FAQs

Get answers to frequently asked questions about Charles Schwab Cards from American Express.

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American Express card

Schwab Investor Card® from American Express

Frequently Asked Questions

This Card is issued by American Express National Bank. Schwab and American Express National Bank, have partnered together to create 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 applicant for the Card. 

Individuals 18 years of age or over with a valid U.S. home address (including in the U.S. territories and Puerto Rico) and an eligible Schwab account may apply for a Card account.

An eligible account means (1) a Schwab One® 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 or (2) a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor pursuant to a direct contractual relationship between you and such independent advisor.

If you don't have an eligible Schwab account, you can open one at Schwab One® or by calling 866-385-1227.

No. You will need to apply and be approved for a new Schwab Investor Card® from American Express account.

Yes, you can enable access to your americanexpress.com Card account information through your schwab.com account summary page.

For servicing-related questions about your Card account, call the number on the back of your Card.

For the Schwab Investor Card® from American Express, you receive 1.5% cash back on eligible purchases made with your Card automatically deposited into your linked eligible Schwab account. For example:

Eligible Purchases in a Billing Period Cash Back Deposited
$1,000 $15
$2,000 $30
$3,000 $45

Cash back is received only on eligible purchases and will be deposited to your linked eligible Schwab account. Eligible purchases means purchases for goods and services minus returns and other credits. Eligible purchases do NOT include fees or interest charges, 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.

Schwab will deposit associated funds into your eligible Schwab 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.

There is no monthly minimum purchase amount.

Your cash back may only be deposited into your linked eligible Schwab account.

No. Your cash back is automatically deposited after each billing period to your linked eligible Schwab account. If you have multiple eligible Schwab accounts and would like to change the account where your cash back is deposited, please contact Schwab at 866-385-1227.

American Express Platinum card

The American Express Platinum Card® for Schwab

Platinum FAQ

This Card is issued by American Express National Bank. Schwab and American Express National Bank, have partnered together to create 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 applicant for the Card.

Individuals 18 years of age or over with a valid U.S. home address (including in the U.S. territories and Puerto Rico) and an eligible Schwab account may apply for a Card account.

An eligible account means (1) a Schwab One® 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 or (2) a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor pursuant to a direct contractual relationship between you and such independent advisor.

If you don't have an eligible Schwab account, you can open one at Schwab One® or by calling 866-385-1227.

No. You will need to apply and be approved for a new American Express Platinum Card® for Schwab account.

Yes, you can enable access to your americanexpress.com Card account information through your schwab.com account summary page.

For servicing-related questions about your Card account, call the number on the back of your Card.

The Membership Rewards® program gives you one point for every dollar spent on your Card eligible purchases. Rewards start at just 1,000 points. Choose rewards from over 500 leading brands in travel, gift cards, merchandise, or entertainment, or redeem points for deposits by Schwab into your eligible Schwab account through Invest with Rewards.

For the American Express Platinum Card® for Schwab, you can redeem Membership Reward points for deposits by Schwab into your eligible Schwab account(s).

You can use the deposits in your eligible Schwab account to purchase investments available through Schwab.

For investment help, please call a Schwab investment professional 24/7 at 866-385-1227, or use our online tools and services to help guide you.

The minimum amount of Membership Rewards®points that can be redeemed through Invest with Rewards is 1,000 points.

If you have multiple eligible Schwab accounts, each time you make a redemption you will be asked to select the account in which you would like the deposits by Schwab to be made.

Please consult with your tax advisor regarding the tax implications of any reward.

This benefit is only available to the Basic Card Member on the Platinum Card® from American Express Exclusively for Charles Schwab, and will be awarded based on the Qualifying Schwab Holdings of the Basic Card Member as of each Measurement Date.

Schwab Appreciation Bonus Measurement Dates

Your Qualifying Schwab Holdings will be measured (a) within five business days of Card account approval and (b) on the first calendar day of your annual Card account renewal month (each date, a "Measurement Date"). If on a Measurement Date your Qualifying Schwab Holdings are: (i) equal to or greater than $250,000 and less than $1,000,000, you will receive a $100 Card statement credit; or (ii) equal to or greater than $1,000,000, you will receive a $200 Card statement credit.

Qualifying Schwab Holdings

Qualifying Schwab Holdings are the sum of the following assets and obligations: (1) the aggregate assets held in the following non-retirement Schwab Brokerage Account types over which the Basic Card Member is an owner, grantor or trustee: individual, joint, revocable living trusts (where the grantor and trustee are the same), testamentary trusts, custodial, 529, guardianship, conservatorship, estate, usufruct, and life estate accounts; plus (2) the aggregate assets held in the following retirement Schwab Brokerage Account types over which the Basic Card Member is an owner, grantor or trustee: Traditional Individual Retirement Accounts ("IRAs"), Roth and Roth Conversion IRAs and Rollover IRAs, but excluding IRAs, Roth and Roth Conversion IRAs and Rollover IRAs that are managed by an independent investment advisor pursuant to a direct contractual relationship between the Basic Card Member and such independent investment advisor; plus (3) the aggregate assets held in the following Schwab Bank Account types over which the Basic Card Member is an owner or grantor: checking, savings, and pledged asset accounts; plus (4) the outstanding mortgage and home equity loan balances owed to Schwab Bank by the Basic Card Member. Retirement assets not held in accounts listed above are excluded.

Please allow 6–8 weeks after calculation for the Card statement credit to be posted. To receive this benefit, your Card account must be active and not in default at the time of fulfillment. Your Schwab Brokerage and Schwab Bank Account types are described on your account statements available at www.schwab.com (or www.schwaballiance.com for clients of independent investment advisors). You can view your Schwab and Schwab Bank balances on the Account Summary page of www.schwab.com (or www.schwaballiance.com for clients of independent investment advisors). For questions about your Qualifying Schwab Holdings, please contact Schwab at 866-385-1227. Only Qualifying Schwab Holdings as of each Measurement Date will be used to determine eligibility for this benefit. For questions about your annual Card account renewal month, please call the number on the back of your Card.