Schwab investor card reddit 1. Schwab and American Express National Bank, have partnered together to create the Schwab Investor Card ® from American Express and the American Express Platinum Card ® for Schwab, exclusively designed for Schwab investors like you. Please note that Schwab is not involved with any credit decision, or in the approval process, for any Fidelity Card. 588K subscribers in the churning community. 35% management fee), which supports multiple investment goals. 5% so you don't nessary have to make 40k of purchases to overcome the $200 SUB. Low-cost robo advisor service (Fidelity Go, 0. Fidelity has a visa 2% cash back on all purchases. 1 Easy transfers from checking to/from your linked brokerage account Unlimited ATM fee rebates, no foreign transaction fees 3 Tighter security with card lock/unlock 4, transaction alerts, fraud alerts and travel notifications Free standard checks and free trueI've been looking into opening a Schwab bank account for travel since there is no foreign transaction fees, exchange fees, or atm fees. Hello, I'm planning to abandon WF as my day-to-day/hub-and-spoke bank account. I have a Schwab brokerage account currently with Schwab. Advantages of Schwab vs big banks (Chase, BoA, Citi): Free checking account. The $200 SUB offered by Schwab is negated after 40k of purchases between both cards ($600 1. If you're into investing, the cashback rewards can be 21 votes, 17 comments. Schwab refunds ATM fees at the end of the month. Is it possible to get a Schwab debit card for ATM use without opening a checking account? My brokerage account has cash in it. It makes the annual fee look not so much out of control (which I think it kind of is but still works for me) and everything just gets better if you have a point strategy system in place with other Amex cards. It wasn't a HP on my credit as they didn't even get that far he said. I applied online and was approved instantly You do not automatically get a debit card sent to you. Not all of it has been used to purchase stocks,MF, or ETF. Oct 6, 2025 · Investment credit cards offer a way to increase your holdings through credit card rewards, but are they the best option for you? Find out in our analysis of the best investment credit cards. So why don't more people get the Schwab variant over the standard platinum given the 1. That 2% everything really is great. Fewer credit card options. Now I have to wait until Monday to call the New Accounts department to see if they reconsider. On a similar topic, does anyone know if it's possible to get a spare card to take with you when you travel? Say you lose your main card, you can call them, cancel it, and then they'll activate your spare card and you can use that. Sep 26, 2025 · Earn a $200 Card Statement Credit after spending $1,000 in purchases on your Schwab Investor Card ® from American Express in the first 3 months of Card Membership. Does anyone who has used Schwab in other countries know if this Visa fee is actually a thing because I have been Welcome to the only officially recognized American Express community on Reddit. As it is an online bank, you cannot deposit cash. Investor card or CS Amex Platinum are the only choices. Question: How good is the retail banking experience for the checking account? How Is the scwab investor card with no annual fee different from the schwab plat? So if I get the no annual fee one first, and later get the scwab plat 100k - 150k bonus, will I be eligible? Locked post. I believe that is when the clock begins. Fee-free ATM withdrawals from VISA ATMs, just like Schwab (true, there may be a 1% swipe fee if you use it at point of sale to buy something, but I would never use a debit card for any purchases while traveling abroad). Thanks. Great customer service most of the time. Fractional shares on all trades, while Schwab only offers it for stocks in the S&P 500 index. Enjoy unique cards with premium rewards, services, and experiences from American Express. A place to learn and talk about credit card rewards The only difference I think matters is that Schwab’s branded credit has an Amex platinum that you get 100 dollars off annual fee if you have 250k assets with them. 1 CPP transfer flexibility? Is there something I missed? We would like to show you a description here but the site won’t allow us. Would getting the $0 AF non-platinum Schwab investor card down the road allow me to convert the AMEX MR points into cash back or stmt credit at a more favorable rate? See full list on uscreditcardguide. Some people still have this old type of account but to get the new features they have to fill out paperwork to upgrade it. Would love advice from current owners! We would like to show you a description here but the site won’t allow us. In the past, Schwab used to have a 2% cashback card, which they replaced with the 1. 5% cards just don't make sense anymore. You can put money in a fixed income asset within Schwab and have the interest and dividend go towards paying off your Amex card. I personally prefer having a Schwab investor checking account to keep transactions separate. 20 votes, 14 comments. They offer an extensive, very complete range of mutual funds. I really just want to keep the Schwab open for when I want to travel. Schwab is a great one-stop-shop for all of your money movement and investment needs. They rebate ATM fees (even international) and when I lost my debit card once, they FedEx'd me one the next day at no charge, and I didn't even have that much money with them. However, you should know that their Credit cards are managed through American Express, so you would need a separate app and bookmark for the account, thus it's not truly under one roof, but the two credit cards, in their current state are fantastic if you are in the AMEX ecosystem or need a super simple cash Schwab refunds ATM fees at the end of the month. Schwab Bank Visa debit card and checks on the left. Schwab used to have a brokerage account I believe they stopped opening for people in the 90's. Would this mean i should be OK'd to get the Charles Schwab Investor Card having an account with them ? Its also a co branded card so i would think the underwriting would be similar and easiest to get ? Can I transfer my points from my regular Platinum card to the free Schwab Investor Card® from American Express? I have a decent amount of points from the welcome bonus and I don't really travel. Jan 17, 2019 · You need to open a Schwab investment account to qualify for the Amex Schwab Investor card. 1 CPP transfer flexibility? Is there something I missed? Oct 13, 2025 · Charles Schwab Investor American Express credit card review: fees, benefits, cashback, pros and cons. The Schwab card is known as the Schwab Investor Card® from American Express. Also you can’t disable the debit card of the Schwab One brokerage and transactions on the Schwab One brokerage don’t show up until the next trading day. 5 % on all purchases) and it now has non-embossed numbers. With the market flooded with 2% flat cards, and the WF Autograph eating basically everybody's lunch with a wide range of 3% categories, it seems like 1. 35 votes, 23 comments. I do my non-TSP investing with Vanguard, but I saw AmEx has a card with Charles Schwab (the Schwab Investor card), so I'm thinking about opening an account with Schwab to get that card. 13 votes, 23 comments. I doubt you can, but it would be excellent if this was possible. Designed exclusively for Schwab investors. I've been doing a little bit of research, and apparently Visa cards charge 1% on all foreign transaction, but I'm not sure if this is true. With today's refresh of the BCE and BCP, it got me wondering if Amex may push the co branded Schwab Investor card and the Cash Magnet to 2% this year? Nov 7, 2024 · The Amex Schwab Investor Card is offering a best ever signup bonus of $300 when you spend $1,000 in the first three months. I think the main difference between it and the checking debit card is that you can't use the brokerage one with Apple Pay for some reason. American Express, a leading financial institution, offers a wide range of services including credit, debit, and charge cards, complemented by various travel-related services. May 17, 2025 · Re: Schwab Investor AMEX Card by Paul Grouch » Sat May 17, 2025 2:31 pm I've closed a few cards over the years and haven't noticed a significant change in my credit scores as a result. I was looking at getting the AMEX platinum when I noticed that there is no Account minimum to maintain to open a Charles Schwab brokerage account. Schwab's mutual fund selection is fairly limited compared to Fidelity and Vanguard. The process is a little unusual and there’s very little info About it online, so figured I’d collect what I learned and experienced here. A fair number of the lucrative Amex Offers (that you'd easily expect to see on the Platinum) appear on the Schwab Investor. I used to be at… Otherwise open the Schwab Investor checking and ignore the linked Schwab One brokerage account or treat it like a saving account and buy SWVXX to get higher yields. I use it to buy whatever doesn't fall under the categories from my BCP or Amazon visa. However, you should know that their Credit cards are managed through American Express, so you would need a separate app and bookmark for the account, thus it's not truly under one roof, but the two credit cards, in their current state are fantastic if you are in the AMEX ecosystem or need a super simple cash Check writing at Schwab One brokerage only uses one account. As the title says, I was able to find my way out when applying to the Marriott Bonvoy Brilliant Amex. For context, here’s my card lineup and the time when I received them: Gold - 11/19 Plat - 09/22 BBP - 05/23 I realize this may not work for everyone and that some of these steps may have nothing to do with getting out of jail at all. I am trying to figure out if I should add one of these cards to my rotation. Curious what individuals have managed to get approved for your Schwab Bank debit card daily withdraw limit. 120 votes, 122 comments. One thing with Schwab is that you can't deposit cash so I use Capital One for that. But being only Amex can be a drawback. As others have stated, the triggering event was when the investor checking account was funded with at least $100. Are the schwab amex cards specifically the 1. That makes that card very versatile and valuable Just wanted to share with the community that I recently got the Schwab Investor Card (the one that gives 1. Would the Schwab-AMEX Investor Card ($0 AF) automatic cash back redemption be considered a contribution if I had put it into a ROTH IRA? We would like to show you a description here but the site won’t allow us. Is the Schwab Amex card discount if it’s managed by Schwab or just the total value of your accounts there? Is it also the same… A place to focus primarily on all things related to Charles Schwab. My primary bank doesn't have an ATM nearby and I will be traveling ~ once a year. It earns 1. They also have an investor card with Amex that gets your 1. However the biggest benefit is that your card balance shows up on Schwab and you can pay the balance if you have a Schwab bank account. So, I went ahead and canceled my Cash Magent card. If Schwab still had the 2% cashback card, I would go for that. com Apr 3, 2024 · If you have a brokerage account with Charles Schwab and are looking for a rewards-earning credit card that could help you maximize your investments, you may want to look into the Schwab Thoughts on Charles Schwab Investor Cards? Hello all, I have been chewing on the idea of picking up the Schwab Investor Card or The Platinum Card that is exclusive for Schwab customers. I'm focused mostly on digital experience as I do not need brick and mortar bank. 69% vs 0. Schwab One Visa debit card and checks linked to brokerage account itself on the right. However, the Cash Magnet is a main line Amex card, so it would be easy for Amex to change it. 5% back on all purchases. I've used both and prefer Schwab for my banking needs. Mar 20, 2021 · I had the Cash Magent Card which I don't use anymore and it is the sister card to the Charles Schwab Investor Card. Thus, you can go over the $6,500/year contribution limit for your Roth IRA. The Schwab Investor Card says that you "earn an unlimited 1. The Schwab account works exactly like a bank account. I recently opened an investors checking when my TD account wasn’t transitioned to Schwab. These Cards are issued by American Express National Bank. If you have a Schwab Amex card you can direct your cash back bonus to be deposited into an IRA or Roth IRA on the Schwab website, click more column on your linked Amex card you can then click on change linked account And you can choose your Roth IRA Now schwab will not count these cash back deposits as contribution but as bank bonus's. Keep in mind, if you were to invest the cashback rewards, the 2% would compound better than 1. You earn interest on the money sitting in your Fidelity CMA account that’s over 5x higher than Schwab (2. After having both a vanilla and Charles Schwab (CS) version of the card honestly the CS is a no brainer for me. Context: You can cash out MR points into Schwab. Looking to put all my rewards into my money market fund. This is a community, full of seasoned investors and newbies, focusing around the idea that investing is not as scary as some people make it. There is no minimum balance in the checking account. Also transactions don’t show up until the next trading day. Join the conversation and unlock a world of exclusive perks and premium service. Total time in popup jail was 3 days. I love Schwab investor checking, especially during the times I lived overseas. It’s a known issue and I was able to ultimately link them by temporarily turning off 2 factor authentication on the AMEX website. 5% back into your brokerage account) and will use that to replace my sock-drawered Quicksilver card. " Would these deposits result in a tax liability at the end of the year? Thank you! I recently opened a schwab checking account. If you are interested, might as well just open the checking and brokerage at the same time. I like the (worldwide) no fee ATM Schwab debit card and the ability to add external accounts to your summary page. Recommendation is to open a local bank account with free checking for purposes of cash/failed mobile deposits. A subreddit for discussing credit cards. According to Schwab employees, this is a "bonus" rather than a contribution and it doesn't count toward any limits. Charles Schwab does indeed offer a credit card similar to the Fidelity Rewards Visa Signature Card. In my opinion (and I say this as one who invests at Schwab), this is not a very good card. 1 conversion in the schwab account seems like it would benefit your investment account more so than having “better funds. Unconfirmed by me, but you may be able to deposit cash in ATMs that accept deposits. I was thinking of migrating to Schwab as my main investment platform and I thought of using the checking account as my main hub for day-to-day banking. A couple cons with using only the Schwab One brokerage is that you can’t disable the debit card in the app. I've had no issues with it and the app is better than Fidelity. Whether you're looking to maximize your rewards, navigate travel perks, or get the most out of exclusive experiences, this subreddit is your go-to resource. It was replaced by the schwab one which allowed new account features such as a check book and debit card and the linked checking. No foriegn exchange fees for the debit card. May 17, 2025 · I've closed a few cards over the years and haven't noticed a significant change in my credit scores as a result. Question about the AmEx Schwab credit card cash back redemption I just got approved for the Schwab investor credit card. Do a lot of people use it as their main account? If you do, besides the inability to deposit cash easily, what are the downsides that you’ve experienced? I plan on keeping a local account open for things that I need a physical bank for. 5x one, worth using mainly schwab for? The 1. But I at least wanted 4 days ago · Schwab Investor Card® from American Express Review [2025]: Solid Cash Back, But With Restrictions The Schwab Investor Card from American Express could help boost your investment portfolio, but it's not the best choice for most people. Be sure to read sub rules before posting, use the resources linked in the sidebar / about section of the sub, and use search to see if your question has already been answered. Shown here for design and appearance differences Apr 7, 2022 · Re: Charles Schwab Investor Card I pre qualified for the Delta Gold, Gold card, and Platinum card. Schwab doesn't offer a checking account separate from a brokerage account. ATM reimbursement domestically or internationally. I used chat support with Schwab and this was the answer I received: To receive the debit card for your Schwab bank investor checking account please fund it with at least a penny! For checks $100. You can get a debit card for a Schwab brokerage account if you don't have it linked to a checking account. I mean hell, Amex gives a bigger discount on the AF if you have a qualifying corporate card than Schwab gives for having $250k in assets. 00. com. We would like to show you a description here but the site won’t allow us. Keep in mind the $200 just comes off your card balance, it doesn't go into Schwab. For those who have the Schwab Platinum card is there anything different about the experience then just being able to sync it with your Schwab brokerage account and also cash out points? Thinking about getting the Schwab version instead of the Vanilla that I already have but want to know if there are any cons or other things to be aware of. This card is designed for Schwab investors and offers a range of benefits that may be appealing if you're looking for rewards that can complement your investment strategy. 5% cash back automatically deposited into your eligible Schwab account for purchases made with your Card. I'm assuming you are comparing Fidelity's CMA to Schwab's Investor Checking. Is keeping it at $0 fine or will they close my account? Is long periods of inactivity a good way to get it closed? Maybe keep it at $1? r/Amex is the place for American Express cardholders to connect, share tips, and discuss everything related to their premium card benefits. Correct, they open a brokerage account at the same time for you. 45%). But, opening an account with Schwab Does result in a hard pull if you're a brand new customer (the representative who got in touch with me over the phone confirmed this). Hey everyone! Looking to possibly get the Amex Schwab Investor card as my catch-all card to put money mindlessly back into my… I don't have a Schwab account so can't say for certain, but you might try looking into their International Brokerage account, it comes with a Visa debit card with no ATM fees. Recommendation is to open a local bank account with free checking for purposes of cash/failed mobile I received my checks and debit card on different days. It would just be one hard pull, but I was wondering if it would be quite bad Does anyone know how to remove the investor card from showing on the Schwab app? We would like to show you a description here but the site won’t allow us. I’m considering making it my main bank account now. Your available credit will decrease, which is probably bad, but your average age of account will increase, which is good. The money you save on Amex Offers with the Schwab Investor plus any cash back could potentially help you come out ahead compared to other cash back cards (even 2% cards). I have most of my cards with them. I don’t have the AMEX investor card but I do have the Schwab AMEX platinum card and I was having the same issue trying to link the card on Schwab. Search for "debit card" when you're logged into the Schwab site. Instead of waiting for them to send you a replacement. 24 votes, 20 comments. I just got the Amex Schwab Investor card (1. I received my debit card in about 9 business days and the checks took a few business days longer than that. So the Schwab AMEX investor card notes rewards that are paid out and deposited into your schwab account? Is it… I have other checking accounts with a local credit union for cash deposits and my main one with Wealthfront. But since the Schwab card is co-branded it would make it hard for Amex to update it. 5% cash back, the same as the Amex Cash Magnet, the Chase Freedom Unlimited, the Capital One Quicksilver, and the NFCU cashRewards. Also what is people’s general experience with the Schwab Platinum? Is it still worth getting Charles schwab platinum with no sub bc of new vanilla platinum policy? Is it worth the -$100 on annual statement for having $250k portfolio? And would you cancel your vanilla platinum? Thanks for your feedback! What the hell would a person who had relied on Schwab for being their primary checking account have done without access to their funds indefinitely? Thank god I have Chase as my main bank. You need to . No car loans. Don't have to use it and theres no fee, but this is the reason for the hard pull. New comments cannot be posted. Main purpose of the account is to use it abroad to access cash via ATMs without various fees. Hello Folks. Disadvantages: Bad for cash deposits or money orders. If you apply for the Investor Checking account, they will also open a brokerage account to link it to. And yes, the ATM debit card you get with Schwab checking is best in class A subreddit for discussing credit cards. 5% vs $800 2% cashback). Nov 7, 2024 · The Amex Schwab Investor Card is offering a best ever signup bonus of $300 when you spend $1,000 in the first three months. One pro for Schwab you didn't mention is that you get unlimited ATM reimbursements abroad. If I have already met my contribution limits, will cash back continue to be deposited and I could potentially be penalized for over-contributing? Just curious, thanks. Is there anything I need to do or set-up to redeem the points or do they automatically post to my Schwab account every month? From personal aspect, the amex schwab investor card, not the Plat, helped me get my foot in the door into Amex and have a relationship with them. Membership provides significant benefits, including unique rewards, advantageous pricing options, excellent customer service, and numerous . How to get it? We would like to show you a description here but the site won’t allow us. I recently opened a Charles Schwab investor checking account, primarily for the debit card with ATM fees reimbursed. ” What's good? I have the Schwab Amex Investor credit card and I have opted for my cash back to be deposited into "an eligible Schwab account"- my Roth IRA. 5% cashback card. Hello! I have a Schwab High Yield Investor Checking Account with a debit card that I recently opened since I travel abroad… Does anyone know how to remove the investor card from showing on my app? I recently close my Amex card but on my Schwab app it still shows my investor card with no balance just a blank column. Share Sort by: Best Open comment sort options Best Top New Controversial Old Q&A RookieShopper • Yes Reply reply Compare our checking account What's in it for me? The Schwab Bank Investor Checking ™ account is linked to a Schwab One brokerage account. ilab nvae fmqwggkh kyb prshvurb xwnjve tegpdbce hykl xvjxh qrvhw mkysb vxbchm wxytuqq qil qljkg