It's an excellent goal to aim for the Morgan Stanley Platinum Card from American Express! This card offers a wealth of premium benefits, particularly for those who already have a relationship with Morgan Stanley. Let's embark on this journey together.
The Prestige of the Morgan Stanley Platinum Card
The Morgan Stanley Platinum Card isn't just another credit card; it's a statement of financial sophistication and a gateway to a world of exclusive perks. Co-branded with American Express, it carries the same renowned travel and lifestyle benefits as the traditional Amex Platinum, with the added advantage of special considerations for Morgan Stanley clients. Think airport lounge access, statement credits for travel and everyday expenses, and elevated rewards on certain purchases. But how do you actually get your hands on this coveted card? Let's break it down.
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| How To Get The Morgan Stanley Platinum Card |
Step 1: Are You Eligible? Let's Find Out!
Before diving into applications, the most crucial first step is to determine if you meet the fundamental requirement: being a Morgan Stanley client.
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The Golden Rule: The Platinum Card® from American Express Exclusively for Morgan Stanley is only available to clients who have an Eligible Account with Morgan Stanley Smith Barney LLC. This is not a card you can simply apply for off the street.
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What Constitutes an "Eligible Account"?
- A brokerage account held in your name.
- A brokerage account held by a trust where you are both the grantor and trustee.
- A brokerage account held as a beneficial owner of a personal holding company, a non-operating limited liability company, a non-operating limited partnership, or a similar legal entity.
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Important Note: E*Trade from Morgan Stanley accounts are not considered Eligible Accounts for the purpose of eligibility for this specific Platinum Card. Eligibility is always subject to change by Morgan Stanley and American Express.
Engage with me: Do you currently have an account with Morgan Stanley? If so, what kind of account is it? This will help us tailor the next steps! If not, don't worry, we'll discuss how to establish one.
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Step 2: Establishing Your Morgan Stanley Relationship (If You Haven't Already)
If you answered "no" or "I'm not sure" to the engagement question above, this step is for you. To get the Morgan Stanley Platinum Card, you must first become a Morgan Stanley client with an eligible account.
Sub-heading: Exploring Morgan Stanley Account Options
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Brokerage Account: This is the most common and direct path. You'll need to open a brokerage account with Morgan Stanley Smith Barney LLC. This allows you to invest in stocks, bonds, mutual funds, and other securities.
- What to expect: You'll likely need to speak with a Morgan Stanley financial advisor to open an investment account. They will guide you through the process, which includes understanding your financial goals, risk tolerance, and investment preferences.
- Minimums: While there isn't a universally published minimum to open a general brokerage account, to truly benefit from the Platinum Card and potentially offset its annual fee, establishing a significant relationship is often implied. Some sources suggest that certain CashPlus accounts (which are brokerage accounts) might require a minimum balance or monthly deposit to waive fees and offer benefits like the annual engagement bonus.
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Morgan Stanley CashPlus Account: This is a popular option that blends banking features with a brokerage account. It's specifically designed for cash management within the Morgan Stanley wealth management framework.
- Why CashPlus? The CashPlus account comes with valuable benefits, and certain tiers, like the Platinum CashPlus Account, can even offer an Annual Engagement Bonus which can offset the Platinum Card's annual fee.
- Platinum CashPlus Eligibility: To qualify for the Platinum CashPlus Account, you typically need to meet criteria such as:
- $5,000 in total monthly deposits AND $25,000 in average daily cash balance (in the Bank Deposit Program).
- An existing eligible Morgan Stanley Investment Account.
- Morgan Stanley Online enrollment.
Sub-heading: Connecting with a Morgan Stanley Advisor
- Online Inquiry: Visit the Morgan Stanley website and look for their "Wealth Management" or "Contact Us" sections. You can often fill out a form to request a consultation with a financial advisor.
- Direct Contact: If you know a Morgan Stanley financial advisor, reach out to them directly. Referrals can sometimes streamline the process.
- Be Prepared: When you connect with an advisor, be ready to discuss your financial situation, goals, and why you're interested in establishing an account. Clearly articulate your interest in the Morgan Stanley Platinum Card as a reason for wanting to open an eligible account.
Step 3: Applying for the Morgan Stanley Platinum Card
Once you have an eligible Morgan Stanley account, you're ready to apply for the card. The application is typically handled through American Express, but it's linked to your Morgan Stanley relationship.
Sub-heading: The Application Process
- Through Morgan Stanley Online: Often, the easiest way to initiate the application is through your Morgan Stanley Online account. Look for links or information regarding the Platinum Card within your account portal or services section.
- American Express Website (Specific Link): American Express has a dedicated application page for the Morgan Stanley Platinum Card. However, you'll still need to verify your Morgan Stanley client status during the application process.
- Information You'll Need: Be prepared to provide standard credit card application information, including:
- Personal details (Name, Address, Date of Birth, Social Security Number).
- Financial information (Income, Employment details).
- Your Morgan Stanley account details to verify eligibility.
Sub-heading: Understanding Creditworthiness
- Excellent Credit is Key: Like all premium American Express cards, the Morgan Stanley Platinum Card requires excellent credit. American Express will conduct a hard inquiry on your credit report. Ensure your credit score is strong (generally 740+ FICO) and you have a solid credit history.
- Income and Assets: While not explicitly stated, your income and the assets held within your Morgan Stanley account can play a role in the approval process, demonstrating your financial capacity for a high-annual-fee card.
Step 4: Maximizing Your Card's Benefits and Engagement Bonus
Congratulations! If you've been approved, you now hold the Morgan Stanley Platinum Card. The journey doesn't end here; it's time to unlock its full potential.
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Sub-heading: The Annual Engagement Bonus – A Game Changer!
- Potentially Offset the Annual Fee: One of the most compelling reasons to get the Morgan Stanley Platinum Card is the potential for an annual engagement bonus. For eligible Platinum CashPlus clients, this bonus can be $695, effectively offsetting the card's $695 annual fee.
- Meeting the Criteria: To receive this bonus, you generally need to have a Platinum CashPlus Account and meet specific criteria related to monthly deposits and average daily cash balance. Be sure to confirm the exact requirements with Morgan Stanley, as these can change.
Sub-heading: Leveraging Platinum Card Benefits
The Morgan Stanley Platinum Card comes packed with the standard American Express Platinum benefits, including:
- Travel Credits:
- Up to $200 Airline Fee Credit (select one qualifying airline).
- Up to $200 Hotel Credit on prepaid Fine Hotels + Resorts or The Hotel Collection bookings through Amex Travel.
- Uber Cash: Up to $200 in Uber Cash annually ($15/month, plus a bonus $20 in December).
- Lounge Access:
- The American Express Global Lounge Collection: Access to Centurion Lounges, Priority Pass Select lounges (enrollment required), Delta Sky Clubs (when flying Delta), and more. This is a major perk for frequent travelers.
- Digital Entertainment Credit: Up to $240 in statement credits annually for eligible purchases with participating partners.
- CLEAR Plus Credit: Up to $189 in statement credits for a CLEAR Plus membership.
- Global Entry/TSA PreCheck Credit: Up to $100 credit for Global Entry or TSA PreCheck application fee.
- Premium Car Rental Privileges: Complimentary premium status with select car rental programs.
- No Foreign Transaction Fees: Ideal for international travel.
- 5x Membership Rewards Points: On flights booked directly with airlines or through American Express Travel (on up to $500,000 per calendar year) and on prepaid hotels booked through American Express Travel.
Sub-heading: Adding an Authorized User
- Complimentary Additional Platinum Card: A significant advantage of the Morgan Stanley Platinum Card is that it typically offers one complimentary Additional Platinum Card for an authorized user. This allows a family member to enjoy many of the same premium travel benefits, including lounge access, without incurring an additional annual fee (which is usually $195 for other Platinum Card versions).
Step 5: Maintaining Your Relationship and Enjoying the Perks
- Stay Engaged with Morgan Stanley: To continue enjoying the engagement bonus and potentially access other exclusive opportunities, it's vital to maintain your eligible Morgan Stanley account and meet any specified criteria.
- Utilize Your Benefits: Don't let the annual fee go to waste. Proactively use the statement credits and take advantage of the travel and lifestyle perks. Set reminders for annual credits and ensure you're maximizing your value.
- Review Your Account Regularly: Keep an eye on your Morgan Stanley and American Express accounts to ensure you're on track with any requirements for the engagement bonus and to monitor your spending and rewards.
10 Related FAQ Questions
How to apply for the Morgan Stanley Platinum Card?
You typically apply for the Morgan Stanley Platinum Card through your Morgan Stanley Online account or directly on the American Express website for Morgan Stanley clients, after you have established an eligible brokerage account with Morgan Stanley.
How to become an eligible Morgan Stanley client for the Platinum Card?
To become an eligible Morgan Stanley client, you'll need to open a brokerage account with Morgan Stanley Smith Barney LLC. A Morgan Stanley financial advisor can guide you through this process, with options like a standard brokerage account or a CashPlus account.
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How to get the annual fee waived for the Morgan Stanley Platinum Card?
The annual fee for the Morgan Stanley Platinum Card ($695) can often be offset by an annual engagement bonus of $695, typically available to clients who hold a Platinum CashPlus Account and meet specific criteria (e.g., monthly deposits and average daily cash balance).
How to check if my Morgan Stanley account is eligible for the Platinum Card?
You can check the eligibility of your Morgan Stanley account by contacting your Morgan Stanley financial advisor or by reviewing the terms and conditions for the Morgan Stanley Platinum Card application, which will specify what constitutes an "Eligible Account."
How to utilize the travel credits on the Morgan Stanley Platinum Card?
The travel credits, such as the Airline Fee Credit and Hotel Credit, are typically redeemed by making eligible purchases with the selected airline or booking through American Express Travel. You may need to enroll for certain benefits.
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How to access airport lounges with the Morgan Stanley Platinum Card?
Your Morgan Stanley Platinum Card grants you access to the American Express Global Lounge Collection, including Centurion Lounges, Priority Pass Select lounges (requires enrollment), Delta Sky Clubs (when flying Delta), and more. You'll present your card and a valid boarding pass for entry.
How to add an authorized user to the Morgan Stanley Platinum Card?
You can add an authorized user to your Morgan Stanley Platinum Card by contacting American Express customer service or through your online American Express account. The first authorized Platinum Card is typically complimentary.
How to earn Membership Rewards points with the Morgan Stanley Platinum Card?
You earn 5x Membership Rewards points on flights booked directly with airlines or through American Express Travel (on up to $500,000 per calendar year) and on prepaid hotels booked through American Express Travel. All other eligible purchases typically earn 1x point.
How to contact customer service for the Morgan Stanley Platinum Card?
For card-related inquiries, you should contact American Express customer service using the number on the back of your card. For Morgan Stanley account inquiries, contact your Morgan Stanley financial advisor or Morgan Stanley customer service.
How to determine if the Morgan Stanley Platinum Card is right for me?
The Morgan Stanley Platinum Card is ideal for individuals who are already Morgan Stanley clients or are willing to become one, have excellent credit, and can maximize the card's premium travel benefits, statement credits, and potentially offset the annual fee with the engagement bonus.
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