Amex Fidelity CC 2% Cash Back

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DFWinvestor
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Amex Fidelity CC 2% Cash Back

Post by DFWinvestor » Wed Jan 14, 2015 10:52 am

Hello fellow bogleheads. I was wondering if a few of you could provide me some information on the Fidelity Amex 2% cash back credit card. I have been with Discover for a number of years, I am a big fan of cash back credit cards but try to avoid annual fees. Also have a brokerage account with Fidelity.

Typically I throw CC offers in the trash but this one I find to be a good offer. There is no annual fee at least up front. Sounds like a decent deal to me.

Anyone who has been a card holder for a while have anything to share? Mostly trying to find out if they start charging an annual fee after a year or two. Or if there are any other problems you may have encountered with this card....

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rob
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Re: Amex Fidelity CC 2% Cash Back

Post by rob » Wed Jan 14, 2015 10:55 am

I have one of these (and the no longer offered mastercard).... Works great as long as you deposit cash back to a fido account.

Edit: No surprise fees... although the amex card is slower to deposit the rewards than the old m/c version - no idea why. I don't use the amex a lot and mostly use at costco that don't take m/c.
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JamesSFO
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Re: Amex Fidelity CC 2% Cash Back

Post by JamesSFO » Wed Jan 14, 2015 10:59 am

No downsides, no annual fees. Now has Chip and Signature.

Only remote downside is there is a foreign transaction fee.

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runner9
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Re: Amex Fidelity CC 2% Cash Back

Post by runner9 » Wed Jan 14, 2015 10:59 am

We've had the card since July, 2010. We've had no issues. New card when Target hack happened, possibly one other time. No other issues, it's great and we charge everything on it, except where AMEX isn't taken.

Postmon
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Re: Amex Fidelity CC 2% Cash Back

Post by Postmon » Wed Jan 14, 2015 11:02 am

I love it. No fees or surprises. I link it to my Fidelity Bill Pay which allows me to fully access the Amex account while I'm logged into Fidelity.

psteinx
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Re: Amex Fidelity CC 2% Cash Back

Post by psteinx » Wed Jan 14, 2015 11:05 am

Keep in mind that there is also the Quicksilver Visa (from Cap One I think), at 1.5%.

A bit less than 2.0% of course, but not bad, and a Visa rather than an Amex. The reward can be applied as a statement/balance credit - pretty easy to do. (i.e. You go online, click a few things, then your $50 or whatever goes against what you would have paid in the following month or so. It's not automatic, but neither is it hard.)
Last edited by psteinx on Wed Jan 14, 2015 11:30 am, edited 1 time in total.

takeshi
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Re: Amex Fidelity CC 2% Cash Back

Post by takeshi » Wed Jan 14, 2015 11:07 am

DFWinvestor wrote:I am a big fan of cash back credit cards but try to avoid annual fees.
Always consider total cost/benefit versus just AF.
DFWinvestor wrote:Anyone who has been a card holder for a while have anything to share? Mostly trying to find out if they start charging an annual fee after a year or two.
You don't need feedback for that. No AF is no AF though any creditor can make changes. This particular card has always been no AF so far.
psteinx wrote:Keep in mind that there is also the Quicksilver Visa (from Cap One I think), at 1.5%.
There's also the 1%+1% Citi DoubleCash as well as other 1.5% cards.
Last edited by takeshi on Wed Jan 14, 2015 11:10 am, edited 3 times in total.

Savvy
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Re: Amex Fidelity CC 2% Cash Back

Post by Savvy » Wed Jan 14, 2015 11:09 am

psteinx wrote:Keep in mind that there is also the Quicksilver Visa (from Cap One I think), at 1.5%.

A bit less than 2.0% of course, but not bad, and a Visa rather than an Amex. The reward can be applied as a statement/balance credit - pretty easy to do. (i.e. You go online, click a few things, then your $50 or whatever goes against what you would have paid in the following month or so.)
However, the Fidelity Amex has a solid track record of keeping up the 2.0% for years. Quicksilver is a newer card and, like many newer cards, the rewards can dwindle over time.

Every time my Fidelity Amex hits $50 in rewards, it automatically gets sent to my "brokerage" account at Fidelity (which stays empty). Once that transfer occurs, I simply transfer that amount to my bank. Very easy.

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heartwood
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Re: Amex Fidelity CC 2% Cash Back

Post by heartwood » Wed Jan 14, 2015 11:12 am

It's great and frequently rated the best cash back credit card. No fees. It is an AMEX card but serviced by FIA under license from AMEX. You don't deal with American Express but with FIA. They're a good outfit but not as good as AMEX. Also a very few of (real) AMEX programs do not apply, like the ability to get premium auto rental insurance.

As rob mentions. the cash back (over $50/month) goes to a Fidelity cash management account (or a few other options) once per month, like clock work. I seem to recall that the (real) AMEX cash backs only credit you once per year? You can transfer the money out to another account via EFT to anywhere. I mostly leave it there and access it via a Fido debit card that refunds any ATM fees.

Anyway. Its a great card. We've used it for many years. There's also a VISA card that's similar after some initial amount per year.

DFWinvestor
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Re: Amex Fidelity CC 2% Cash Back

Post by DFWinvestor » Wed Jan 14, 2015 11:17 am

Thanks everyone for the great feedback! The thought of a new CC account, password and username to store in my iPhone, etc usually deters me from applying for a new card but I think this one seems worth the hassle.

Postmon
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Re: Amex Fidelity CC 2% Cash Back

Post by Postmon » Wed Jan 14, 2015 11:19 am

heartwood wrote:Also a very few of (real) AMEX programs do not apply, like the ability to get premium auto rental insurance.
What extra benefits do you get with the premium insurance that you don't get with the regular?

Also, what are the other benefits of the real AMEX over the Fidelity one?

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heartwood
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Re: Amex Fidelity CC 2% Cash Back

Post by heartwood » Wed Jan 14, 2015 11:32 am

Postmon wrote:
heartwood wrote:Also a very few of (real) AMEX programs do not apply, like the ability to get premium auto rental insurance.
What extra benefits do you get with the premium insurance that you don't get with the regular?

Also, what are the other benefits of the real AMEX over the Fidelity one?

Not to hijack the thread, I'll respond briefly. We get it through our Costco AMEX which is a (real) AMEX. Here's the link https://www295.americanexpress.com/prem ... ge/home.do

We car rent for several months of the year. It's primary coverage with no deductible. We get the $75,000 coverage for $19.95 for up to 42 days.

In my experience (real) AMEX provides better service than FIA. FIA is very good but screws up with us at least once a year for the last three years when we're away despite travel notices.

We use the FIA card almost exclusively. Its great. We use the Costco (real) AMEX when we rent.

Jms70
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Re: Amex Fidelity CC 2% Cash Back

Post by Jms70 » Wed Jan 14, 2015 12:11 pm

I have the MC 529 college rewards version and have had it for the last 7 years. No suprise fees, still no annual fee.

rb6p
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Re: Amex Fidelity CC 2% Cash Back

Post by rb6p » Wed Jan 14, 2015 2:56 pm

I've been using this card for several years as my main card, and I have absolutely no complaints. The 2% cash back is in fact CASH (vs "thank you points" or anything else). The transfer is simple: you will need to open a free cash account that is linked directly online with the credit card account. You can then link this directly to a regular checking account, so the cash back is easily moved to checking.

As someone pointed out above, there is a foreign transaction fee - I think 1%. However, this is negated by the 2% you get back. . so for all intents and purposes, it is the equivalent of using any other (1% cash back) card without a foreign transaction fee.

The cash account, BTW, is itself useful as all ATM fees are reimbursed. I also use it for foreign travel as there is no foreign transaction fee. Plus, there is a benefit to using this instead of your checking accounts' debit card while traveling. On a recent trip to Brazil, I and several of my travel companions were victims of identity theft. I only placed into the account as much money as I needed for the trip. By the time the thief had attempted to access my account, there was less than $100 and his request for was rejected. The unusual activity prompted a phone call by Fidelity and the card number was changed before any harm could be done.

mikep
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Re: Amex Fidelity CC 2% Cash Back

Post by mikep » Wed Jan 14, 2015 3:00 pm

I have this card but no Fidelity account is needed. I just redeem the rewards as a $250 statement credit once I reach 25,000 points after spending $12,500. Lower redemption levels are less than 2%.

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Re: Amex Fidelity CC 2% Cash Back

Post by tludwig23 » Wed Jan 14, 2015 3:04 pm

The only problem I've had is that Amex isn't accepted everywhere.

They've done studies, you know. 60% of the time, it works every time. :)
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mike143
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Re: Amex Fidelity CC 2% Cash Back

Post by mike143 » Wed Jan 14, 2015 3:06 pm

Fidelity Amex since 2011. I collect all the 2% cards in case they lower cash back and grandfather. I also have the Priceline Visa at 2%, now grandfathered and also pickup the new Citi Double Cash Mastercard at 2% for the occasional Sam's Clubs visits. I also have the Citi Forward 5% Amazon.com and dining, now grandfathered. I extract every last bit of cash back as possible, my wallet is full of cards.
mikep wrote:I have this card but no Fidelity account is needed. I just redeem the rewards as a $250 statement credit once I reach 25,000 points after spending $12,500. Lower redemption levels are less than 2%.
You can redeem in $50 (2%) increments if you setup a Cash Management Account. This is just a central repository that allows you to transfer out to checking accounts. You have the option of making it a checking account or activating checks or debt cards but you don't have to and I don't. I worry that they will eventually devalue points (cough...PenFed) and try to cash them out at maximum value as soon as possible.

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dave_m_
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Re: Amex Fidelity CC 2% Cash Back

Post by dave_m_ » Wed Jan 14, 2015 3:17 pm

I've used this as my main card for quite a while, no problems with the customer service or with the transfers to Fidelity. Depending on what is needed, I've had the contributions go directly to an IRA and sometimes to the cash management account.

psteinx
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Re: Amex Fidelity CC 2% Cash Back

Post by psteinx » Wed Jan 14, 2015 3:53 pm

Savvy wrote:However, the Fidelity Amex has a solid track record of keeping up the 2.0% for years. Quicksilver is a newer card and, like many newer cards, the rewards can dwindle over time.

Every time my Fidelity Amex hits $50 in rewards, it automatically gets sent to my "brokerage" account at Fidelity (which stays empty). Once that transfer occurs, I simply transfer that amount to my bank. Very easy.
I think you're right about Quicksilver being newer. In any case, I don't think it was heavily promoted until about a year, year and a half ago. And yeah, the rewards may get significantly worse in various ways. And yeah, it's not entirely automatic (you do have to go online and click a bit to apply the QS rewards to future credit card bills).

That said, Visa is, I think, more widely accepted than Amex, and you don't need to set up a general bank account or whatever with Cap One to use QS (I think with the Fido one you do?)

Different strokes - just presenting an alternative...
Last edited by psteinx on Wed Jan 14, 2015 4:50 pm, edited 1 time in total.

dave_m_
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Re: Amex Fidelity CC 2% Cash Back

Post by dave_m_ » Wed Jan 14, 2015 3:57 pm

The AMEX card certainly isn't accepted everywhere, but there is a similar Fidelity Investment Rewards Visa card that has 1.5% cash back as well. Works almost identically to the AMEX, and is also managed through FIA Card Services. Unless there are special promotions on other cards, the two Fidelity cards are a good combination.

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camper
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Re: Amex Fidelity CC 2% Cash Back

Post by camper » Wed Jan 14, 2015 4:27 pm

dave_m_ wrote:The AMEX card certainly isn't accepted everywhere, but there is a similar Fidelity Investment Rewards Visa card that has 1.5% cash back as well. Works almost identically to the AMEX, and is also managed through FIA Card Services. Unless there are special promotions on other cards, the two Fidelity cards are a good combination.
We do this as well.
The Fido AMEX is what we use about 90% time for the 2% rewards.
Where AMEX isn't accepted, we use the Fido VISA for the 1.5% rewards.

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Leif
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Re: Amex Fidelity CC 2% Cash Back

Post by Leif » Wed Jan 14, 2015 4:49 pm

I've had the AmEx card now for several years. It work great. I also have the Fidelity Visa, which pays back 1.5%. Both are serviced by FIA card services.
DFWinvestor wrote:The thought of a new CC account, password and username to store in my iPhone, etc usually deters me from applying for a new card but I think this one seems worth the hassle.
Both are visible on the Fidelity portfolio web page which is very nice. I can see the current balance and the latest transactions without needing to login to their website.

One thing nice about the AmEx is they automatically deposit the cash reward into my account (they check each month). The Visa card, on the other hand, I need to manually request the movement of my cash rewards into my account.

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camper
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Re: Amex Fidelity CC 2% Cash Back

Post by camper » Wed Jan 14, 2015 10:09 pm

Leif wrote:I've had the AmEx card now for several years. It work great. I also have the Fidelity Visa, which pays back 1.5%. Both are serviced by FIA card services.
DFWinvestor wrote:The thought of a new CC account, password and username to store in my iPhone, etc usually deters me from applying for a new card but I think this one seems worth the hassle.
Both are visible on the Fidelity portfolio web page which is very nice. I can see the current balance and the latest transactions without needing to login to their website.

One thing nice about the AmEx is they automatically deposit the cash reward into my account (they check each month). The Visa card, on the other hand, I need to manually request the movement of my cash rewards into my account.
Interesting...Both of the cards automatically deposit into our Fido 529.

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Re: Amex Fidelity CC 2% Cash Back

Post by Howie » Wed Jan 14, 2015 10:25 pm

heartwood wrote:

Not to hijack the thread, I'll respond briefly. We get it through our Costco AMEX which is a (real) AMEX. Here's the link https://www295.americanexpress.com/prem ... ge/home.do

We car rent for several months of the year. It's primary coverage with no deductible. We get the $75,000 coverage for $19.95 for up to 42 days.

In my experience (real) AMEX provides better service than FIA. FIA is very good but screws up with us at least once a year for the last three years when we're away despite travel notices.

We use the FIA card almost exclusively. Its great. We use the Costco (real) AMEX when we rent.
Great input. Thanks. I knew my Fidelity AmEx wasn't a "real" AmEx but didn't realize the Costco one was. I'll definitely use it instead of the Fidelity FIA one for certain transactions where a differentiating benefit exists (e.g., rentals).

I wonder if there are longer extended warranty coverages, etc. with the Costco AmEx vs. the Fidelity FIA AmEx?

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Re: Amex Fidelity CC 2% Cash Back

Post by Leesbro63 » Wed Jan 14, 2015 11:49 pm

Actually the Fidelity 1.5% Visa pays 2% after the first $15,000... effectively being a 2 percent card with a $75 annual fee. Worth it to me to not have to deal with Amex not being accepted everywhere.
Last edited by Leesbro63 on Wed Jan 14, 2015 11:54 pm, edited 1 time in total.

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Re: Amex Fidelity CC 2% Cash Back

Post by Leesbro63 » Wed Jan 14, 2015 11:52 pm

Also the Discover Escape card pays 2% as a credit toward travel (air, hotel, car). As long as you spend enough on travel to claim the credit/play the game, it's effectively a 2% cash back card. It costs $60/yr but provides PRIMARY rental car coverage. Cheaper than the Amex rental coverage if you rent somewhat frequently. Plus now you get your credit score each month for free on your statement without the log in hassles and limits of the free credit score sites.
Last edited by Leesbro63 on Wed Jan 14, 2015 11:55 pm, edited 1 time in total.

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White Coat Investor
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Re: Amex Fidelity CC 2% Cash Back

Post by White Coat Investor » Wed Jan 14, 2015 11:55 pm

DFWinvestor wrote:Hello fellow bogleheads. I was wondering if a few of you could provide me some information on the Fidelity Amex 2% cash back credit card. I have been with Discover for a number of years, I am a big fan of cash back credit cards but try to avoid annual fees. Also have a brokerage account with Fidelity.

Typically I throw CC offers in the trash but this one I find to be a good offer. There is no annual fee at least up front. Sounds like a decent deal to me.

Anyone who has been a card holder for a while have anything to share? Mostly trying to find out if they start charging an annual fee after a year or two. Or if there are any other problems you may have encountered with this card....
Nope. It's been exactly as advertised for years. My main card. Only downside is it is AmEx. I would have preferred a VISA or Mastercard, but that one only paid 1.5%....

Actually, one other downside is you have to open a Fidelity account and transfer your money out of it every month or two. I prefer how PenFed just applies the cash back to your balance each month.
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Re: Amex Fidelity CC 2% Cash Back

Post by White Coat Investor » Wed Jan 14, 2015 11:57 pm

Savvy wrote:
Every time my Fidelity Amex hits $50 in rewards, it automatically gets sent to my "brokerage" account at Fidelity (which stays empty). Once that transfer occurs, I simply transfer that amount to my bank. Very easy.
Are we talking about the same card? I don't think I have to wait for $50 to get my cash, although I confess it has been many months since I put less than $2500 a month on my card.
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Leif
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Re: Amex Fidelity CC 2% Cash Back

Post by Leif » Thu Jan 15, 2015 12:14 am

camper wrote:
Interesting...Both of the cards automatically deposit into our Fido 529.
Maybe I need to ask again. I checked with FIA several years ago and was told with the VISA I need to watch and move manually. It does seem with both being FIA that VISA should have the same feature.

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tarheel
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Re: Amex Fidelity CC 2% Cash Back

Post by tarheel » Thu Jan 15, 2015 6:16 am

I've had the card for around 5 years and have been very happy. It's meant about $1000 a year free money into the 'ol Roth.

I haven't bothered to get the Visa version since I've found AMEX to work at almost all the places I normally shop. That would be even better.....too lazy I just use my credit union debit card.

Specifically, I have found that combining the 2% brokerage account rewards + iShares commission free ETFs has been a nice combo. I basically get to go into my account and by a couple of shares of either SCZ or IEMG every month for free.

Makes me want to spend more! :P

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JamesSFO
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Re: Amex Fidelity CC 2% Cash Back

Post by JamesSFO » Thu Jan 15, 2015 8:37 am

Leif wrote:
camper wrote:
Interesting...Both of the cards automatically deposit into our Fido 529.
Maybe I need to ask again. I checked with FIA several years ago and was told with the VISA I need to watch and move manually. It does seem with both being FIA that VISA should have the same feature.
I have both and both can autodeposit.

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Re: Amex Fidelity CC 2% Cash Back

Post by midareff » Thu Jan 15, 2015 8:50 am

I've had my Fido Amex 2% since 2009. It is set on auto-pay in full monthly since day one so I have never paid a penny in interest. They automatically ($50 minimum) pay rewards to my Fido MM account. Since I use for everything possible besides groceries (AMEX Blue Pref 6%) and gas (PenFed 5%) rewards are nearly monthly. Service is first class, they handle fraud and disputes A+++, no issues at all going into year 7. Had identical flawless performance from their 1.5% Fido Visa but just switched my non-AX card to the 1% + 1% Citi MasterCard.

Highly recommended.

BTW, I had an "opportunity" to "buy back" (for lack of better terms) a year of SS last May and restart at age 65, vs. 64. SS actually took the card and FIA Card Services (they are the administrator of the card) helped me make sure it wasn't bounced for amount. LOL, the "reward" on that one was a bit north of $440. + whatever interest the cash made sitting at Ally bank near 50 days. That leaves a long lasting chuckle.

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Re: Amex Fidelity CC 2% Cash Back

Post by pennstater2005 » Thu Jan 15, 2015 9:10 am

No issues here. Great customer service. Two new cards automatically issued when fraudulent activity was suspected. Automatic cash rewards into Fidelity cash account. Got my $30 credit too without issue from the small business Saturday event.
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Re: Amex Fidelity CC 2% Cash Back

Post by vital15 » Thu Jan 15, 2015 9:21 am

Leesbro63 wrote:Actually the Fidelity 1.5% Visa pays 2% after the first $15,000... effectively being a 2 percent card with a $75 annual fee. Worth it to me to not have to deal with Amex not being accepted everywhere.
I do the same thing. I have both the Amex and Visa but put the Amex in the drawer a few years ago and just use the Visa for simplicity. I know I am giving up 0.5% on the first $15,000 ($75), but I prefer the simplicity. Also, since amex is not accepted everywhere, even if that was my primary card I'd probably end up charging thousands on a 1.5% card so my true "cost" is somewhat less than $75.

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Re: Amex Fidelity CC 2% Cash Back

Post by tainted-meat » Thu Jan 15, 2015 9:29 am

midareff wrote: BTW, I had an "opportunity" to "buy back" (for lack of better terms) a year of SS last May and restart at age 65, vs. 64. SS actually took the card and FIA Card Services (they are the administrator of the card) helped me make sure it wasn't bounced for amount. LOL, the "reward" on that one was a bit north of $440. + whatever interest the cash made sitting at Ally bank near 50 days. That leaves a long lasting chuckle.
That reminds me of the people who bought coins from the U.S. Mint on credit and then would take the coins straight to the bank while making money on the rewards. Gave me a good chuckle :mrgreen:

I agree, the Fidelity Amex is a great card. It's my everyday use card since 2010.

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Re: Amex Fidelity CC 2% Cash Back

Post by Leesbro63 » Thu Jan 15, 2015 11:31 am

midareff wrote:BTW, I had an "opportunity" to "buy back" (for lack of better terms) a year of SS last May and restart at age 65, vs. 64. SS actually took the card and FIA Card Services (they are the administrator of the card) helped me make sure it wasn't bounced for amount. LOL, the "reward" on that one was a bit north of $440. + whatever interest the cash made sitting at Ally bank near 50 days. That leaves a long lasting chuckle.
Not the main issue here, but I thought the ability to do that with SS had been rescinded.??

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Re: Amex Fidelity CC 2% Cash Back

Post by Savvy » Thu Jan 15, 2015 11:35 am

EmergDoc wrote:
Savvy wrote:
Every time my Fidelity Amex hits $50 in rewards, it automatically gets sent to my "brokerage" account at Fidelity (which stays empty). Once that transfer occurs, I simply transfer that amount to my bank. Very easy.
Are we talking about the same card? I don't think I have to wait for $50 to get my cash, although I confess it has been many months since I put less than $2500 a month on my card.
Hmm. Not sure. I think I have to wait for the $50. Maybe that's because I have a brokerage vs. a "cash management" account. I don't know. Maybe I don't have to wait for $50, but once it gets over $50 it does automatically transfer....so I guess I am not certain.

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Re: Amex Fidelity CC 2% Cash Back

Post by runner9 » Thu Jan 15, 2015 12:13 pm

Savvy wrote:
EmergDoc wrote:
Savvy wrote:
Every time my Fidelity Amex hits $50 in rewards, it automatically gets sent to my "brokerage" account at Fidelity (which stays empty). Once that transfer occurs, I simply transfer that amount to my bank. Very easy.
Are we talking about the same card? I don't think I have to wait for $50 to get my cash, although I confess it has been many months since I put less than $2500 a month on my card.
Hmm. Not sure. I think I have to wait for the $50. Maybe that's because I have a brokerage vs. a "cash management" account. I don't know. Maybe I don't have to wait for $50, but once it gets over $50 it does automatically transfer....so I guess I am not certain.
Ours goes into my wife's Roth. It transfers the 6th of the month after the point balance is 5,000 or more ($50). If it's less the points sit there until the next month. So yes, for us at least $50 is correct.

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Re: Amex Fidelity CC 2% Cash Back

Post by mikep » Thu Jan 15, 2015 12:28 pm

vital15 wrote:
Leesbro63 wrote:Actually the Fidelity 1.5% Visa pays 2% after the first $15,000... effectively being a 2 percent card with a $75 annual fee. Worth it to me to not have to deal with Amex not being accepted everywhere.
I do the same thing. I have both the Amex and Visa but put the Amex in the drawer a few years ago and just use the Visa for simplicity. I know I am giving up 0.5% on the first $15,000 ($75), but I prefer the simplicity. Also, since amex is not accepted everywhere, even if that was my primary card I'd probably end up charging thousands on a 1.5% card so my true "cost" is somewhat less than $75.
Visa is not accepted everywhere either, such as Costco. Still need to use amex there, and this one gives double the reward than Costco's own Amex.

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Re: Amex Fidelity CC 2% Cash Back

Post by DFWinvestor » Thu Jan 15, 2015 9:16 pm

EmergDoc wrote:
DFWinvestor wrote:Hello fellow bogleheads. I was wondering if a few of you could provide me some information on the Fidelity Amex 2% cash back credit card. I have been with Discover for a number of years, I am a big fan of cash back credit cards but try to avoid annual fees. Also have a brokerage account with Fidelity.

Typically I throw CC offers in the trash but this one I find to be a good offer. There is no annual fee at least up front. Sounds like a decent deal to me.

Anyone who has been a card holder for a while have anything to share? Mostly trying to find out if they start charging an annual fee after a year or two. Or if there are any other problems you may have encountered with this card....
Nope. It's been exactly as advertised for years. My main card. Only downside is it is AmEx. I would have preferred a VISA or Mastercard, but that one only paid 1.5%....

Actually, one other downside is you have to open a Fidelity account and transfer your money out of it every month or two. I prefer how PenFed just applies the cash back to your balance each month.
I've had a Fidelity brokerage account for several years now so this wouldn't be an issue.

lhl12
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Re: Amex Fidelity CC 2% Cash Back

Post by lhl12 » Thu Jan 15, 2015 9:58 pm

vital15 wrote:
Leesbro63 wrote:Actually the Fidelity 1.5% Visa pays 2% after the first $15,000... effectively being a 2 percent card with a $75 annual fee. Worth it to me to not have to deal with Amex not being accepted everywhere.
I do the same thing. I have both the Amex and Visa but put the Amex in the drawer a few years ago and just use the Visa for simplicity. I know I am giving up 0.5% on the first $15,000 ($75), but I prefer the simplicity. Also, since amex is not accepted everywhere, even if that was my primary card I'd probably end up charging thousands on a 1.5% card so my true "cost" is somewhat less than $75.
Same here - I have both, but never use the Amex. It is worth $75/yr to me just to have a single card for all purchases and never to have to worry about whether it will be declined because it is Amex.

BanditKing
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Re: Amex Fidelity CC 2% Cash Back

Post by BanditKing » Fri Jan 16, 2015 12:04 am

I have the Fidelity Amex as my main. The 2% sweep into my brokerage as soon as it hits $50 is easy to just xfer to my checking account. I also have the 1.5% fidelity Visa which I use as my backup card if Amex isn't accepted. It functions the same way with a $50 sweep. Easy peasy.

I do use my Discover for 5% when I remember to sign up and what the category is, and recently got a deal from them for $120 cash back if I spent $1000. It was just before xmas, so with a few Amazon gift cards and other gifts, I hit $1k. You can now link your discover rewards directly to Amazon now as well.

Speaking of Amazon, I have their 3% cashback card that I use exclusively for Amazon purchases.

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Leif
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Re: Amex Fidelity CC 2% Cash Back

Post by Leif » Fri Jan 16, 2015 1:41 am

BanditKing wrote: I do use my Discover for 5% when I remember to sign up and what the category is, and recently got a deal from them for $120 cash back if I spent $1000.
Nice, they only offered me $75 for spending a $1,000. It was because I had not used their card recently.

triggerfish10
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Re: Amex Fidelity CC 2% Cash Back

Post by triggerfish10 » Fri Jan 16, 2015 5:35 am

Anyone use the Blue Cash Preferred Card from Am Ex? It does have an annual fee of $75, but you get 6% cash back on groceries (capped at $6000 per year, after which it is 1%), 3% back on gas and eligible department stores, and 1% on everything else.
"A quiet and modest life brings more joy than a pursuit of success bound with constant unrest" - Albert Einstein

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Re: Amex Fidelity CC 2% Cash Back

Post by FedGuy » Fri Jan 16, 2015 9:54 am

triggerfish10 wrote:Anyone use the Blue Cash Preferred Card from Am Ex? It does have an annual fee of $75, but you get 6% cash back on groceries (capped at $6000 per year, after which it is 1%), 3% back on gas and eligible department stores, and 1% on everything else.
Yes. It's better than the Blue Cash Everyday Card if your annual grocery spending exceeds $2500.

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prudent
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Re: Amex Fidelity CC 2% Cash Back

Post by prudent » Fri Jan 16, 2015 10:31 am

triggerfish10 wrote:Anyone use the Blue Cash Preferred Card from Am Ex? It does have an annual fee of $75, but you get 6% cash back on groceries (capped at $6000 per year, after which it is 1%), 3% back on gas and eligible department stores, and 1% on everything else.
We use the heck out of it! Remember the 6% applies to whatever you buy at a grocery store/supermarket. Does yours sell gift cards you could use? You also get special offers on the AmEx website that you can sign up for. In the last month or so, we got a $5 off a minimum $5 purchase at McDonalds, and a $20 off Verizon Fios if we pay with the BCP (and that offer can be used twice!). Add in the ability to use it in November for Small Business Saturday, and we've saved the annual fee just in the special offers.

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Re: Amex Fidelity CC 2% Cash Back

Post by rotorhead » Fri Jan 16, 2015 11:01 am

Re: Amex Fidelity CC 2% Cash Back

Post by Leesbro63 » Thu Jan 15, 2015 12:31 pm




midareff wrote:
BTW, I had an "opportunity" to "buy back" (for lack of better terms) a year of SS last May and restart at age 65, vs. 64. SS actually took the card and FIA Card Services (they are the administrator of the card) helped me make sure it wasn't bounced for amount. LOL, the "reward" on that one was a bit north of $440. + whatever interest the cash made sitting at Ally bank near 50 days. That leaves a long lasting chuckle.

Not the main issue here, but I thought the ability to do that with SS had been rescinded.??
I thought so too. midareff, could you please enlighten us a bit more?

By the way, I am Am Ex card holder since 1969; currently Gold Premier Rewards. We use it for every purchase that will take it. Get 2x and 3x points on certain purchases; but I have thought several times about switching to the Fidelity Am Ex. Maybe time to take a closer look.

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Re: Amex Fidelity CC 2% Cash Back

Post by tj » Fri Jan 16, 2015 11:33 am

psteinx wrote:Keep in mind that there is also the Quicksilver Visa (from Cap One I think), at 1.5%.

A bit less than 2.0% of course, but not bad, and a Visa rather than an Amex. The reward can be applied as a statement/balance credit - pretty easy to do. (i.e. You go online, click a few things, then your $50 or whatever goes against what you would have paid in the following month or so. It's not automatic, but neither is it hard.)
There's Fidelity's own Visa which is 1.5% and you can combined the points with the Amex to redeem faster.

triggerfish10
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Re: Amex Fidelity CC 2% Cash Back

Post by triggerfish10 » Fri Jan 16, 2015 12:25 pm

We use the heck out of it! Remember the 6% applies to whatever you buy at a grocery store/supermarket. Does yours sell gift cards you could use? You also get special offers on the AmEx website that you can sign up for. In the last month or so, we got a $5 off a minimum $5 purchase at McDonalds, and a $20 off Verizon Fios if we pay with the BCP (and that offer can be used twice!). Add in the ability to use it in November for Small Business Saturday, and we've saved the annual fee just in the special offers.
For the way that my wife and I spend, I think that the Blue Preferred Cash Back AmEx would be a better deal for us, and I am surprised that more folks on this board (or at least who have replied to this topic :happy ) don't use it. That said, if I were to use the Fidelity 2% AmEx, and just invest the cash back I receive in my Fido account, it would force me to bump up my savings, even if only marginally.

For what it's worth, my wife is not as interested in finances/investing as I am, but her eyes did light up when I mentioned 6% cash back on groceries and 3% on gas!
"A quiet and modest life brings more joy than a pursuit of success bound with constant unrest" - Albert Einstein

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prudent
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Re: Amex Fidelity CC 2% Cash Back

Post by prudent » Fri Jan 16, 2015 12:29 pm

Leesbro63 wrote:
midareff wrote:BTW, I had an "opportunity" to "buy back" (for lack of better terms) a year of SS last May and restart at age 65, vs. 64. SS actually took the card and FIA Card Services (they are the administrator of the card) helped me make sure it wasn't bounced for amount. LOL, the "reward" on that one was a bit north of $440. + whatever interest the cash made sitting at Ally bank near 50 days. That leaves a long lasting chuckle.
Not the main issue here, but I thought the ability to do that with SS had been rescinded.??
You used to be able to call a do-over any time if you repaid all the benefits you received, now it's limited to one year.

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