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Side-by-side

American Express Schwab Investor Card vs Citi Custom Cash

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

Bottom line

These cards are close on the fundamentals (similar bonus value, similar fee). The right pick depends on which category you spend the most in and which transfer partners best fit your travel goals.

FeatureAmerican Express Schwab Investor CardCiti Custom Cash
Annual fee$0$0
Sign-up bonus10,000 Membership Rewards points$200 cash back
Bonus value (est.)$110$200
Min spend to unlock bonus$1,000 in 6 mo$1,500 in 6 mo
IssuerAmerican ExpressCiti
Card categorytravelcashback
Best earning category (All_purchases)1.5x1x
Transfer partnersamex-mrciti-ty
Headline benefits
  • 1.5X MR on everything
  • $0 annual fee
  • 1.0c/pt Invest with Rewards
  • Full MR transfer partners
  • 5% on top category
  • Auto-selected monthly
  • No annual fee
  • Convert to TY Points
Read the full review
American Express Schwab Investor Card
$0/yr · 10,000 Membership Rewards points
Read the full review
Citi Custom Cash
$0/yr · $200 cash back

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: Citi Custom Cash

Genuinely clever. 5% on whichever category you spent most on each month, capped at $500/month. Earns $25/month = $300/year effortlessly. Pairs with Premier to convert to transferable ThankYou Points.

Common questions

Which card has the bigger sign-up bonus, American Express Schwab Investor Card or Citi Custom Cash?
The Citi Custom Cash has the bigger bonus, $200 cash back, worth roughly $200, 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 Citi Custom Cash?
The American Express Schwab Investor Card has no annual fee, so the question is whether the Citi Custom Cash's $0 fee is justified by its perks. If you'll use enough of the Citi Custom Cash's benefits to clear $0 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 Citi Custom Cash?
Yes, since they're from different issuers (American Express and Citi) 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 Citi Custom Cash 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. Citi Custom Cash: $1,500 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.