The Platinum Card from American Express Exclusively for Charles Schwab
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Affiliate link, we may earn a commission. Terms, rates, and sign-up bonuses are set by the issuer and can change. See the issuer site and our advertiser disclosure.
View OfferEarn up to 80,000 Membership Rewards bonus points after spending $8,000 in eligible purchases on the new Card in the first 6 months of Card Membership (current Schwab-channel public offer; valued at approximately $1,440 at Amex MR transfer-partner valuations of ~1.8c/point or $880 at the Schwab 1.1 cents-per-point Invest with Rewards rate; welcome offers vary and you may not be eligible).
Benefits and fees last verified May 2026against the issuer's published terms.
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.
Earning Rates
At a glance
- Invest with Rewards 1.1c/pt into Schwab
- Centurion + Priority Pass + Delta Sky Club
- 5X flights, 5X prepaid hotels
- $1,500+ in annual credits
Important considerations
- Annual fee to offset
This card carries a $895 annual fee. Make sure the credits and bonus categories you will actually use are worth more than that every year.
- High spend to earn the bonus
You must spend $8,000 within 6 months to earn the welcome bonus, which can be a stretch for lighter spenders.
Based on this card's terms last verified May 2026.
Earning rates
2- 5xflights
5X Membership Rewards on flights booked directly or through Amex Travel (capped at $500K in flight purchases per calendar year)
- 5xlodging
5X Membership Rewards on prepaid hotels booked through AmexTravel.com
Statement credits
11- $200Up to $200 annual airline incidental fee credit on one preselected qualifying airline
- $200Up to $200 annual Uber Cash credit ($15/mo Jan-Nov, $35 Dec)
- $200Up to $200 annual hotel credit on Fine Hotels + Resorts and The Hotel Collection prepaid bookings (legacy pre-refresh structure on Schwab cobrand)
- $240Up to $240 annual Digital Entertainment credit (Disney+, Hulu, ESPN+, NYT, Peacock, WSJ
Up to $240 annual Digital Entertainment credit (Disney+, Hulu, ESPN+, NYT, Peacock, WSJ; legacy pre-refresh list)
- $300Up to $300 annual Equinox credit
- $189Up to $189 annual CLEAR Plus credit (legacy pre-refresh figure
Up to $189 annual CLEAR Plus credit (legacy pre-refresh figure; new Personal Platinum is up to $209)
- $200Up to $200 annual Saks Fifth Avenue credit (being retired July 1, 2026)
- $155Up to $155 annual Walmart+ credit
- $120Up to $120 every 4 years Global Entry application credit or up to $85 every 4
Up to $120 every 4 years Global Entry application credit or up to $85 every 4.5 years TSA PreCheck credit
- $100The Hotel Collection
The Hotel Collection: $100 on-property credit + room upgrade when available on 2+ night bookings via AmexTravel.com
- $5,000Decision framework
Decision framework: better than Personal Platinum for Schwab brokerage customers who redeem a meaningful portion of MR points for cash-equivalent value (1.1c vs 0.6c statement credit = roughly $5,000 in additional value per 1M points redeemed)
Perks & memberships
7- RedemptionInvest with Rewards: redeem Membership Rewards points into an eligible Charles Schwab brokerage account at 1.1 cents per point (the highest fixed-value cash-equivalent MR redemption available; 100,000 MR = $1,100 deposited into your Schwab brokerage)
- Lounge accessAmerican Express Global Lounge Collection access (Centurion Lounge, Priority Pass Select, 10 Delta Sky Club visits/year, Escape Lounges, Plaza Premium)
- Hotel benefitFine Hotels + Resorts: breakfast for two, noon check-in, 4pm late checkout, room upgrade when available, $100 on-property amenity at 2,300+ properties
- Elite statusHilton Honors Gold elite status (enrollment required)
- Elite statusMarriott Bonvoy Gold Elite status (enrollment required)
- No foreign feesNo foreign transaction fees; Platinum Concierge; By Invitation Only events
- RedemptionSchwab redemption rate history: cut from 1.25 cents per point to 1.1 cents per point in March 2022, future cuts cannot be ruled out
Travel & purchase protections
6- Trip cancellation/interruption insurance up to $10K/trip and $20K/account per 12 months
- Trip delay insurance up to $500 per covered trip (6+ hours, max 2 trips per 12 months)
- Baggage insurance up to $2K checked/$3K carry-on per person per trip
- Cell phone protection up to $800 per claim, $50 deductible, 2 claims per 12 months
- Purchase protection up to $10K per occurrence, $50K per account per calendar year
- Extended warranty +1 year on warranties of 5 years or less
More benefits & fine print (2)ShowHide
- Schwab eligibility required: must have an eligible Charles Schwab brokerage account at the time of application
- 1X on everything else
Before you decide, weigh alternatives
Lower-fee cards in the same category. A cheaper card can be the better fit if you will not use enough perks to earn back a bigger fee.
How we verified this card (3 sources)ShowHide
Spotted something off? Report an issue. Read our verification methodology.
Transfer Partners
Full guide →Amex Membership Rewards points transfer to these loyalty programs. Or start from your balance and see what a points balance can book:
How to Earn the Bonus
Spend $8,000 in the first 6 months to earn the Up to 80,000 Membership Rewards points bonus.
See the Current Offer
Earn Up to 80,000 Membership Rewards points
View OfferAffiliate link, we may earn a commission. Terms, rates, and sign-up bonuses are set by the issuer and can change. See the issuer site and our advertiser disclosure.
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