Schwab Investor Card® from American Express

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Schwab Investor Card® from American Express

FM Mini Review: The Schwab Investor card offers a decent return via the intro offer, but it isn't very rewarding for ongoing spend.


Card Type: Amex Credit Card

Base
1.5%

Earning rate: 1.5% on all eligible purchases

Noteworthy perks: Cash back is automatically deposited into your eligible Schwab account.

Application Tips


Amex Application Tips



  • Safe to Apply: Amex is the safest bank for trying your luck at a new welcome bonus. They don’t usually issue a hard pull when denying your application. Plus, they’ll now warn you during the application process if you’re not eligible for the bonus.

  • Lifetime Rule: If you've ever had the same card before, you are most likely prohibited from getting a welcome bonus for the card if you apply now. Fortunately you'll be warned during the application process if this is the case. Amex is known to "forget" that you've had a card after about 7 years.

  • 5/90 Rule: In general, you can get at most one credit card within 5 days and 2 within 90 days. The 5 day limit is not enforced when your applications are automatically approved. Neither rule is enforced for charge cards.

  • 5 credit card max:Amex usually won't approve applications for new credit cards if you already have 4 or more Amex credit cards or 10 or more charge cards.

  • Better Offers: You may be able to get a better offer than the best available public offer. Details here.

  • Hard inquiries combine into 1 when approved same day


Check application status here.
If denied, call reconsideration: 877-399-3083 (new accountholders); 866-314-0237 (current accountholders)


How to Meet Spend Requirements

In order to meet minimum spend requirements, people often look for options to increase spend in ways that result in getting their money back. These techniques are referred to as "manufacturing spend". American Express has terms in their welcome offers that exclude some manufactured spend techniques from counting towards the minimum spend requirements for the welcome bonus. For example, most new cardmember bonuses have terms like this:
Eligible purchases to meet the Threshold Amount do NOT include fees or interest charges, purchases of travelers checks, purchases or reloading of prepaid cards, purchases of gift cards, person-to-person payments, or purchases of other cash equivalents.
That said, many techniques for meeting minimum spend are perfectly fine. Here are some techniques that are safe for meeting Amex minimum spend requirements (click each link for more information):

Related Cards (Amex cash back cards)

Blue Cash Preferred® Card from American Express
$300 Back
Limited-time offer: $300 cash back as a statement credit after $3K in the first 6 months. Terms Apply. (Rates & Fees)
(Offer Expires 12/10/2020)

No Annual Fee First Year, Then $95

Recent better offer: Up to $350: 10% cash back on purchases at U.S. Restaurants in the first 6 months, up to $200 back. Plus, earn $150 back after $1K spend in 3 months. (Expired 5/3/17)

The Plum Card® from American Express
Up to $600
Earn a $200 statement credit after each $10,000 you spend on the card, up to $30,000, in the first 3 months of Card Membership. Terms Apply. (Rates & Fees)

No Annual Fee First Year, Then $250

American Express Blue Business Cash™ Card
Up to $300 in statement credits
Up to $300 in statement credits: Earn up to $100 in statement credits for purchases made in the first 3 months at each of these merchants: Dell, DocuSign, and FedEx. Terms apply. (Rates & Fees)

No Annual Fee

Recent better offer: Up to $500 in statement credits: Earn a $250 statement credit after $5K in purchases in the first 6 months and an additional $250 statement credit after an additional $10K in purchases in the first year. [Expired 8/6/20]