American Express and Morgan Stanley have collaboratively unveiled two new co-branded cards, the Morgan Stanley Credit Card from American Express and the Platinum Card from American Express exclusively for Morgan Stanley.
Morgan Stanley Private Banking Group head Shelley O’Connor said in partnership with American Express, the firm offers its clients a convenient way to enjoy superior service combined with an exceptional rewards program.
"These new cards advance our commitment to serving our clients’ wealth management needs, including investment, credit and cash management, in a comprehensive fashion," O’Connor said.
The new cards provide eligible brokerage accounts to Morgan Stanley Smith Barney clients and consumers can get 10,000 Membership Rewards points after spending $1,000 within 3 months of opening a card account, claims Morgan Stanley.
Additional cards will be provided at no annual cost for the first year, while for the second year onwards $95 will be levied as annual fees, said the firm.
Cardmembers are automatically enrolled in the Membership Rewards program and can redeem points for vacations, tickets to concerts, the latest gadgets and gift cards to many of their favourite stores.
Points carry no expiry date, and there is no limit on the number of points a Cardmember can earn and adding additional cards to their account, one can earn numerous points.
Morgan Stanley, a US financial services firm operates through 1,300 offices in 43 countries, providing investment banking, securities, investment management and wealth management services.