topic Re: AMEX Plat to Schwab Plat in Credit Cards

AMEX Plat to Schwab Plat

elixerin — Sun, 19 Jan 2020 02:33:25 GMT

beyond the hard pull for opening the brokerage and checking schwab accts, is a hard pull on schwab plat a possibility since its still AMEX? im currently a revolving and charge account holder thru amex but couldn’t find answers on this anywhere...

thanks guys

Re: AMEX Vanilla Plat to Schwab Plat

simplynoir — Sun, 19 Jan 2020 02:29:47 GMT

Since AMEX is the one processing the application and you're already a cardholder the possibility of it only being a SP is very high. YMMV as always with that though

Re: AMEX Vanilla Plat to Schwab Plat

FinStar — Sun, 19 Jan 2020 02:38:11 GMT

My Ameriprise Platinum approval was HP, and I've been a card member for eons. So, YEMV as mentioned above. If SP then great, but expect a HP if anything.

Re: AMEX Plat to Schwab Plat

PointsBonus — Sun, 19 Jan 2020 03:13:11 GMT

From my personal experiance. My AMEX Schwab was 2nd to my last AMEX cards on my signature line, and it was a SP pull for me. I personally have not had a HP from AMEX since my first card.

Hope this helps.

Keep us posted

Re: AMEX Plat to Schwab Plat

M_Smart007 — Sun, 19 Jan 2020 04:52:46 GMT

@elixerin wrote:
beyond the hard pull for opening the brokerage and checking schwab accts, is a hard pull on schwab plat a possibility since its still AMEX? im currently a revolving and charge account holder thru amex but couldn’t find answers on this anywhere...

thanks guys

My Schwab Amex card was Soft Pull

Re: AMEX Plat to Schwab Plat

wasCB14 — Sun, 19 Jan 2020 05:08:47 GMT

HP but nearly 4 years ago.

Re: AMEX Plat to Schwab Plat

elixerin — Sun, 19 Jan 2020 17:42:51 GMT

thanks Viper, wanted to gain all the knowledge before moving in deeper.. currently the Plat card i have is the only point earning card and i’ve gotten around 200kish points with welcome bonus included.. i was doing some big maths and found that 200k x 0.0125 (the Schwab points for cash redemption) is like $2500+.. in case i dont have plans for travel and only having put 36k on it so far this really isn’t bad, all of this without the schwab platinum welcome which im assuming i can obtain?

Long term goal is the BBP, downgrade this plat to gold and get the schwab platinum, all the welcome bonuses combined and my current spend this is great cash back if i cant seem to find favorable redemption options thru amextravel or transfer partners, this way i can feel a bit better being “stuck” with so many points and not “wasting” them through impulse redemptions, gonna wait till jan 2021 for second $50 saks credit, make use of all calendar credits and some time for everything to age THEN downgrade before second AF hits and circle back.. can’t wait

Re: AMEX Plat to Schwab Plat

PointsBonus — Sun, 19 Jan 2020 05:27:02 GMT

@elixerin

That is exactly what I did ! Found out about the 1.25% to the Schwab brokerage Acct which then u can transfer to ur Schwab checking Acct . Signed up for Schwab normal sign up bonus and DOWNGRADED my Vanilla Platinum to Gold. Then got the business god and green - and all the MR points from all 4 cards go into the same Acct.

Hope this helps

Re: AMEX Plat to Schwab Plat

icednightpaper — Sun, 19 Jan 2020 09:41:30 GMT

I was under the impression that the cobrand Plats were HPs despite being AMEX-issued. Good to see that experiences denote otherwise.

Re: AMEX Plat to Schwab Plat

-Wright- — Sun, 19 Jan 2020 11:39:01 GMT

The CS Plat was my 8th AmEx and it was a soft pull. As a matter of fact of all 10 of my AmEx cards, the 1st was a hard pull and all others were soft. But as always YMMV.

Re: AMEX Plat to Schwab Plat

coldfusion — Sun, 19 Jan 2020 14:45:44 GMT

@icednightpaper wrote:
I was under the impression that the cobrand Plats were HPs despite being AMEX-issued. Good to see that experiences denote otherwise.

As FinStar and simplynoir pointed out, which I concur with based on personal experience, it's very much a YMMV.

Schwab Platinum statement redemption help

elixerin — Fri, 24 Jan 2020 20:47:17 GMT

the effective 5-6.25% cash back on this card isn’t too shabby.. i just spent 18k in tickets for the 92kish points not too long ago and am researching redemption options..

huge questions for people playing this setup currently.. is it REQUIRED you have the schwab platinum for its cash redemption of 1.25 cents per point? or is just the brokerage account required (and maybe a no AF card from them) for that specific cpp statement redemption.

other words can i redeem my gold or everyday points into the brokerage acct for cash at 1.25 cpp WITHOUT the schwab platinum? how does it work?

thanks

Re: Schwab Platinum statement redemption help

PointsBonus — Fri, 24 Jan 2020 20:51:26 GMT

@elixerin wrote:
the effective 5-6.25% cash back on this card isn’t too shabby.. i just spent 18k in tickets for the 92kish points not too long ago and am researching redemption options..

huge questions for people playing this setup currently.. is it REQUIRED you have the schwab platinum for its cash redemption of 1.25 cents per point? or is just the brokerage account required (and maybe a no AF card from them) for that specific cpp statement redemption.

other words can i redeem my gold or everyday points into the brokerage acct for cash at 1.25 cpp WITHOUT the schwab platinum? how does it work?

thanks

You must have a Schwab American Express & Brokerage account.. The process is, all your MR points get pooled in one account - Gold,Green and Platinum. BUT only via the American Express Schwab Platinum Account within American Express it gives the option of "INVEST WITH MY POINTS" which from that link it sends you the the AMEX/SCHWAB link which give you the 1.25% redemption. Then after it gets into your Brokerage account then you can transfer it to you Schwab normal Checking account.

Hope this helps.

Re: Schwab Platinum statement redemption help

elixerin — Fri, 24 Jan 2020 20:58:41 GMT

helps a ton, thanks for the speedy reply and insight viper

Re: Schwab Platinum statement redemption help

elixerin — Sat, 25 Jan 2020 05:11:42 GMT

one more little off related inquiry lol.. in your experience, does uber eats count towards amex greens 3x? thanks

Re: Schwab Platinum statement redemption help

wasCB14 — Sat, 25 Jan 2020 06:02:12 GMT

@PointsBonus wrote:

@elixerin wrote:
the effective 5-6.25% cash back on this card isn’t too shabby.. i just spent 18k in tickets for the 92kish points not too long ago and am researching redemption options..

huge questions for people playing this setup currently.. is it REQUIRED you have the schwab platinum for its cash redemption of 1.25 cents per point? or is just the brokerage account required (and maybe a no AF card from them) for that specific cpp statement redemption.

other words can i redeem my gold or everyday points into the brokerage acct for cash at 1.25 cpp WITHOUT the schwab platinum? how does it work?

thanks
You must have a Schwab American Express & Brokerage account.. The process is, all your MR points get pooled in one account - Gold,Green and Platinum. BUT only via the American Express Schwab Platinum Account within American Express it gives the option of "INVEST WITH MY POINTS" which from that link it sends you the the AMEX/SCHWAB link which give you the 1.25% redemption. Then after it gets into your Brokerage account then you can transfer it to you Schwab normal Checking account.

Hope this helps.

https://ficoforums.myfico.com/t5/Credit-Cards/MR-UR-TY-after-recent-changes/m-p/5755696#M1669692

Posts 42 and 44 have illustrations of the process for anyone curious.

Re: Schwab Platinum statement redemption help

PointsBonus — Sat, 25 Jan 2020 06:03:41 GMT

@elixerin wrote:
one more little off related inquiry lol.. in your experience, does uber eats count towards amex greens 3x? thanks

I have never used Uber eats, I am sorry,I wouldn't know

Re: Schwab Platinum statement redemption help

wasCB14 — Sat, 25 Jan 2020 08:14:49 GMT

@PointsBonus wrote:
@elixerin wrote:
one more little off related inquiry lol.. in your experience, does uber eats count towards amex greens 3x? thanks
I have never used Uber eats, I am sorry,I wouldn't know

I know on CSR, Uber Cash coded as Travel, and Uber Cash can be used towards Eats.

You can buy Uber Cash for up to 5% off face value (pay $95, get $100), and it's probably at least as likely as Eats to code as travel.