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Side-by-side

American Express Schwab Investor Card vs Discover it Miles

Both are travel travel cards. The American Express Schwab Investor Card comes from American Express at $0/yr; the Discover it Miles from Discover 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 CardDiscover it Miles
Annual fee$0$0
Sign-up bonus10,000 Membership Rewards pointsUnlimited Miles Match (entire first-year miles doubled)
Bonus value (est.)$110$450
Min spend to unlock bonus$1,000 in 6 mo$0 in 12 mo
IssuerAmerican ExpressDiscover
Card categorytraveltravel
Best earning category (All_purchases)1.5x1.5x
Transfer partnersamex-mrNone
Headline benefits
  • 1.5X MR on everything
  • $0 annual fee
  • 1.0c/pt Invest with Rewards
  • Full MR transfer partners
  • 1.5x everywhere
  • First-year match = 3x
  • No annual fee
  • No foreign tx fees
Read the full review
American Express Schwab Investor Card
$0/yr · 10,000 Membership Rewards points
Read the full review
Discover it Miles
$0/yr · Unlimited Miles Match (entire first-year miles doubled)

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: Discover it Miles

A rare card that effectively earns 3x in year one (1.5x + match). Miles aren't transferable, but the simplicity + first-year match make this a strong starter travel card.

Common questions

Which card has the bigger sign-up bonus, American Express Schwab Investor Card or Discover it Miles?
The Discover it Miles has the bigger bonus, Unlimited Miles Match (entire first-year miles doubled), worth roughly $450, 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 Discover it Miles?
The American Express Schwab Investor Card has no annual fee, so the question is whether the Discover it Miles's $0 fee is justified by its perks. If you'll use enough of the Discover it Miles'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 Discover it Miles?
Yes, since they're from different issuers (American Express and Discover) 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 Discover it Miles 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. Discover it Miles: $0 in 12 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.