Last call for Amex Green increased offer (8/23): www.asksebby.com/credit-card-reviews/american-express-green-card How to find an elevated Amex Plat Offer: www.asksebby.com/guides/amex-plat-cardmatch 💳 Sebby's Card Picks: www.asksebby.com/credit-cards
You’re doing a real service with your videos. It can be incredibly overwhelming when you’re first starting out. Which card will work best for me? What do I do with all of these points? Which one can I qualify for? Will I be net positive if I get this card? There’s so many questions, and the answers aren’t always easy. I used your calculator to decide which card would work best for me, and I really cannot thank you enough. You made the choice really simple.
The MS Plat no longer makes sense for me. You basically put 25k away and get pennies a month in interest. Put that in a high yield savings account and the interest comes out to more than the annual fee. Win win win.
I have the MS card from the Access Investing before it closed off, and I didn’t know about cashing out for 1 cpp. Might need it for my college ring 😂 Edit: i have the cash plus account and don't meet the fee waiver, but I got the 695 bonus the January after I got my card (Right before they closed Access) so I'm essentially paying a 650 annual fee instead. I got very lucky with how things played out
My employer used eTrade for stock (associate purchases and RSUs) - and that is now changing over to a full fledged Morgan Stanley account instead of eTrade, I’m hoping that qualifies for the MS Platinum because makes hitting and maintaining the minimums easy.
I don’t have any AMEX card and obviously after watching your videos I’m planning on getting the platinum as my first AMEX. I’m bummed to hear now that you can only have one platinum card, and obviously I would get the plain vanilla one first to see if I’m targeted for that 100K offer and eventually get the Schwab one, since I am already a customer.
The annual cost of this card is high and the rewards for those of us who do not live in a major metro city are limited so many of the benefits are somewhat wasted. Now retired it makes no sense. Even when I owned a small business before retiring, Chase Ink was a much better deal.
I’ve had issues with my current broker and because we dipped our toes into the travel cards with the Venture X, we’re now moving to MS so we can have the MS Amex for free with a free AU. This only makes sense because we found an advisor we like one of the local MS firms. Otherwise, I wouldn’t even consider it and just keep my Venture X.
Not sure that you could justify the MS platinum with the number of hoops involved. The whole cash plus fee waiver thing is a pretty big opportunity cost with interest rates as they are (vs even a HYSA for that $25K). Plus you get a 1099 for your trouble on that.
I have the Morgan Stanley. I consolidated some retirement accounts in there and I keep the $25K average balance which gets rid of the fee. Opportunity cost is I could invest some of that money or stick it in a savings account but I prefer to have some cash around anyway just as a cushion in case something goes awry. The AAA account doesn't have a minimum actually but it does have the $150 fee but I really just use the IRA account. Everything is in an index fund so it's set and forget. I managed to get this before they got rid of the bonus so I got my points from it. It was a lot of hoops but I'm sort of glad to have my retirement accounts there for now.
We have our company 401k with TD which is now being absorbed into Charles Schwab; wonder if those accounts will be eligible for the appreciation bonus.
Sebby, I spoke to a MS financial advisor last week and said I could open a savings account under the AAA that would Essentially cover the required brokerage account for the engagement bonus of $695.
Gona run the Gold + Green + BBP But eventually I want the business plat. AmEx has already sent me a 110k offer on the biz gold & 150k offer on the biz plat. Very tempting 🤔
If I already have the vanilla card, would it be worth downgrading to gold and applying for the Charles Schaub? I don’t currently have any other AMEX charge cards and just looking how to maximize my benefits without losing out on SUBs either.
MS used to credit back the fee if you had enough $ in their managed funds. That quietly went away in 2021 or 2022, which is unfortunate. I have since left MS, and now that annual fee has me thinking of getting rid of the plat all together.
As a Morgan Stanley employee the card isn’t worth it. If you solely just want the “free” card. Current interest rates would get you more off 25k in a savings account than having in that checking for the 695.
@@aaronlee4913 and if it ever goes under like 2.5% it’ll be a decent option but until then for the amount you have to have left there you can get the cost of the vanilla and an au from a savings account
@@OfficialDanielGarcia all you got to do is transfer 5k from other institutions and wait for a week then transfer it back to avoid $55 monthly fee. I’ve been doing this since I got the card.
The one platinum rule kinda sucks because I got a large bonus from the Vanilla Platinum and long term wanted to get the CS Platinum because I bank with Schwab. Is it even worth a 5/24 slot?
I am personally going to apply for the Schwab Platinum because it currently only has a $6k spend requirement as oppose to the $8k on the vanilla; some may think it is not much, but the $2k difference is an opportunity cost. Further, I currently already have a relationship with Schwab that would qualify me for the appreciation bonus.
Wow! I can't believe Amex didn't get wind of that. I don't blame you, take advantage before they raise it to $8k. That $2k savings could pay for the Platinum annual fee for 2.87 or almost 3 more years.
Anybody open a MS IRA? Curious if there is a minimum. I don't mind throwing $500 in there to get the MS Plat esp since the T&C still doesn't state anything about the 1 Plat Rule yet.. I am in pop-up jail though so gotta wait till that ends (assuming that applies to the MS card as well).
I already have a platinum card and just got an offer for 150k points to sign up for the business version. Am I missing something? Will I still get the points?
Hey sebby, for the last bit.. I thought we were only allowed to get one amex plat bonus? What's the point for opening multiple platinum cards now, ie. Vanilla and then moving to the cobranded versions?
Great video sir I think I would stay w/the vanilla too many moving parts lol. Question I have the gold the vanilla and the business blue plus I want to cancel the gold it’s not getting the value I thought I would get if I cancel the gold will I lose my points or will I be able to keep. Thanks for sharing keep the content coming 🧃
As long as you still have MR earning cards in the same account, canceling a card will not lose the points. If you cancel your *last* card that earns MR points, yeah, *poof*.
Last call for Amex Green increased offer (8/23): www.asksebby.com/credit-card-reviews/american-express-green-card
How to find an elevated Amex Plat Offer: www.asksebby.com/guides/amex-plat-cardmatch
💳 Sebby's Card Picks: www.asksebby.com/credit-cards
😊😊😊
Sebby knows a lot, but not a lot about ice cream 😂
🍦 very true
LOL
You’re doing a real service with your videos. It can be incredibly overwhelming when you’re first starting out. Which card will work best for me? What do I do with all of these points? Which one can I qualify for? Will I be net positive if I get this card? There’s so many questions, and the answers aren’t always easy. I used your calculator to decide which card would work best for me, and I really cannot thank you enough. You made the choice really simple.
I like the Schwab. The annual relationship bonus makes it easier to offset the high annual fee if you have enough money invested with them.
The Charles Schwab Platinum will work for me.
The MS Plat no longer makes sense for me. You basically put 25k away and get pennies a month in interest. Put that in a high yield savings account and the interest comes out to more than the annual fee. Win win win.
Agree!
MS has a HYSA
I’m team Schwab but was able to do it before the one platinum rule.
You can still have multiple can't you? just can't get the SUB
I have the MS card from the Access Investing before it closed off, and I didn’t know about cashing out for 1 cpp. Might need it for my college ring 😂 Edit: i have the cash plus account and don't meet the fee waiver, but I got the 695 bonus the January after I got my card (Right before they closed Access) so I'm essentially paying a 650 annual fee instead. I got very lucky with how things played out
My employer used eTrade for stock (associate purchases and RSUs) - and that is now changing over to a full fledged Morgan Stanley account instead of eTrade, I’m hoping that qualifies for the MS Platinum because makes hitting and maintaining the minimums easy.
I don’t have any AMEX card and obviously after watching your videos I’m planning on getting the platinum as my first AMEX.
I’m bummed to hear now that you can only have one platinum card, and obviously I would get the plain vanilla one first to see if I’m targeted for that 100K offer and eventually get the Schwab one, since I am already a customer.
I see those MKBHD sneakers in the background 👍🏿
The annual cost of this card is high and the rewards for those of us who do not live in a major metro city are limited so many of the benefits are somewhat wasted. Now retired it makes no sense. Even when I owned a small business before retiring, Chase Ink was a much better deal.
I’ve had issues with my current broker and because we dipped our toes into the travel cards with the Venture X, we’re now moving to MS so we can have the MS Amex for free with a free AU.
This only makes sense because we found an advisor we like one of the local MS firms. Otherwise, I wouldn’t even consider it and just keep my Venture X.
Very helpful video. You really broke down the pros and cons of each of the cards. Thank you.
At this point, I'm just old vanilla and that's absolutely fine with me LOLOL😊
Thank you seby for the update
So today I'm looking at card spend backdoor IRAs and this video comes up!
Hellooo!! :)
Not sure that you could justify the MS platinum with the number of hoops involved. The whole cash plus fee waiver thing is a pretty big opportunity cost with interest rates as they are (vs even a HYSA for that $25K). Plus you get a 1099 for your trouble on that.
Was worth considering in the past before the $25k requirement.
You don’t get the 1099 if you spend 1k on the card
👍 for the algorithm. 🤙🏼 Thank you
Thanks :)
I have the Morgan Stanley. I consolidated some retirement accounts in there and I keep the $25K average balance which gets rid of the fee. Opportunity cost is I could invest some of that money or stick it in a savings account but I prefer to have some cash around anyway just as a cushion in case something goes awry. The AAA account doesn't have a minimum actually but it does have the $150 fee but I really just use the IRA account. Everything is in an index fund so it's set and forget. I managed to get this before they got rid of the bonus so I got my points from it. It was a lot of hoops but I'm sort of glad to have my retirement accounts there for now.
Personal Platinum I got the easy way. Upgrade offer from the Gold Card 😄
You can say I had a Platinum spoon😂
Maybe do one comparing the business plat and the others. Also does the 1 plat thing apply to the business plat?
We have our company 401k with TD which is now being absorbed into Charles Schwab; wonder if those accounts will be eligible for the appreciation bonus.
Everything I’ve read indicates it will. We’ll find out in a few weeks!
I see MS as the best
You get some identity protection and a free AU along with a card that's $35 cheaper
🧃great content as usual!
Is there a Juicebox emoji
Informative as always!
Got the MS card and I absolutely love the perks 😊
Nice!
Would I be able to turn the 80,000 sign up into Schwab deposit?
Sebby, I spoke to a MS financial advisor last week and said I could open a savings account under the AAA that would Essentially cover the required brokerage account for the engagement bonus of $695.
Gona run the Gold + Green + BBP
But eventually I want the business plat.
AmEx has already sent me a 110k offer on the biz gold & 150k offer on the biz plat. Very tempting 🤔
The toaster reference went over my head
whats the best deal platinum and platinum business or platinum and gold
If I already have the vanilla card, would it be worth downgrading to gold and applying for the Charles Schaub?
I don’t currently have any other AMEX charge cards and just looking how to maximize my benefits without losing out on SUBs either.
Schwab is going to make a lot of sense for people with the Td Ameritrade merger completing if you have >250k
MS used to credit back the fee if you had enough $ in their managed funds. That quietly went away in 2021 or 2022, which is unfortunate. I have since left MS, and now that annual fee has me thinking of getting rid of the plat all together.
As a Morgan Stanley employee the card isn’t worth it. If you solely just want the “free” card. Current interest rates would get you more off 25k in a savings account than having in that checking for the 695.
But the high interest rate is not going to stay forever though.
@@aaronlee4913 and if it ever goes under like 2.5% it’ll be a decent option but until then for the amount you have to have left there you can get the cost of the vanilla and an au from a savings account
What about just paying the $55 a month ? Don’t you still come out positive?
@@OfficialDanielGarcia all you got to do is transfer 5k from other institutions and wait for a week then transfer it back to avoid $55 monthly fee. I’ve been doing this since I got the card.
@@OfficialDanielGarcia at that point you might as well pay the af and get the Schwab 55x12 is 660
I just got a Retention offer from vanilla version(not much)
What’s the credit score need to get approved I have 765 experian at the moment
So today I'm looking at card-funded backdoor IRAs and this video comes up!
Is the business platinum also a part of this or is it still its own separate product?
Separate product
You didn't mention the business platinum. Is that affected by the new one bonus rule?
That was going to be one of my next cards.
Different products, not impacted.
Walmart+ .10 cents off gas and feee grocery delivery
Don't have the juice box but great video, very informative
Thanks for watching!
The one platinum rule kinda sucks because I got a large bonus from the Vanilla Platinum and long term wanted to get the CS Platinum because I bank with Schwab. Is it even worth a 5/24 slot?
Are any of the non vanilla platinum cards considered an advantage to getting invited to the Centurion card?
No, they would still need the same criteria.
I am personally going to apply for the Schwab Platinum because it currently only has a $6k spend requirement as oppose to the $8k on the vanilla; some may think it is not much, but the $2k difference is an opportunity cost. Further, I currently already have a relationship with Schwab that would qualify me for the appreciation bonus.
Wow! I can't believe Amex didn't get wind of that. I don't blame you, take advantage before they raise it to $8k. That $2k savings could pay for the Platinum annual fee for 2.87 or almost 3 more years.
Are there multiple versions of the Centurion card?
Personal and Business
Anybody open a MS IRA? Curious if there is a minimum. I don't mind throwing $500 in there to get the MS Plat esp since the T&C still doesn't state anything about the 1 Plat Rule yet..
I am in pop-up jail though so gotta wait till that ends (assuming that applies to the MS card as well).
I already have a platinum card and just got an offer for 150k points to sign up for the business version. Am I missing something? Will I still get the points?
- nope separate products. Just like many have the personal & biz gold cards
Would like to see an updated, "whats in our wallets" video
Coming soon! :)
#1 🥇🥇
Turn on Ask Sebby bell notifications
First! :)
I read the annual fee is going up to 799.00
That’s for Canada.
I am pretty sure the $799 annual fee is for the Canadian version which still ends up below $695 USD
Hey sebby, for the last bit.. I thought we were only allowed to get one amex plat bonus? What's the point for opening multiple platinum cards now, ie. Vanilla and then moving to the cobranded versions?
Cash out ability via Schwab or if you meet the Morgan Stanley requirements to get the extra perks.
@@AskSebby ahh so that segment was just for endgame choices rather than maxing out signup bonuses?
They will approve anyone with the $650 annual fee to flush down the toilet.
👍🏽👍🏽👍🏽👍🏽👍🏽
I’m hearing bad news on the AMEX platinum. I will close the card by the end of the year
4
3rd?
🥉
4th?👀😂
Second
🥈
695. 🍦
🍦 😋 😋
🍦
Great video sir I think I would stay w/the vanilla too many moving parts lol. Question I have the gold the vanilla and the business blue plus I want to cancel the gold it’s not getting the value I thought I would get if I cancel the gold will I lose my points or will I be able to keep. Thanks for sharing keep the content coming 🧃
As long as you still have MR earning cards in the same account, canceling a card will not lose the points. If you cancel your *last* card that earns MR points, yeah, *poof*.
🧃 Not interested in the Platinum card - - - any variety. Oh by the way, can I trade my apple juice for a cranberry juice? 😛
You the man 🧃 Sebby.I have leaned so much with your videos keep up the great work.
Thanks! Will do!
🧃
🧃Thanks!
@AskSebby do Charles Schwab employees get a discount on the co-branded Amex Platinum card? 🧃
🧃🧃
Juice 🧃
🧃 😎👍🏼
whats the best deal platinum and platinum business or platinum and gold
🧃
🧃
🧃🧃🧃🧃
🧃
🧃🧃🧃
🧃🧃🧃🧃
🧃
🧃🧃🧃
🧃
🧃
🧃
🧃