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 13, 2021, 2:03 pm
#736
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
Aug 14, 2021, 12:41 am
#737
Join Date: Jul 2005
Programs: Hilton Diamond, Starwood Platinum, AA, SW, Delta
Posts: 885
Are we able to keep the morgan stanley $5k access account in cash or does it need to be invested in something
Aug 14, 2021, 2:16 am
#738
Join Date: Dec 2019
Posts: 13
Once you fully fund the AI account with 5K of more, it will be automatically invested up to 3 business days later into whatever investment mix that you selected when you opened the account. You cannot keep it in cash. If you don't want to invest in the market but would still like to fulfill the non-CashPlus investment relationship criteria, then you can open a Active Assets Account (AAA), pay the $150 annual fee, and keep your funds liquid.
Aug 14, 2021, 12:45 pm
#739
Join Date: Jul 2021
Posts: 88
International Wire Transfer?
From what I gather it is a fee-free outgoing wire transfer using this account.
Has anyone have experience performing a outgoing wire transfer to India? Can you recount your experience?
Has anyone have experience performing a outgoing wire transfer to India? Can you recount your experience?
Aug 14, 2021, 3:23 pm
#740
Join Date: Dec 2019
Posts: 13
It's a pretty straightforward process but the painful part is actually getting connected with a FA with FOREX trade abilities. That seems to be the limiting step as last time I did an Intl wire, it took me almost an hour of being passed around the MS phone tree until I finally got connected to one. After you do the currency trade, it is fairly straightforward. Sometimes I even get connected to an experienced FA that can do both the FOREX trade AND the wire in the same call. Then I would receive the E-Authorization two days later automatically. Either way, it's a good deal for me as otherwise I have to spend a few hours at the local post office trying to do the same thing with idiots across the counter who think that I might be some kind of money launderer.
Aug 14, 2021, 3:32 pm
#742
Join Date: Sep 2007
Posts: 234
Ignore.
Last edited by Stockjock; Sep 23, 2021 at 10:41 pm
Aug 14, 2021, 4:17 pm
#743
Join Date: Dec 2019
Posts: 13
Yes and no. There is not a separate fee but there is a commission mark-up of 30 basis points (0.0030) on the FOREX rate. So for example, the Euro/USD rate is currently 1:1.18, so with the mark-up, your FOREX rate would go to 1:1.183 to exchange dollars to euro. It is actually a good deal for me because I can never get near the market rate as a retail customer using credit card cash advances at the bank/atms. Visa/Mastercard's FOREX rate is decent but not as good as this. Anywhere else just gets much worse for me.
Aug 14, 2021, 4:20 pm
#744
Join Date: Jul 2011
Posts: 15
Hey there,
Hoping someone might have an answer to this one, I don't believe i've seen it addressed directly yet.
In terms of the eligible/qualified investment account that's required to open the cashplus platinum, does anyone happen to know if a Morgan Stanley stock connect plan would do the trick? https://stockplanconnect.morganstanl...me/Home.html#/
SO worked for a company that utilized MS for her RSUs and while she no longer has the actual securities in the account any more, it is still open / accessible..
Wondering if we might be able to link these two and avoid having to set up the "access" account.
Thanks for any insight in advance!
Hoping someone might have an answer to this one, I don't believe i've seen it addressed directly yet.
In terms of the eligible/qualified investment account that's required to open the cashplus platinum, does anyone happen to know if a Morgan Stanley stock connect plan would do the trick? https://stockplanconnect.morganstanl...me/Home.html#/
SO worked for a company that utilized MS for her RSUs and while she no longer has the actual securities in the account any more, it is still open / accessible..
Wondering if we might be able to link these two and avoid having to set up the "access" account.
Thanks for any insight in advance!
Aug 14, 2021, 6:41 pm
#745
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
This is discussed beginning at post 333: https://www.flyertalk.com/forum/amer...l#post33096047
Aug 14, 2021, 6:47 pm
#746
Join Date: Sep 2007
Posts: 234
Ignore.
Last edited by Stockjock; Sep 23, 2021 at 10:41 pm
Aug 14, 2021, 8:09 pm
#747
Join Date: Jul 2011
Posts: 15
This is discussed beginning at post 333: https://www.flyertalk.com/forum/amer...l#post33096047
Thank you,
Aug 14, 2021, 9:37 pm
#748
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
See if this post is helpful: https://www.flyertalk.com/forum/33426794-post638.html
Aug 15, 2021, 12:43 am
#749
Join Date: Jul 2005
Programs: Hilton Diamond, Starwood Platinum, AA, SW, Delta
Posts: 885
I want to get this flavor of the amex platinium card because of the signup bonus. So I just need to open the MS Access account with $5000 then I pay the $695 annual fee for the Morgan Stanley card and nothing else I need to do?
Aug 15, 2021, 1:01 am
#750
Join Date: Feb 2006
Posts: 1,065
Correct. Since all you care about is getting the MS Platinum, open the MS Access account to establish the relationship, wait a few days, and then apply for the MS Platinum. Waiting for a few days gives Amex a chance to realize that you already have a relationship with MS. If you apply for the Platinum too soon after opening MS Access, your Platinum application may get rejected, since Amex won't see the existing relationship. This happened to me and took 1-2 phone calls to get the application reopened and ultimately approved.