Charles Schwab to drop visa credit card

New applications for the Schwab Bank Invest First Visa halted earlier this year.  The card was attractive to many frequent international travelers and those who value cash over miles and points since it offered no foreign exchange fees and gave 2% cash back on everything.

Schwab is now dropping their association according to this website.  This is effective October 1.  As of now there is no report about the benefits of the card changing, but who knows when it comes to FIA.

I was declined for this card so I did not receive this notice myself.