost ETFs tracking market) available through an advisor? Our complaint with Access Investing is that the most aggressive portfolio is still 20% fixed income.
Aug 6, 2021, 8:50 pm
#710
Join Date: Sep 2007
Posts: 234
Ignore.
Last edited by Stockjock; Sep 23, 2021 at 10:44 pm
Aug 6, 2021, 9:06 pm
#711
Join Date: Sep 2007
Posts: 234
Ignore.
Last edited by Stockjock; Sep 23, 2021 at 10:43 pm
Aug 6, 2021, 9:47 pm
#712
Join Date: Dec 2015
Location: Rockies
Programs: UA Platinum, HHonors Diamond, Bonvoy occasionally Bonvoyed Mostly
Posts: 428
Can the CashPlus account be a joint account ? And if it is a joint account and each of the account holder also has their own MS Investing account, which account holder would get the relationship bonus ?
Aug 6, 2021, 9:53 pm
#713
Join Date: Sep 2007
Posts: 234
Ignore.
Last edited by Stockjock; Sep 23, 2021 at 10:43 pm
Aug 7, 2021, 8:22 am
#714
Join Date: Jul 2021
Posts: 88
when was the 1 year deferment on the engagement bonus instituted?
Aug 7, 2021, 9:41 am
#715
Join Date: Jul 2004
Location: NYC
Programs: DL PM, DL MM
Posts: 4,246
Sadly they will not let you open an Access Investing Account if you work for another broker dealer. Even if they have a relationship that allows you to open a regular MS account, the Access Accounts are not permitted.
Aug 7, 2021, 10:35 am
#716
Join Date: Dec 2019
Posts: 13
The CashPlus Disclosure statement seems to have been quietly updated sometime in the middle of July. MS has a history of not grandfathering anyone into previous account terms and adhering to whatever the current policy is. Hence StockJock's displeasure at not being able to retain the previous Premier Cash Management terms when they introduced the CashPlus changes. So I expect that if you have not received your first year's engagement bonus and you only have an Access Investing Account, you will not receive one. However, I don't think you guys are reading this change accurately. MS is not saying that you will not receive an engagement bonus for your first year, just that you will not receive one if you ONLY have a Access Investing account. Which I take to infer that you will receive one if you open up an Active Assets Account (AAA) and pay the $150 annual fee for the first year. Then in the second year, you can close it and subsequently open the Access Investing Account with the 5K and so forth. It severely changes the math on whether it is worth it in the end on an individual basis though, so each person will have to re-evaluate their individual circumstances.
Aug 8, 2021, 7:03 am
#717
Join Date: Jul 2021
Posts: 88
The CashPlus Disclosure statement seems to have been quietly updated sometime in the middle of July. MS has a history of not grandfathering anyone into previous account terms and adhering to whatever …So I expect that if you have not received your first year's engagement bonus and you only have an Access Investing Account, you will not receive one.
I opened my Access account and cash management on July 9/10…. No engagement bonus paid yet…. Am I screwed.
I checked the agreement I signed and it is the old disclosure without the part of the Access Investment Account not qualifying. Going to call Morgan Stanley and see what is the deal.
Last edited by fatlard; Aug 8, 2021 at 7:54 am
Aug 8, 2021, 7:43 am
#718
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,955
Aug 8, 2021, 8:18 am
#720
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,955