Schwab Launching Bank Invest First Visa Signature credit card with 2% Cash Back

Schwab is launching a new credit card called the Bank Invest First Visa Signature Card that rebates 2% back on purchases. That's one of the highest rebates percentages I've seen.

Schwab is launching a new credit card called the Bank Invest First Visa Signature Card that rebates 2% back on purchases.  That's one of the highest rebates percentages I've seen.

According to the Wall Street Journal, features include:

  • The card rebates 2% on all purchases. 
  • No cap on the rebate amount you can earn each year.
  • No foreign exchange fees if the card is used overseas.
  • No annual fee or preset spending limits.

To get the card you must first open a Schwab brokerage account.  Customers earh 1 point for every dollar spend.  At the end of each month, the points are converted to cash at the 2% rate and then deposited into the brokerage account.  Brokerage accounts are free and there are no minimums.  From there, you can trade or withdraw the money.

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