American Express has launched two new co-branded cards in collaboration for American brokerage and banking company Charles Schwab.
The cards comprise a credit card and a premium charge card, which will give Charles Schwab clients access to rewards, benefits and services of American Express.
The American Express Platinum Card for Schwab offers clients rewards, benefits, and services with the ability to redeem Membership Rewards points.
The card provides a welcome offer of 40,000 points credited to the client’s Membership Rewards program account after spending $3,000 in eligible purchases on the card in the first three months.
The Schwab Investor Credit Card from American Express gives unlimited 1.5% cash back on eligible purchases by automatically depositing the amount into their eligible Schwab brokerage account.
The card comes with a welcome offer of $100 credited to the account after spending $1,000 in eligible purchases on the card during the first three months.
American Express Cobrand Partnerships senior vice president Eva Reda said: "Designed with the Charles Schwab customer in mind, these new cobrand cards will have attractive benefits and all the service and security of American Express.
"Since different clients have different spending and credit needs, we are offering two cards for them to choose from, both with features that provide for cash deposits by Schwab directly into clients’ eligible Schwab brokerage accounts."