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Schwab Investor Card by AMEX - new sign up offer

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Anonymous
Not applicable

Re: Schwab Investor Card by AMEX - new sign up offer


@wasCB14 wrote:

There seems to be a bit of guessing, uncertainty, and speculation in this thread.

 

I have a Schwab brokerage account, a Schwab checking account, and a Schwab Platinum charge card. I'd be happy to answer any questions people still have.

 

If I don't know the answer to a question, it's probably something I didn't read about or think to ask Schwab or Amex (but probably should find out, too).


I have a question on the HPs if you know the answer, some clarification would help.

 

I got schwab brokerage this year when the changed their commissions and it was a HP on Equifax for a fact

 

I've tested them out, and am considering opening an IRA with them and even a checking account.

 

If you know the answer (and I can confirm the HP on Equifax for new customers of Schwab One Brokerage), would I get another HP for the IRA and the checking account?  Is it only a SP? Is the any pulling hard or soft. You're correct, there is guessing and speculation on this thread. Thanks Smiley Happy

Message 21 of 25
wasCB14
Super Contributor

Re: Schwab Investor Card by AMEX - new sign up offer


@Anonymous wrote:

@wasCB14 wrote:

There seems to be a bit of guessing, uncertainty, and speculation in this thread.

 

I have a Schwab brokerage account, a Schwab checking account, and a Schwab Platinum charge card. I'd be happy to answer any questions people still have.

 

If I don't know the answer to a question, it's probably something I didn't read about or think to ask Schwab or Amex (but probably should find out, too).


I have a question on the HPs if you know the answer, some clarification would help.

 

I got schwab brokerage this year when the changed their commissions and it was a HP on Equifax for a fact

 

I've tested them out, and am considering opening an IRA with them and even a checking account.

 

If you know the answer (and I can confirm the HP on Equifax for new customers of Schwab One Brokerage), would I get another HP for the IRA and the checking account?  Is it only a SP? Is the any pulling hard or soft. You're correct, there is guessing and speculation on this thread. Thanks Smiley Happy


What I got was no pull when I opened the brokerage account, and a SP on Equifax (according to my full credit report directly from Equifax) when I later opened the checking account. However, Credit Karma thought it was a HP.

 

Either my case was unusual, or Schwab's practices have changed. I don't know what current SP/HP practices are. The best advice I can give about this is to not do something (opening a new asset or credit account, asking for a CLI, whatever) if a HP would be a problem. Any time a pull practice changes, some people are going to be hit with unexpected HPs.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 22 of 25
Anonymous
Not applicable

Re: Schwab Investor Card by AMEX - new sign up offer

I can't speak to whether they changed their practice as I'm a new client this year. But with certainty with my real report directly from Equifax, it was a HP. It is in the account agreements that they can pull so I expected it to be a HP but reading this thread they don't seem to be consistent and/or changed. Thanks for your feedback.

Afa the OP, I wish this card was 2% CB like Fidelity's. I like Schwab but my current cards fit me well. I wouldn't mind applying for 2% Smiley Happy
Message 23 of 25
wasCB14
Super Contributor

Re: Schwab Investor Card by AMEX - new sign up offer


@Anonymous wrote:
I can't speak to whether they changed their practice as I'm a new client this year. But with certainty with my real report directly from Equifax, it was a HP. It is in the account agreements that they can pull so I expected it to be a HP but reading this thread they don't seem to be consistent and/or changed. Thanks for your feedback.

Afa the OP, I wish this card was 2% CB like Fidelity's. I like Schwab but my current cards fit me well. I wouldn't mind applying for 2% Smiley Happy

I understand, and I'm not surprised the 1.5% card isn't very popular on here.

 

The brokerage account requirement makes it a bit of a hassle for bonus chasers and purchase-protection-seekers vs. other Amex cards.

1.5% isn't very interesting for cash back maximizers.

Amex loyalists will generally go for something with premium perks, travel rewards, or premium service.

 

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 24 of 25
Anonymous
Not applicable

Re: Schwab Investor Card by AMEX - new sign up offer

Just to contribute, I did indeed have a HP for opening my Schwab account in 2012 or whenever I first joined. I also recently opened an intelligent portfolios account and they did another HP.
Message 25 of 25
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