Posted by William Charles on September 27, 2019
Credit Card Offers

Published on September 27th, 2019 | by William Charles

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[Offer is Back] Schwab Investor Card from American Express $200 Sign Up Bonus

[Reposting 9/27/19 as offer is back and valid until 11/6/2019. Hat tip to reader Chris S

[Reposting 6/27/18 as offer is back through August 15th (HT: reader Alex). Originally posted on 10/30/17.]

The Offer

Direct link to offer

  • Schwab Investor Card from American Express is offering a sign up bonus of $200 after $2,000 in spend within the first three months of Card Membership.

 

Card Details

Our Verdict

The bonus on this card has always been $100 after $1,000 in spend, so both the bonus and minimum spend requirement have been doubled. I personally can’t see them offering a bonus greater than $200 anytime soon, so it might be a good chance to jump on the card now. Card is only useful for the sign up bonus, as there are plenty of cards that earn at a higher rate than 1.5% cash back on all purchases. This is one of the better cash sign up bonuses.

Because American Express bonuses are once per lifetime you really only want to apply when they are offering their highest bonus and this is the case here. I think it’s worth applying if you value cash sign up bonuses, can meet the minimum spend requirement and already have an Schwab account (otherwise it’s a hard pull to open one. But as mentioned it comes with a $100 bonus as well and it is a very useful account).  It’s not such a crazy good bonus that everybody should apply for it, so I won’t be adding it to our best credit card sign up bonus page but it’ll still be useful for a lot of people. As always please read this post on everything you should know about American Express cards.



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Frito Pendejo
Frito Pendejo

Alright! Amex + Schwab are making this a great year.

Credit
Credit

I think these don’t count towards the 5 card limit. Correct?

Frito Pendejo
Frito Pendejo

Why wouldn’t it count? Its not a charge card and I believe co-branded cards contribute towards the limit. I have four amex credit cards now so I’m gonna close one before I apply.

Credit
Credit

Cuz, it’s given by Schwab not Amex.

But I never had to think about it so I may be wrong.

Frito Pendejo
Frito Pendejo

As far as I know all co-branded cards still count towards the limit. Costco (when it existed), Hilton, etc. were all mentioned in the “4-5 amex credit card limit” threads I read

Superchurn
Superchurn

counter DP…I have 5 amex CC’s, and a 6th WF Propel World cobrand.

guy bucktastik
guy bucktastik

Counter counter DP: WF propel world isn’t issued by Amex, It’s issued by WF. It’s not co-branded. Only brand involved is WF.

chaseaholic
chaseaholic

WF Propel / WF PW are *not* cobrands. They are 3rd party AmEx’s (which is the key difference).

AmEx branded = Gold/Plat/Green/etc. (count towards limit if not charge)

AmEx Cobranded = SPG/Delta/etc. (count towards limit)

AmEx 3rd Party = Propel / World, FNBO travelite, Penfed Pathfinder, old BBVA AmEx, etc. (don’t count towards limit – not issued by AmEx)

Lrdx
Lrdx

It’s not a 3rd party card running on AmEx network, rather issued by American Express proper. So it does count against the bank’s 5 CC limit.

Frito Pendejo
Frito Pendejo

Oh yeah thats a good point. I think I still have some old National Penn Bank amex card too. Maybe that doesn’t count towards the limit, or I got lucky and have five.

Miz
Miz

Same question… (Though I am not inclined to think it doesn’t count. I am completely neutral!)

Credit
Credit

Frito, how? They only have two cards

Frito Pendejo
Frito Pendejo

Schwab Plat features cashout of MR points

Lisa
Lisa

Does this card (schwab investor Amex) or the Schwab Plat get amex offers? Thanks.

Frito Pendejo
Frito Pendejo

Schwab plat does. The hilton one does too, so I see no reason why this one would not.

Frito Pendejo
Frito Pendejo

Sooo… is anybody actually able to apply? I just get cycled back to the login page when I click the Apply Now link. Login in… find the offer under Credit Cards… Apply Now… back to login page…

Frito Pendejo
Frito Pendejo

Nevermind, worked on a different browser. Pending review… maybe I should have waited longer between closing another card and applying.

joe
joe

for the schwab platinum — if i want to triple dip the $200 credit, when is the best time to apply for the card… December 10th?

Harman
Harman

Early December/ the very end of November would probably be fine. In the event it doesn’t get approved immediately or your $200 credit doesn’t go through as planned, however unlikely that may be, you want some buffer time.

Michael
Michael

It’s still a hard pull to open this even if you have a Schwab account already right?

Electroman
Electroman

Of course.

Robert
Robert

Can you upgrade this card after a couple month to the AMEX platinum Schwab card?

phil
phil

If I can’t get a sign up bonus that puts $400, or more, in my pocket/account, I’m not doing it. Too many great offers out there.

Tom
Tom

Anybody know which credit reporting agency they use for the hard pull? I have frozen all three and it would be nice to unfreeze only one of them.

Brian K
Brian K

Would a hard pull for this card be combined with a regular Amex card like Amex Business SPG? I know Amex business and personal card hard pulls can be combined, but i’m just curious if this card being a Schwab card changes that at all.

Justin
Justin

Would love to get a Schwab account but unfortunately they are Chex/Hard inquiry sensitive and I was denied a few months back. Extremely frustrating.

Does anyone know if you can cash out MR into someone else’s Schwab account?

Brian K
Brian K

If you have a Schwab Platinum Amex, that may be possible, I’m not positive. I had to “link” my schwab brokerage account to the American Express website/card when I first cashed out my points. I forget if it had to confirm it was my own personal account or not.

I think what you are getting at though is if it’s possible to redeem MR points for 1.25 cents each without the Schwab Amex Platinum card. In that case, it’s definitely not possible. Until I had the Schwab Amex Platinum the “Invest with Rewards” section of the website did not exist to me. You go through that section of the amex website to cash out your points to your Schwab account.

Frito Pendejo
Frito Pendejo

No, I don’t think you can cash out MR from somebody elses account. If you can, I’d love to know how so I can cash out my wife’s MR.

I read something about how you can spend each others MR if you are an AU on somebody elses account… but I couldn’t get a clear explanation. Never heard confirmation of it working with Schwab

Josh
Josh

Bummer, this is literally 1 day before I close on my new house. Wonder if the link will still stay around for a day or two after..

Ben
Ben

Do you need an existing Schwab account to apply? Or can I just apply without a Schwab account?

Josh
Josh

The first step has you log in, but you can also create an account from this screen.

Josh
Josh

Which would you pick if you could only choose one: Cash Magnet or Schwab Investor Amex?

Joe
Joe

Can you meet/ MS a $7500 MSR on the cash Magnet? Are there no other better cards you can get besides those two? If you had to get one and could meet the spend easy, then cash magnet.

Josh
Josh

I’m open to other Amex cards, is there a better Amex card with no annual fee?

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