Amex Schwab Platinum Cardholders Having Issues Cashing Out Points

The American Express Charles Schwab Platinum card provides an additional benefit that other Amex Platinum cards do not have. With this card you can cash out 1,000 Membership Rewards points for $12.50. That is not the best value you can get for your Membership Rewards, but it is still a great option for those who prefer cash.

But there are some issues right now with cashing out their points (data points from reddit). After a points transfer is initiated, the points transfer and are deducted from the Membership Rewards balance but not showing up in the Schwab account. Seems the issues have started in the last few days, probably since July 26.

This is something that has happened occasionally in the past, and often it is resolved by American Express. I expect the same to happen this time as well, but this is just a heads up for those who might be worried after not seeing the cash in their accounts in a timely manner.

Let me know if you did any transfers recently.