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Top Morgan Stanley Clients Can Get A Free Amex Platinum Card

Escrito por em 17 de Setembro, 2020

morgan stanley amex platinum fee waiver

Morgan Stanley clients hold $400 billion to $600 billion in deposits at banks including JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co., Mr. Duffy said. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty.

Make sure to register both accounts for online access. And I rather would’ve put the $25k needed to waive the monthly fee for CashPlus into a high APY option elsewhere, even if it means I do not get any $695 reimbursement at all. 2) Morgan Stanley only offers the Plat and BBP as their cobranded cards at the moment.

Instant Marriott And Hilton Gold Status

You can get a “$695 Annual Engagement Bonus,” which can be used to pay the annual fee on the card every year. There are a few steps to get the $695 annual engagement bonus. Morgan Stanley has now changed the timing of the payment of the $695 Annual Engagement bonus depending on which investment accounts you have with Morgan Stanley. This change only should affect Platinum CashPlus accounts opened on or after July 2021. I’m not sure I’d call it a flaw (although there was a flaw in the original numbers which I’ve since corrected), but rather it’s an estimate that doesn’t apply to everyone.

morgan stanley amex platinum fee waiver

Actually I think Greg overestimated the opportunity cost. To his point, I would keep 10-15k in checking anyway and at https://wave-accounting.net/ least as much in savings. But if using a high yield savings account rate, you have to take income tax into account.

Do Billionaires Use Credit Cards?

I use municipal money market rates when calculating my own opportunity cost. I’m still waiting for my debit card/checks, but so far fund transfers have been fast. I’ll have to test out how fast they reimburse ATM fees. At least the UI doesn’t have the visual balance quirks Fidelity has.

I am seeing reports of people claiming to have more. Closing and reopening the account would probably be the easiest way to fix this. Just make sure you have a Amex Gold or Green card to “store” your Amex Membership Rewards points on.

How I Am Getting 100% Value For My Amex Business Platinum Dell Credits

One big reason travelers give this card a hard look – and justify the Amex Platinum annual fee – is because of a massive welcome bonus. Keeping the card for the long haul is one thing, but the welcome offer alone can be enough to justify opening the card for at least one year. Up to $240 in annual credits for select entertainment services, split into monthly installments of $20. But this only applies to purchases or subscriptions with Audible, SiriusXM, Peacock, and the New York Times. Unlike the plain Amex Platinum card, you can cash out your Membership Rewards points at a rate of 1.1 cents per point directly to your bank account. This is especially valuable if you’re not interested in award travel, as you won’t need to redeem points against any purchases or waste them on gift cards. Up to $300 Equinox Credit given as a $25 statement credit each month on the Equinox+ digital fitness app, or eligible Equinox club memberships when you pay with your card.

morgan stanley amex platinum fee waiver

The Morgan Stanley Platinum card is a great deal if you can get the avoid the monthly fees on a Platinum CashPlus account to get the $695 Annual Engagement Bonus. You will receive a statement credit when applying for Global Entry or TSA Pre-Check. If you already have it, you could also use the card to pay for it for a family or friend. You would then receive the Annual Engagement Bonus again every 12 months assuming you maintain a qualifying Platinum CashPlus account and American Express Morgan Stanley Platinum card.

It is very clunky and is geared more towards investing. I didn’t use Fidelity as my primary checking because it’s bank linking system is not very good. You can’t even link a third party brokerage checking account like Merrill Edge online. Some people send payments to me via Zelle and I use it as a way of transferring money between my outside accounts instantly.

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You will be eligible to open a Morgan Stanley Amex Platinum card, after you open an Access Investing account. Also have a way to take full advantage of any shop small / dining sign up points multiplier, so the MS card would get me 350k MR points. Seems worth it for me to cash out while I still have the Schwab option. They are not related – you can get the retention bonus from Amex just like any other cards. 5) The note about the $550 not being taxable with $1,000 is gone too, so might be taxable now . There are five significant distinctions between the Amex Platinum and Amex Business Platinum cards.

I bet there are many readers who keep $25K or more in regular checking or savings accounts. The Platinum CashPlus Account normally costs $45 per month ($55 per morgan stanley amex platinum fee waiver month starting 2/1/22). This would wipe out a big portion of the engagement bonus unless you meet the criteria to maintain the CashPlus Account fee free.

Is The $695 Amex Platinum Annual Fee Worth It? An Honest Review

The Delta Reserve card listed above is on my wife’s account. The AMEX Platinum card for US military servicemembers AND their spouses has NO annual fee. The normal $695 annual fee is waived under Amex’s interpretation of the Servicemembers Civil Relief Act and Military Lending Act laws.

  • Essentially, many fees aside from the cost of in-flight Wi-Fi, cabin upgrades, and the plane ticket itself will trigger the credit.
  • If all this sounds too good to be true, take a look at the annual fee.
  • I tried doing that and just opening it online and it said my account wasn’t eligible.
  • The value of elite status and membership perks will also vary considerably depending on if and how often you use them.
  • Meet the $25k average daily balance and $5k in monthly deposit requirements.

What does MS have that Fidelity and Schwab don’t other than the Identity Protection? Fidelity has lower fees and better options for earning interest on your money (when the Fed rate isn’t 0%). I’ve been happy with my Fidelity CMA account, but to each their own. Now, if you are saying this is a great free checking account in addition to a free Amex Platinum then I agree with you.

The Best Business American Express Cards For Military Members

One benefit CSR has over AMEX is the priority pass include complimentary food at certain airport restaurants for 2 people ($28-30 per person). Next, sign up for my 100% free, 5 day course on how to maximize your SCRA and MLA travel credit card benefits! You can also check out the other credit cards that waive annual fees for military. Clients with more than $1 million invested with Morgan Stanley can also get the $450 annual fee waived for their American Express Platinum credit card. For cardholders who can take advantage of the included benefits, you’ll feel like a rockstar. Breeze through security and immigration lines by using the Global Entry and CLEAR® fee credit reimbursements.

Things To Know About The Charles Schwab Amex Platinum

The easiest way to get your Amex Platinum annual fee waived is apply and open the card while on active duty military servicemember or while married to an active duty servicemember. For Morgan Stanley, open the Platinum Cash Plus and the Amex Platinum and don’t do anything to meet the fee waiver. So no need to open the investment access account with $5k or the $25k savings.

Better than the vanilla plat in my opinion, but would still go the fee waiver route. I was hoping I could still get the cash plus platinum account while not maintaining $5000 in the Access investing account. I have kept open an Access account with a small amount of money for when I’m ready to get the MS plat, and they haven’t shut my account down yet after 4 months. It can’t be invested until the $5k threshold, so it just sits in a cash account earning no interest.

Bank Of America® Premium Rewards® Credit Card

Plaza Premium is a network of airport lounges around the world that are open to Platinum Card Members, regardless of airline or ticket class. How do you qualify for a platinum American Express card?

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