Do you already have a Charles Schwab Brokerage account? Then I recommend applying for a American Express Platinum Card for Schwab and you can receive 60,000 Membership Rewards points after spending $5,000 in purchases on your American Express Platinum Card for Schwab in your first three months of Card Membership.
Not only that but you can receive a $100 Card statement credit if your qualifying Schwab holdings are equal to or greater than $250,000 or receive a $200 Card statement credit if your qualifying Schwab holdings are equal to or greater than $1,000,000. Card can also earn you 1x Membership Reward point per dollar spent.
On top of that, this card offers the premium American Express benefits such as ; Airport Lounge Access Program and Priority Pass Select, Fee Credit for Global Entry or TSA Pre, $200 Airline Fee Credit. Judging by the hefty $450 annual fee, this credit card is marketed for big spenders and with that, you’ll also receive premium Platinum status along with this card. But there’s good news, you can balance out the fee with the yearly $200 airline incidental credit, airport lounge access, and Global Entry or TSA PreCheck credit.
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American Express Platinum for Schwab Key Features:
- Annual fee of $550
- 60,000 American Express Membership Rewards points after $3,000 in purchases in the first three months
- 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel
- 5X Membership Rewards® points on eligible hotels booked on amextravel.com
- Ability to deposit American Express Membership Rewards points into your account at a rate of 1.25¢ per point
- Receive a $100 Card statement credit if your qualifying Schwab holdings are equal to or greater than $250,000 or receive a $200 Card statement credit if your qualifying Schwab holdings are equal to or greater than $1,000,000, when measured following Card account approval and annually thereafter.
- Standard American Express Platinum Benefits:
- Airport Lounge Access Program and Priority Pass™ Select
- Fee Credit for Global Entry or TSA Pre✓™
- $200 Airline Fee Credit per calendar year
- Become an Uber VIP and receive $15 in Uber credits for U.S. rides each month plus a bonus $20 in December
- Complimentary SPG Gold Status
- Complimentary Hilton Gold Status
- Complimentary membership for Avis, Hertz, and National membership
- Complimentary Boingo membership
- Priority Pass Select – up to 2 companions
- Up to $100 credit for Global Entry or TSA Pre application fee
- Complimentary Access to over 600 Lounges
- Centurion Lounges, free up to 2 companions
- Delta Sky Clubs, you’ll need a Delta boarding pass on the same day, $29 per companion
- Airspace Lounges, free up to 2 companions
- Fine Hotels and Resorts (FHR)
- No foreign transaction fee
Pros:
- Earn 60,000 American Express Membership Rewards points after you spend $5,000 on purchases in the 1st 3 months of opening
- $100 Statement credit on schwab holdings equal to or greater that $250,000. $200 statement for holdings greater or equal to $1 million.
- You can redeem American Express Membership Rewards points for deposits into your eligible Schwab brokerage accounts at a rate of 1.25 cents each
Cons:
- There is a pretty hefty annual fee of $550
Final Analysis:
Sign up for a Schwab Platinum Card from American Express and you will be able to earn a 60,000 American Express Membership Rewards points after you spend $5,000 on purchases in the 1st 3 months of opening.Not only that, but you’ll receive statement credit for your current holdings in your Schwab brokerage account (applies if you have $250,000 or more). Card does have a requirement that you have a Schwab brokerage account open to be eligible.
This is a platinum credit card from American Express that also offers some of the platinum perks with airlines. If you travel often, then this card will offer you the utmost convenience in travelling. Don’t forget, there’s a pretty hefty $550 annual fee, being a pretty pricey card, it does offer you platinum status. Keep in mind, there’s plenty of perks that will make up for all the fees. Don’t forget to check out our full list of Credit Card Bonuses for all of your credit card needs.
 With the American Express® High Yield Savings Account: • Earn 1.90% APY as of 9/15/22 on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly. • Links easily with your current bank accounts. No need to switch banks. • FDIC Insured. Your account is insured to at least $250,000 per depositor. • 24/7 Account Access |
