Schwab Investor Card® from American Express review
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.
Up to 1.5%
Intro purchase APR
for the first 6 months (then 13.99% to 16.99% variable)
|Product Name||Schwab Investor Card® from American Express|
|Card type||American Express|
|Purchase APR||0% intro for the first 6 months (then 13.99% to 16.99% variable)|
|Balance transfer APR||0% 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 rate||25.24% variable|
|Penalty APR||29.24% variable|
|Foreign transaction fee||2.7% of the transaction value|
|Interest free period||Up to 25 days|
|Late payment fee||Up to $40|
|Returned payment fee||Up to $40|
|Rates & fees||rates & fees|
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.
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.
- 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
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.
How to apply for the Schwab Investor Card® from American Express
- Open an eligible Schwab account.
- Visit the Charles Scwab website and locate the Schwab Investor Card® from American Express.
- Click Apply Now.
- Log in to your Schwab account and fill out the application form.
- 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.
Compare cashback credit cards
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.