American Express Launches Two New Co-Branded Cards with Charles Schwab
Charles Schwab clients now have access to rewards, benefits and services of American Express while receiving cash back deposited directly into their Schwab account
NEW YORK--( BUSINESS WIRE )--American Express (NYSE:AXP) today unveiled two new co-branded cards for Charles Schwab clients. The multi-year, exclusive partnership between the two companies was first announced last year. Designed to meet the different needs of a diverse customer base, the cards include a credit card and a premium charge card, both with exceptional rewards, benefits and services, including unlimited cash-back features.
- The American Express Platinum Card® for Schwab gives clients excellent rewards, benefits, and services with the added ability to redeem Membership Rewards® points for deposits by Schwab into a linked Schwab brokerage account (1) at the rate of 1,000 points for a $12.50 deposit. The Card includes a welcome offer of 40,000 points credited to the client’s Membership Rewards program account after spending $3,000 in eligible purchases on the Card in the first three months (2) .
- The Schwab Investor Credit Card™ from American Express lets clients seamlessly turn everyday spending into cash back. Clients can receive unlimited 1.5% cash back on eligible purchases automatically deposited into their eligible Schwab brokerage account (3) . The Card includes a welcome offer of $100 credited to the account after spending $1,000 in eligible purchases on the Card in the first three months (4) .
“Designed with the Charles Schwab customer in mind, these new cobrand cards will have attractive benefits and all the service and security of American Express,” said Eva Reda, Senior Vice President, Cobrand Partnerships at American Express. “Since different clients have different spending and credit needs, we are offering two cards for them to choose from, both with features that provide for cash deposits by Schwab directly into clients’ eligible Schwab brokerage accounts.”
Clients with an eligible Schwab brokerage account (5) —including clients who work with registered investment advisors – are able to apply for either Card. Card Members will then have the option to set up an integrated online experience with access to their Card account information on the Account Summary page of Schwab.com or, for clients of registered investment advisors (RIAs), on Schwaballiance.com.
To apply, Schwab clients can apply online at schwab.com/cards (Investor Services) or schwaballiance.com (Advisor Services). The digital application process is also mobile and tablet friendly.
The Charles Schwab Corporation (NYSE:SCHW) provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc., and affiliates offer a complete range of investment services and products.
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress,foursquare.com/americanexpress, linkedin.com/company/american-express,twitter.com/americanexpress, and youtube.com/americanexpress.
Invest with Rewards
(1) This reward is only available to the Basic Card Member on a Platinum Card® from American Express Exclusively for Charles Schwab that maintains a Schwab One Account or Schwab General Brokerage Account held in the name of the Basic Card Member or in the name of a revocable living trust where the Basic Card Member is the grantor and trustee. (an “eligible brokerage account”). Additional Card Members and otherwise authorized third parties, including authorized account managers, may not redeem Membership Rewards points for this reward.
A Basic Card Member may redeem a minimum of 1 thousand and a maximum of 4 million Membership Rewards® points every 7 calendar days for this reward.
Redeemed points will be immediately deducted by American Express from your Membership Rewards® account. Charles Schwab will deposit associated funds into your chosen eligible brokerage account within 4 to 6 business days, excluding bank holidays. Points are not refundable once redeemed.
This reward is subject to the Terms and Conditions of the Membership Rewards® program. Please consult with your tax advisor regarding the tax implications of any reward.
American Express Platinum Card® for Schwab Welcome Offer
(2) Welcome bonus offer not available to applicants who have or have had this product.
To be eligible to earn the 40,000 Membership Rewards® points, you must be enrolled in the Membership Rewards® Program at the time of purchase. 40,000 Membership Rewards® points will be credited to your account after you charge a total of $3,000 (the "Threshold Amount") or more of purchases on your Platinum Card from American Express Exclusively for Charles Schwab within the first 3 months of Platinum Card Membership starting from the date your account is approved. In rare instances, your period to spend $3,000 may be shorter than 3 months if there is a delay in receiving your Card. Also, purchases may fall outside of the 3 month period in some cases, such as a delay in merchants submitting transactions to us or if the purchase date differs from the date you made the transaction. (For example, if you buy goods online, the purchase date may be the date the goods are shipped). Qualifying purchases can be made by the Basic Card Member and any Additional Card Members on a single Card account. The following charges do NOT count towards the Threshold Amount: fees or interest charges; balance transfers; cash advances; purchases of travelers’ checks; purchases or reloading of prepaid cards; or purchases of other cash equivalents. Points will be credited to your Membership Rewards® account within 6-8 weeks after charges appear on your monthly billing statement. If you have any questions regarding this offer, please call the number on the back of your Card. American Express reserves the right to modify or revoke offer at any time.
(3) Cash back is only available to the Basic Card Member on a Charles Schwab Investor Credit Card™ from American Express that maintains a Schwab One® Account or Schwab General Brokerage Account held in the name of the Basic Card Member or in the name of a revocable living trust where the Basic Card Member is the grantor and trustee. (an “eligible brokerage account”).
An eligible brokerage account will be linked to your Charles Schwab Investor Credit Card™ from American Express at time of Card account approval. If you have multiple eligible Schwab brokerage accounts and would like to update your linked account, please contact Charles Schwab at 866-385-1227.
The cash back you will receive is 1.5% of the dollar amount of eligible purchases during a billing period. Cash back is received only on eligible purchases and will be deposited to your linked eligible brokerage account. Eligible purchases means purchases for goods and services minus returns and other credits. Eligible purchases do NOT include fees or interest charges, balance transfers, cash advances, purchases of travelers’ checks, purchases or reloading of prepaid cards, or purchases of other cash equivalents.
You will not receive cash back for eligible purchases posted to your Card account during a billing period if the Minimum Payment Due shown on the statement for that billing period is not paid by the Closing Date of the next billing period.
Charles Schwab will deposit associated funds into your eligible brokerage account approximately 6 to 8 weeks from the end of the billing period in which they are received.
Please consult with your tax advisor regarding the tax implications of any reward.
Schwab Investor Card™ from American Express Welcome Offer
(4) Welcome bonus offer not available to applicants who have or have had this product.
To qualify for the $100 Card statement credit, you must make purchases with your Charles Schwab Investor Credit Card™ from American Express that total $1,000 or more within your first 3 months of Card Membership, starting from the date your account is approved. In rare instances, your period to spend $1,000 may be shorter than 3 months if there is a delay in receiving your Card. Also, purchases may fall outside of the 3 month period in some cases, such as a delay in merchants submitting transactions to us or if the purchase date differs from the date you made the transaction. (For example, if you buy goods online, the purchase date may be the date the goods are shipped). The statement credit will be applied 6-8 weeks after the spend threshold is met.
Purchases to meet the spend requirement of this offer include those made by both the Basic and Additional Card Members on the Card Account. Purchases to meet the spend requirement of this offer do NOT include fees or interest charges, balance transfers, cash advances, purchase of travelers checks, purchase or reloading of prepaid cards, or other cash equivalents.
Additional Card Members on your account are not eligible to receive the Card statement credit. To receive the Card statement credit, your account must be active, in good standing and not in default at the time the Card statement credit is posted to your account. American Express reserves the right to modify or revoke offer at any time.
Eligible Schwab Brokerage Account
(5) 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 maintain an eligible Schwab brokerage account (an “eligible brokerage account”). An eligible brokerage account means a Schwab One® Account or Schwab General Brokerage Account held in your name or in the name of a revocable living trust where you are the grantor and trustee. Eligibility is subject to change.
American Express may cancel your Card Account and participation in this program, if you do not maintain an eligible brokerage account.
Charles Schwab Credit Card Payment, Login, and Customer Service Information
If you are a Charles Schwab American Express credit card holder, below is all the information you need to access your account online, get your bill paid, or to reach an American Express customer service representative by telephone.
- If you want to pay your Charles Schwab American Express credit card bill online, go here to log in and make a payment.
If you’d like to mail in your American Express bill, the payment mailing address is:
Fort Lauderdale, FL 33336-0001
If you need to reach American Express credit card customer service or want to pay by phone, the phone number to call is 1-800-472-9297.
Credit One Bank® Platinum Visa® for Building Credit - See if you Pre-Qualify without harming your credit score. +This fully unsecured credit card with no deposit requirement can be helpful in growing or building credit. Your account activity will be reported monthly to all three major credit bureaus. +All the features you want in a credit card are included. Get 1% cash back on eligible purchases, take advantage of free online credit score tracking, and enjoy credit line increase opportunities. Terms apply.
Indigo® MasterCard® for Less than Perfect Credit Pre-qualify today without an impact on your credit score. Helping consumers with limited or damaged credit make a fresh start for over 12 years. Prior bankruptcy is OK. Account history is reported to the three major credit bureaus in the U.S.
DISCLOSURE: Credit Card Catalog is an independent, advertising-supported service. Credit card offers on this site may be from companies that compensate us for new customer acquisition. This compensation may impact the location and order in which these products appear. While Credit Card Catalog attempts to include a wide range of card offers, the site does not include the entire universe of available credit offers.
Note that opinions expressed here are from their respective authors alone, not from any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within any article.