Credit Card News
Two Amex Platinum Variants Now Boast Enhanced Bonuses
A pair of lesser-known American Express Platinum Card alt-versions are now offering increased welcome bonuses.
About the Charles Schwab and Morgan Stanley Amex Platinum Offers:
Currently, both the Charles Schwab and Morgan Stanley American Express Platinum cards are increasing their cardholder welcome offers. Now, new cardmembers can earn 150,000 bonus Membership Rewards points after spending $12,000 on the card within the first six months. Previously, the welcome bonuses for these cards were 80,000 points after $8,000 in spending. Meanwhile, the “vanilla” version of the American Express Platinum card currently offers up to 175,000 points after $12,000 in spending during the first six months. However, this offer is “as high as” 175,000 points, with applicants receiving personalized offers before accepting.
Note that, in order to apply for these cards, customers will need to have an eligible account with the respective brokerages.
While the Schwab and Morgan Stanley versions of the Platinum card include all of the same benefits as the mainline edition, each also includes an exclusive perk. With the Morgan Stanley card, cardmembers can add their first Additional Platinum Card user for free (typically $195). Additionally, cardholders can redeem Membership Rewards points for a deposit to a linked Morgan Stanley or E*Trade brokerage account at a rate of 1¢ per point. As for the Charles Schwab Platinum Card, it similarly allows members to redeem points for deposits to brokerage accounts, although the rate is increased to 1.1¢ per point.
With all American Express Platinum cards, members can earn 5x points on flights booked directly or via Amex Travel, 5x on hotels booked via Amex Travel, and 1x on all other purchases. The cards also feature a variety of credits, including up to $600 per year on Fine Hotels & Resorts/Hotel Collection bookings, up to $300 per year on Lululemon purchases, up to $400 per year for purchases at Resy restaurants, a $300 per year Digital Entertainment Credit, $200 per year in Uber Cash, and more. Plus, cardmembers enjoy access to Centurion Lounges, Delta SkyClubs (when flying Delta), and other lounges that are part of the Priority Pass network. Each version of the Amex Platinum card carries an annual fee of $895.
Currently, these enhanced bonuses for the Charles Schwab and Morgan Stanley American Express Platinum cards are set to expire on July 8th, 2026.
My Thoughts:
Considering that I just applied for the Charles Schwab American Express Platinum card a month ago, you might expect me to be pretty upset about the timing of this update offer. Yet, since I already have a “vanilla” Platinum card, I wasn’t eligible for the bonus anyway. In that way, I’m almost relieved that I only missed out on 80,000 points instead of 150,000!
Needless to say, if you’ve been eyeing either one of these Platinum variants, now could be a great time to pick them up. As for which you should choose (assuming you’re eligible), it really depends on what you want. If you value having a free authorized user you can basically gift lounge access to, then the Morgan Stanley would be the way to go. Meanwhile, if you want a slightly better cash-out option for your points, then go Charles Schwab.
By the way, I’ll have a full review of the Charles Schwab Amex Platinum card in the future — but, in the meantime, you can check out my first impressions of the card.
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