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Author - Sam
Updated: September 12, 2024 | Credit Card Review The Platinum Card® from American Express Exclusively for Charles Schwab (American Express is a HelpMeBuildCredit advertiser) is a luxurious travel card, including travel benefits such as lounge access and auto rental insurance. You must have a Schwab account to be eligible. A set credit limit will not be set for you, rather it will be based on purchase history. Plus, points are worth 1.25 cents when deposited into your Charles Schwab brokerage account!
- Credit: Good credit needed
- You must have a Schwab Account: You must have an eligible Schwab account to be eligible for this card
- Only one Platinum in 90 days: Amex has three personal Platinum cards 1) card_name 2) The Platinum Card® from American Express Exclusively for Morgan Stanley, 3) The Platinum Card® from American Express Exclusively for Charles Schwab. You can only get one of the three Platinums in a 90 day period.
- Max cards: You can only get approved for up to and including- 10 Amex No Preset Spending Limit* cards. (This rule is not always enforced)
- Apply for two cards: If you apply for one Amex card and get approved, it is recommended to apply for a second card since Amex is very good about approving for two cards, even within the same day
- Credit bureau: Amex will usually pull your Experian credit report. With the new "Apply With Confidence" feature, Amex will first do only a soft pull on your credit report and will let you know if approved or not. Only after you accept the approval will Amex do a hard pull on your credit (this feature is currently only available on Amex consumer cards. See more details below)
- Combining same-day credit inquiries: Credit inquiries for same-day applications will be combined, as long as they are both approved for on the same day.
- Check application status: You can check your application status here or call 1 800 567 1083
- Reconsideration: If declined you can call 1 800 567 1083 to be reconsidered
Quickest way to get my card: Amex will sometimes give you an instant credit card number after approval, but not always. Amex Platinum physical cards will automatically be expedited and delivered overnight.
Approval Monitor (submitted by HelpMeBuildCredit users)
Disclosure: These results are based on information submitted by HelpMeBuildCredit users. Credit card approval results are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. Neither HelpMeBuildCredit nor the bank advertiser's take any responsibility on the accuracy of the information.
HelpMeBuildCredit credit ranges are a variation of FICO®️ Score 8, one of many types of credit scores lenders may use when considering your credit card application
Secondary worldwide coverage on rentals up to 30 days (excluding Australia, Italy, and New Zealand). Max $75,000. You can purchase a premium plan from Amex that will offer primary coverage up to 42 days. Max $100,000.
Get reimbursed for up to $800 per claim (with a $50 deductible) if your cell phone is damaged or gets stolen. To activate coverage, you need to pay your monthly cell phone bill with your Amex Platinum Schwab credit card. Max 2 claims per year.
Get a $12.95 monthly credit to cover the full cost of a Walmart+ membership. Enrollment is required.
Get a $200 airline incidental fee credit each calendar year, for charges such as baggage fees, seat upgrades, flight changes, inflight food and beverages, etc. Enrollment is required.
Get a $200 statement credit each calendar year on prepaid Fine Hotels and Resorts and The Hotel Collection bookings, through Amex Travel (bookings with The Hotel Collection requires a minimum two-night stay). Enrollment is required.
Get up to $20 back per month on Digital Entertainment purchases at the following providers Disney+, The Disney Bundle, ESPN+, Hulu, Peacock, and The New York Times, Wall Street Journal. Enrollment is required.
Get $15 in Uber Cash each month plus a bonus of $20 in December.
Get a $300 Equinox statement credit per calendar year. Enrollment is required.
Get a $199 CLEAR statement credit per calendar year.
Get $50 statement credit for purchases at Saks Fifth Avenue from January through June and a $50 statement credits from July through December. Enrollment is required.
Receive $100 statement credit for Schwab Holdings greater than $250,000, or a $200 statement credit for Schwab Holdings greater than $1,000,000, per calendar year.
Get one additional year to your original manufacturer’s warranty time. (Will only cover if the original warranty is for 5 years or less). Max $10,000 per claim, $50,000 per year.
Points are worth 1.10 cents when deposited into your Charles Schwab brokerage account.
No foreign transaction fee.
Get a statement credit for Global Entry or TSA Pre-Check every 4-4.5 years.
Get covered for lost or damaged luggage up to $2,000 per person for checked baggage and up to $3,000 per person for checked and carry-on baggage combined. Max $10,000 per trip for NY residents.
Access to 1,200+ airport lounges, with a complimentary membership to Priority Pass Select:
Centurion Lounges
AirSpace Lounges
Escape Lounges
Delta Skyclub lounges (when flying Delta)
Select Lufthansa lounges (when flying Lufthansa, Austrian Airlines, or Swiss)
Get refunded if your purchase is damaged, lost, or stolen, up to 90 days from the date of purchase. Max $10,000 per claim, $50,000 per year.
Not happy with a purchase? Get a refund on purchases that have passed the store return policy – up to 90 days from date of purchase. Max $300 per claim, max $1,000 per year.
Coverage for canceled or interrupted travel due to an unforeseen medical emergency etc. Max $10,000 per person per trip, max $20,000 per year for non-refundable travel expenses including flight tickets, hotels, and more.
If your flight is delayed for 6+ hours, you can claim up to $500 per trip to cover expenses like meals, lodging, toiletries, medication, and other personal use items. Up to 2 claims per year.
Hilton Gold status.
Marriott Gold status.
Uber VIP.
National Emerald Club Executive status.
Avis Preferred Club status (publicly available).
New! Hertz President Circle. Plus get an extra 4 hours to return your car (For the 4-hour grace period you need to use the Amex Platinum CDP )
The following are your options for redeeming Amex Points for cashback:
- Use points for a statement credit at 0.6 cents per point (very poor value)
- With The American Express Platinum Card for Schwab ($695) you can use your points to transfer to your Chares Schwab account at 1.1 cents per point
- If you have The Business Platinum Card from American Express ($695) you can transfer your points to your Amex Business checking account at 1 cent per point
- If you have the Morgan Stanley Amex Platinum ($695) you can deposit your points to your Morgan Stanley account at 1 cent per point
You can use your points to book airfare, hotels, car rentals, and more on Amex Travel. You will get 1 penny per point for flights and 0.7 cents per point towards all other travel.
If you have the The Business Platinum Card from American Express then you can get 35% of your points back when booking a flight on Amex Travel (up to 1,00,000 points back per calendar year).
In order to qualify for the 35% points back promo, the flight needs to be one of the following:
- Flights booked on your preferred airline – this is a single airline you choose once a year in January as your preferred airline. You can choose any of the following U.S. airlines:
- American
- Southwest
- United
- Delta
- JetBlue
- Alaska
- Frontier
- Hawaiian
- Spirit
- You will also receive the 35% rebate when you book a first or business class ticket on any airline (regardless of the airline you choose as your preferred airline)
You can transfer your points to any of the following Amex Travel partners.
Airline partners:
| Transfer Ratio | Transfer Time | |
| Aer Lingus, AerClub | 1:1 | Instant |
| AeroMexico | 1:1.6 | 2-12 days |
| Air Canada | 1:1 | Instant |
| ANA | 1:1 | 3 days |
| Air France/KLM | 1:1 | Instant |
| Avianca LifeMiles | 1:1 | Instant |
| British Airways | 1:1 | Instant |
| Cathay Pacific | 1:1 | Up to 1 week |
| Delta Airlines | 1:1 | Instant |
| Emirates | 1:1 | Instant |
| Etihad Airways | 1:1 | Instant |
| Hawaiian | 1:1 | Instant |
| Iberia | 1:1 | 1-3 days |
| JetBlue | 1:0.8 | Instant |
| Qantas | 1:1 | Instant |
| Singapore Airlines | 1:1 | 1-2 days |
| Virgin Atlantic | 1:1 | Instant |
Hotel partners:
| Ratio | Transfer Time | |
| Choice Privileges | 1:1 | Instant |
| Hilton Honors | 1:2 | Instant |
| Marriott, Bonvoy | 1:1 | Instant |
