The Platinum Card® from American Express Exclusively for Morgan Stanley is a highly sought-after credit card, offering a wealth of premium benefits. However, its significant annual fee can be a deterrent for some. The good news is, for eligible Morgan Stanley clients, there's a distinct pathway to potentially offset this fee entirely. This lengthy guide will walk you through the process, step by step, engaging you from the very beginning.
Ready to unlock luxury travel and lifestyle perks without the burden of the annual fee? Let's dive in!
Understanding the Morgan Stanley Amex Platinum Card and Its Unique Fee Waiver Opportunity
Before we get into the "how-to," let's clarify what makes the Morgan Stanley Amex Platinum so special and why a fee waiver is even possible. Unlike the regular Amex Platinum Card, the Morgan Stanley version is specifically designed for clients with an eligible Morgan Stanley brokerage account.
The key to the fee waiver lies in a unique benefit offered by Morgan Stanley: the Annual Engagement Bonus. For clients with a specific type of account, this bonus can perfectly counteract the card's annual fee.
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| How To Get Morgan Stanley Amex Platinum Fee Waived |
The Annual Fee and the Engagement Bonus
As of mid-2025, the annual fee for the Morgan Stanley Amex Platinum Card is typically $695. The Annual Engagement Bonus, for eligible Morgan Stanley Platinum CashPlus account holders, also amounts to $695, effectively making the card free if you meet the criteria.
Step 1: Are You an Eligible Morgan Stanley Client? Let's Find Out!
This is where your journey begins. Are you already a Morgan Stanley client? If not, that's your very first hurdle.
Sub-heading: The Foundation: An Eligible Morgan Stanley Brokerage Account
To even apply for the Morgan Stanley Amex Platinum Card, you must have an eligible Morgan Stanley brokerage account. This is non-negotiable.
QuickTip: Read section by section for better flow.
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What qualifies as "eligible"? Generally, it means a brokerage account held in your name, or in the name of a revocable trust where you are both the grantor and trustee. Certain types of accounts, like charitable trusts, are typically excluded.
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Actionable Tip: If you're unsure if your current Morgan Stanley account qualifies, or if you're not yet a client, your first step is to contact Morgan Stanley directly. Speak with a financial advisor or customer service representative to understand the requirements and discuss opening an eligible account if needed. This could involve self-directed brokerage, discretionary/non-discretionary advisory, or AAA accounts.
Step 2: Getting Your Feet Wet with Morgan Stanley Online
Once you have an eligible Morgan Stanley brokerage account, the next step is to ensure you have access to their online platform.
Sub-heading: Enrolling in Morgan Stanley Online
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If you're a new client, you'll likely be enrolled in Morgan Stanley Online automatically.
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If you're an existing client but haven't used the online portal much, now's the time to get familiar with it. This portal will be crucial for managing your accounts and, eventually, for verifying your eligibility for the Platinum CashPlus account.
Step 3: Patience is a Virtue – The Waiting Game
After establishing your brokerage account and online access, a brief period of waiting is often recommended.
Sub-heading: Allowing Time for Account Recognition
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It's generally advised to wait about 30 days after setting up your eligible Morgan Stanley brokerage account. This allows Morgan Stanley's systems to fully recognize your new investment relationship, which is a prerequisite for the next crucial step.
Step 4: Unlocking the Platinum CashPlus Account: The Gateway to the Waiver
This is the most critical step for securing the fee waiver. The $695 Annual Engagement Bonus is tied specifically to the Morgan Stanley Platinum CashPlus account.
Tip: Don’t skip — flow matters.
Sub-heading: Applying for the Platinum CashPlus Account
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Once the waiting period in Step 3 is complete, you should now be eligible to open a Morgan Stanley Platinum CashPlus account.
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This account is distinct from your brokerage account and serves as a cash management account. It's designed to seamlessly integrate with your investment portfolio.
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Important Note: The Platinum CashPlus account typically has a monthly fee of $55. However, this fee can also be waived if you meet certain criteria (which we'll discuss next).
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Actionable Tip: Navigate through your Morgan Stanley Online portal or contact your Morgan Stanley advisor to initiate the application for a Platinum CashPlus account.
Step 5: Waiving the Platinum CashPlus Account Fee (and indirectly, your Amex Platinum Fee!)
This is where the magic truly happens. By waiving the monthly fee on your Platinum CashPlus account, you solidify your eligibility for the $695 Annual Engagement Bonus, which in turn offsets your Amex Platinum annual fee.
Sub-heading: Meeting the CashPlus Fee Waiver Criteria
To waive the $55 monthly fee for the Platinum CashPlus account, you generally need to satisfy two primary conditions:
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Recurring Monthly Deposit: You need to have a recurring monthly direct deposit into your Platinum CashPlus account. This amount is typically $5,000 or more.
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Strategic Insight: While the requirement is for a "recurring monthly deposit," some individuals have successfully met this by transferring $5,000 into the account and then withdrawing it within the same month, as long as the average daily cash balance is maintained. Always verify the latest terms and conditions directly with Morgan Stanley.
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Average Daily Cash Balance: You must maintain an average daily cash balance of $25,000 or more within your Platinum CashPlus account.
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Consideration: This means $25,000 of your funds will be held in a cash account, which typically offers a very low interest rate. You'll need to weigh the opportunity cost of having this money in a low-yield account against the $695 annual fee waiver.
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Sub-heading: Linking Your Morgan Stanley Accounts
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Ensure that all your eligible Morgan Stanley accounts (your brokerage account and your new Platinum CashPlus account) are linked together in the same "Account Link Group" (ALG). This groups accounts with the same mailing address for online access and statement purposes, helping to streamline the process for the engagement bonus.
Step 6: Applying for the Morgan Stanley Amex Platinum Card
With your eligible brokerage account established and your Platinum CashPlus account set up (and ideally, its monthly fee waived), you're now in the prime position to apply for the Morgan Stanley Amex Platinum Card.
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Sub-heading: The Application Process
QuickTip: Use posts like this as quick references.
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You can typically apply for the card directly through the Morgan Stanley website, or through a link provided by your Morgan Stanley financial advisor.
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American Express will verify your eligible Morgan Stanley account status during the application process.
Step 7: Enjoying Your Fee-Waived Platinum Benefits!
Once approved, you'll receive your Morgan Stanley Amex Platinum Card. The $695 Annual Engagement Bonus from Morgan Stanley will typically be credited to your account, effectively offsetting the annual fee.
Sub-heading: Maximizing Your Card's Value
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Even with the fee waived, remember to leverage all the incredible benefits the Amex Platinum card offers:
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5x Membership Rewards points on flights booked directly with airlines or AmexTravel.com and on prepaid hotels booked through AmexTravel.com.
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Annual airline fee credits, Uber credits, Saks Fifth Avenue credits, digital entertainment credits, and more.
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Access to exclusive airport lounges (Centurion Lounges, Priority Pass, Delta Sky Clubs when flying Delta).
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Elite status with hotel programs like Marriott Bonvoy and Hilton Honors.
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And much, much more!
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Important Considerations and Potential Downsides
While the fee waiver is a fantastic perk, it's essential to consider some aspects:
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Opportunity Cost of Cash Balance: The $25,000 average daily cash balance in the Platinum CashPlus account will likely earn minimal interest. You need to assess if the $695 fee waiver justifies tying up this capital.
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Complexity: The process involves multiple steps and requires active management of your Morgan Stanley accounts.
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Eligibility Changes: Morgan Stanley and American Express policies can change. Always verify the latest requirements and terms directly with both institutions.
10 Related FAQ Questions
How to Confirm My Morgan Stanley Account Eligibility for the Amex Platinum Card?
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Contact your Morgan Stanley financial advisor or their customer service directly. They can confirm if your current brokerage account meets the criteria for applying for the Morgan Stanley Amex Platinum Card.
How to Open a Morgan Stanley Platinum CashPlus Account?
Tip: Use the structure of the text to guide you.
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Once you have an eligible brokerage account, you can typically apply for a Platinum CashPlus account through the Morgan Stanley Online portal or by speaking with your financial advisor.
How to Waive the Monthly Fee for the Morgan Stanley Platinum CashPlus Account?
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To waive the $55 monthly fee, you generally need to maintain an average daily cash balance of $25,000 and have recurring monthly direct deposits of $5,000 or more into the account.
How to Ensure I Receive the $695 Annual Engagement Bonus?
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The $695 Annual Engagement Bonus is automatically provided to eligible Morgan Stanley Platinum CashPlus clients who qualify for the fee waiver on that account. Maintaining the required balances and deposits is key.
How to Check My Average Daily Cash Balance in Morgan Stanley?
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You can monitor your average daily cash balance by logging into your Morgan Stanley Online account and reviewing your Platinum CashPlus account details.
How to Link My Morgan Stanley Accounts for the Best Experience?
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Ensure all your Morgan Stanley accounts (brokerage and CashPlus) share the same mailing address and are grouped within the same "Account Link Group" for seamless integration. You can verify this with your Morgan Stanley advisor.
How to Apply for the Morgan Stanley Amex Platinum Card After Meeting Requirements?
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Once you've established your eligible Morgan Stanley accounts, you can apply for the card via a dedicated link on the Morgan Stanley website or through your financial advisor.
How to Contact American Express Customer Service Regarding My Morgan Stanley Platinum Card?
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You can find the customer service number on the back of your Morgan Stanley Amex Platinum Card or by visiting the American Express website and searching for contact information specific to the Morgan Stanley co-branded card.
How to Maximize the Benefits of the Morgan Stanley Amex Platinum Card?
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Actively use the card for eligible purchases to earn Membership Rewards points, enroll in and utilize all the available statement credits (airline, Uber, Saks, etc.), and take advantage of travel benefits like lounge access and hotel elite status.
How to Reconfirm the Latest Fee Waiver Requirements for 2025 and Beyond?
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Credit card terms and bank policies can change. Always refer to the official American Express Card Member Agreement for the Morgan Stanley Platinum Card and directly contact Morgan Stanley for the most up-to-date requirements for the Platinum CashPlus account and its fee waiver criteria.
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