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Schwab Brokerage Account questions

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Mega Contributor

Re: Schwab Brokerage Account questions

Yay, congrats on being patient lol 

If CK is not showing HP, there is not one. 

EX 759 EQ 774 TU 753


Message 31 of 41
Senior Contributor

Re: Schwab Brokerage Account questions

Schwab eliminating most trading fees.

 

https://www.businesswire.com/news/home/20191001005489/en/Conjunction-Chuck-Schwab's-New-Book-%22Inve...

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Message 32 of 41
Moderator

Re: Schwab Brokerage Account questions


@wasCB14 wrote:

Schwab eliminating most trading fees.

 

https://www.businesswire.com/news/home/20191001005489/en/Conjunction-Chuck-Schwab's-New-Book-%22Inve...


yep saw that today perfect timing imo i had lol.  Man other companies such as etrade etc tooik a pounding on this announcement even schwab took a bit hit today as well but only about 3-4% of their earnings come from said fees vs other places like etrade, etc is hurt alot more by this change.  Good change indeed and hopefully gets more people investing

Message 33 of 41
Member

Re: Schwab Brokerage Account questions


@dskjsdalk wrote:

As another data point: I opened a Schwab brokerage + checking acount a few weeks ago, and haven't seen a HP yet! I specifically made sure to un-check the "margin" option when signing up.


Just saw got a notification from Credit Karma— Charles Schwab did in fact do an HP on EQ when I signed up. Not sure why it took so long to appear (about two weeks)

 

Might as well apply for margin now

Message 34 of 41
Moderator

Re: Schwab Brokerage Account questions


@dskjsdalk wrote:

@dskjsdalk wrote:

As another data point: I opened a Schwab brokerage + checking acount a few weeks ago, and haven't seen a HP yet! I specifically made sure to un-check the "margin" option when signing up.


Just saw got a notification from Credit Karma— Charles Schwab did in fact do an HP on EQ when I signed up. Not sure why it took so long to appear (about two weeks)

 

Might as well apply for margin now


interesting no hp for me, but i didn't go for checking so maybe where that is where hp originated shrug.  'I keep my credit monitored like a hawk as well.  No I just need to find some money to money into said account although not going to do any trade this month as october scares me in the market Smiley Happy

Message 35 of 41
Established Contributor

Re: Schwab Brokerage Account questions


@wasCB14 wrote:

Schwab eliminating most trading fees.

 

https://www.businesswire.com/news/home/20191001005489/en/Conjunction-Chuck-Schwab's-New-Book-%22Inve...


Beat me to it. This will hopefully allow for more people to start investing. 


AU




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Message 36 of 41
Super Contributor

Re: Schwab Brokerage Account questions

The only thing I don't really like about schwab is they really don't have a great money market option compared to say vanguard and fidelity to lesser extent. Correct me if i am wrong but the schwab sweep account doesn't go automatically into a govermenmet money market account like it does with fidelity and vanguard.

With that being said i do like that they are getting rid of a lot of fees for most trades, but for me personally doesn't really affect me since I have a really simple portfolio, of US total market index fund and long term treasury index fund. I can buy those almost anywhere and they are basically the same. I do like fidelity because they have no min balance required so it fits my needs the best .



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
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Message 37 of 41
Senior Contributor

Re: Schwab Brokerage Account questions

Re: "hopefully gets more people to invest" posts...

 

Total US Market Cap to GDP sits around 141%. Bonds aren't a great alternative, but that's historically quite high for stocks and most people will likely start with domestic indexes or individual US-listed companies. Getting more people to invest _now_ may be a bad thing if they overpay for shares and lose money, bailing out after some future selloff...swearing off stocks for a while, only to get back in after a future run-up.

 

I own four stocks. It's not that I'm aiming for the skies, trying to earn amazing returns. Much of my concentration is because broader valuations make me uncomfortable.

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Message 38 of 41
Senior Contributor

Re: Schwab Brokerage Account questions


@mongstradamus wrote:

The only thing I don't really like about schwab is they really don't have a great money market option compared to say vanguard and fidelity to lesser extent. Correct me if i am wrong but the schwab sweep account doesn't go automatically into a govermenmet money market account like it does with fidelity and vanguard.

With that being said i do like that they are getting rid of a lot of fees for most trades, but for me personally doesn't really affect me since I have a really simple portfolio, of US total market index fund and long term treasury index fund. I can buy those almost anywhere and they are basically the same. I do like fidelity because they have no min balance required so it fits my needs the best .


Bank sweep pays very little - 0.12% or 0.50% above $1M.

 

The Schwab sweep money fund (1.37%) is closed to most new domestic investors:

https://client.schwab.com/secure/cc/products/investments/cds_and_money_markets/sweep

 

There are some better returns on purchased (no commission, generally no minimums) money markets funds.

 

But a lot of my cash goes to cover puts, so I'll take the low-fees-but-little-interest tradeoff.

Most spend: CSR, CFU, BBP
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Message 39 of 41
Super Contributor

Re: Schwab Brokerage Account questions


@wasCB14 wrote:

@mongstradamus wrote:

The only thing I don't really like about schwab is they really don't have a great money market option compared to say vanguard and fidelity to lesser extent. Correct me if i am wrong but the schwab sweep account doesn't go automatically into a govermenmet money market account like it does with fidelity and vanguard.

With that being said i do like that they are getting rid of a lot of fees for most trades, but for me personally doesn't really affect me since I have a really simple portfolio, of US total market index fund and long term treasury index fund. I can buy those almost anywhere and they are basically the same. I do like fidelity because they have no min balance required so it fits my needs the best .


Bank sweep pays very little - 0.12% or 0.50% above $1M.

 

The Schwab sweep money fund (1.37%) is closed to most new domestic investors:

https://client.schwab.com/secure/cc/products/investments/cds_and_money_markets/sweep

 

There are some better returns on purchased (no commission, generally no minimums) money markets funds.

 

But a lot of my cash goes to cover puts, so I'll take the low-fees-but-little-interest tradeoff.


I am more a buy and hold kind of guy , so I don't really know too much about puts and options and all that stuff, so for me I think its just easier to have sweep account that pays a decent amount. I think in my vanguard account its 2% for prime money market and fidelity its ~1.55% for their treasury money market fund. Its probably a really minor thing since I usually don't have all that much money in those accounts ever. 

 

The other thing about schwab which is really minor is that they don't have mutual fund for long term treasuries like you do with vanguard and fidelity. I think if you want to invest in long term treasuries you had  to use spdr etf for that, now you have access to TLT VGLT and EDV, but its still only etf. I know this is really nitpicky but I like idea of mutual funds where you can just put in dollar amounts with partial shares not have to buy entire share of etfs. 



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 40 of 41
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