Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Schwab Investor Card® from American Express review

Last updated:  

Earn cash back and deposit it directly to your Schwab account.

  • Get this card if you have a Schwab investor account and you want to earn cash back.
  • Pick something else if you want accelerated cash back on specific categories.
  • Apply with a good to an excellent credit score of 670 or higher.

$200

Welcome offer

Up to 1.5%

Cash back

$0

Annual fee

0%

Intro purchase APR

for the first 6 months (then 13.99% to 16.99% variable)

Details

Product NameSchwab Investor Card® from American Express
Card typeAmerican Express
Annual fee$0
Purchase APR0% intro for the first 6 months (then 13.99% to 16.99% variable)
Balance transfer APR0% intro for the first 6 months (then 13.99% to 16.99% variable)
Balance transfer fee$5 or 3% of the transaction, whichever is greater
Cash advance rate25.24% variable
Penalty APR29.24% variable
Foreign transaction fee2.7% of the transaction value
Interest free periodUp to 25 days
Late payment feeUp to $40
Returned payment feeUp to $40
Rates & feesrates & fees

Expert review

Kliment Dukovski

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

This can be an excellent cashback card for Schwab investors who want their rewards automatically transferred to their eligible Schwab accounts. However, if you don’t have an eligible Schwab account, you can’t apply for this card.

How to apply for the Schwab Investor Card® from American Express

  1. Open an eligible Schwab account.
  2. Visit the Charles Scwab website and locate the Schwab Investor Card® from American Express.
  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 670 or higher to increase your chances of approval.

Card benefits

  • Signup bonus.
    Earn $200 statement credit once you spend $2,000 with your card in the first 3 months of account opening.
  • Cash back.
    Earn unlimited 1.5% cash back on all of your purchases. The cash back is automatically deposited into your eligible Schwab account.
  • Intro APR period.
    Enjoy 0% intro APR period on purchases and balance transfers for the first 6 months of card membership. After that, a variable APR of 13.99% to 16.99% applies.
  • No annual fee.
    You get all these benefits without paying an annual fee for the card.

What to watch out for

  • Eligibility.
    To apply for the card, you must have an eligible Schwab account.
  • Balance transfer limitations.
    To use the intro APR period, you must request your balance transfers within your first 60 days of card membership. Also, the total amount you want to be transferred cannot exceed $7,500 or 75% of your credit line, whichever is lower.
  • Loss of intro APR.
    If you don’t make your minimum payment in 60 days, you will lose your intro APR period and you will incur a penalty APR of 29.24% variable.
  • Foreign transaction fee.
    This may not be a good card for traveling abroad as you’ll incur a 2.7% fee of the amount of each transaction you make.

Compare cashback credit cards

Name Product Welcome offer Rewards Annual fee Filter values
Blue Cash Preferred® Card from American Express
$300 after spending $3,000 in the first 6 months (Offer expires 12/10/2020)
6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on all other purchases
$0 intro annual fee for the first year ($95 thereafter)
Perfect for families: Get up to 6% on everyday purchases and a welcome offer worth $300. This heavy-hitter rewards card has uncontested value. Rates & fees
Blue Cash Everyday® Card from American Express
20% at Amazon.com up to $200 back in the first 6 months, plus $100 after spending $1,000 in the same timeframe
20% at Amazon.com up to $200 back in the first 6 months, 2% at US gas stations and select US department stores, 3% at US supermarkets on up to $6,000 per year, then 1% after that and on all other purchases
$0
This everyday cashback card is ideal for Black Friday and holiday shopping with 20% back at Amazon.com up to $200 back in the first 6 months. Rates & fees
Chase Freedom Flex℠
$200 after spending $500 in the first 3 months, plus 5% cash back at grocery stores on up to $12,000 in the first year
5% back in rotating categories up to $1,500 combined each activated quarter (then 1%), 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases
$0
Get up to 5% cashback in rotating and newly added everyday categories. The refreshed Freedom Flex card has lots of earning potential.
Citi® Double Cash Card
N/A
Up to 2% cash back on purchases (1% when you buy plus 1% as you pay)
$0
Earn up to 2% on every purchase with no annual fee. This is the highest flat-rate cashback card on the market.
Chase Freedom Unlimited®
$200 after spending $500 in the first 3 months, plus 5% cash back at grocery stores on up to $12,000 in the first year
5% cash back on travel purchased through Chase, 5% on Lyft, 3% on dining and drugstores and 1.5% on all other purchases
$0
This solid 1.5% cashback card gets even better with the addition of up to 5% back in categories like travel, drug stores and dining.
loading

Compare up to 4 providers

Bottom line

If you’re a Schwab investor looking for an easy way to deposit rewards to your account, the Schwab Investor Card® from American Express could be worth considering. In addition to earning unlimited cash back on all your purchases, you get an intro APR period on purchases and balance transfers.

However, if you think there could be a better option for you, compare other credit cards to find what you’re looking for.

Frequently asked questions

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
Go to site