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American Express Platinum Card for Schwab: what it earns

Updated September 24, 2026 · from RightCard's verified card and merchant data

American Express Platinum Card for Schwab earns a flat 1x points on everything. We value Amex Membership Rewards at 1.8¢ per point toward travel and 1¢ as cash; the table below shows both readings. Annual fee: $895.

Every category, as published

The everyday rates only. No welcome bonus, no limited-time offers. Where a rotating 5% quarter is live today it is noted in the row.

CategoryEarn≈ value / $1
Restaurants1x points1¢ cash · 1.8¢ travel
Supermarkets1x points1¢ cash · 1.8¢ travel
Gas stations1x points1¢ cash · 1.8¢ travel
Travel1x points1¢ cash · 1.8¢ travel
Online shopping1x points1¢ cash · 1.8¢ travel
Drugstores1x points1¢ cash · 1.8¢ travel
Transit & rideshare1x points1¢ cash · 1.8¢ travel
Streaming1x points1¢ cash · 1.8¢ travel
Everything else1x points1¢ cash · 1.8¢ travel

Travel value uses 1.8¢ per point for Amex Membership Rewards, a conservative figure. Cash redemptions on most points programs pay 1¢ or less.

Where it beats a flat 2% card

Nowhere on published rates alone. Its case rests on credits, offers or the program its points feed, not on the earn rate.

See it against the rest of your wallet →

How RightCard handles this: add the American Express Platinum Card for Schwab in the app and it competes with your other cards at every store, with your bank offers and this quarter's rotating bonus folded in. The app is free and private. No bank login. Recommendations are computed on your phone.

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FAQ

What does the American Express Platinum Card for Schwab earn at supermarkets?

1x points at stores that code as supermarkets. Superstores and warehouse clubs usually do not count.

What does the American Express Platinum Card for Schwab earn on everything else?

1x points on purchases outside its bonus categories.

Is the American Express Platinum Card for Schwab's $895 fee worth it?

Only if the credits and rewards you would actually use add up to more than $895 a year. Our coupon-book tool lets you tick the credits you would use and see the verdict.

How much are American Express Platinum Card for Schwab points worth?

About 1.8¢ each toward travel by our conservative estimate for Amex Membership Rewards, and 1¢ or less as cash.

Where these numbers come from: RightCard's data pipeline re-checks each card's published rates weekly and lists a rate only after two independent sources agree. Merchant codes come from our merchant directory. If a card or store is missing here, it is because we could not verify it, not because we guessed.

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