- Target Bonus: 60,000 Membership Rewards Points
- Current Bonus: 60,000 Membership Rewards Points
- You do need a Schwab bank account and brokerage account, which is easy but requires a separate hard pull of your credit. There is no fee for opening an account and Schwab’s bank account waives ATM fees anywhere in the world.
- You can earn an extra $100 bonus if you have $250,000 in assets at Schwab or $200 extra bonus if you have greater than $1 million.
Annual Fee: $550
Earning Membership Rewards Points
- 5x Membership Rewards points on flights booked directly with an airline, flights or hotels booked on AmexTravel.com, and hotels booked using the Fine Hotels and Resorts program.
- 1x Membership Rewards points everywhere else
Platinum Card Benefits
One unique benefit of the Schwab Platinum is that the card allows you to transfer Membership Rewards points to Schwab at a rate of 1.25 cents per point. (I personally am not a fan of transferring points at this rate to Schwab and would rather transfer to an airline to get a lot more value. But a lot of people love this special feature as a super easy way to cash out points)
Below is a general overview of the benefits.
- $200 Airline Credit (for upgrades, bag fees, etc.)
- $200 Uber credit ($15 per month January to November; $35 in December)
- Uber VIP Status
- $100 Saks credit ($50 in January to June; $50 July to December)
- Airport Lounge Access
- American Express Centurion Lounges
- Delta SkyClub (when flying Delta)
- Escape Lounges
- Airspace Lounges
- Priority Pass (airport lounge access and $25-28 dining credit per person at certain airport restaurants)
- Global Entry or TSA PreCheck credit (authorized users get this benefit as well)
- Elite Status: Marriott Gold, Hilton Gold, Avis Preferred, Hertz 5-Star, National Emerald Club Executive
- Travel Collection Membership
- Medical Evacuation Insurance
- Secondary Rental Car Insurance
- Roadside Assitance
- 90-day price protection
- Extended Warranty
- No Foreign Transactions
Authorized User Fee
- $175 total for 3 people (Authorized users get all of the benefits, including Priority Pass and airport lounge access, except for the Airline, Uber, and Saks fee credits)
- Free Gold cards (up to 99 authorized users), but Gold cards have limited benefits. Gold cards get the 5x on categories below plus the Global Entry and TSA PreCheck credit, but Gold cards don’t get Priority Pass, other fee credits, or any airport lounge access.