[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"