American Express

Platinum for Schwab

AF $895⚡ ALL-TIME HIGH★ Keeper

What it is

The Platinum for Schwab is an American Express card earning Membership Rewards points. Its ongoing value can outweigh the annual fee, making it a potential keeper past year one. Consumer Platinum with a Schwab twist: cash MR out into a Schwab brokerage account at 1.1cpp. Worth it if you bank at Schwab and use the credit stack.

Offer history

Current offer

150,000

$2,250 bonus · $2,879 year 1

Spend to earn

$12k

~$2,000/mo · 180d

All-time high

150,000

now

Timing

At its peak

matches all-time high

Value over time

Plot

Year 1 (incl. perks)Bonus $Spend / mo (right)All-time highProduct refresh

Value is the welcome bonus at your valuations. The Year 1 total also counts recurring benefits and subtracts the annual fee. Spend / mo (the dashed line, right axis) is the monthly pace to clear the minimum spend in time — shown on every view so the spend stays in context.

Offer	Bonus	Value	Year 1	Return	Date
PUBLIC ATH	150,000$12k · 180d	$2,250	$2,879	19%	May ’26
PUBLIC	125,000$8k · 180d	$1,875	$2,504	23%	Sep ’25
AF $695 → $895 · Sep 2025
PUBLIC	125,000$8k · 180d	$1,875	$2,287	23%	May ’25

What you get

Amex Global Lounge CollectionNo foreign transaction feesCell phone protectionTrip cancellation insuranceCharge card

Hotel credit (FHR)$600per year
$300 Jan-Jun + $300 Jul-Dec on FHR/THC prepaid stays.
Resy dining credit$400per year
$100/quarter at US Resy restaurants (refresh raised to $400/yr).
Digital entertainment$300per year
$25/mo across eligible streaming/news.
Lululemon credit$300per year
$75/quarter Lululemon (Sept 2025 refresh).
Equinox credit$300per year
$300/yr Equinox/Equinox+.
SoulCycle credit$300per year
$300/yr SoulCycle bike (Sept 2025 refresh). Very niche.

Dollar figures are the benefit’s face value. What it’s worth to you — after realistic usage and your own point values — is in the receipt below.

The receipt

default values

SUB value	+$2,250
150,000 MR × 1.50¢/pt
Ongoing benefits (yr 1)	+$1,494
Hotel credit (FHR)($300/semi × 55%) Hotel credit (FHR) $300/semi × 55% $330 Digital entertainment($25/mo × 70%) Digital entertainment $25/mo × 70% $210 Resy dining credit($100/qtr × 50%) Resy dining credit $100/qtr × 50% $200
One-time benefits (yr 1)	+$30
Global Entry credit($120 × 25%) Global Entry credit $120 × 25% $30
Annual fee	−$895
Year 1	$2,879
Return on $12k MSR	19%