popularWolfTheCat posted May 13, 2025 10:45 AM
Item 1 of 2
Item 1 of 2
popularWolfTheCat posted May 13, 2025 10:45 AM
AMEX/Schwab Platinum Card - 125,000 point sign-up bonus
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Note: A regular AMEX platinum card will get you more bonus points, but normal MR points only pay $0.006 in cash per point as statement credit, but schwab platinum pays $0.011 in cash per point as deposit to a Schwab account. This makes this deal better for cash, but the other better for travel.
(Plain AMEX platinum deal here: https://slickdeals.net/f/18241999-amex-platinum-elevated-welcome-offer-of-175-000-points-instead-of-80-000)
Main Facts:
I don't travel, so I look at this as a pure cash play. Here's my math as to what the 125k points are worth "as cash" assuming you don't use any other benefits:
Realistically, some of those benefits will probably give you additional value. I'll probably take the streaming credit.
https://www.schwab.com/credit-cards
(Plain AMEX platinum deal here: https://slickdeals.net/f/18241999-amex-platinum-elevated-welcome-offer-of-175-000-points-instead-of-80-000)
Main Facts:
- $695 annual fee, NOT waived for the first year.
- Spend $8k on card in first 6 months for 125,000 membership rewards point bonus.
- Rewards points may be redeemed as cash at $0.011 per point, deposited to Schwab account.
- Requires a Schwab account.
- Additional statement credits based on balance in Schwab account. $100 bonus for $250k balance, $200 bonus for $1M balance, $1k bonus with $10M balance. I'm assuming most folks won't get this bonus.
- Earn one MR point per dollar in spend.
- 2-5MR points per dollar spend on AMEX travel
- $200/year back on fancy hotels
- $200/year back on airline fees like luggage fees and such
- $20/month streaming credit with streaming partners.
- $199 CLEAR+ credit
- Airport lounge access
- Cellphone insurance
- Global Entry/PreCheck fee credits
- Hilton/Marriott gold status
- Airline transfer deals
- Trip cancellation and delay insurance
- Baggage insurance
- Includes Walmart+
- A $200 Uber cash bonus I don't understand.
- $300 Equinox credit (no idea what that is)
- Other stuff
I don't travel, so I look at this as a pure cash play. Here's my math as to what the 125k points are worth "as cash" assuming you don't use any other benefits:
- 125k points x $0.011 per point = $1,375
- Less $695 annual fee
- Less 0.9% to 1.9% opportunity cost for spending $8000 on this card for 1.1% cash back when you could have got 2-3% cash back:
Realistically, some of those benefits will probably give you additional value. I'll probably take the streaming credit.
https://www.schwab.com/credit-cards
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About the Poster
Deal Details
Community Notes
About the Poster
Note: A regular AMEX platinum card will get you more bonus points, but normal MR points only pay $0.006 in cash per point as statement credit, but schwab platinum pays $0.011 in cash per point as deposit to a Schwab account. This makes this deal better for cash, but the other better for travel.
(Plain AMEX platinum deal here: https://slickdeals.net/f/18241999-amex-platinum-elevated-welcome-offer-of-175-000-points-instead-of-80-000)
Main Facts:
I don't travel, so I look at this as a pure cash play. Here's my math as to what the 125k points are worth "as cash" assuming you don't use any other benefits:
Realistically, some of those benefits will probably give you additional value. I'll probably take the streaming credit.
https://www.schwab.com/credit-cards
(Plain AMEX platinum deal here: https://slickdeals.net/f/18241999-amex-platinum-elevated-welcome-offer-of-175-000-points-instead-of-80-000)
Main Facts:
- $695 annual fee, NOT waived for the first year.
- Spend $8k on card in first 6 months for 125,000 membership rewards point bonus.
- Rewards points may be redeemed as cash at $0.011 per point, deposited to Schwab account.
- Requires a Schwab account.
- Additional statement credits based on balance in Schwab account. $100 bonus for $250k balance, $200 bonus for $1M balance, $1k bonus with $10M balance. I'm assuming most folks won't get this bonus.
- Earn one MR point per dollar in spend.
- 2-5MR points per dollar spend on AMEX travel
- $200/year back on fancy hotels
- $200/year back on airline fees like luggage fees and such
- $20/month streaming credit with streaming partners.
- $199 CLEAR+ credit
- Airport lounge access
- Cellphone insurance
- Global Entry/PreCheck fee credits
- Hilton/Marriott gold status
- Airline transfer deals
- Trip cancellation and delay insurance
- Baggage insurance
- Includes Walmart+
- A $200 Uber cash bonus I don't understand.
- $300 Equinox credit (no idea what that is)
- Other stuff
I don't travel, so I look at this as a pure cash play. Here's my math as to what the 125k points are worth "as cash" assuming you don't use any other benefits:
- 125k points x $0.011 per point = $1,375
- Less $695 annual fee
- Less 0.9% to 1.9% opportunity cost for spending $8000 on this card for 1.1% cash back when you could have got 2-3% cash back:
Realistically, some of those benefits will probably give you additional value. I'll probably take the streaming credit.
https://www.schwab.com/credit-cards
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47 Comments
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Literally against the AMEX TOS.
The points broker buying points from you WILL eventually be identified, and your account WILL be banned. AMEX are very ban-happy. There are periodic waves of closures, and the latest one was recently, and it overwhelmingly affected Chinese users who abused the points earnings system with fake spend. Now they get to enjoy a lifetime ban.
The points broker buying points from you WILL eventually be identified, and your account WILL be banned. AMEX are very ban-happy. There are periodic waves of closures, and the latest one was recently, and it overwhelmingly affected Chinese users who abused the points earnings system with fake spend. Now they get to enjoy a lifetime ban.
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https://www.americanexp
The points broker buying points from you WILL eventually be identified, and your account WILL be banned. AMEX are very ban-happy. There are periodic waves of closures, and the latest one was recently, and it overwhelmingly affected Chinese users who abused the points earnings system with fake spend. Now they get to enjoy a lifetime ban.
I'm not saying this isn't against the TC's but it's a lot more difficult to police since it's not like one person is at the center of it all. To amex it just looks like you are booking a plane ticket under someone else's name who could very well be a friend or relative.
There's other non-travel ways to get value from chase-- If you have a CSR you can pay yourself back at 1.25c a point for grocery and gas station purchases for example.
But even with a "regular" chase card it seems you'd be better off if you redeem the 1c point as statement credits instead of cash.
Because then you'd be earning the points for the things you buy- versus cash where you don't.
(I suppose you can charge to your cards anyway, then use the cash to pay them, but that seems like the same as statement credits but with extra steps)
I think if you travel this is flat out wrong....Even in coach you can get better than 1 cent a point (usually 1.5-2.5 cents a point)....Likewise for Chase you can get 2-2.5c at Hyatt hotels.
And while I agree I wouldn't pay full cash price for a business class seat I'd certainly pay more than I would for a coach seat, on a long trip anyway- so even if you don't "count" it as 5c a point for business it's at least worth more than the SAME ticket in coach for which you'd be getting 1.5-2.5c a point.
So it's tough to make much of a case for less than avg. 2 cents a point unless you're a non-traveller.
Nobody sane would transfer $1M for a $200 bonus.
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That kinda just makes sense - a margin account is a request for credit.
But, if you are really concerned about a hard pull, don't apply for an AMEX platinum card.
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