Schwab Investor
American ExpressNo annual fee2.7% foreign transaction feeIssuer's page
A fair time to apply if the card fits how you spend.
Already have it? Keep it.
Welcome bonus
$200
after $1,000 in purchases in the first 3 months
Once in a Lifetime Rule, 1 per 5 Days and 3 more. Am I eligible?
A typical spender, at Miles' point values.
| First-year value | Amount |
|---|---|
| Welcome bonus$200 cash | $200 |
| Rewards above a 2% no-fee cardvs Double Cash, on $32,500 typical spend | $0 |
| Annual fee | $0 |
| Meeting the $1,000 minimumearns 1.5% here vs 2% on Double Cash | −$5 |
| First year | $195 |
| Each year after | +$95 |
Not counted in the first year: protections (each year after counts them).
Earning
| Rate | Category | Return |
|---|---|---|
| 1.5% | Everything else | 1.5% |
Personal card · Earns Cash Back
Benefits
Protections (3)
- Purchase Protection, up to $1,000, 90 days coverage for theft/damage
- Extended Warranty, up to $10,000, Extends original manufacturer warranty by up to 1 year (warranties of 5 years or less). Up to $10,000 per item, $50,000 per year.
- Car Rental Insurance (secondary), up to $50,000, Secondary coverage up to $50,000 for rental car damage or theft
Sources and methodology
First-year value is Miles' estimate for a typical spender: the welcome bonus at Miles' point values, plus the rewards this card earns above the best no-annual-fee card's everyday rate on a typical year of spending, plus credits at the share a typical holder uses rather than their face value, plus any certificate or free night earned in that year, minus the first-year fee and the cost of putting the minimum spend on this card instead of that one.
Lounge access, elite status, other benefits, purchase and travel protections, and a certificate or free night that arrives on the card's anniversary are listed beside the first-year figure, not in it. Each year after counts them, with the rewards and credits, less the annual fee. A credit or benefit that needs a spend or a stay counts only where its condition is printed beside it, and credits gated on spend most people never reach are left out.
The fee, offer, earning rates, credits and protections come from the card's record in the Miles dataset, kept against the issuer's own terms. The verdict line is chosen from a fixed set of sentences by Miles' analysis of the offer and the card; nothing on this page is written by hand for one card.
Recent changes
- changed from null to Schwab InvestorOct 8, 2026
- changed from null to creditSep 2, 2026
- changed from null to 1000Aug 13, 2026
- changed from null to 90Aug 13, 2026