Morgan Stanley Amex Platinum: New 125K Welcome Bonus with $6K Spend

Morgan Stanley Amex Platinum 125K

Morgan Stanley Amex Platinum, 125K Welcome Bonus

🔃 Update – This offer is available once again through November 8, 2023. I don’t see any lifetime language restriction in the terms. Here are the details:

  • Earn 125,000 Membership RewardsÂŽ Points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership.
  • Annual Fee: $695
  • Obtain one Additional Platinum Card for no additional annual fee. After the first Card, each Additional Platinum Card is $195. There is no annual fee for Companion Platinum Cards.
  • DIRECT LINK 

HT: DoC


The Platinum Card from American Express exclusively for Morgan Stanley is one of the least talked about flavors of the Amex Platinum card. But right now, you can get the same big welcome bonus as the Schwab Platinum Card. This card does have some extra perks, such as the possibility of waiving the annual fee, adding an authorized user for free, and redeeming points for 1 cent each. Let’s see how this offer works.

Update (Jul. 1, 2021) – Annual fee is now up to $695, and so is the Annual Engagement Bonus. CashPlus account fee going up to $55 per month, effective 02/01/2022.

Offer

  • Earn 100,000 Membership Rewards points will be credited to your account after you charge a total of $6,000 or more of eligible purchases on your Platinum Card from American Express Exclusively for Morgan Stanley from American Express within the first 6 months.
  • Earn 10x points on eligible purchases with your new Platinum Card from American Express Exclusively for Morgan Stanley at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership. That’s an additional 9 points on top of the 1 point you earn for these purchases as a benefit of the Card.
  • Annual Fee: $695
  • Obtain one Additional Platinum Card for no additional annual fee. After the first Card, each Additional Platinum Card is $195. There is no annual fee for Companion Platinum Cards.
  • DIRECT LINK 

Eligibility

The Platinum Card® from American Express exclusively for Morgan Stanley is only available for clients who have an eligible Morgan Stanley Smith Barney LLC brokerage account (“eligible account”). Eligible account means a Morgan Stanley Smith Barney LLC brokerage account held in your name or in the name of a revocable trust where the client is the grantor and trustee, except for the following accounts: Charitable Remainder Annuity Trusts, Charitable Remainder Unitrusts, irrevocable trusts and employer-sponsored accounts. Eligibility is subject to change. American Express may cancel your Card Account and participation in this program, if you do not maintain an eligible account.

Waiving Annual Fee

You can get the annual fee waived on the Morgan Stanley Amex Platinum with an eligible Morgan Stanley investment account and one of Morgan Stanley’s Platinum CashPlus accounts. This is done in the form of a $695 Annual Engagement Bonus. 

The cheapest investment account is a Morgan Stanley Access Investing account (new link available). It requires a minimum investment of $5,000. The annual fee for that account is 0.3 percent of your assets under management, which would be $15 for $5,000. The CashPlus account is free if you receive at least $5,000 in monthly deposits (or any amount of social security benefits) and maintain an average daily balance of at least $25,000. If not, the monthly account fee is $45 (going up to  $55 per month on 2/1/22). Even if you pay the monthly fee, it is slightly cheaper than the new $695 annual fee. 

You also need to spend at least $1,000 on your Morgan Stanley Amex Platinum each year in order to avoid taxes on the $695 annual fee rebate. If you do not meet a minimum spending requirement of $1,000 on your Platinum Card from American Express Exclusively for Morgan Stanley, then Morgan Stanley may be required to report the $695 Annual Engagement Bonus as taxable income on your Form 1099.

Card Details

Unlike other versions of the Platinum Card, Morgan Stanley Amex Platinum cardholders can add one free Additional Platinum Card.

Also, American Express Membership Rewards points are worth 1 cent each when they’re redeemed into an eligible Morgan Stanley account. You can also redeem points to cover charges on your card, but you only get 0.6 cents per point that way.

Guru’s Wrap-up

This is yet another big bonus that you can get from a different flavor of the Amex Platinum card, before the rumored fee increase. With the Morgan Stanley Amex Platinum card you can have the annual fee waived, you can cash out points at 1 cent each which is better than the 0.6 cents for the regular Amex Platinum, and you can add the first authorized user for free. The downside is that you need to have money locked in the Morgan Stanley accounts.

8 thoughts on “Morgan Stanley Amex Platinum: New 125K Welcome Bonus with $6K Spend”

  1. What do you need to qualify? Are there any free accounts that work? The free AU makes it much better that regular Platinum Card for couples.

  2. Just curious if the sign-up bonus is capped at 125K or if there is potential for a larger one for greater spend like there are for other versions of the Platinum card.

  3. I signed up for Access Investing and deposited the $5k back in September. Amex denied me saying that I didn’t have the proper account type with MS. However, calling MS and they said I did qualify based upon my Access account with them. I’ve called amex, given my account number several times and they keep saying they will investigate it, but Amex has never emailed or mailed me.

    1. You can get the annual fee waived on the Morgan Stanley Amex Platinum with an eligible Morgan Stanley investment account and one of Morgan Stanley’s Platinum CashPlus accounts. This is done in the form of a $695 Annual Engagement Bonus.

      The cheapest investment account is a Morgan Stanley Access Investing account.

    1. The bonus is worth $1,250 at least, and you can add a free Platinum authorized user. It’s worth it for the first year for sure.

  4. Note that they removed the language about the $1,000 minimum spending to avoid tax reporting, instead saying that MS “may” be required to report it.
    Previously, the worst case for the CashPlus was a very slight discount: pay $45/mo ($540/yr) for a $550 credit, you get the money up front (potentially earning interest), and you get an awesome checking account (purchase protection, refunds all fees anywhere, etc.). Now that discount goes up to $35 ($660 vs $695), but the potential tax of ~$150 makes it a negative.

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