Charles Schwab Platinum Offer

There is a new Charles Schwab Platinum offer that is the best we have ever seen on the card. We may have jumped the shark a bit already, did you even know there was a Charles Schwab Platinum card? Maybe not, since it is a bit confusing. Not to pile on here, but there are actually three different versions of the personal American Express Platinum card. They each are slightly different than each other, but they are the same in all of the big ways (travel perks!). The Platinum cards even have their own family card rule, which plays a role in the Amex family rules at large too. Let's take a look at all of this, and go over the details of the new all time high offer.

Different Versions Of The Platinum Card By American Express

The first thing we need to break down is that there are three versions of the Amex Platinum personal card. You can think of them like the Three Musketeers, all for one and one for all, in a sense. That is because with the addition of the Platinum family rule, once you have one of these cards you are ineligible to get a welcome offer on the other two. You used to be able to get the bonus for each individual card, but Amex ruined the fun.

Here are some of the differences between the three versions of the Amex Platinum card:

• The Platinum Card from American Express (vanilla or OG version)
  • This is the one you see most often.
  • You can refer a friend to this card
  • This option usually has the largest welcome offer
• Charles Schwab Platinum card
  • Must have a Charles Schwab account, but that is a good thing.
  • Annual statement credits for account holders with $250,000+ invested.
  • Can cash out Membership Rewards points at 1.1 cents each into your Charles Schwab account
• Morgan Stanley Platinum Card
  • Must have a Morgan Stanley account
  • $500 bonus when spending $100,000 in a year
  • Platinum CashPlus clients can get the $695 annual fee essentially waved
  • Can redeem Membership Rewards into your investment account at 1 cent per point
  • 1 free Platinum authorized user card (normally $195)

As you can see, there are a few slight differences between the different options. The original Platinum card usually offers the largest welcome offer (which is still true now) and is the only one that you can refer to. The Charles Schwab Platinum offers the highest cash out rate in the Membership Rewards program, at 1.1 cents per point. While the Morgan Stanley Platinum card offers a 1 cent per point cash out option, and one free authorized user card each year.

Which one works best for you would depend on your needs. Do you want the largest welcome offer, or do you plan to keep the card long term? Does having a higher cash out rate matter more to you, or would you like to add a significant other to your account at no fee? These are the questions you will need to answer

The Rest Of The Perks Are The Same Across All Three Versions

Outside of those differences notated above, the three American Express Platinum cards are identical in terms of perks and earning structure. That is as follows across all three versions the Platinum card:

Amex Platinum Earning Structure

Here is the earning structure for all three versions of the American Express Platinum cards.

• 5x points for flights booked directly with airlines or with American Express Travel
  • On up to $500,000 on these purchases per calendar year
• 5x points on prepaid hotels booked with American Express Travel.
• 1x on all other eligible charges

Amex Platinum Card Benefits

Here are some of the perks you will receive across all three versions of the Amex Platinum.

• Uber Cash – $200 per year (broken up monthly)
• Lounge access
• Airline incidental credit – $200 per calendar year
• FHR/Hotel Collection credit – $200 per calendar year
• CLEAR Plus – $189 per year
• Gobal Entry Credit
• Streaming / Walmart+ / Saks / Equinox credits (more detail on each)
• Select hotel status

Charles Schwab Platinum Offer Details

Now that we know what makes the Charles Schwab Platinum unique, we should dive into this all time high offer. It is as follows:

• Earn 125,000 Membership Rewards^® points after you spend $8,000 or more in eligible purchases on your Platinum Card^® from American Express Exclusively for Charles Schwab within the first 6 months of Platinum Card Membership starting from the date that your account is opened.
  • Offer ends 1/8/25.
• Annual Fee: $695
• DIRECT LINK

My Thoughts On The Increased Charles Schwab Platinum Offer

This all time high Charles Schwab Platinum offer is a bit lower than what is available via referral for the original Amex Platinum card. It is still possible to get 150,000 points with that card, or 25,000 points better. If you plan on holding the Amex Platinum long term then it may be worth skipping the additional 25K in points and grab the Charles Schwab version for the additional perks it offers.

Remember The Pesky Family Rules

It should also be noted again that grabbing any versions of The Platinum Card by American Express would make you ineligible for the Amex Green or Amex Gold card. That is because of their family rules across all Membership Rewards earning personal cards. It would be best to wait on applying until you have had those cards first. These are all over Chase 5/24 cards too.

Should You Chase The Triple Dip?

You may also want to wait until closer to the end of the year to apply. Since the offer is not set to end until January 2025, you could still pull off the triple dip. There is a risk they pull the offer early, but I think that is unlikely since they already posted the date.

To be fair, if you plan on keeping the card long term then the triple dip doesn't matter. This could be an option for the card if you have already had a Platinum card before though and would like the options that the Charles Schwab card offers.

Three Versions Of The Amex Platinum: ToP Thoughts

While the increased Charles Schwab Platinum offer is pretty great, it doesn't mean it is necessarily right for you. It may be too early in your American Express journey (ie. family rules), you could still be under Chase 5/24 and there is a better offer out there for the Amex Platinum card. You need to take some time and work through the topics I went over above and then decide if this card fits your needs. Even then, it might be best to cool your jets a few weeks to pull off the triple dip if it isn't in your long term plans.

Let me know if you are excited for the increased Charles Schwab Platinum offer over in the ToP Facebook Group.

HT DDG