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The Platinum Card from American Express Exclusively for Charles Schwab vs Southwest Rapid Rewards Plus

Both are travel travel cards. The The Platinum Card from American Express Exclusively for Charles Schwab comes from American Express at $695/yr; the Southwest Rapid Rewards Plus from Chase at $99/yr. Below: side-by-side specs, an opinionated verdict, and the FAQs people actually ask before applying.

Bottom line

For most people the The Platinum Card from American Express Exclusively for Charles Schwab is the stronger pick today, the sign-up bonus is meaningfully larger ($1,440 more in estimated value) than the Southwest Rapid Rewards Plus's. Get the The Platinum Card from American Express Exclusively for Charles Schwab first; revisit the Southwest Rapid Rewards Plus after you've earned that bonus.

FeatureThe Platinum Card from American Express Exclusively for Charles SchwabSouthwest Rapid Rewards Plus
Annual fee$695$99
Sign-up bonusUp to 80,000 Membership Rewards points50,000 bonus points
Bonus value (est.)$1,440-
Min spend to unlock bonus$8,000 in 6 mo$1,000 in 3 mo
IssuerAmerican ExpressChase
Card categorytraveltravel
Best earning category (Flights_direct_or_amextravel)5x1x
Transfer partnersamex-mrNone
Headline benefits
  • Invest with Rewards 1.1c/pt into Schwab
  • Centurion + Priority Pass + Delta Sky Club
  • 5X flights, 5X prepaid hotels
  • $1,500+ in annual credits
  • $99 fee (post-2025 refresh)
  • 3k anniversary points
  • Free first checked bag
  • Companion Pass qualifying
Read the full review
The Platinum Card from American Express Exclusively for Charles Schwab
$695/yr · Up to 80,000 Membership Rewards points
Read the full review
Southwest Rapid Rewards Plus
$99/yr · 50,000 bonus points

Editorial take: The Platinum Card from American Express Exclusively for Charles Schwab

The premium Platinum for Schwab brokerage customers. Same lounge access, FHR, and credit suite as the Personal Platinum, but the killer feature is Invest with Rewards at 1.1 cents per point cash-into-brokerage — the highest fixed-value MR redemption in the program. Best for cardholders who don't max out airline transfer partners.

Editorial take: Southwest Rapid Rewards Plus

The entry-level Southwest card after the 2025 refresh raised the fee to $99. Worth it primarily if you're chasing the Companion Pass; the Priority card delivers more value if you fly Southwest 2+ times per year.

Common questions

Which card has the bigger sign-up bonus, The Platinum Card from American Express Exclusively for Charles Schwab or Southwest Rapid Rewards Plus?
The The Platinum Card from American Express Exclusively for Charles Schwab has a public bonus (Up to 80,000 Membership Rewards points, worth roughly $1,440), while the Southwest Rapid Rewards Plus doesn't advertise one right now.
Is the The Platinum Card from American Express Exclusively for Charles Schwab's $695 annual fee worth it compared to the Southwest Rapid Rewards Plus?
Premium cards like the The Platinum Card from American Express Exclusively for Charles Schwab ($695/yr) earn their fee through credits, travel, dining, lounge access, statement reimbursements. If you'd actively use $695+ of those credits, the math works. The Southwest Rapid Rewards Plus at $99/yr trades some perks for a lower commitment.
Can I have both the The Platinum Card from American Express Exclusively for Charles Schwab and Southwest Rapid Rewards Plus?
Yes, since they're from different issuers (American Express and Chase) the application rules don't conflict. 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 The Platinum Card from American Express Exclusively for Charles Schwab or the Southwest Rapid Rewards Plus first?
Get the one whose sign-up bonus you can hit comfortably without overspending. The Platinum Card from American Express Exclusively for Charles Schwab: $8,000 spend in 6 months. Southwest Rapid Rewards Plus: $1,000 in 3 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.