May 4, 2016, 7:42 am
Last edit by: goodeats21
After being announced in early 2015, the long rumored Schwab American Express were available for application on March 21, 2016. Both cards require you to have an eligible Schwab brokerage account in order to apply. From the Schwab website:
Update June 2018 on eligible Schwab account per the Schwab website:
Note that if you are not currently a Schwab Customer, you can still get these cards by opening the Schwab Brokerage Account. To do so, a hard pull is required and most report that pull is with Equifax. There is a $1000 minimum investment to open the brokerage account, but if you open a linked high-yield investor checking account with the brokerage account, the balance requirements are waived.
Schwab Investor Card
This is card is basically a straight 1.5% cashback back card where you cash back can be deposited straight into your Schwab Brokerage Account. You can then choose to either invest money or transfer the cash to another account.
Schwab Platinum Card
This has all the benefits of the standard American Express Platinum Card with two notable advantages:
Link to Charles Schwab card information. Scroll down to read FAQ or to apply:
http://www.schwab.com/public/schwab/...s/credit_cards
An eligible brokerage account means a Schwab One® Account or Schwab General Brokerage Account held in your name or in the name of a revocable living trust where you are the grantor and trustee. Eligibility is subject to change.
An eligible account means (1) a Schwab One® or Schwab General Brokerage Account held in your name or in the name of a revocable living trust where you are the grantor and trustee or (2) a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor pursuant to a direct contractual relationship between you and such independent advisor. Eligibility is subject to change.
Schwab Investor Card
This is card is basically a straight 1.5% cashback back card where you cash back can be deposited straight into your Schwab Brokerage Account. You can then choose to either invest money or transfer the cash to another account.
Schwab Platinum Card
This has all the benefits of the standard American Express Platinum Card with two notable advantages:
- You have the ability to cash out membership rewards at a rate of 1.10 cpp [changed from initial 1.25 at inception] into the brokerage account. This is called "Invest with Rewards". There is a separate thread debating the advantages and disadvantages of doing this. You can invest the cash or transfer out of Schwab.
- There is an appreciation bonus in the form of a statement credit if you have significant assets with Schwab (essentially a discount on the annual fee). If you have $250k-$1M, you get a $100 statement credit. If you have $1M+ you get a $200 statement credit. More details are here: http://www.schwab.com/public/schwab/...r_faq_platinum
Link to Charles Schwab card information. Scroll down to read FAQ or to apply:
http://www.schwab.com/public/schwab/...s/credit_cards
American Express to Partner with Schwab. Applications online 3.21.2016.
Jan 11, 2021, 6:04 pm
#406
FlyerTalk Evangelist
Join Date: Dec 2002
Location: Danville, CA, USA;
Programs: UA 1MM, WN CP, Marriott LT Plat, Hilton Gold, IC Plat
Posts: 15,723
If I have $250k to move around I would not be worried about a $100 AF savings.
For me the bigger signup bonus would be the deciding factor. 25k Amex points = $500 in my book. If you hit the jackpot with the 125k offer it is worth even more. And those with corporate (employer) amex cards can still get the AF discount.
For me the bigger signup bonus would be the deciding factor. 25k Amex points = $500 in my book. If you hit the jackpot with the 125k offer it is worth even more. And those with corporate (employer) amex cards can still get the AF discount.
Jan 24, 2021, 8:43 pm
#407
Join Date: Sep 2006
Posts: 524
With the regular personal Amex Plat you get access to a temporary card number before the physical card arrives. Does anyone know is that is also the case for the Schwab Platinum Amex? Or do you need to wait for it to arrive? How long does it take to arrive - 3 days like the regular Amex Plat or more like 10 days like Chase cards?
Thanks
Thanks
Jan 24, 2021, 8:47 pm
#408
Join Date: Jan 2020
Posts: 18
With the regular personal Amex Plat you get access to a temporary card number before the physical card arrives. Does anyone know is that is also the case for the Schwab Platinum Amex? Or do you need to wait for it to arrive? How long does it take to arrive - 3 days like the regular Amex Plat or more like 10 days like Chase cards?
Thanks
Thanks
Jan 24, 2021, 9:03 pm
#410
Join Date: Jan 2019
Location: SAN, BOS
Programs: AS MVPG100K, BAEC Gold, Hilton Diamond, Bonvoy Plat,
Posts: 2,282
Just wondering did they give you one of those wooden phone holders
Jan 25, 2021, 8:26 am
#411
Join Date: Jan 2020
Posts: 18
No problem
They did not, I got one with my regular Platinum 2 years ago so I don't know if that's why I didn't get it or if they stopped sending them out.
They did not, I got one with my regular Platinum 2 years ago so I don't know if that's why I didn't get it or if they stopped sending them out.
Mar 20, 2021, 6:38 pm
#412
Original Poster
Join Date: May 2010
Location: Rockin' the Bakken
Programs: Several
Posts: 978
Does anyone have any experience with having the personal CS Platinum card and a business Amex card that earns MR? Can you deposit MR earned from a business card into a Schwab account? I guess I’m not sure if a business card pools MR into the same account as a personal card. I would think if it had the cardholders name on it (like using a SS number instead of EIN) when applying, that would allow for such transfers.
Thanks!
Thanks!
Mar 20, 2021, 7:05 pm
#414
Original Poster
Join Date: May 2010
Location: Rockin' the Bakken
Programs: Several
Posts: 978
Apr 19, 2021, 2:47 pm
#415
Join Date: Feb 1999
Location: Denver CO
Posts: 3,682
Depends a lot on usage, obviously. Devaluations contunue to eat into the "easily" part of the equation. Also, pricing those trips in upgraded classes (business, first) need to account for circuitous routings, forced overnights, limited inventory and the time to learn about, stay current and manage all that.
May 4, 2021, 4:07 pm
#417
Join Date: Apr 2002
Posts: 587
Jun 4, 2021, 7:54 am
#418
FlyerTalk Evangelist
Join Date: Jul 2008
Location: IAH
Programs: DL DM, Hyatt Ist-iest, Stariott Platinum, Hilton Diamond
Posts: 12,795
Lots of rumbling/panic since last night that it seems Schwab has removed the verbiage from the landing page of the website of "turn 60k MR into $750" or whatever it said. It's apparently still included in the application, but makes one wonder if it's going away for new applicants, much like the airline fee credit disappeared from the landing page and benefits of the Gold card. I imagine any existing customers would have a grace period if the 1.25 cpp cash out option was sunsetted.
https://www.doctorofcredit.com/ameri...guage-removed/
https://www.doctorofcredit.com/ameri...guage-removed/
Jun 4, 2021, 12:58 pm
#419
Join Date: Jul 2020
Location: JFK/LGA/BDL
Posts: 419
This would be pretty disappointing, as I recently cancelled a longstanding vanilla Platinum (which I have tended to receive some of the non-standard "gifts" on) in favor of the CS Platinum.
I tend to think the rumor mill gets WAY ahead of itself (the corresponding Reddit thread that Doctor of Credit got this lead from has a series of edits that would lead you to believe this is a defcon 5 situation) but it isn't exactly encouraging to see the language removed.
I tend to think the rumor mill gets WAY ahead of itself (the corresponding Reddit thread that Doctor of Credit got this lead from has a series of edits that would lead you to believe this is a defcon 5 situation) but it isn't exactly encouraging to see the language removed.
Jun 4, 2021, 10:50 pm
#420
Join Date: Nov 2004
Location: Los Angeles, CA; Philadelphia, PA
Programs: OZ Diamond
Posts: 6,140
Lots of rumbling/panic since last night that it seems Schwab has removed the verbiage from the landing page of the website of "turn 60k MR into $750" or whatever it said. It's apparently still included in the application, but makes one wonder if it's going away for new applicants, much like the airline fee credit disappeared from the landing page and benefits of the Gold card. I imagine any existing customers would have a grace period if the 1.25 cpp cash out option was sunsetted.
https://www.doctorofcredit.com/ameri...guage-removed/
https://www.doctorofcredit.com/ameri...guage-removed/
LAX
Last edited by LAX; Jun 5, 2021 at 11:11 pm