Charles Schwab is a company which operates its business in banking and brokerage field. Being established in 1971, now this company grew much and becomes an expert in its field. A company which is based in San Francisco, California, now has a lot of branches in almost all states in the United States and also some other countries. Now, it becomes one of the biggest brokerage firms and also one of the biggest banks in the United States. What divisions are run by Schwab? Those are wealth management, trading, banking and investing. The services which are provided by this company are electronic trading platform for the , buying and sale of financial securities and those contain exchange-traded funds, futures contracts, preferred stocks, options, fixed income investment, mutual funds, margin lending, cash management services, common stocks and also gives services through registered investment advisers.
This company also has Charles Schwab credit cards. There are types of card, Schwab Investor Card from American Express and American Express Platinum Card for Schwab. What are the differences between both of them? In the Schwab Investor Card American Express, you can earn a $100 Card Statement Credit after you spend $1,000 in purchases on your Schwab Investor Card from American Express in the first 3 months of Card Membership. There is also no annual fee. If you use this card, there is 0% introductory APR on buying and balance transfers during 6 months. Then, your APR will be a variable rate, 15.24% to 18.24% and it is based on your creditworthiness and the other factors. There will also be cash back on everyday purchases. You are able to earn an unlimited 1.5% cash back which is deposited into your eligible Schwab account for buying that is made with your Card.
In American Express Platinum Card for Schwab, you are able to earn 60,000 Membership Rewards points if you have spent $5,000 in purchases on your Charles Schwab bank credit card in your first 3 months of Card Membership. You will be required annual fee of $550. There is no foreign transactions fees from American Express when you use your Card. There is also no interest charges since you pay your balance in full every month. You are also able to get a $100 Card statement credit in case your qualifying Schwab holdings are the same to or bigger than $250,000 or get a $200 Card statement credit in case your qualifying Schwab holdings are the same to or bigger than $1,000,000 when measured following Card account approval and also annually thereafter. For membership reward points, you can get 1x points for each dollar of eligible buying and you can get membership rewards points that you can turn into deposits to your Schwab account.
Everyone can apply to have Charles Schwab secured credit card as long as you are at least 18 years old with a valid U.S. home address and an eligible Schwab account may apply for a Card account. What does an eligible account mean? It means a Schwab One or Schwab General Brokerage Account that is held in your name.