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Side-by-side

American Express Schwab Investor Card vs Bilt Palladium

Both are travel travel cards. The American Express Schwab Investor Card comes from American Express at $0/yr; the Bilt Palladium from Bilt / Cardless at $495/yr. Below: side-by-side specs, an opinionated verdict, and the FAQs people actually ask before applying.

Bottom line

For most people the Bilt Palladium is the stronger pick today, the sign-up bonus is meaningfully larger ($1,015 more in estimated value) than the American Express Schwab Investor Card's. Get the Bilt Palladium first; revisit the American Express Schwab Investor Card after you've earned that bonus.

FeatureAmerican Express Schwab Investor CardBilt Palladium
Annual fee$0$495
Sign-up bonus10,000 Membership Rewards points50,000 Bilt Points + $300 Bilt Cash + Bilt Gold status
Bonus value (est.)$110$1,125
Min spend to unlock bonus$1,000 in 6 mo$4,000 in 3 mo
IssuerAmerican ExpressColumn N.A.
Card categorytraveltravel
Best earning category (All_purchases)1.5x1x
Transfer partnersamex-mrbilt
Headline benefits
  • 1.5X MR on everything
  • $0 annual fee
  • 1.0c/pt Invest with Rewards
  • Full MR transfer partners
  • $400 Bilt Travel hotel credit
  • $200 Bilt Cash every year
  • Priority Pass + 2 guests
  • Flat 2x on everyday spend
Read the full review
American Express Schwab Investor Card
$0/yr · 10,000 Membership Rewards points
Read the full review
Bilt Palladium
$495/yr · 50,000 Bilt Points + $300 Bilt Cash + Bilt Gold status

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.

Editorial take: Bilt Palladium

Bilt 2.0's top tier ($495 AF), launched February 7, 2026 with Column N.A. as issuer and Cardless as servicer. A flat 2x everyday card that stacks $400 of Bilt Travel hotel credit, $200 of Bilt Cash a year, and Priority Pass with 2 guests. It does not have Obsidian's 3x category, so it wins on credits and lounge access rather than on multipliers. For Bilt loyalists who use the hotel credit and the lounges, the math works; for everyone else, Obsidian is plenty.

Common questions

Which card has the bigger sign-up bonus, American Express Schwab Investor Card or Bilt Palladium?
The Bilt Palladium has the bigger bonus, 50,000 Bilt Points + $300 Bilt Cash + Bilt Gold status, worth roughly $1,125, versus 10,000 Membership Rewards points (~$110) on the American Express Schwab Investor Card.
Is the American Express Schwab Investor Card's $0 annual fee worth it compared to the Bilt Palladium?
The American Express Schwab Investor Card has no annual fee, so the question is whether the Bilt Palladium's $495 fee is justified by its perks. If you'll use enough of the Bilt Palladium's benefits to clear $495 in value annually, it's worth it; otherwise stick with the American Express Schwab Investor Card.
Can I have both the American Express Schwab Investor Card and Bilt Palladium?
Yes, since they're from different issuers (American Express and Column N.A.) 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 American Express Schwab Investor Card or the Bilt Palladium first?
Get the one whose sign-up bonus you can hit comfortably without overspending. American Express Schwab Investor Card: $1,000 spend in 6 months. Bilt Palladium: $4,000 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.