The Schwab cards are available:http://www-qa.schwab.com/public/schwab/ ... edit_cards
They look about as underwhelming as expected. The Platinum one is the only one that might possibly be decent if you have sizable assets for the relationship statement credit. If so, it reduces the AF quite a bit. Otherwise just a regular Platinum card. There's a "deposit MR into Schwab" feature at 1.25 CPP but if you're doing that you may as well just use a cash back card for 2% and deposit it on your own.
There's also a 1.5% cash back Schwab card, but there's no advantage to it over many other products with no restriction on what you do with the rewards (i.e. forced deposit into Schwab).
Edit: Some people are saying you can't actually apply yet, just that the page is up.