The limited-time 150,000-point welcome bonus for the American Express Charles Schwab and Morgan Stanley Platinum cards ended on July 8, 2026. Applicants who met the $12,000 spending requirement within six months could have earned a bonus worth $3,000 by our Membership Rewards valuation—one of the richest offers for these Platinum variants in recent years.
Our Take
Bad news for high-value Amex seekers: This was a top-tier Platinum offer, and its expiration means those holding out for a big Schwab or Morgan Stanley bonus will need to wait. At $3,000 in value (using our 2¢/point estimate), this was a rare opportunity for savvy points maximizers—especially those planning to leverage the Schwab cash-out option or Morgan Stanley perks.
What Changed
- Bonus offer: 150,000 Membership Rewards points after $12,000 spend in 6 months (EXPIRED July 8, 2026)
- Previous typical offer: 100,000–125,000 points for the same spend
- Current status: No public 150k offer available as of July 14, 2026
Who Benefited Most
- Schwab Platinum holders cashing out points: With the Schwab Platinum, 150,000 points could be redeemed for $1,650 cash (at 1.1¢/point), or $3,000+ in travel (at our 2¢/point value).
- Morgan Stanley Platinum applicants: Those who opened a Morgan Stanley account and applied in time could stack the bonus with the card’s unique authorized user perks (free AU Platinum card).
- Travelers maximizing FHR and Resy credits: Applying before July 8 allowed cardholders to double-dip on the semi-annual Fine Hotels & Resorts and quarterly Resy/Lululemon credits, easily adding $400–$600 in extra value.
- Points optimizers: Anyone who planned large purchases or tax payments could hit the $12,000 spend and reap the full bonus.
Who Should Be Cautious
- Those who missed the deadline: If you didn’t apply by July 8, you’ll have to settle for a lower bonus or wait for a future promo.
- Low spenders: The $12,000 requirement is steep—casual spenders would struggle to unlock the full bonus.
- Current Platinum holders: Amex’s once-per-lifetime rule means you can’t get the bonus again if you’ve had the same Platinum variant before.
What To Do Right Now
- Check your application status: If you applied before July 8, confirm your approval and track your $12,000 spend progress.
- Monitor for new offers: Keep an eye on targeted Amex Platinum offers—historically, big bonuses return periodically.
- Consider other Platinum variants: The standard Amex Platinum still offers a strong 175,000-point bonus (~$3,500 value, all-time high).
- Plan your credits: If you recently opened a Schwab or Morgan Stanley Platinum, maximize your FHR, Resy, and Lululemon credits this calendar year.
