Schwab Invest Visa? 2% cash back on everything? [Discontinued card]
Jul 25, 2009, 7:52 pm
#211
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,762
Another quirky thing I notice, the points earned on the Card, do not get transferred to brokerage account until end of the month, does not matter when is your statement date. I find this odd as most other cards the earnings are transferred to the corresponding account after statement close date. i.e. AA miles will show up in your AA account 2 days after Citi statement date, ditto for United card from Chase. But I notice my Schward card pts dont get transferred after statement date until the beginning of the following month.
Jul 27, 2009, 5:19 pm
#214
Join Date: Jan 2003
Location: NYC
Posts: 8,498
Quirks: If you set your CC account up for autopay, but also prepay some or all of your bill manually, your autopay still kicks in for the full amount of your bill on your autopay date, regardless of your payment or CC refunds. This makes it VERY HARD to push more than your than your credit limit through in a month and still use autopay.
You can pay your bill online through their website from any US checking account. As noted above, their website is a bit clunky (it's a clumsy integration of a full-blown third-party billpay system, which I find confusing), but it works.
Jul 27, 2009, 7:37 pm
#215
Join Date: May 2001
Location: Fort Worth, TX US
Programs: AAdvantage
Posts: 179
As far as I can tell the autopay feature is useless for me, because you have to set a fixed dollar amount to pay each month and I want to pay my statement balance in full (like I do with Autopay at Citi, Chase and AmEx). Is there another way to set up Autopay at Schwab that I'm missing?
Last edited by ziobacio; Jul 28, 2009 at 9:20 am
Jul 27, 2009, 8:48 pm
#216
Join Date: Aug 2006
Location: ATL, BHM, DUB, County Wexford
Programs: DL DM, AA ExPlt, Diamond HH, HY, BW, & Titanium Elite Marriott
Posts: 4,864
Aug 31, 2009, 8:05 am
#217
Original Member
Join Date: May 1998
Location: Tampa, FL
Programs: AAMM & PLT; UA Gold, DL Silver, Marriott LT Titanium Elite, Hilton Diamond, Hertz #1 Gold Club
Posts: 1,591
After previously applying for this card and subsequently cancelling the app due to the interrogation by one of heir credit analysts; I decided to re-apply and was approved prior to my vacation about a month ago. I got card day before we departed, sweet, CL $7,500.00 no problem more than enough to cover all expenses, avoid for ex fees and 2% back...nice. Today I check my online accounts, and was confused about Fidelity Amex 2% card CL.... In the end it turns out that FIA cut my $30,000.00 limit down to $1,200.00...ouch - I assume directly related to my VISA app...I had a nice chat with a CSR person - real jerk, I would say, who commented that my monthly average charge was significantly less than $1,200 CL now bestowed upon me. I promptly closed the FIA Amex account.For now, TYN Amex and PPE will be my day to day cards till December, then I will switch to the Schwab VISA for all day to day purchases and the PPE card for the special categories.
Aug 31, 2009, 11:51 am
#218
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,762
Yup, MBNA or FIA or now all under BofA umbrella, is notorious for that they strictly monitor the total exposure of all their cards you have and would take CL away without any prior notification to you.
Aug 31, 2009, 10:26 pm
#220
Join Date: Jan 2003
Location: NYC
Posts: 8,498
Paperwork is only required for the true autopay feature (where they automatically deduct the statement balance from your bank account each month). This is consistent with other credit card companies, including CapOne and Citi (although Citi may have moved this capability online) in my experience.
Sep 1, 2009, 9:23 am
#222
Join Date: Jan 2003
Location: NYC
Posts: 8,498
CapOne still does it by paper (not surprising given their shambles of a computer system). When I first set up autopay with Citi many years ago I had to do it on paper, but it's been a long time since I've messed with my Citi autopay settings. Chase also lets you do it online.
Sep 3, 2009, 9:29 am
#223
Original Member
Join Date: May 1998
Location: Tampa, FL
Programs: AAMM & PLT; UA Gold, DL Silver, Marriott LT Titanium Elite, Hilton Diamond, Hertz #1 Gold Club
Posts: 1,591
After previously applying for this card and subsequently cancelling the app due to the interrogation by one of heir credit analysts; I decided to re-apply and was approved prior to my vacation about a month ago. I got card day before we departed, sweet, CL $7,500.00 no problem more than enough to cover all expenses, avoid for ex fees and 2% back...nice. Today I check my online accounts, and was confused about Fidelity Amex 2% card CL.... In the end it turns out that FIA cut my $30,000.00 limit down to $1,200.00...ouch - I assume directly related to my VISA app...I had a nice chat with a CSR person - real jerk, I would say, who commented that my monthly average charge was significantly less than $1,200 CL now bestowed upon me. I promptly closed the FIA Amex account.For now, TYN Amex and PPE will be my day to day cards till December, then I will switch to the Schwab VISA for all day to day purchases and the PPE card for the special categories.
Sep 6, 2009, 8:49 pm
#224
Suspended
Join Date: Oct 2004
Location: Bay Area
Programs: DL SM, UA MP.
Posts: 12,729
So what are people doing with the money they've accumulated?
My main brokerage accounts are at eTrade, where I get $9.99 trades.
Interest rates are low but the Schwab high interest checking is only .75%. I have bank accounts which do better but not sure about doing transfers of a couple of hundred dollars.
Can you get an ATM card to use it as petty cash without opening a checking account? I don't need another checking account.
My main brokerage accounts are at eTrade, where I get $9.99 trades.
Interest rates are low but the Schwab high interest checking is only .75%. I have bank accounts which do better but not sure about doing transfers of a couple of hundred dollars.
Can you get an ATM card to use it as petty cash without opening a checking account? I don't need another checking account.
Sep 6, 2009, 10:56 pm
#225
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,762
So what are people doing with the money they've accumulated?
My main brokerage accounts are at eTrade, where I get $9.99 trades.
Interest rates are low but the Schwab high interest checking is only .75%. I have bank accounts which do better but not sure about doing transfers of a couple of hundred dollars.
Can you get an ATM card to use it as petty cash without opening a checking account? I don't need another checking account.
My main brokerage accounts are at eTrade, where I get $9.99 trades.
Interest rates are low but the Schwab high interest checking is only .75%. I have bank accounts which do better but not sure about doing transfers of a couple of hundred dollars.
Can you get an ATM card to use it as petty cash without opening a checking account? I don't need another checking account.
Here is the Schwab MMFs' rates table, the highest is only 0.21%, lower than Fidelity's.
http://www.schwab.com/public/schwab/...money_markets&
Fidelity's MMFs in general, offer higher yield than Schwab's
http://personal.fidelity.com/product...tml.cvsr?bar=p
Fido's commission is also 9.95 if you meet some requirements which are really easy to meet.
Last edited by Happy; Sep 6, 2009 at 11:09 pm