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American Express Platinum Card® for Schwab review

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Deposit membership rewards points directly to your Schwab account.

  • Get this card if you have a Schwab investor account and you want to directly deposit rewards there.
  • Pick something else if you want an intro APR period or if you want to carry your balance.
  • Apply with a good to an excellent credit score of 700 or higher.


Points as welcome offer

Up to 5x



Annual fee

15.99% to 22.99%

Purchase APR (variable)


Annual fee$550
Welcome Offer60,000 points after spending $5,000 in your first 3 months
Rewards5x points on directly booked flights or flights and hotels on Amex Travel and 1x points on all other purchases
Purchase APR15.99% to 22.99% variable
Balance transfer APRN/A
Recommended minimum credit score700
IssuerAmerican Express

Review by

Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

The American Express Platinum Card® for Schwab is the same as the The Platinum Card® from American Express with one difference — the American Express Platinum Card® for Schwab allows you to deposit redeemed rewards points to your eligible Schwab account. For this reason, the card is great for those who want all the perks and benefits of a The Platinum Card® from American Express but also want to deposit their rewards.

Note that you can only apply for the card if you own an eligible Schwab account.

How to apply for the American Express Platinum Card® for Schwab

  1. Open an eligible Schwab account.
  2. Visit the Charles Schwab website and locate the American Express Platinum Card® for Schwab.
  3. Click Apply now.
  4. Log in to your Schwab account and fill out the application form.
  5. Review the form and submit.

What credit score do I need?

You need a good to an excellent credit score of 700 or higher to increase your chances of approval.

Card benefits

  • Signup bonus. Earn 60,000 membership rewards points once you spend $5,000 with your card in the first 3 months of account opening. As of this writing, that’s $750 worth of deposit to your eligible Schwab account.
  • Reward points. You earn 1x point on all purchases made with your card and 5x points on flights booked directly or with and 5x points on prepaid hotels booked on
  • Schwab bonus. Get $100 or $200 statement credit when you open your account, and then every year following your card anniversary when your qualifying Schwab holdings are equal to or greater than $250,000 or $1,000,000 respectively.
  • Airline fee credit. Enroll in this perk and choose a qualifying airline and get $200 airline credit for incidental fees, such as checked bags and in-flight food and beverages.
  • American Express Global Lounge Collection. Get access to more than 1,200 airport lounges worldwide, including the Centurion Lounge, the International American Express lounges, Delta Sky Club and Priority Pass Select lounges. You’ll need to enroll in these lounges first to gain access.

What to watch out for

  • Eligibility. You can only apply for the card if you have an eligible Schwab account.
  • Annual fee. Expect to pay a $550 annual fee for the card and its benefits.
  • Can’t carry a balance. You’ll need to pay your balance in full when due. If need to carry a balance, this may not be a good card for you.

Compare premium credit cards

Name Product Welcome offer Rewards Annual fee Filter values
American Express® Gold Card
60,000 points after spending $4,000 in the first 6 months
4x at restaurants including delivery and Uber Eats; 4x at US supermarkets on up to $25,000 annually (then 1x points), 3x points on directly-booked flights and 1x points on all other purchases

Rose Gold is back

Earn up to 4x points on select purchases, a bevy of travel perks, and a welcome offer worth up to $600 based on our valuation with this upper-mid tier travel card. Terms apply, see rates & fees
Marriott Bonvoy Brilliant™ American Express® Card
75,000 points after spending $3,000 in the first 3 months. Plus, earn up to $200 in statement credits for eligible purchases at US restaurants within the first 6 months
6x points at Marriott Bonvoy hotels, 3x at US restaurants and on flights booked directly with airlines and 2x for all other purchases
Earn 75,000 bonus points when you spend $3,000 or more within your first 3 months. Terms apply, see rates & fees
Chase Sapphire Reserve®
60,000 points after spending $4,000 in the first 3 months, a value of up to $900 through Chase Ultimate Rewards.
10x points on Lyft rides, 3x points on dining and travel after earning your $300 travel credit and 1x points on all other purchases
Earn a huge signup bonus worth $900 toward travel when redeemed through Chase Ultimate Rewards with Chase’s premier card.

Compare up to 4 providers

Bottom line

Schwab investors wanting Amex Platinum perks and benefits and a way to deposit credit card rewards into an eligible Schwab account may find this card valuable.

But if you don’t find this card appealing to your situation, compare other credit cards until you find the perfect fit for your wallet.

Frequently asked questions

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