topic Re: AMEX Schwab platinum in Credit Cards

AMEX Schwab platinum

Anonymous — Mon, 21 Aug 2017 01:25:39 GMT

does anyone know if I'll have to apply for this card directly from AMEX's website or is it through schwab? The reason I ask is because I found out I got banned from AMEX due to a family member using my stuff to sign up for their cards, racked up a huge debt, and never paid it and I didn't have the ability to pay it. So just wondering because this card seems pretty attractive. thanks for reading

Re: AMEX Schwab platinum

Anonymous — Mon, 21 Aug 2017 01:28:30 GMT

Whether you have to apply through amex or through Schwab you'll probably get denied since either way it is still an amex card.

Re: AMEX Schwab platinum

Anonymous — Mon, 21 Aug 2017 01:30:23 GMT

@Anonymous wrote:
Whether you have to apply through amex or through Schwab you'll probably get denied since either way it is still an amex card.

oh i see. so its not like this card is schwab's own card, but just advertising for AMEX?

Re: AMEX Schwab platinum

BronzeTrader — Mon, 21 Aug 2017 01:39:37 GMT

@Anonymous wrote:
does anyone know if I'll have to apply for this card directly from AMEX's website or is it through schwab? The reason I ask is because I found out I got banned from AMEX due to a family member using my stuff to sign up for their cards, racked up a huge debt, and never paid it and I didn't have the ability to pay it. So just wondering because this card seems pretty attractive. thanks for reading

How much $$ was that?

Re: AMEX Schwab platinum

Anonymous — Mon, 21 Aug 2017 01:43:07 GMT

@Anonymous wrote:
@Anonymous wrote:
Whether you have to apply through amex or through Schwab you'll probably get denied since either way it is still an amex card.
oh i see. so its not like this card is schwab's own card, but just advertising for AMEX?

Schwab and AMEX have an agreement in place which is not purely about marketing. American Express Bank, FSB is the issuer, so your AMEX problem is going to cause trouble. Sorry to hear about the long term ramifications you're dealing with.

Re: AMEX Schwab platinum

CreditCuriosity — Mon, 21 Aug 2017 02:25:27 GMT

You are out of luck with anything regarding Amex or Schwab as they are one in the same on the CC.. Hate to say it you are responsible for paying the $ back to Amex as well, depending on the amount there is a good chance they will send you to collections or get a judgement against you. Doesn't matter who charged the charges on your card with them as you are responsible if you made them an AU or gave them the card to do so. I suppose you could file a police report again whomever racked up the debt in your family if you wanted to go that route and get them in trouble or be blacklisted from Amex for foreseeable future along with your CR going to the gutter. Best of luck

Re: AMEX Schwab platinum

BronzeTrader — Mon, 21 Aug 2017 02:30:13 GMT

"The Lanisters Always Pay the Debt". You better do the same. Or be banished from AmEx.....

Re: AMEX Schwab platinum

AverageJoesCredit — Mon, 21 Aug 2017 02:33:16 GMT

Bronze that is pure gold

Re: AMEX Schwab platinum

wasCB14 — Mon, 21 Aug 2017 05:37:01 GMT

The application requires a Schwab login (unless there's some loophole in applying by phone) but it is otherwise a regular Amex app. The website even says "Schwab is not involved with any credit decision, or in the approval process, for any applicant for the Card". With premium cards from some other banks, someone on the asset management side might be able to persuade someone on the lending side to approve an app for a VIP customer, but because Amex and Schwab are two totally separate companies, there's no incentive for Amex to really care about investment fees Schwab earns.

@CreditCuriousity wrote:
You are out of luck with anything regarding Amex or Schwab as they are one in the same on the CC.. Hate to say it you are responsible for paying the $ back to Amex as well, depending on the amount there is a good chance they will send you to collections or get a judgement against you. Doesn't matter who charged the charges on your card with them as you are responsible if you made them an AU or gave them the card to do so. I suppose you could file a police report again whomever racked up the debt in your family if you wanted to go that route and get them in trouble or be blacklisted from Amex for foreseeable future along with your CR going to the gutter. Best of luck

It sounds to me like a relative apped fraudulently for a card using OP's identity. OP wouldn't be responsible in that case...

...though Amex probably wouldn't see it that way and would likely keep OP on the blacklist

square, how much debt was there? How long ago? Is your interest in the Schwab variant because you want the loyalty credit or improved cash redemption, or just because you thought you might be eligible for it if it was issued by Schwab and not Amex (as opposed to a regular Platinum card)?

If it's to get the loyalty credit, and your funds are not all in retirement accounts, would you be in a position to pay off the debt your relative created in your name? Whether to pay off another person's CC debt I'm sure is a highly divisive topic on here, and one I've frankly not thought about enough to give you advice. But it could be an option.

Re: AMEX Schwab platinum

Anonymous — Mon, 21 Aug 2017 05:44:46 GMT

@wasCB14 wrote:
The application requires a Schwab login (unless there's some loophole in applying by phone) but it is otherwise a regular Amex app. The website even says "Schwab is not involved with any credit decision, or in the approval process, for any applicant for the Card". With premium cards from some other banks, someone on the asset management side might be able to persuade someone on the lending side to approve an app for a VIP customer, but because Amex and Schwab are two totally separate companies, there's no incentive for Amex to really care about investment fees Schwab earns.
@CreditCuriousity wrote:
You are out of luck with anything regarding Amex or Schwab as they are one in the same on the CC.. Hate to say it you are responsible for paying the $ back to Amex as well, depending on the amount there is a good chance they will send you to collections or get a judgement against you. Doesn't matter who charged the charges on your card with them as you are responsible if you made them an AU or gave them the card to do so. I suppose you could file a police report again whomever racked up the debt in your family if you wanted to go that route and get them in trouble or be blacklisted from Amex for foreseeable future along with your CR going to the gutter. Best of luck
It sounds to me like a relative apped fraudulently for a card using OP's identity. OP wouldn't be responsible in that case...

...though Amex probably wouldn't see it that way and would likely keep OP on the blacklist

square, how much debt was there? How long ago? Is your interest in the Schwab variant because you want the loyalty credit or improved cash redemption, or just because you thought you might be eligible for it if it was issued by Schwab and not Amex (as opposed to a regular Platinum card)?

If it's to get the loyalty credit, and your funds are not all in retirement accounts, would you be in a position to pay off the debt your relative created in your name? Whether to pay off another person's CC debt I'm sure is a highly divisive topic on here, and one I've frankly not thought about enough to give you advice. But it could be an option.

Hard situation; if my brother stole my identity and racked up charges large enough for me to be unable to pay I would have to file a police report. I'd obviously be doing that for a stranger, but it wouldn't be possible for me to avoid it with family. If it were a trivial amount of money (for me) I'd probably make clear to him that I'm aware and will put a stop to things if they continue. I wouldn't file a police report over anything less than a single month's income. Different people surely have different thresholds.

Re: AMEX Schwab platinum

Anonymous — Mon, 21 Aug 2017 09:01:51 GMT

@wasCB14 wrote:
The application requires a Schwab login (unless there's some loophole in applying by phone) but it is otherwise a regular Amex app. The website even says "Schwab is not involved with any credit decision, or in the approval process, for any applicant for the Card". With premium cards from some other banks, someone on the asset management side might be able to persuade someone on the lending side to approve an app for a VIP customer, but because Amex and Schwab are two totally separate companies, there's no incentive for Amex to really care about investment fees Schwab earns.
@CreditCuriousity wrote:
You are out of luck with anything regarding Amex or Schwab as they are one in the same on the CC.. Hate to say it you are responsible for paying the $ back to Amex as well, depending on the amount there is a good chance they will send you to collections or get a judgement against you. Doesn't matter who charged the charges on your card with them as you are responsible if you made them an AU or gave them the card to do so. I suppose you could file a police report again whomever racked up the debt in your family if you wanted to go that route and get them in trouble or be blacklisted from Amex for foreseeable future along with your CR going to the gutter. Best of luck
It sounds to me like a relative apped fraudulently for a card using OP's identity. OP wouldn't be responsible in that case...

...though Amex probably wouldn't see it that way and would likely keep OP on the blacklist

square, how much debt was there? How long ago? Is your interest in the Schwab variant because you want the loyalty credit or improved cash redemption, or just because you thought you might be eligible for it if it was issued by Schwab and not Amex (as opposed to a regular Platinum card)?

If it's to get the loyalty credit, and your funds are not all in retirement accounts, would you be in a position to pay off the debt your relative created in your name? Whether to pay off another person's CC debt I'm sure is a highly divisive topic on here, and one I've frankly not thought about enough to give you advice. But it could be an option.

OP only wouldn't be responsible if they went thru the process of filing a claim of identity theft which includes a police report. If not, then they are 100% responsible both legally and in American Express's view. Not saying that this is the case here but many people try to claim 'someone else did it' when in fact they either opened the account themselves or allowed the relative do so.

Re: AMEX Schwab platinum

wasCB14 — Mon, 21 Aug 2017 16:30:58 GMT

@Anonymous wrote:
OP only wouldn't be responsible if they went thru the process of filing a claim of identity theft which includes a police report. If not, then they are 100% responsible both legally and in American Express's view. Not saying that this is the case here but many people try to claim 'someone else did it' when in fact they either opened the account themselves or allowed the relative do so.

How quickly does a person need to file a claim upon learning of the identity theft?

@Anonymous wrote:
Hard situation; if my brother stole my identity and racked up charges large enough for me to be unable to pay I would have to file a police report. I'd obviously be doing that for a stranger, but it wouldn't be possible for me to avoid it with family. If it were a trivial amount of money (for me) I'd probably make clear to him that I'm aware and will put a stop to things if they continue. I wouldn't file a police report over anything less than a single month's income. Different people surely have different thresholds.

If a relative took a little cash from my wallet, I might not file a police report the first time as it could possibly be explained by a mere moment of weakness.

But any amount of debt from a fraudulent CC app would mean a police report. Identity theft takes a bit more time and effort.

Re: AMEX Schwab platinum

Anonymous — Mon, 21 Aug 2017 16:52:12 GMT

climbfire wrote:
Hard situation; if my brother stole my identity and racked up charges large enough for me to be unable to pay I would have to file a police report. I'd obviously be doing that for a stranger, but it wouldn't be possible for me to avoid it with family. If it were a trivial amount of money (for me) I'd probably make clear to him that I'm aware and will put a stop to things if they continue. I wouldn't file a police report over anything less than a single month's income. Different people surely have different thresholds.

If a relative took a little cash from my wallet, I might not file a police report the first time as it could possibly be explained by a mere moment of weakness.

But any amount of debt from a fraudulent CC app would mean a police report. Identity theft takes a bit more time and effort.

Couldn't blame you for that at all. I'm in a position where I don't really experience hardship and am unwilling to send a family member to prison over a trivial amount of money (for me, something like 15k.) I wouldn't feel like anyone that took that step is in the wrong, however.