Generally, in investment, it is very important to seek for the right tools to add value to your financial experience. On the scene stands the Schwab Investor Card from American Express which is not just a credit card but an investment card specially designed for astute investor who seeks more than the usual benef ESA benefits that comes with the card. 

It’s full of features that help increase the amount of money that people can earn and at the same time get the basics we need. Find out if this is the ideal card for your financial scenario and consumer profile, read the article below!

Main features of the Schwab Investor Card from American Express 

Launched by American Express – a company that people associate with efficiency and luxury, the Schwab Investor Card targets everyone with high stakes in the market. This card is targeted to those who are Schwab account holders who wish to improve the use of credit cards in correlation with investments. 

From what concerns have been made it provides a range of solutions for investors of all levels as well as FOR those that are just entering the world of investing and it allows every purchase to assist in the building of one’s financial future. Additionally, it has all the strong customer service and protection attributes that people recognized from American Express.

Understanding the annual fee 

This credit card that is associated with the Schwab has no annual fee which makes it attractive to investors. Indeed—enjoying all that this card has to offer, you don’t have to worry about paying an annual fee. 

As with all cards that offer similar bonus and business advantages multiple other cards are available with similar benefits, and they all have one thing in common – high annual fees, so Schwab Investor card stands out as reasonably affordable. 

Deciphering credit limits

They examine your creditworthiness that is, your credit rating and the credit records, to determine your responsible credit behavior. Furthermore, it considers your earnings and borrowing capability hence grant you a suitable credit limit that you can blend with your other liabilities. 

Advantages of the Schwab Investor Card from American Express

• Unlimited 1. 5% Cash Back: Get 1. o Cash back at the rate of 5% on each and every purchase, no upper limit for the quantity of cash back. You receive your rewards in the form of cash directly to your eligible Schwab account; thus, you can immediately invest your cash back.
• 0% Introductory APR on Purchases: Get the benefit of interest free, on purchases for the first six months after opening the credit card account. Subsequently, a variable APR of 19% of the original amount borrowed as the interest rate makes it expensive. 24% to 22. 24% is applied in relation to your credit position and other factors.
• Travel and Entertainment Perks: Have available at one’s beck and call a round-the-clock dining and events concierge service to make bookings for those hard-to-score tables as well as performances.

Standout advantage

The best feature that stands out is that there are no interferences in your Schwab investment account when using Schwab Investor Card. The convenient process of transferring your 1. 5% cash back into Schwab account indicates that each transaction that a person makes can go a long way in supplementing their investment. 

Addressing potential drawbacks

• Variable APR: Later, the rate of purchase and balance transfers becomes much higher and starts from 19% annually. 24% to 22. also the interest rate was a bit high at 24% for those who had balances, this may be be disadvantageous to the people who have balances.
• Limited Bonus Categories: To some extent, the Schwab Investor Card is different from the other reward cards because it comes with 1% cash back rate. Flat rate of 5% cash back on every purchase with no bonus categories that would allow for higher cash-back rates on dining, travel, etc.

Standout disadvantage

The main disadvantage of the card is Schwab Investor Card has a variable APR after the first year significantly higher than the average one. With the interest rates, you can be charged high amounts, more than the cash back rewards if at all you intend to carry a balance. 

Eligibility criteria 

That is, there are things that an individual must meet in order to qualify for the Schwab Investor Card. The applicants must be over 18 years of age and must reside in United States of America. They require employment and have a good to excellent credit rating usually a FICO score that is more than 700. Also you have to possess an eligible Schwab account in order to linked your card for the automatic cash back deposit.

How to apply for the Schwab Investor Card from American Express

To get the Schwab Investor Card it is easy, and there are multiple ways through which American Express makes it easy to apply. Continue reading to gaining more understanding of each application method and decide on which application method you would prefer.

Via website

Submitting an application online via the website of American Express is easy and does not take a lot of time. To apply for an Investor Card, just navigate to the Schwab Investor Card page, and enter a few details on the form, beginning with hitting ‘Apply Now’. 

You will have to share some personal as well as financial information such as SSN, income, and details of the Schwab account. Applying online is a fast process as it may require a few minutes and you may get a decision right away; therefore, it is convenient.

Through the mobile application

If the person wishes to apply for the card they can do on the American Express mobile application which is equally convenient. Go to the app store and download the application, find the section of credit card applications. 

This application enables a user to fill the application process via a mobile device, with the same kind of convenience as the website. Using the said app, one is also able to view the status of your application and even receive notifications anytime a decision will have been made.

Through the store/branch

If you want to go that route, you can apply for the Schwab Investor Card at any branch of Charles Schwab. Despite the fact that Schwab is a chiefly oriented at internet-based corporation, they do have physical branches as well. 

An associate is available to explain the application process, address your concerns or give more details as to the perks of the card. However, this method is highly valuable, especially if you like speaking on the phone or if you require the consultant’s help with the application.