$300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year. Bonuses are earned in the form of Membership Rewards points that are generally worth at least 1 cent each. Editorial Disclosure:The content featured on UpgradedPoints.com has not been influenced, provided, or reviewed by the credit card companies mentioned. The American Express Platinum Card for Schwab is one flavor of The Platinum Card from American Express, the most popular card for servicemembers and military spouses. Generous welcome offer after meeting minimum spending requirements, Good to excellent credit, applications open to the public, Good to excellent credit, must have an open eligible Schwab account to apply, Receive up to $200 in statement credits based on qualifying holdings in your Schwab account, Transfer Membership Rewards for 1.1 cents each in value to eligible Schwab accounts, $695 annual fee; add up to 3 authorized users for $175 total, $175 for each authorized user after that, $0 for additional, 5x points on flights booked directly with the airline or on Amex Travel (up to $500,000 in purchases) and on prepaid hotels via Amex Travel, Redeem Membership Rewards points for select travel via Amex Travel, Transfer points to airline or hotel partners for award flights or free hotel nights, Bid for flight upgrades on existing flights with your preselected airline, Gift cards, statement credits, shopping, merchandise, or donate to charity, Access to the American Express Global Lounge Collection, Complimentary hotel and car rental program elite status and benefits (upon enrollment), Global Entry or TSA PreCheck application fee statement credit, Up to $200 in prepaid hotel credits each year, Up to $200 airline incidentals statement credit each year, Fine Hotels + Resorts and The Hotel Collection benefits, Trip cancellation, trip interruption, trip delay, Up to $100 in Saks Fifth Avenue statement credits each year, Up to $240 digital entertainment credit each year, Up to $155 Walmart+ membership reimbursement, Up to $300 SoulCycle At Home Bike purchase credit, Statement credit up to $200 based on Schwab account holdings, Redeem Membership Rewards points for 1.1 cents each to your Schwab account, Travel and shopping benefits and protections, 5x points per dollar spent on flights booked directly with the airline or on Amex Travel (up to $500,000 in purchases each calendar year), 5x points for prepaid hotel bookings made via Amex Travel, Link your Amex Schwab Platinum card with your eligible Schwab account and have the ability to. $240 Digital Entertainment Credit: Get up to $20 in statement credits each month when you pay for eligible purchases with the Platinum Card at your choice of one or more of the following providers: Peacock, Audible, SiriusXM, and The New York Times. Not all vehicle types or rentals are covered. If you want rewards to easily book any type of travel: The Chase Sapphire Reserve has airline and hotel transfer partners of its own, but it also offers a 50% value bonus when you use points through Ultimate Rewards Travel. Email needed if you'd like comment updates. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. American Express is an advertising partner of The Ascent, a Motley Fool company. Terms apply. Whats the benefit of this card? This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). WebCash Out via Charles Schwab Platinum American Express Platinum Card for Schwab cardholders can transfer Membership Rewards points into your eligible Schwab account. Terms, conditions and limitations apply. Holdings are measured following card account approval and annually thereafter. In the image below, we would need 2,450 MR points to pay for a $14.70 purchase. For The Platinum Card from American Express and American Express Platinum Card for Schwab, Cell Phone Protection, c. overage for a stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions and limits of liability of this benefit. Applies to warranties of five (5) years or less. The American Express Platinum Card for Schwab has quite a few features, from big bonus offers to ample spending credits. As a new cardholder, you earn a welcome bonus of 100,000 points for spending $6,000 on purchases in the first six months. Looks like I'll get a Schwab Platinum instead of the one I have now. 1 Month. Amex Concierge score hard to get restaurant reservations and concert tickets, Priority Pass Select membership (airport lounge access), with up to 2 guests, (Retail price of airfare) / (number of MR points required) = Cents Per Point Valuation. Well look at how each of the cards earns rewards, the options youll have at redemption time, and all the additional benefits and protections you can expect to receive with either card. They have since devalued that to 1.1 cents but it is still far superior to other options. Earn 5X points on prepaid hotels booked on amextravel.com, Up to $200 annual airline fee credit per calendar year to use for incidental fees like baggage fees, Up to $200 Uber credit, distributed $15/month and $35 in December, Up to $100 Saks Fifth Avenue credit, issued in $50 increments every 6 months per calendar year, Up to $100 Global Entry or TSA Precheck credit once every 4 years. See more: Best Credit Cards With Airport Lounge Access. Terms, conditions and limitations apply. While the cards have plenty in common, there are a few striking differences that could influence which card delivers more value for you. Theres no referral offers for that card. Risk management at Credit Suisse is a meme at this point. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! For The Platinum Card from American Express and American Express Platinum Card for Schwab Baggage Insurance Plan, coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. Note: This manual information entry process is required each time you cash out. Circle with letter I in it. Terms apply. Opinions, reviews, analyses & recommendations are the authors alone, and have not been reviewed, endorsed or approved by any of these entities. If you're a big spender who travels frequently, this card could be exactly what you need. Bottom Line: Both the Amex Platinum card and Amex Schwab Platinum card come with several shopping benefits and protections that offer statement credits, discounts, bonus point-earning opportunities, and protections that can provide financial relief if something should go wrong with your eligible purchases. The coverage is limited up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. The Charles Schwab American Express Platinum Card is only available to Schwab clients with eligible accounts such as a Schwab One or a general brokerage Falling within this credit range does not guarantee approval by the issuer. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period. Both Platinum card authorized users and those with an Amex Gold card receive Global Entry or TSA PreCheck reimbursement and The Hotel Collection benefits. promotional bonuses when transferring points, Full List of Travel Insurance Benefits for the Amex Platinum Card [2023], Up to $100 Saks Fifth Avenue Statement Credit, The Amex Platinum Card - Full Review [2023], Amex Platinum Card vs. Delta Platinum Card [Detailed Comparison], Amex Schwab Platinum Card Invest With Rewards Rate Dropping to 1.1%, The Amex Business Platinum Card - Full Review [2023]. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Circle with letter I in it. 4.80%. Underwritten by AMEX Assurance Company. Terms, conditions and limitations apply. It costs $695 per year to have this card. The valuation of Membership Rewards points varies when you use airline transfer partners. The Platinum Card from American Express is your ticket airport lounge access, exclusive pre-sales for events, hotel status, and more. Underwritten by New Hampshire Insurance Company, an AIG Company. There are usually plenty of complimentary protections available with American Express cards, and that's the case with this card. Eligibility and benefit level varies by card. For example, a first class ticket could be worth more than an economy redemption based on the retail price. Rewards Program: There are different types of credit scores and creditors use a variety of credit scores to make lending decisions. Receive a $100 statement credit if your qualifying Schwab holdings are equal to or greater than $250,000. For The Platinum Card from American Express and American Express Platinum Card for Schwab Trip Delay Insurance, you coverage is up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Just call the number on the back of your card to use this service. welcome bonus offer of up to 150,000 points with the Amex Platinum card! Falling within this credit range does not guarantee approval by the issuer. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Purchases must be made in the U.S. or its territories. The American Express Platinum Card for Schwab is nearly unmatched in the number of features it offers. $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. The Schwab Amex Platinum is considered a different product from the classic Amex Platinum. Her successful insurance and financial services career has been an excellent foundation from which to source her knowledge for many of Upgraded Points travel insurance articles. Since this is one of the best rewards cards in the American Express lineup, the card issuer typically only approves applicants with good credit or excellent credit. After that, you can make an awards booking with the partner. Amex Platinum card and Amex Schwab Platinum card authorized users receive global lounge access, hotel elite status, and other benefits. Visit americanexpress.com/. AskSebby is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. Earning all those Membership Rewards points can be somewhat satisfying, but the real treat is redeeming your rewards for something of value. Terms apply. The Platinum Card from American Express Exclusively for Goldman Sachs Platinum Card from American Express for Ameriprise Financial. The card details on this page have not been reviewed or provided by the card issuer. You can also follow the links provided for more information on how to utilize each benefit. Thats not to say you wouldnt be approved with a score slightly less than that, as other factors are considered, but the higher your score, the better your chances are for approval. Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel. Bottom Line: Both the Amex Platinum card and Amex Schwab Platinum card have the same rewards-earning potential for spending on either card. APY. If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience. Eligibility and benefit level caries by Card. The Schwab card has been a favorite among many Amex Platinum members and anyone is able to apply as long as theyre an active Schwab customer with a brokerage account that can be opened free of charge. The American Express Platinum Card for Schwab earns: A highlight with every version of The Platinum Card from American Express is the airport lounge access. you can actually just transfer it now, I got confirmation from both TDA and Schwab that no transfer fee will be charged if you are from TDA. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. 4 stars equals Excellent. Unfortunately, you cannot convert your Amex Platinum card to the Amex Schwab Platinum card. If they crash as a bank, it's safe to say that will be the least of our worries (end of the world type economy at that point.). Earn 5X points for flights booked directly with airlines or with American Express Travel and prepaid hotels booked through American Express Travel, 1X points for all other eligible purchases. Other rewards cards offer much more, such as bonuses on all air travel, hotel spending, or even travel as a whole. As a new cardholder, you earn a welcome bonus of 100,000 points for spending $6,000 on purchases in the first six months. There is the hefty $550 Platinum annual fee to justify, but then there are the $200 in annual airline and Uber credits, plus a host of other benefits, that come with every Amex Platinum card. Military Money Manual and CardRatings may receive a commission from card issuers. I just recently got my date for my account migration. For The Platinum Card from American Express and American Express Platinum Card for Schwab Trip Cancellation and Interruption Insurance, the maximum benefit amount is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Improve your credit: How to Increase Your Credit Score. That's especially true with its spending credits, such as the $300 in annual Equinox credits. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one-way or round-trip) is charged to an Eligible Card. Eligibility and benefit level caries by Card. Both the Amex Platinum card and the Amex Schwab Platinum card offer the opportunity to earn an initial welcome offer after meeting minimum spending requirements on the card within the first months after card approval. Underwritten by AMEX Assurance Company. Terms apply. The content featured on UpgradedPoints.com has not been influenced, provided, or reviewed by the credit card companies mentioned. Point valuations can range from 1-2 cents per points based on how you redeem them. Trip cancellation and interruption insurance, Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel, Receive up to $300 back annually as statement credits for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of options, Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary, Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel, Earn unlimited 2X miles on all other purchases, Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network, Receive up to a $100 credit for Global Entry or TSA PreCheck, Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and moreyou can even transfer your miles to your choice of 15+ travel loyalty programs, Elevate your stay at luxury hotels and resorts from the Premier Collection with a $100 experience credit, daily breakfast for 2 and complimentary WiFi on every booking, plus other premium benefits like room upgrades, early check-in and late checkout when available. ADVERTISEMENT Schwab even provides discounts for those customers who have a high amount of money invested with WebLooks like I may get a Schwab Platinum after all.. Been with Schwab for a while, really like them as a bank and as a brokerage. Here are six tips for keeping costs low and managing your money during your next trip abroad. $750/60,000 MR points = $0.0125 IMAGE VIA HTTPS://WWW.SCHWAB.COM/PUBLIC/SCHWAB/INVESTING/ACCOUNTS_PRODUCTS/CREDIT_CARDS Their bank account was very good. But if those benefits aren't a good fit for you, then it's not worth paying such a costly annual fee. Compensation may impact the order of which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. Other than this invest-with-rewards feature, the Schwab Platinum is nearly identical to the regular personal Amex Platinum card. The results from the above calculator are based on your ability to reach the minimum spend requirement to earn the welcome offer, your amount of spend on different categories, how you plan to redeem American Express Membership Rewards, and how much relative value you assign to the other benefits. Is there a reason AMEX would deny the 100K (80K in your article) membership points for the spending bonus? Many or all of the products here are from our partners that compensate us. Our ratings are based on a 5 star scale. American Express has over 20 airline and hotel partners where you can transfer your Membership Rewards points. This is a huge benefit and greatly increases the flexibility of your Amex points. Eligibility and benefit level varies by card. Lets look at the redemption options for both cards: Keep in mind that you can use a combination of points and cash to make travel purchases with Amex Travel. Visit americanexpress.com/benefitsguide for more details. The Years referenced in the calculator refer to the cardmember year, based on when you are approved for the card. How do I Redeem Membership Rewards Points. I enjoy the cash back straight to the brokerage. I cashed in 400k MRs for $5k when it was 1.25x. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). :). We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Military Money Manual connects US military servicemembers with the best military credit cards available. Amex Membership Rewards points are worth 1 cent per point when you book flights and use Pay with Points through American Express Travel. Circle with letter I in it. Just like the classic Amex Platinum, the annual fee on the Charles Schwab Amex Platinum is waived for active duty military and military spouses. The CS Platinum card used to allow you to cash out Membership Rewards at 1.25 cents per point and it would deposit them directly into your Schwab checking account. You can add authorized users for no fee but they will receive an Amex Gold card which comes with fewer benefits. An exclusive benefit with the American Express Platinum Card for Schwab is an annual statement credit offer. 5 points per $1 on airline tickets you purchase directly with airlines or through American Express Travel, up to a bonus cap of $500,000 in spending per calendar year, 5 points per $1 on prepaid hotel purchases you book through American Express Travel. Earn 5x points on airfare booked directly with airline or on amextravel.com up to $500,000 per calendar year, Earn 5x points on prepaid hotels at amextravel.com, Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts(R) or The Hotel Collection bookings, which requires a minimum two-night stay, through American Express Travel when you pay with your Platinum Card, 40 Centurion Lounges and 1200+ Priority Pass airport lounge access for free. Circle with letter I in it. Eligibility and benefit level caries by Card. I am an active duty US Air Force officer investing for financial independence by age 40. Best Credit Cards With Airport Lounge Access, A Complete Guide to American Express Membership Rewards Points, Capital One Venture X Rewards Credit Card, Copyright, Trademark and Patent Information. 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