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Delta SkyMiles Reserve Amex vs American Express Schwab Investor Card

Both are travel travel cards. The Delta SkyMiles Reserve Amex comes from American Express at $650/yr; the American Express Schwab Investor Card from American Express at $0/yr. Below: side-by-side specs, an opinionated verdict, and the FAQs people actually ask before applying.

Bottom line

Both cards come from American Express and target travel spenders, so the choice usually comes down to whether you'll use the premium-tier benefits. The Delta SkyMiles Reserve Amex costs $650 more per year, only worth it if you'll actually use the upgraded perks.

FeatureDelta SkyMiles Reserve AmexAmerican Express Schwab Investor Card
Annual fee$650$0
Sign-up bonus100,000 miles10,000 Membership Rewards points
Bonus value (est.)$1,100$110
Min spend to unlock bonus-$1,000 in 6 mo
IssuerAmerican ExpressAmerican Express
Card categorytraveltravel
Best earning category (Travel)3x1x
Transfer partnersNoneamex-mr
Headline benefits
  • SkyClub access
  • First/Comfort+ companion cert
  • 100k miles bonus
  • Centurion access
  • 1.5X MR on everything
  • $0 annual fee
  • 1.0c/pt Invest with Rewards
  • Full MR transfer partners
Read the full review
Delta SkyMiles Reserve Amex
$650/yr · 100,000 miles
Read the full review
American Express Schwab Investor Card
$0/yr · 10,000 Membership Rewards points

Editorial take: Delta SkyMiles Reserve Amex

Only worthwhile if you actually use Delta SkyClubs, the access alone is worth the fee for frequent Delta flyers. The upgraded companion cert (can be used on First/Comfort+) is a big perk over the standard Platinum version.

Editorial take: American Express Schwab Investor Card

The hidden gem of the Amex MR lineup for Schwab brokerage customers. Flat 1.5X MR with $0 annual fee, full transfer-partner access, AND a 1.0 cents-per-point cash-into-brokerage redemption guarantees you can always extract real cash. The catch: you need a Schwab brokerage account to apply.

Common questions

Which card has the bigger sign-up bonus, Delta SkyMiles Reserve Amex or American Express Schwab Investor Card?
The Delta SkyMiles Reserve Amex has the bigger bonus, 100,000 miles, worth roughly $1,100, versus 10,000 Membership Rewards points (~$110) on the American Express Schwab Investor Card.
Is the Delta SkyMiles Reserve Amex's $650 annual fee worth it compared to the American Express Schwab Investor Card?
Premium cards like the Delta SkyMiles Reserve Amex ($650/yr) earn their fee through credits, travel, dining, lounge access, statement reimbursements. If you'd actively use $650+ of those credits, the math works. The American Express Schwab Investor Card at $0/yr trades some perks for a lower commitment.
Can I have both the Delta SkyMiles Reserve Amex and American Express Schwab Investor Card?
Yes, though both are issued by American Express so the same issuer-specific application rules apply (Chase 5/24 if applicable, Amex once-per-lifetime bonus, etc.). Many points enthusiasts hold both, they pair well when one earns flexible bank points and the other earns a different currency.
Should I get the Delta SkyMiles Reserve Amex or the American Express Schwab Investor Card first?
Get the one whose sign-up bonus you can hit comfortably without overspending. Delta SkyMiles Reserve Amex: no published min spend. American Express Schwab Investor Card: $1,000 in 6 months. Pick the easier minimum spend if you're new to points; pick the larger bonus if you have planned big purchases coming up.

Card details on this page reflect the most recent data we've verified against the issuer's own site. Sign-up bonuses and fees can change at any time, confirm the current offer on the issuer's page before applying.