NEW YORK — American Express has 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 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.
- 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. 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.
“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—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.