Schwab Amex

[Anonymous]

1 MR / $1, same as regular Platinum.

MRs can become airline miles, of course, but can also convert to Schwab cash deposits at 1.25 cpp.

The earn rate isn't great, nor is the bonus. The appeal of the card (for those with the assets) is Platinum perks for a reduced AF.

[lokobo]

Well then, I sure hope this offer is still around when i make my first million lol

[Anonymous]

---

@lokobo wrote:

Well then, I sure hope this offer is still around when i make my first million lol

---

$100 or $200/yr isn't much in the world of brokerage promotions. Several give $600 if you transfer $250k. Sure, they intend it to be a one-time thing, but it's usually possible to get them once a year. Fidelity gave me 50k Delta miles for moving $100k a few months ago. Working in rotation, it can be lucrative.

And I'm talking about moving around index ETFs. I don't trade them, so I don't care if a transfer is delayed or a brokerage offers a low interest rate on cash.

[Open123]

For cashrewards, anything less than 2% is pointless to app for, unless accompanied with either a (1) sign-up bonus, or (2) BofA like bonus for having assets.  For MR rewards, anything less than 1.3% (Bus Blue with no fee) is pointless, unless accompanied with either a (1) sign-up bonus, or (2) BofA like bonus for having assets.

[Anonymous]

---

@Open123 wrote:

For cashrewards, anything less than 2% is pointless to app for, unless accompanied with either a (1) sign-up bonus, or (2) BofA like bonus for having assets.  For MR rewards, anything less than 1.3% (Bus Blue with no fee) is pointless, unless accompanied with either a (1) sign-up bonus, or (2) BofA like bonus for having assets.

---

Platinum (at least for people who have a lot of cards) is not about earning MRs. It's about travel perks. There are plenty of other cards for earning points which can be used in conjunction with Platinum.

And I don't know about you, but Amex Offers have saved me a few hundred dollars. It might not be very hard to use Offers to offset the 0.5% difference in the nominal earn rates (though it is a YMMV area).

[Open123]

---

@Anonymous wrote:

---

@Open123 wrote:

For cashrewards, anything less than 2% is pointless to app for, unless accompanied with either a (1) sign-up bonus, or (2) BofA like bonus for having assets.  For MR rewards, anything less than 1.3% (Bus Blue with no fee) is pointless, unless accompanied with either a (1) sign-up bonus, or (2) BofA like bonus for having assets.

---

Platinum (at least for people who have a lot of cards) is not about earning MRs. It's about travel perks. There are plenty of other cards for earning points which can be used in conjunction with Platinum.

And I don't know about you, but Amex Offers have saved me a few hundred dollars. It might not be very hard to use Offers to offset the 0.5% difference in the nominal earn rates (though it is a YMMV area).

---

Oh, I see.  The Schwab Amex Platinum.  Yeah, assuming it has the equivalent bonus (they usually do, at least 40 or 50K MR), then it's a pretty good deal for anyone housing assets at Schwab.

[jeffery581]

RE:

The Platinum will have a $100 annual statement credit if you have $250k+ at Schwab, or a $200 annual credit if you have $1M+.

Combined with the $200 airfare extras credit, the net AF can be as low as $50.

Not very competitive or enticing at all. IMO

[Open123]

---

@jeffery581 wrote:

RE:

The Platinum will have a $100 annual statement credit if you have $250k+ at Schwab, or a $200 annual credit if you have $1M+.

Combined with the $200 airfare extras credit, the net AF can be as low as $50.

Not very competitive or enticing at all. IMO

---

It would be, given the following:

1.  Person is going to pay $450 for the Amex Plat regardless.

2.  Person will house Assets at Schwab regardless.

3.  Person will have the stated Asset values regardless.

I'd assume, the market for the above would be both extremely narrow and limited.  On Point #1, for any new App, the Schwab one had better offer a similar bonus to the best current MR bonus offers.  For any existing cardmember (since there's only one bonus per lifetime), even with the requisite assets, it only makes sense if the Cardmember is ineligible for retention bonuses.

For Point #2, only if the person (1) values Schwab's management services, (2) accepts the higher trading costs, and (3) prefers it over a more professional platform such as InteractiveBroker.  I'd imagine, this would be an extremely "limited" market, given the requirement for requisite assets.

Finally, while a "good" deal for the person who fits the above, for the general CC user, these offers (if accurate) appears extremely underwhelming.

[jeffery581]

I am not an average cc folk. Just do not think it is a good deal Even if all the "requirements" are met. Just my 3 Cents.

[Open123]

---

@jeffery581 wrote:

I am not an average cc folk. Just do not think it is a good deal Even if all the "requirements" are met. Just my 3 Cents.

---

Neither do I, but for a Schwab fanboi (far better and more cost effective online brokerage platforms out there) who will pay for the Plat regardless, unable to qualify for any MR bonus retensions, and insists on placing $1 Million at Schwab, it may be worth $200.

Let's just say, Apps aren't going to "fly off the shelves" like Citi's Costco or Barclays JetBlue.