Top perks
The American Express Platinum Card® for Schwab has quite a few features, from big bonus offers to ample spending credits.
80,000 bonus points
As a new cardholder, you earn a welcome bonus of 80,000 points for spending $6,000 on purchases in the first 6 months. Terms apply. That many points is more than what many top credit cards offer, so you get quite a bit of upfront value from this card.
Check out more bonuses: Best Sign-Up Bonus Credit Cards
Earn up to 5 points per $1
The American Express Platinum Card® for Schwab earns:
- 5X points on flights booked directly with airlines or with American Express Travel and prepaid hotels booked through American Express Travel, up to a bonus cap of $500,000 in spending per calendar year
- 1X points on all other eligible purchases
- Terms apply.
Airport lounge access
A highlight with every version of The Platinum Card® from American Express is the airport lounge access. It gets you into more lounges than any travel credit card we've seen, and that includes the card issuer's high-end Centurion Lounges. You also get access to Priority Pass lounges (enrollment into this program is required), Delta Sky Clubs, and several additional types of lounges. Terms apply.
See more: Best Credit Cards With Airport Lounge Access
Up to $200 annual statement credit
An exclusive benefit with the American Express Platinum Card® for Schwab is an annual statement credit offer. The amount you receive depends on your qualifying holdings with the broker:
- Receive a $100 statement credit if your qualifying Schwab holdings are equal to or greater than $250,000.
- Receive a $200 statement credit if your qualifying Schwab holdings are equal to or greater than $1 million and less than $10 million.
- Receive a $1,000 statement credit if your qualifying Schwab holding is greater than $10 million.
- Holdings are measured following card account approval and annually thereafter.
- Terms apply
It's not exactly a large credit, considering the amount of cash that's required to get it. But if you have significant holdings with Schwab, you can at least get something extra back.
American Express Membership Rewards program
The American Express Membership Rewards program is one of our favorite credit card rewards programs. That's primarily because of all its transfer partners. American Express has over 20 airline and hotel partners where you can transfer your Membership Rewards points. After that, you can make an awards booking with the partner. Terms apply.
Transfers are normally the best way to use your points, because you can get $0.03 per point or more like this. However, you also have the option of redeeming points at a fixed rate for American Express Travel bookings.
Learn more: A Complete Guide to American Express Membership Rewards Points
Invest your rewards
This card allows you to redeem points directly into any eligible Schwab accounts you have. Rewards have a value of $0.011 per point when redeemed this way. You can use those deposits to purchase investments through Schwab.
Over $1,000 in annual spending credits
You get quite a few different spending credits from this American Express card. Assuming you can use some or all of these annual spending credits, they easily make the card worth getting:
- $200 hotel credit: Receive $200 back in annual statement credits on your prepaid Fine Hotels+ Resorts® and The Hotel Collection bookings with a minimum two-night stay with American Express Travel when you pay with your Platinum Card. Terms apply, enrollment may be required.
- $200 airline fee credit: Select one qualifying airline and you'll get up to $200 in statement credits every calendar year for any incidental fees charged by that airline to your Platinum Card. Terms apply, enrollment required.
- $300 with Equinox: Receive a statement credit of up to $300 each year when paying for select monthly Equinox membership fees or Equinox+ with your Platinum Card. Terms apply, enrollment required.
- $199 CLEAR® credit: Receive a statement credit of up to $199 per year for a CLEAR® membership when you pay with your Platinum Card. Terms apply, enrollment required.
- Up to $100 Global Entry/TSA PreCheck credit: Receive a credit of up to $100 every four years to cover the cost of a Global Entry membership or $85 every 4.5 years to cover the cost of TSA PreCheck. Terms apply, enrollment required.
- $240 digital entertainment credit: Receive a monthly credit of up to $20 when you pay for eligible purchases at one or more of Peacock, The New York Times, or Audible with your Platinum Card. Terms apply, enrollment required.
- $155 Walmart+ credit: Cover the cost of Walmart+ with a monthly membership fee credit of $12.95 plus applicable taxes. Terms apply, enrollment required.
- $100 Saks Fifth Avenue credit: Receive up to $50 in statement credits from January through June and up to $50 more from July through December for purchases at Saks Fifth Avenue or saks.com made with your Platinum Card. Terms apply.
See more: Best Airline Credit Cards
Complimentary elite status with Marriott Bonvoy and Hilton
To improve your stays with two popular hotel chains, this card includes complimentary Marriott Bonvoy™ Gold Elite Status and Hilton Honors Gold Status. Terms apply.
Travel and purchase protections
There are usually plenty of complimentary protections available with American Express cards, and that's the case with this card. It offers the following on eligible purchases:
- Car rental loss and damage insurance
- Trip delay insurance
- Trip cancellation and interruption insurance
- Return protection
- Purchase protection
- Extended warranty coverage
- Terms apply
Platinum Concierge
Your Platinum Concierge can assist you with almost anything you could dream up, from reserving event tickets to finding the right gift for a loved one. Just call the number on the back of your card to use this service. Terms apply.
LEARN MORE: Best Credit Card Concierge Service
No foreign transaction fee
Since this American Express card is designed for frequent travelers, it doesn't charge a foreign transaction fee.