American Express Schwab Investor Card vs USAA Preferred Cash Rewards

Common questions

Which card has the bigger sign-up bonus, American Express Schwab Investor Card or USAA Preferred Cash Rewards?

The USAA Preferred Cash Rewards has the bigger bonus, $250 cash bonus, worth roughly $250, 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 USAA Preferred Cash Rewards?

The American Express Schwab Investor Card has no annual fee, so the question is whether the USAA Preferred Cash Rewards's $0 fee is justified by its perks. If you'll use enough of the USAA Preferred Cash Rewards'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 USAA Preferred Cash Rewards?

Yes, since they're from different issuers (American Express and USAA) 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 USAA Preferred Cash Rewards 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. USAA Preferred Cash Rewards: $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.