(EXPIRED) Targeted 100K offer for Schwab Platinum

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Charles Schwab is out with a targeted offer on the American Express Platinum for Schwab card that is good for 100,000 Membership Rewards points after $5,000 in purchases in the first 3 months. That’s a terrific offer for those who are targeted.

The Deal

  • Charles Schwab is out with a targeted offer on the American Express Platinum for Schwab to earn 100,000 Membership Rewards points after $5,000 in purchases in the first 90 days
  • Direct link to more information (again, this offer is targeted, so I think you’ll need to have received the email to apply)

Key Card Details

The Platinum Card® from American Express for Schwab

Annual Fee: $550

Card Type: Amex Charge Card

Base
Travel

Earning rate: ⚬ 5X points for flights booked directly with airlines or with American Express Travel ⚬ 5X points for prepaid hotels booked through American Express Travel

Noteworthy perks: This card includes all of the great perks that come with the American Express Platinum Card, plus: ⚬ Use Membership Rewards® points for deposits by Schwab to your eligible brokerage account. (For example, 10,000 points = $125) ⚬ $100 credit with Schwab holdings of $250,000+ or $200 credit with holdings of $1,000,000+ on approval & each year.

See also: Which is the best Amex Platinum card?

Quick Thoughts

We occasionally see targeted 100K offers for what is often referred to as the “vanilla” Amex Platinum card (the non-Schwab version issued by Amex). However, this is the first time I recall seeing such an offer on the Schwab version, which is a different product (and therefore should be available to you even if you have had other versions of the Platinum card before). See our Amex Platinum Complete Guide for more information on the comparisons between different flavors. Keep in mind that you are likely not eligible for the welcome offer on this card if you have or have had the card before (regardless of whether or not you previously received a welcome offer).

The Schwab version of the Platinum card carries the same key features and benefits as other flavors of the personal card. However, it additionally offers the ability to redeem Membership Rewards points into your Schwab investment account at a rate of 1.25c per point. While that is certainly below our Reasonable Redemption Values, it can effectively make your rate of return on cards earning more than 1 Membership Reward point per dollar quite strong.

The landing page indicates that this offer is targeted to specific Schwab account holders via email, so be on the lookout for the email if you have a Schwab account. The link under the deal brings you to information about the offer, but YMMV as to whether or not you can qualify for the bonus if you haven’t seen the email.

H/T: Doctor of Credit

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