Amex amerprise plat

[CBartowski]

Anyone think this will happen to others like the Schwab?

[FinStar]

It appears the others are safe... for now. With Ameriprise Financial, there were already other optional CC products (previously Barclays, now ELAN) besides AmEx. Then again, partnerships can change so it's a matter of if and when.

When the Ameriprise Gold Card went *poof*, I had wondered about its Platinum brother, and now we know.

[wasCB14]

I think Amex is pretty strict in requiring people to have a Schwab account for those cards, unlike the Ameriprise cards.

Maybe the 1.25 cpp cash feature could be nerfed, but $100 for $250k or $200 for $1M isn't much to pay each year to keep a customer compared to typical bonuses brokerages will pay to acquire a customer.

Though with so many doing away with commissions, that may be changing to some degree.

[red259]

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@wasCB14 wrote:

I think Amex is pretty strict in requiring people to have a Schwab account for those cards, unlike the Ameriprise cards.

Maybe the 1.25 cpp cash feature could be nerfed, but $100 for $250k or $200 for $1M isn't much to pay each year to keep a customer compared to typical bonuses brokerages will pay to acquire a customer.

Though with so many doing away with commissions, that may be changing to some degree.

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What kind of Schwab account do you neet to qualify? Thinking of picking up a Schwab atm card to avoid atm fees overseas.

[FinStar]

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@red259 wrote:

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@wasCB14 wrote:

I think Amex is pretty strict in requiring people to have a Schwab account for those cards, unlike the Ameriprise cards.

Maybe the 1.25 cpp cash feature could be nerfed, but $100 for $250k or $200 for $1M isn't much to pay each year to keep a customer compared to typical bonuses brokerages will pay to acquire a customer.

Though with so many doing away with commissions, that may be changing to some degree.

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What kind of Schwab account do you neet to qualify? Thinking of picking up a Schwab atm card to avoid atm fees overseas.

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Brokerage and/or checking (they can be linked if you have both).  IIRC, @CreditCuriosity opened only the brokerage one...but he can confirm.  For GS and MS, a funded brokerage is required (MS min is $5K last I recall, but carries a monthly fee unless balance is >$25K). 

[CBartowski]

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@red259 wrote:

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@wasCB14 wrote:

I think Amex is pretty strict in requiring people to have a Schwab account for those cards, unlike the Ameriprise cards.

Maybe the 1.25 cpp cash feature could be nerfed, but $100 for $250k or $200 for $1M isn't much to pay each year to keep a customer compared to typical bonuses brokerages will pay to acquire a customer.

Though with so many doing away with commissions, that may be changing to some degree.

---

What kind of Schwab account do you neet to qualify? Thinking of picking up a Schwab atm card to avoid atm fees overseas.

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The debit card works great internationally, I gave it a shot not long ago and had no issues. As another member mentioned I do believe a Brokerage account is required but you might as well open a checking as well. I've found having the 2 of them makes moving money, for travel, etc, a lot easier. I've had good luck with Schwab so far in general, I would recommend. 

[CreditCuriosity]

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@FinStar wrote:

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@red259 wrote:

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@wasCB14 wrote:

I think Amex is pretty strict in requiring people to have a Schwab account for those cards, unlike the Ameriprise cards.

Maybe the 1.25 cpp cash feature could be nerfed, but $100 for $250k or $200 for $1M isn't much to pay each year to keep a customer compared to typical bonuses brokerages will pay to acquire a customer.

Though with so many doing away with commissions, that may be changing to some degree.

---

What kind of Schwab account do you neet to qualify? Thinking of picking up a Schwab atm card to avoid atm fees overseas.

---

Brokerage and/or checking (they can be linked if you have both).  IIRC, @CreditCuriosity opened only the brokerage one...but he can confirm.  For GS and MS, a funded brokerage is required (MS min is $5K last I recall, but carries a monthly fee unless balance is >$25K). 

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This is correct i opened brokerage where-as checking can get your card as well

[CreditCuriosity]

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@CBartowski wrote:

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@red259 wrote:

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@wasCB14 wrote:

I think Amex is pretty strict in requiring people to have a Schwab account for those cards, unlike the Ameriprise cards.

Maybe the 1.25 cpp cash feature could be nerfed, but $100 for $250k or $200 for $1M isn't much to pay each year to keep a customer compared to typical bonuses brokerages will pay to acquire a customer.

Though with so many doing away with commissions, that may be changing to some degree.

---

What kind of Schwab account do you neet to qualify? Thinking of picking up a Schwab atm card to avoid atm fees overseas.

---

The debit card works great internationally, I gave it a shot not long ago and had no issues. As another member mentioned I do believe a Brokerage account is required but you might as well open a checking as well. I've found having the 2 of them makes moving money, for travel, etc, a lot easier. I've had good luck with Schwab so far in general, I would recommend. 

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One thing to think about if you open checking it is a HP with schwab where-as brokerage if interested in Amex card you won't get a HP unless you do a margin account.  Needless to say also the checking side is VERY chexs sensitive inquiry so that plays a role possibly for some they will open it up then close it being the checking account a few days later if you have more then a few chexs inquiries in a year.  With that said many other options for 0 foreign ATM fee checking type acocunts such as Fidelity Cash Management account has no fees or no fees at international either by a SP.  Not sure about merill CMA as just opened on of those recently, but yet to read there fees and that wasn't a chex pull or HP either, but could be due to me having an IRA and CC and bank account with them already, but plan on getting rid of my checking account with them as just a place holder for obtaining the PR card from them, but merrill IRA will take that part and dont feel like keeping 1500 or doing direct deposit to them or a portion to avoid fees so will be closing the checking at BofA and leaving the CMA which acts just like a checking open for no fees.

[CBartowski]

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@CreditCuriosity wrote:

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@CBartowski wrote:

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@red259 wrote:

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@wasCB14 wrote:

I think Amex is pretty strict in requiring people to have a Schwab account for those cards, unlike the Ameriprise cards.

Maybe the 1.25 cpp cash feature could be nerfed, but $100 for $250k or $200 for $1M isn't much to pay each year to keep a customer compared to typical bonuses brokerages will pay to acquire a customer.

Though with so many doing away with commissions, that may be changing to some degree.

---

What kind of Schwab account do you neet to qualify? Thinking of picking up a Schwab atm card to avoid atm fees overseas.

---

The debit card works great internationally, I gave it a shot not long ago and had no issues. As another member mentioned I do believe a Brokerage account is required but you might as well open a checking as well. I've found having the 2 of them makes moving money, for travel, etc, a lot easier. I've had good luck with Schwab so far in general, I would recommend. 

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One thing to think about if you open checking it is a HP with schwab where-as brokerage if interested in Amex card you won't get a HP unless you do a margin account.  Needless to say also the checking side is VERY chexs sensitive inquiry so that plays a role possibly for some they will open it up then close it being the checking account a few days later if you have more then a few chexs inquiries in a year.  With that said many other options for 0 foreign ATM fee checking type acocunts such as Fidelity Cash Management account has no fees or no fees at international either by a SP.  Not sure about merill CMA as just opened on of those recently, but yet to read there fees and that wasn't a chex pull or HP either, but could be due to me having an IRA and CC and bank account with them already, but plan on getting rid of my checking account with them as just a place holder for obtaining the PR card from them, but merrill IRA will take that part and dont feel like keeping 1500 or doing direct deposit to them or a portion to avoid fees so will be closing the checking at BofA and leaving the CMA which acts just like a checking open for no fees.

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Good info thanks! Fidelity does no fx fees and no international atm as well?? That's great, good to know. 

OP: Look like you have options!

[CreditCuriosity]

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@CBartowski wrote:

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@CreditCuriosity wrote:

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@CBartowski wrote:

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@red259 wrote:

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@wasCB14 wrote:

I think Amex is pretty strict in requiring people to have a Schwab account for those cards, unlike the Ameriprise cards.

Maybe the 1.25 cpp cash feature could be nerfed, but $100 for $250k or $200 for $1M isn't much to pay each year to keep a customer compared to typical bonuses brokerages will pay to acquire a customer.

Though with so many doing away with commissions, that may be changing to some degree.

---

What kind of Schwab account do you neet to qualify? Thinking of picking up a Schwab atm card to avoid atm fees overseas.

---

The debit card works great internationally, I gave it a shot not long ago and had no issues. As another member mentioned I do believe a Brokerage account is required but you might as well open a checking as well. I've found having the 2 of them makes moving money, for travel, etc, a lot easier. I've had good luck with Schwab so far in general, I would recommend. 

---

One thing to think about if you open checking it is a HP with schwab where-as brokerage if interested in Amex card you won't get a HP unless you do a margin account.  Needless to say also the checking side is VERY chexs sensitive inquiry so that plays a role possibly for some they will open it up then close it being the checking account a few days later if you have more then a few chexs inquiries in a year.  With that said many other options for 0 foreign ATM fee checking type acocunts such as Fidelity Cash Management account has no fees or no fees at international either by a SP.  Not sure about merill CMA as just opened on of those recently, but yet to read there fees and that wasn't a chex pull or HP either, but could be due to me having an IRA and CC and bank account with them already, but plan on getting rid of my checking account with them as just a place holder for obtaining the PR card from them, but merrill IRA will take that part and dont feel like keeping 1500 or doing direct deposit to them or a portion to avoid fees so will be closing the checking at BofA and leaving the CMA which acts just like a checking open for no fees.

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Good info thanks! Fidelity does no fx fees and no international atm as well?? That's great, good to know. 

OP: Look like you have options!

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That is correct fidelity is same as Schwab being no ATM fees and no fx fees with regards to that just no HP associated.