Thinking About Parking $30k With Morgan Stanley For A Free Amex Plat Card

morgan stanley amex platinum fee waiver

But if you wouldn’t normally use services like Audible – or don’t go to Equinox gyms – those stated values really mean nothing for you. With such a long laundry list of benefits, it can feel like a part-time job to track whether you’ve used your monthly and yearly credits for each perk. While it adds to the Amex Platinum annual fee, you can do the math and figure out if that’s worth it to give friends and family some great travel benefits. You can easily lower the cost of CLEAR to just $119 by being a Delta SkyMiles or United MileagePlus member – or down to $109 with airline status or a co-branded credit card. That leaves some extra money on the table with this new credit … and you can put it to good use through CLEAR’s Family Plan.

morgan stanley amex platinum fee waiver

Even if you are terrible at redeeming Amex points the sign-up bonus is worth $812 cashed out via Schwab Amex Plat. If you’ve got a system to automate the transactions I’d consider it. I have automated transfers setup at Schwab to satisfy requirements for a 4% savings account that someone offered me. You’ll need to do the math to see if it’s worth parking $25,000 in the account to get $695 in value. It’s effectively the equivalent to 2.2% APY, which is a competitive rate given the current economic environment. In early 2020, Morgan Stanley replaced the Premier Cash Management program with CashPlus.

How Many American Express Black Card Holders Are There?

The first step is to open a Morgan Stanley Access investing and maintain at least $5,000 in the account. This account has an annual fee of 0.35% $17.50 per year for $5,000 invested). The additional cardholders gets most benefits, besides the credits. To confirm offers and credit card details, check the issuer’s website. You get a “free” Amex if you ignore taxes, fees, your time dealing with MS to get this setup, and ignore the money you’re losing by not pursuing other low hanging fruit like I bonds paying 7.12%. I rather pay $209 for the benefits of the platinum card then $695 lo… CashPlus Accounts are brokerage accounts specifically designed for your cash management needs.

Depending on how long it takes you might be out only $45. Morgan Stanley offers the Access Invest account with a minimum of $5,000 and a 0.35% annual fee. If the balance starts to increase, you may want to think about transferring it out. However, $17.50 for a free Amex Platinum card is still a great deal with current interest rates.

Get A $695 Annual Engagement Bonus

Right now the Chase Sapphire Preferred is doing a huge 80k bonus. It will probably be that way at least until the end of 2020. I recommend morgan stanley amex platinum fee waiver you get a Sapphire Preferred first, then an Amex Platinum, then hit the rest of the Chase cards you want while you are under 5/24.

I have another account that I opened for a $500 bonus that will also pay 3% if I jump through the right hoops. I can get 2.15% tax-deferred in the stable value fund of my 401k, on any amount I want to invest. As always, it’s individual facts and circumstances that dictate whether a card is worth it. Plus if you’ve had the Platinum before I’d make sure that doesn’t disqualify you from the bonus on this card.

Morgan Stanley Chases $50b Of Clients’ Money With Free Platinum Amex

You must wait at least 90 days between the application for different flavors of AmEx Platinum cards, otherwise the application will be cancelled. The CashPlus account team seems easy enough to work with for banking functions, so at least that support is less concerning than the process of getting this all setup. This is less like a bond fund and more like a CD, because the return starts to fade rapidly as soon as your average daily balance drops to $24,999.99 or below and you start incurring the $45/mo fee.

  • What does MS have that Fidelity and Schwab don’t other than the Identity Protection?
  • A charge card is a type of electronic payment card that charges no interest but requires that the statement balance be paid in full.
  • You’ll find different benefits and rewards on every card, making this comparison required reading.
  • Don’t have a card yet, but don’t want to pay the fee on a chance.
  • I rather pay $209 for the benefits of the platinum card then $695 lo…

E.g. if you’ve had the $550 (or $450 before that) version of the Morgan Stanley Platinum card, they’re saying that you can’t now get a welcome bonus for the $695 version of the Morgan Stanley card. The lower end of the fee range (0.07% – 0.12%) is for the passively managed “Market Tracking” portfolios. Yes that’s a good point but in my experience those high yield options often change to much lower yields and then you have to keep moving money around. Still, you’re right that that’s probably a better approach. When you log into your Access Investing account look for a link in the top right that says “Contact My Morgan Stanley Team”. Hover the mouse there and you’ll see a phone number. After getting Access Direct account in November and numerous calls with different answers and a complaint, finally got the bonus last week.

They can end up with extra money in their Morgan Stanley accounts and points they can use for travel. That makes this a sound financial decision, especially for consumers who don’t have to pay the annual fee. If you don’t have that type of account, carefully consider how much value you’ll get from this card. All its spending credits and other perks can certainly make up for the annual fee, but only if you use them. If not, check out credit card reviews to find a more suitable card option.

Basics Of The Amex Platinum Card

There is almost always an Marriott or Hilton property near your TDY location or your vacation spot. Since SPG and Marriott just merged you should have no problem cashing in on this benefit. When you’re travelling internationally or domestically, it’s really nice to not have to worry about food, where you’re going to charge your phone, or if the bathrooms are going to be nice. Lounge access takes you far from the madding crowds and gives you a little bit of peace in your travels. As an example, I recently cashed in 240,000 AMEX MR points for $27,000 first class flight from Hawaii to Tokyo, Japan. Disclaimer – Miles to Memories & the author are not credit providers and do not provide personal financial or professional advice or credit assistance.

morgan stanley amex platinum fee waiver

Every one of our cards has the fee waiver and each one was obtained while I was active. I am worried that if she argues this point, we will lose the waivers for the other cards. Every month, like clockwork, I get a $15 credit in my Uber account, just for keeping my no annual fee AMEX Platinum card around. If you have more than one Platinum card or your spouse has a Platinum card, you can stack the credits as well. My first credit card in college was an American Express card. My military spouse wife is also growing her Amex collection without any annual fees. So far she has the American Express® Gold Card , the Platinum card, the Hilton Honors Aspire card , and the Delta SkyMiles® Reserve American Express Card .

How We Make Money

Another option is to use the debit card that comes with the Platinum CashPlus account and spend $100,000 on the debit card within the calendar year. Then you’ll get the $695 engagement bonus even without having the Platinum card. It’s still not bad, at least in current environment, to get $550 back on the year for $25,000 tied up since the $550 will amount to a return of 2.20% APY. The Morgan Stanley Amex Platinum card is almost identical to the ordinary Amex Platinum card, and comes with a bonus of 60,000 points after $5,000 spend. (You can get the bonus on each Platinum card separately.) One benefit it has over the ordinary Platinum is the ability to cash out points at 1 cent per point (sorry, not 1.25 like Schwab). Another benefit is that you get one free authorized user who gets many of the Amex Platinum benefits; no other version of the Platinum offers that.

That’s an incredible deal you won’t find anywhere else. This method could be a great way to receive the $695 annual engagement bonus, which can be used to pay the annual fee on the card every year. I would add that this is a lot of work to sign-up for the bonus just to cancel. If you’re using Access as the qualifying investment account, you have to open CashPlus over the phone with an advisor. I did this about a month ago and it took over an hour. Although not paying much in interest, the CashPlus account has some decent benefits itself.

What Is Highest Credit Limit?

The Upromise Round Up option lets you round up your purchases to either the nearest dollar, or even up to the nearest $500. The difference between the purchase amount and the round up amount will count as a purchase and will also earn cash back. Receive 50,000 bonus points — a $500 value — after you make at least $3,000 in purchases in the first 90 days of account opening. Read more about Select on CNBC and on NBC News, and click here to read our full advertiser disclosure. And right now, Amex is offering the best-ever bonus on the Platinum Card. So if you’ve never had the Platinum Card (or even if you’ve had it in the past) there has never been a better time to jump on this best-ever offer – if you can make the math work. But for someone who is less loyal to Delta – or simply doesn’t fly enough to build up status – the Platinum Card is a far better option.

Earn 100,000 Membership Rewards® points after you spend $5,000 in purchases on the Card in the first 3 months of Card Membership. This subreddit is for current and prospective cardmembers and anyone with an interest in American Express. You’ll find topics on tips, tricks, questions, promotions and reviews of AmEx charge and credit card products.

Rates Of Pay

If she’s in the MLA database and you opened the account after you entered active duty, you do NOT need to apply for SCRA benefits. You need to apply for SCRA or MLA benefits while your active duty orders are in effect. If you wait until after your active duty period there are no benefits. Unfortunately I don’t think you have any recourse with Amex on this one. I have been a reservist since mid 2020 and was recently on a 45 day ADT when I learned of the AMEX fee benefits. I applied when I returned 2 days after my ADT was completed. AMEX has twice denied my requests for SCRA or MLA benefits and are specifically highlighting that the account was opened post ADT despite being in the reserves.

Also, I still think you’re not thinking creatively enough on some of the Amex benefits. AMEX is not waiving the annual fee for business cards under the Military Lending Act. As of January 2020, AMEX is enforcing the distinction between new business card accounts that were opened prior to military service under the SCRA and those accounts opened after military service under the MLA.

Plaza Premium Lounges

Schwab Bank High Yield Investor Checking® account gives unlimited ATM fee rebates worldwide and doesn’t charge service fees or require account minimums. You can link a Schwab brokerage account to a Schwab checking account with one login and transfer funds between the accounts for free. Like its nearly identical twin card, The American Express Platinum Card® for Schwab earns Membership Rewards points. These rewards can be redeemed for the greatest value when used for travel, but there are also options to use them for gift cards, shopping or to “erase” charges from your card with a statement credit.

Similar to the netspend cards which were 5% on $1k (prior to that they were $5k). I had 5 of those before consolidating and closing them down last year.

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