DISQUS

Yana · 1 year ago

Signing up for the card doesn't require a Schwab account, and doesn't automatically sign you up for one. I saw this offer and it is attractive even to me, though not attractive enough for me to apply. The card is issued by FIA Card Services, which apparently has some connection to Bank of America. I do have Schwab Investor Checking and brokerage account, so if I had the card, the cashback would go into the brokerage account. If someone wanted a credit card to use for their own gain, always paying the balance in full, I would recommend this one. My only reservations are that it is a credit card, with an apparent connection to Bank of America.

G. Jules · 1 year ago

I looked into that. My one issue with it was that getting the deposits meant opening a Schwab One brokerage account, which has a $1K opening deposit. You can get around that if you set up a monthly transfer of $100 or have a Schwab checking account (I don't).

If they'd let me direct the cash back to my existing Roth IRA with Schwab, I'd be so there. (And I may still consider it -- I'm just not sure I want to have to open a taxable account to do this.)

ryan · 1 year ago

it doesnt matter what investment options you are open to (which is actually everything schwab offers). You can just request an ACH transfer of the cashback to your checking account.

Cherryblossom · 1 year ago

Wonder how long till they drop the cashback rate? Nice teaser though.

Eric N. · 1 year ago

Cherryblossom: seems like it doesn't it? :/

Talk to Chuck · 1 year ago

"I’m not a Charles Schwab customer, so I don’t know what kind of investment options you get when you sign up for the card."

Uh, then go to their Web site and read their FAQs. Would've taken you five minutes!

David · 1 year ago

One of my best friends works for Schwab and has their savings, checking, and credit card accounts. And he always says that even if he no longer worked there, he would keep the accounts - I guess they are that good. I have not signed up for any of them, but he always tells me I should!

Cap · 1 year ago

This honestly is a great card for those with a Schwab brokerage account. 2% back, unlimited, and no foreign exchange fees for a Visa card is rather rare (without having to resort to capital one).

Steve · 1 year ago

Schwab high interest checking + schwab brokerage = no min deposits. This is also called a schwab one account.

2% cash back from this card goes monthly into your brokerage. Free to move into your checking account instantly, for use or move to another institution through free ACH push or pull

the card is in the mail for me, looking to use this as a backup to my starwood amex, or make it my primary.