Morgan Stanley Platinum CashPlus Review

If you’re an avid investor or a big spender, you may be in the market for a credit card that allows you to consolidate your banking, credit and investment activity with a single provider. That’s what this credit card offers, but it does come with a fairly significant annual fee.

Morgan Stanley Platinum CashPlus Review Express Exclusively for Morgan Stanley requires you to have an eligible Morgan Stanley brokerage account. This includes a AAA Account, Self Directed Brokerage Account (excluding E*trade), Morgan Stanley Access Investing Account or a discretionary/nondiscretionary Advisory Account or program through Morgan Stanley’s Advisory Services. It does not include retirement plan accounts, including IRAs.

You can add one authorized user for free and earn American Express Membership Rewards points that are worth 1 cent apiece when redeemed for statement credits or transferred to a high-value partner. This is a nice perk and helps offset the card’s $695 annual fee.

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But the most interesting part of this card is that you can deposit your Social Security benefits into the account to avoid paying a monthly fee. This is an incredible feature for older folks that want to ensure they’re getting the maximum benefit from their retirement savings.

However, the interest rate on this account is pretty terrible. It earns a meager.01% APR on up to $25,000, which is about what you’d expect for parking your money at a bank. Luckily, there’s a saving account that pays something like 4.5%, so it might be worth it for some to move money from this Morgan Stanley Platinum card to the savings account.