2% credit card- Charles Schwab Visa ** Card is dead**

Applied, was given the "Thank you for submitting... instant decision cannot be provided at this time". Checked back 20 minutes later or so and got:

"The application for XXXXXXXX has been has been approved with a $12000 credit line! The customer will receive their credit card within 7 - 10 days at the address provided and the Welcome Package in 10 - 14 days at the address provided."

Does anyone know if this card can be used with shopsafe? Shopsafe is supposed to work with FIA cards but I'm only aware of the access page from BoA.

And what happens to the CashBack if the account is not linked to a brokerage account?

I love & have a Schwab checking account. They are simply superb... free checking, free check books, ATM reimbursements... much much better than evil BofA. Time for me to go for the credit card.

If I open all the three accounts (a checking account, linked brokerage account and credit card)at the same time, how can I only get ONE hard pull rather than three hard pulls? Thanks!

Seems like you don't have to open the checking account. From the FAQ it says the brokerage is no min balance no monthly service fee.

Do I have to pay for a Schwab One account?
There are no monthly account service fees and no minimum balance requirements for the Schwab One account when it is linked to your Schwab Bank Invest First card. Standard pricing for equity trade commission rates starts as low as $8.95, and transaction fees may apply.

Ack wasted a pull. They say check back in 48-72 hours!

I just called Schwab and I was told that they will run THREE seperate hard pulls on your credit reports if you open credit card, brokerage and checking accounts with them. I think it will HURT your credit score.

BOA is just horrible. Always pulls a report on any account openning.
I hesitate to apply for his one. it would be at least 2 experian hits on me.

liuandy said: I just called Schwab and I was told that they will run THREE seperate hard pulls on your credit reports if you open credit card, brokerage and checking accounts with them. I think it will HURT your credit score.

I'm trying to find a reason NOT to apply for this card. After reading the site over and over, I can't find one.....

askance said: The FAQ for the card suggests that the Schwab One account is free if you have the credit card"There is no fee to open and maintain an account at Schwab."

And seems that the $1000 minimum balance is indeed not required if you have this CC.

The no pre set limit is a marketing misnomer.

DreamSun said: Where did you check the application status later on?

http://www.schwab.com/public/schwab/banking_lending/credit_card

Look on the right hand column, second box:

Current Cardholder?
Log in to manage your Schwab Bank Invest First or Schwab Bank WorldPoints account.

Check your application status.

servoled said: DreamSun said: Where did you check the application status later on?

http://www.schwab.com/public/schwab/banking_lending/credit_card

Look on the right hand column, second box:

Current Cardholder?
Log in to manage your Schwab Bank Invest First or Schwab Bank WorldPoints account.

Check your application status.

Thanks.

g10ny said: Go ahead for this. I won't this time, I'm still using the 2 years old straight 2% Fido MasterCard linked to a 529 account.
Enough for me.

can you please give me link to apply for this - we are still using AMEX open for business (gives % on cell phone and gas; and 1% for everything else)

thanks in advance

If you don't see your approval online, calling in to the app. phone number (during biz hours) should get you transferred to the excellent FIA/BoA credit analysts. They can reallocate existing lines to open this card if you already have max credit lines with them... this eases the approval process IME.

Gosh!

Pending decision!

Excellent Credit score, but I just moved to a new state no more than 4 months!

new2fatwallet2 said: A question to those who have a brokerage account w/ Schwab. When you get a dividend in the account, do they include details like x-date, pay-date, # of shares that dividend was paid on? Or is it simply an amount with no details?

Just investment name and dollar amount.

Pulling the trigger on this, FICO score be damned. An extra 1% Cash Back > a few points drop in FICO.

My American Express TrueEarnings Costco card is now relegated to a pretty gas card as this Schwab card will be my new honey.

pisistratus said: When do you expect this promotion to end?

I think most are hopeful that this is not a "promotion" and will be a long-term offering from Schwab.

has anyone tried applying as a student yet? if so, were you approved for the visa signature? i don't want to waste a couple hard pulls if they deny my application or give me a low line of credit. any insights into your experience in applying as a student (ie approval/denial, credit limit, visa signature/visa platinum, etc) will be greatly appreciated. also, did you list your student loans as "personal income"?

cheers,
jason