Schwab Amex

[becontent]

Hello all, 

I was wondering if anyone had any info about the Schwab Amex that's supposed to be released sometime in 2016?  Other forums like fatwallet, reddit, and maybe some others have been releasing bits and pieces of information.  Schwab did have a page up, but it was taken down...  

Anyways, just curious to see if anyone else had any info, as I'm looking to come out of the garden for this card.  

Thanks!

[bada_bing]

1.5% cashback - bummer

If this was a 2% card I was going to come out of the garden for it.

Have to see what actually rolls out, but this isn't competitive. Considering its

an AMEX with higher swipe fees to defray cashback and Schwab account

holders usually have fairly substantial account balances parked for years,

it doesn't seem like Schwab is really making an effort on this card.

Have to wait for the rollout. As leaked, its a no-go for me.

[Anonymous]

I had been hoping for some sort of "reward multiplier" for Schwab customers like BofA's Preferred Rewards.

[lokobo]

No go for me as well. Very disappointing. Especially with QS providing the same thing with no FTF and a lower minimum spend for the bonus.  Hopefully they took that page down to revamp their benefits because of the poor response to the rumors lol.

[Anonymous]

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@bada_bing wrote:

1.5% cashback - bummer

If this was a 2% card I was going to come out of the garden for it.

Have to see what actually rolls out, but this isn't competitive. Considering its

an AMEX with higher swipe fees to defray cashback and Schwab account

holders usually have fairly substantial account balances parked for years,

it doesn't seem like Schwab is really making an effort on this card.

Have to wait for the rollout. As leaked, its a no-go for me.

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Agreed, I bank and invest with schwab, and a 1.5% just will not inspire an application. I also have the Fidelity Amex 2% card, and was happy to see it would be converted to a Fidelity Visa 2% around mid 2016.

I would pick up the schwab card at 2%, I would also have to see what other perks are available. Amex has solid purchase protection and travel perks. But would have to review the agreement. Kinda a let down..

The scuttlebutt says, the card will become available end of first quarter or beginning of second quarter, we shall see.

[Anonymous]

The Schwab Investor Card and Platinum Card for Schwab will be available March 31st, 2016. I would expect you to hear more from Schwab and American Express within the next few weeks.

[kdm31091]

I don't see how 1.5% that (presumably) has to be redeemed into a Schwab account beats 1.5% or 2% that can be redeemed anywhere.

[UncleB]

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@kdm31091 wrote:

I don't see how 1.5% that (presumably) has to be redeemed into a Schwab account beats 1.5% or 2% that can be redeemed anywhere.

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+1

I'm not trying to be a 'Debbie Downer' (and this is no reflection on the OP - I appreciate hearing about new products) but I'm a bit disappointed as well.

I mean really... Capital One's Quicksilver has this beat, and in more ways than one. 

I would expect a Schwab/Amex match-up to have more to offer. 

[Anonymous]

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.

[NRB525]

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@Anonymous wrote:

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.

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It looks like the Fee card (platinum?) will earn MR points, but the earn rate has not been stated yet. That is a different earning, even at 1 MR, from 1.5% cash back.