Does Schwab's version of the Cash Magnet card have any advantages over the regular (non-co-branded) Cash Magnet? Such as the ability to deposit rewards into a Roth IRA?I have done it back when the cash out was 1.25 cents (it is now 1.1 cent) during Covid when travel was non-existent but I personally value MR closer to 2 cent for transfer to other award programs to redeem for tickets in premium cabins. I also have access to megabackdoor Roth at my employer so this is less valuable to me but I can see where others would see value in it.Is anyone using the Schwab Amex Platinum to deposit points into a Roth IRA? Apparently, they have intentionally been coded as bank bonuses, which therefore doesn't count as a contribution. Increasing tax exempt space is a pretty wild value.
Statistics: Posted by zero_coupon — Sun Jul 14, 2024 10:36 am — Replies 82 — Views 6134