Schwab Investor Card fit for me?

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RidgeRacerJM
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Schwab Investor Card fit for me?

Postby RidgeRacerJM » Thu May 05, 2016 11:13 am

I already have the 1.5% card from Capital One.... Not sure if 1.5% directly deposited into my Schwab Account would make a big difference... Should I skip it? Not sure what questions I should be asking myself in regards to this card.

Thanks to the replies in advance.
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CarefulBuilder14
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Re: Schwab Investor Card fit for me?

Postby CarefulBuilder14 » Thu May 05, 2016 11:36 am

RidgeRacerJM wrote:I already have the 1.5% card from Capital One.... Not sure if 1.5% directly deposited into my Schwab Account would make a big difference... Should I skip it? Not sure what questions I should be asking myself in regards to this card.

Thanks to the replies in advance.

Are you likely to spend the accumulated rewards from Capital One unproductively? Would money going directly to your Schwab account make you less likely to waste it?

Unless the direct deposit makes it easier to keep good money habits, the card's only improvements are the $100 bonus and sometimes-useful Amex Offers.

What do you do with your MRs from Amex PRG? If you get good value from the points as airline miles, maybe you won't have much use for a 1.5% cash Amex.
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Tubpbs
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Re: Schwab Investor Card fit for me?

Postby Tubpbs » Thu May 05, 2016 12:30 pm

CarefulBuilder14 wrote:
RidgeRacerJM wrote:I already have the 1.5% card from Capital One.... Not sure if 1.5% directly deposited into my Schwab Account would make a big difference... Should I skip it? Not sure what questions I should be asking myself in regards to this card.

Thanks to the replies in advance.

Are you likely to spend the accumulated rewards from Capital One unproductively? Would money going directly to your Schwab account make you less likely to waste it?

Unless the direct deposit makes it easier to keep good money habits, the card's only improvements are the $100 bonus and sometimes-useful Amex Offers.

What do you do with your MRs from Amex PRG? If you get good value from the points as airline miles, maybe you won't have much use for a 1.5% cash Amex.


What he said.

Plus, reversing your question... Why do you want the card? You seem to be trying to identify a way to need the card.
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takeshi
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Re: Schwab Investor Card fit for me?

Postby takeshi » Thu May 05, 2016 12:47 pm

^ This. Start with your needs. Use that to find cards that suit you. Don't select a card or creditor and then try to find justifications. Pretty much like any other selection process on any topic.

RidgeRacerJM wrote:I already have the 1.5% card from Capital One.... Not sure if 1.5% directly deposited into my Schwab Account would make a big difference... Should I skip it? Not sure what questions I should be asking myself in regards to this card.

It's pretty straightforward from a rewards perspective. 1.5% isn't more than 1.5%. The other things you should consider all depend on your specific needs/wants. Selecting a card isn't just about the card itself. Give us info on your needs and wants and we can provide feedback if you don't think you can perform the analysis yourself or if you want assistance.

TheSwarm
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Re: Schwab Investor Card fit for me?

Postby TheSwarm » Thu May 05, 2016 1:13 pm

I think I'm in the same boat as you.

I made it my goal not to get anything less than 2% back on all of my spending. So my main cards are the Sallie Mae, Freedom, and Citi Double Cash for everything else that doesn't fit the 5% of the other 2.

I do bank with Schwab and I think I have been wanting to find reasons to get this card but in reality I would probably just spend $1,000 for the sign up bonus and then throw it in the drawer because the Citi Double Cash is a better catch all card for me.



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