Review of this card anyone? It's the new cashback credit card Schwab announced today that will give 2% cashback on all purchases. The negative is that you will need a Schwab brokerage account in order to get the card and your cashback/rewards will be credited to your Schwab brokerage account only. The card does not offer any higher rebates on other categories. I believe this is the only other credit card with 2% cashback on all purchases.
In my opinion though this is not a good deal when you really look at it. The difference between 2% cashback and 1.5% cashback which the Amex Blue Cash
offers is only $5 more in rewards per $1,000 in spending. Meanwhile the Blue Cash is giving 5% on gas, groceries, drugstores. When you look at spending dollar for dollar, the spender with the Blue Cash only has to spend $100 per month total at gas/grocery/drugstore to get an extra $5 a month in rebates. So unless you spend absolutely no money at all on gas, groceries, and drugstores then there is no point in having the Schwab First Invest Visa card.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.
Current Cards: American Express:
Blue Cash, Simply Cash Bank of America:
WorldPoints Platinum Plus Chase:
Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi:
Thank You Premier, Dividend Platinum Select Discover:
MorePrimary Everyday Card: American Express Blue CashPrimary Travel Card: Chase Sapphire Preferred