Free during beta. Plus launches at $12/mo or $99/yr on July 1. Annual is locked for 12 months during beta.
Both are well-respected travel cards. The The Platinum Card from American Express Exclusively for Charles Schwab comes from American Express at $695/yr; the PenFed Platinum Rewards Visa Signature Card from PenFed at $0/yr. Below: side-by-side specs, an opinionated verdict, and the FAQs people actually ask before applying.
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 ($1,312 more in estimated value) than the PenFed Platinum Rewards Visa Signature Card's. Get the The Platinum Card from American Express Exclusively for Charles Schwab first; revisit the PenFed Platinum Rewards Visa Signature Card after you've earned that bonus.
| Feature | The Platinum Card from American Express Exclusively for Charles Schwab | PenFed Platinum Rewards Visa Signature Card |
|---|---|---|
| Annual fee | $695 | $0 |
| Sign-up bonus | Up to 80,000 Membership Rewards points | 15,000 bonus points after $1,500 spend in 90 days |
| Bonus value (est.) | $1,440 | $128 |
| Min spend to unlock bonus | $8,000 in 6 mo | $1,500 in 3 mo |
| Issuer | American Express | PenFed |
| Card category | travel | cashback |
| Best earning category (Flights_direct_or_amextravel) | 5x | 1x |
| Transfer partners | amex-mr | None |
| Headline benefits |
|
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.
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.
