American Express® Platinum for Morgan Stanley vs American Express® Platinum for Schwab
Side-by-side comparison
| American Express® Platinum for Morgan Stanley | American Express® Platinum for Schwab | |
|---|---|---|
| Annual fee | $895 | $895 |
| Welcome offer | 80,000 Membership Rewards® Points | 80,000 Membership Rewards® Points |
| Dining | 1x | 1x |
| Groceries | 1x | 1x |
| Gas | 1x | 1x |
| Travel | 5x | 5x |
| Streaming | 1x | 1x |
| Everything else | 1x | 1x |
| Est. yearly rewards* | $364 | $364 |
| Points type | Transfers to airlines & hotels | Transfers to airlines & hotels |
| Network | Amex | Amex |
*Estimated yearly rewards on typical household spending, every point valued at a flat 1 cent. Verified August 2026. See your own numbers in the calculator.
Welcome bonus and value over time
| Over time | American Express® Platinum for Morgan Stanley | American Express® Platinum for Schwab |
|---|---|---|
| Welcome bonus | 80,000 Membership Rewards® Points | 80,000 Membership Rewards® Points |
| To earn it | $12,000 in 6 months | $12,000 in 6 months |
| Est. first-year value* | $3,333 | $3,333 |
| Est. ongoing value / yr* | $2,533 | $2,533 |
The American Express® Platinum for Morgan Stanley wins on both fronts: it comes out ahead in year one on the welcome offer and stays ahead every year after. Short term or long, it is the stronger pick on the numbers.
*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent.
Perks, credits, and redemptions
| Perks | American Express® Platinum for Morgan Stanley | American Express® Platinum for Schwab |
|---|---|---|
| Lounge access | Yes — Centurion, Priority Pass, Delta Sky Club | Yes — Centurion, Priority Pass, Delta Sky Club |
| Annual credits | ~$3,064/yr (12 credits) | ~$3,064/yr (12 credits) |
| Points & redemptions | Transferable to airline & hotel partners | Transferable to airline & hotel partners |
The two are closely matched on perks and redemptions, so the welcome offer and everyday earning above are what should decide it.
Transfer partners and point value
Both cards earn Amex Membership Rewards, so they transfer to the identical partners at the same ratios, headlined by Delta, ANA, Air France-KLM Flying Blue, Virgin Atlantic, plus Hilton and Marriott. On transfers there is no difference between them; the choice comes down to earning and perks, not where the points can go.
The verdict
On a typical year of household spending, the American Express® Platinum for Morgan Stanley earns about $364 a year in rewards and the American Express® Platinum for Schwab about $364, valuing every point at a flat 1 cent. The American Express® Platinum for Morgan Stanley charges $895, but carries about $3,064 in annual statement credits that offset it for anyone who uses them. The American Express® Platinum for Schwab charges $895, but carries about $3,064 in annual statement credits that offset it for anyone who uses them. These two are about as close as cards get: their category rates line up almost exactly, they sit in the same fee tier, and on that spending they finish within a few dollars of each other. The choice is not really about the rewards rate. Both earn transferable points rather than flat cash, so the deciding factor is whose transfer partners reach the airlines and hotels you would actually book. On the sign-up bonus, the two are currently comparable in size. A welcome bonus is a one-time event, so weigh it apart from the ongoing rewards.