A lesser known card within the American Express system. In my opinion, this card is many times better than the Vanilla Platinum card, or the regular one. It has more benefits without removing any existing benefits from the Vanilla Platinum card.

The most popular benefit is that the Charles Schwab Platinum card allows you to convert your Amex MR points to cash at a rate of 1.25 cents-per-point(cpp). This takes some of the category spend in the Amex ecosystem to another level. For example:

Groceries (Gold): 4 MR points —> 5 MR points

Dining (Gold): 4 MR points —> 5 MR points

Travel (Green): 3 MR points —> 3.75 MR points

Uncategorized (Blue Business Plus): 2 MR points —> 2.5 MR points

Sign-Up Bonus

The SUB for this card is pretty set at 60000 MR points after $5000 spend in 3 months. It is possible to get a 100000 MR point offer but that is usually very targeted. Because of this, many argue when it is time cash out your points, it is worthwhile to just go ahead and get the card rather than waiting it out for the extra 40000 points.


Another benefit that this card provides is another way to lower the annual fee of $550. If you have over $250,000 with Schwab, you get a $100 credit, or if you have over $1,000,000 with them, you get a $200 credit, every year. This may seem like a lot especially the $1,000,000 mark, but the $250,000 mark is definitely attainable after a decade or so of investing.

On top of these added benefits, you will still get the $100/year to Saks Fifth Avenue and, you will still get the $200/year to Uber. The insurance and protections still stand pat. For all these reasons, I would easily put this card above the Vanilla Platinum card. The ONLY slight disadvantage is that there are no referral links that can be used to get more points, but aside from that, there is no reason, in my opinion, to not get the Schwab Platinum card. But until next time…

We appreciate y’all for letting us be a part of your Break Time.

Checking out, Kenny

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