[tentonwire]

As another owner of this card, I have to note that Schwab is no longer "subsidizing" this card, and has completely been disassociated from it. I believe the reason was that they weren't making any money off of it, but my memory is a bit foggy now.

It is now serviced by FIA Services, no longer available to new customers, and of course terms and conditions are subject to change. So far, nothing has changed, but still, the point is that this card was and is an anomaly.

[encoderer]

The card doesn't stand alone, though. The point is there are tertiary banks that are more consumer friendly. Schwab, yes, and for them the credit crisis put their 2% card on the chopping block. But another tertiary bank, Fidelity, still offers the card that's always been like the Sister Card for the Schwab Visa: The Fidelity Amex is also an FIA card that is nearly identical in terms. It's reward structure involves tiers but it's very clearly a 2% card. And it has a 1% FETF.

Aside from that, it's identical.

And it doesn't change the fact that Schwab put together the terms of this card (certainly with the help of FIA) and that a more traditionally mainstream bank has not.

I also have the British Airways Chase card that literally has netted me a free Biz Class ticket to Europe. Very generous. But that's a signing bonus. If I were to keep this card as my daily-driver for a couple years Chase would make a lot more money off me than Schwab ever would've off the card that's now the "FIA Cash Rewards Visa"