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The Offer
Direct Link to offer (keep in mind, this offer is targeted)
- Signup for the American Express Platinum card for Schwab and get a signup bonus of 100,000 Membership Rewards points after spending $5,000 within 3 months.
Check you email for subject “LIMITED TIME ONLY: Exclusive 100K Points Offer”. If not eligible, it’ll show “not eligible” after login.
Offer valid through September 30, 2019. “100K Points Offer is a targeted promotion available only to select Schwab clients who were invited to participate. This offer is not transferable or salable.”
Card Details
- Ability to redeem Membership Rewards points into your Schwab investment account at 1.25 cents per point
- Annual fee of $550 is not waived the first year
- Authorized Platinum cards are $175 for three user (then $175 per Platinum)
- Authorized Gold cards are free
- Full details here
- Card earns at the following rates:
- 5x points per $1 spent on purchases made with airlines or with American Express Travel
- 5x points per $1 spent on hotel bookings made directly from the American Express travel website
- 1x points on all other purchases
- $200 airline incidental credit per calendar year
- $200 Uber credit ($15 per month and additional $20 in December)
- Lounge access:
- Centurion lounge access
- International American Express lounge access
- Delta SkyClub lounge access
- Priority pass select membership
- Airspace lounge access
- SPG gold status (this will also give you Marriott Gold status)
- Hilton gold status
- Fee Credit for Global Entry or TSA Pre✓
- No foreign transaction fees
- SoulCycle benefits
- View these other hidden benefits
Our Verdict
This offer was sent out via email; I’m unsure if it’s working for anyone who didn’t get the email, but you can check on the public landing page. If you were targeted, it’s really a terrific offer. You can get one signup bonus for each Amex Platinum flavor; so long as you never had Schwab Platinum before, you should be eligible.
The Platinum cards aren’t worth as much as they used to be since the airline credit is no longer easily usable, but with 100,000 bonus it’s great for the first year, at the least. Some people like the Schwab Platinum long term for the ability to cash out all Membership Rewards points at a value of 1.25 cents per point. Read this post for Things To Know About American Express Credit Cards before applying.
Hat tip to suiris
Just tried applying for the Schwab Plat, have never had the card before, but have had the vanilla Plat as well as a Mercedes Benz that was converted to the vanilla. Upon applying for the card I was greeted by the popup stating that due to the cards I had previously had I was not eligible for the signup bonus.
Have the multiple sign bonuses been put to an end?
Same here.
Maybe it’s the end.
Amex finds new ways to screw it’s customers everyday so I wouldn’t be surprised
I didn’t get the popup, and I’ve gotten the popups before (when getting Amex Marriott when I already had Chase Marriott). Military so they’ll waive the fee so I guess I’ll just convert the vanilla plat if worse comes to worse
Not targetted. Btw noticed a new benefit (not listed on the main page) –
“Receive a $100 Card statement credit if your qualifying Schwab Holdings are equal to or greater than $250,000 or receive a $200 Card statement credit if your qualifying Schwab Holdings are equal to or greater than $1,000,000, when measured following Card account approval and annually thereafter.”
I see this only on the referred link, but don’t see it on my offers page for Amex.
That’s not new, and it’s on the main page for the Schwab card. (It doesn’t apply to non-Schwab plat cards, if that’s what you were thinking.)
Targeted on 0/4, 2 have checking, brokerage, and IRA (relatively small balances). Other 2 have higher balances in IRA’s, but no other Schwab products.
Seems to be targeting a lot of people who already has sch plat
We’re Sorry. The promotion is either no longer available or you are not eligible for this offer.
No email, not eligible. I had to log in to my Schwab account separately first to receive a security code to check my eligibility.
Airline credit is VERY usable.
Not eligible. Have a Schwab taxable, IRA, Roth IRA for 5 years with 700K total. Never had a platinum of any kind.
Thanks for posting this. Unfortunately not eligible. I only show 60k offer when logging in.
I have a bit of a dumb question: Who issues this card? Is this an Amex product with the Schwab name on it, or is it a Schwab card that runs on the Amex network (like the Wells Fargo Propel Amex)?
It’s fully an Amex card.
Not a dumb question! I need a card that gives instant account number for some expenses. The fact that this is an actual Amex card effects that. Thank you for asking this question.