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American Express announces launch of 2 cards co-branded with Charles Schwab

American ExpressCo. on March 31 announced the launch of two cards for clients thatwill offer rewards, benefits and services, including unlimited cash-backfeatures.

The American Express Platinum Card for Schwab allows thebrokerage clients to redeem membership rewards for deposits into a linkedCharles Schwab brokerage account at the rate of 1,000 points for a $12.50 deposit.The card credits customers with 40,000 points in their rewards program accountafter spending $3,000 in eligible purchases on it in the first three months.

The Schwab Investor Credit Card from American Expressprovides unlimited 1.5% cash back on eligible purchase automatically depositedinto an eligible Schwab brokerage account. Customers receive an initial $100credited into the account after spending $1,000 in eligible purchases with thecard in the first three months.