Amex MR Points to Cashback?

[Anonymous]

Hey hey!

The SchwabOne is actually called BrokerageOne, apologies, that is the nickname is has in my online banking when I look at it so that is what I have been calling it. I haven't really dived into the difference between the Brokerage and SchwabOne brokerage, however I do know the standard brokerage has a lot more requirements than the SchwabOne. Also, in the T&Cs you sent, it specifically lists the SchwabOne as one of the eligble brokerage accounts for the Platinum as well.

I used this link when I applied: https://www.schwab.com/public/schwab/banking_lending/checking_account

When I first got the account, I literally threw $100 in the checking and left the SchwabOne at zero. Technically I didnt even need to do that since the checking has no minimum requirements or service fees either but I like Schwab and plan to move my business over there due to their amazing customer service.

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@wasCB14 wrote:

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@Anonymous wrote:

Wrong. That is if you open a standard brokerage account.

If you open a Checking account, you have to get a BrokerageOne account linked to it by default with it which voids the minimum balance requirement since it is linked to a checking account.

"Eligibility

The Platinum Card® from American Express Exclusively for Charles Schwab and the Charles Schwab Investor Credit Card® from American Express are only available to you if you maintain an eligible account at Schwab (an "eligible account"). An eligible account means (1) a Schwab One® or Schwab General Brokerage Account held in your name or in the name of a revocable living trust where you are the grantor and trustee or (2) a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor pursuant to a direct contractual relationship between you and such independent advisor. Eligibility is subject to change.

American Express may cancel your Card Account and participation in this program, if you do not maintain an eligible account."

https://www.americanexpress.com/us/credit-cards/card-application/apply/partner/print/personal-card/c...

I'm not familiar with BrokerageOne. Is a BrokerageOne account the same thing as a General Brokerage Account?

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[Anonymous]

...also, I would like to add that they did NOT HP me even though all of the DPs on these forums, and Schwab's disclaimer, says they might. When I applied I got a screen saying I needed to call in for verification, and when I called in they said they would ask me five public record questions and if I got them all right that they didnt need to do a HP (dont know if it's like that for everyone or if it's on a case-by-case basis). The questions ranged from the normal what addresses are you associated with, which places do you have loans with, do you have a relationship with this company,etc.) 

[wasCB14]

Schwab One is definitely eligible for the Amex cards, and it looks like you're right that there's no minimum for a Schwab One linked to a checking account.

I'm just still a bit confused as I can't find any reference to "Brokerage One" in any Schwab or Amex literature.

[Anonymous]

Per my original note the official name is "SchwabOne" I just referred to it as "Brokerage One" because when you open the account it gives the account a nickname. Mine had two: "Brokerage" and "Brokerage One" depends on the screen. "SchwabOne" is the offical name for the non general brokerage account version.

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@wasCB14 wrote:

Schwab One is definitely eligible for the Amex cards, and it looks like you're right that there's no minimum for a Schwab One linked to a checking account.

I'm just still a bit confused as I can't find any reference to "Brokerage One" in any Schwab or Amex literature.

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