Charles Schwab: No More Schwab 2% Credit Card OfferOne of the more popular cash back credit cards in recent years was the Charles Schwab credit card with 2% cash back rewards. Ron Leiber of the New York Times recently reported that Schwab is indeed not accepting any new applications for the 2% Schwab cash back credit card offer.

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The Schwab 2% cash back card was popular because it had a simple 2% cash back rewards structure as opposed to other cash back cards that typically offer cash back of anywhere from 1% all the way up to 5% but in different spending categories or even rotating categories. To see what the approximate amount of cash back you could earn based on your monthly spending habits be sure and try out theĀ calculator that analyzes and compares some of the best cash back cards side by side.

The one major downside to the Schwab credit card offer is that even though it has a healthy 2% cash back the entire amount of the cash back must be deposited into a Schwab investment account. If you do not have a Schwab investment account and do not wish to have an investment account at Schwab then the Schwab credit card will of course not be of much use to you.

Existing Schwab credit cardholders will continue to receive 2% cash back but I would venture that this will not last for much longer.

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Some of the best Schwab alternative cash back credit cards to consider include:

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One Response to “Charles Schwab Credit Card w/ 2% Cash Back Rewards is Not Taking New Applications”

  1. I’ve been getting a few of those Chase Sapphire credit card offers in the mail. I’ve been ignoring them, but I think take a 2nd look based on your review of them!

    Thanks for the great review!

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