American Express is one of the famous worldwide payment corporations. Cards are used as a form of payment in their utilization and for third parties. This company offers several types of cards with specific benefits. For example, Charles Schwab 2 cash back credit card includes an American Express Platinum card.
This article will show you about American Express Platinum Charles Schwab with several benefits like cash back and other offerings. So, take a look closer!
About Charles Schwab Corporation
Charles Schwab Corporation is an American financial company that provides several services. For example, banking, credit, financial administration, advisory, and brokerage by their secondary company. The corporation, specifically, works for investment things. Moreover, they said investing is an essential thing for the future.
About American Express, they provide rewards investments for the clients together. In addition, American Express and Charles Schwab Corporation partnered to gain clients for Schwab Investors Card by AmEx. However, American Express provides particular services and benefits for Schwab 2 cash back credit cards.
What Does American Express Offer for Charles Schwab 2 Cash Back Credit Card?
American Express is a global payment card offering some types of cards based on several benefits and rewards. The card types are The Platinum Card from American Express, American Express Gold Card, and Blue Cash Everyday Card from American Express.
In another case, Charles Schwab includes in AmEx Platinum Card. Particularly, most people use this card type for luxury travel. AmEx Platinum card is famous among travel credit cards, especially their Schwab 2 cash back credit card benefits. Furthermore, Schwab 2 cash-back here means they offer discounts of up to 2%.
Specifically, the offer or perks given by American Express to Platinum Card holders for Charles Schwab include:
1. Earn 80,000 Points Membership Reward
Platinum Charles Schwab holders of cards may earn up to 80,000 points toward their membership incentives. Furthermore, by utilizing American Express for Charles Schwab, they may earn points after spending $6,000 in their first six months of Card Membership. The rewards point can be used to pay for anything.
For example, it can be paid for shopping, dining, traveling, and entertainment. Moreover, the annual fee starts from $695. For instance, the same offer by original Platinum types also provides the services with the Charles Schwab one. Both Platinum cards provide the best luxury travel experience at great prices.
2. 5X Points for Flight & Hotel Book
By using Charles Schwab 2 cash back credit card by AmEx, people can earn points up to 5x by directly booking flights through AmEx Travel. In addition, you may earn the same points for hotels booked through their travel provider. They also grant 2 points to earn for cruise vacations.
Furthermore, AmEx provides services like Hotel Collection that help you select the best hotels in your vacation target location. On their website, they provide a variety of Fine Hotels & Resorts. AmEx will provide 5 points for every dollar spent on hotel reservations.
Remember that the reward purchasing limit is only up to $500,000 per calendar year. However, they will count 5 points for $1.
3. Obtain Entry to Airlines Lounges
Another benefit of using a Charles Schwab Platinum card is accessing the airport lounge. For example, you can enter all of the Centurion Lounges worldwide. In addition, you will get a free pass for Delta Sky Clubs, Priority Pass Lounges (which requires enrollment), and other additional lounges services.
Furthermore, you may enjoy premium services such as a spa and a fast Wi-Fi connection in their lounges. You may also eat the most delicious meals prepared by award-winning chefs. They will also serve other high-quality drinks and wines for you.
4. Offering for Charles Schwab 2 Cash Back Credit Card up to $200
American Express offers a special benefit for Charles Schwab Platinum users for annual credit reports. However, there are specific amounts you will get based on the qualifications, such as:
- Purchase with Schwab investments total $250,000 or more, you will get a $100 statement credit
- If the Schwab funds are $1,000,000 or greater, your statement credit will be $200
- If the card is accepted, you will receive a full statement credit and must pay yearly after that
American Express Platinum vs. American Platinum Schwab
American Express Platinum card and American Platinum Charles Schwab are the same card types. The differences are mostly seen in the benefits and earning points they get. In detail, the differences are in welcome offers, additional earnings, additional redemption options, and application. Here is the explanation:
1. Welcome Offers
- AmEx Platinum: Get 80,000 points for $6,000 purchasing in the first six months
- AmEx Platinum Schwab: Has minimum spending requirements
2. Additional Extra Bonus
- Platinum: No benefits
- Platinum Schwab: $200 for statements credit
3. Additional Redemptions Selections
- Regular Platinum: There are no benefits to this card type
- Platinum Charles Schwab: Can transfer membership bonus of 1,1 cents to Schwab account along with several requirements
- AmEx Platinum: Open applications for public
- Charles Schwab: Having a Schwab account is a must
Nevertheless, only Platinum Schwab offers up to a 2% bonus on all Schwab 2 cash back credit card purchases.
Who Can Get AmEx Platinum Schwab Card?
People 18 or older can apply for this card type if they live in the U.S. with accurate addresses. In addition, you must register for a Schwab account before getting American Platinum Charles Schwab.
Particularly, the accounts are Schwab One or Schwab General Broker with your name as the owner or the life guardianship that can be sent back to you as the owner. Moreover, people with no relation with liberated investment counselors did not manage Schwab Traditional, Roth, or Rollover IRA.
So, if you want an AmEx Platinum Charles Schwab 2 cash back credit card, you must apply for a Schwab account.
Is the American Express Platinum Schwab Card The Best Option?
Does this AmEx type of card the best for you? Deciding on this question is looking at the priority you have. For example, if you are a travel buddy who likes luxury vacations, this is the best option since they offer unique benefits like Schwab 2 cash back credit card.
However, the higher amounts compared to regular AmEx card types might be difficult for some people. So, before deciding to use this card, consider your financial goal and strength before choosing this option.
In contrast, if you like to get investment for your Schwab account, this could help you. Therefore, the benefits of using this card are actually for both parties from American Express Platinum Charles Schwab and Charles Schwab account.