Amex announced last year that they’re partnering with Schwab for two new co-branded credit cards. Not many details were available at the time, and some more info came now to light. While there are no official links to the cards and they are not yet available for signup, wunderlicious on Reddit found some details on the card on the Schwab website. (There are no links yet to this web page, but it’s part of the Schwab site.)
Here are the signup bonus details
- Both cards are only for Schwab account holders
- There will be one standard ‘Investor’ version and one Platinum version
As mentioned on that page:
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 have an eligible Schwab brokerage account.
On the Investor/Standard card:
- Signup bonus will be $100 after $1,000 in spend
- Regular rewards will be 1.5% cashback, deposited into the linked Schwab brokerage account
- $0 annual fee
We don’t yet know what the signup bonus or reward details will be for the Platinum version. (One Reddit user says the bonus will be 40k.)
In any case, the Platinum version will presumably have all the standard Platinum benefits, like $200 airline incidental reimbursements, Global Entry, etc.
It’s interesting that the Schwab cards differ from the Amex/Morgan Stanely partnership which offers two co-branded cards; both the standard and Platinum card are part of the Membership Rewards program. With the upcoming Schwab cards, only the Platinum will be MR (like all Platinum cards) and the standard card will be a cashback card.
The Schwab cards are supposed to be released in early 2016, so we’ll probably know more some time soon.
