Fidelity Credit Card for Best All Around Card?

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TheOscarGuy
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Re: Fidelity Credit Card for Best All Around Card?

Post by TheOscarGuy »

ruanddu wrote: Thu Apr 04, 2024 2:32 pm Hello, looking at getting the Fidelity 2% back on all purchases credit card for an all around credit card for daily use coupled with a Costco Citi card for gas and restaurants. Does this seem like an overall wise combo?

Do you know if Fidelity requires that a person removes their credit freezes at the 3 bureaus before applying for card? Thank you.
I had it and closed it. I was mainly not happy with CS when I needed to use them and their UI. This was a few years ago so things may have changed since then. I am a big fan of capital one, even with their annual fees their app and CS has been really good.
zero_coupon
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Re: Fidelity Credit Card for Best All Around Card?

Post by zero_coupon »

zero_coupon wrote: Sun Jun 09, 2024 12:49 am Must the Fidelity credit card be issued with the exact form of one's name (e.g. with/without middle initial) as appears on one's Fidelity account? Or is it acceptable to use a variation on the CC application (e.g. add/remove middle initial)? Or is the application auto-filled such that there's no choice?
This matter is now raised in the "Fidelity One-Stop" thread:
viewtopic.php?p=7906103#p7906103
Lastrun wrote: Tue Jun 11, 2024 5:15 am I am at VG, BofA/ME and Fidelity, and I view this Reddit post and list as bunk. BofA has been nothing but good to me, never had a fee I can remember, never had a time-wasting sales call (have been left a VM 2 times in 7 years), had only excellent customer service with no hold times, and never had a limit issue. I have received thousands of dollars of bonuses from them for everything from opening a checking accounts or credit card, to transferring assets, to best in class credit card cash back. The offering has only improved since I have been there-unlimited trades, no more push issue, and better cash options. Is it perfect, no, but the point is, put your emergency fund there, along with ETFs for some of your taxable and be done with it.

I have had some of those things on the list at Vanguard, i.e. peppered with PAS pop ups, emails, etc. That said, Fidelity is a great card for an all around 2%’er, but I would not fear BofA. YMMV.
Good to hear some positives about BoA, vs this Fidelity offering. Did you have any trouble opening your accounts online (i.e. had to go into branch)?
Lastrun
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Re: Fidelity Credit Card for Best All Around Card?

Post by Lastrun »

zero_coupon wrote: Tue Jun 11, 2024 12:46 pm Good to hear some positives about BoA, vs this Fidelity offering. Did you have any trouble opening your accounts online (i.e. had to go into branch)?
So I started at BofA around 2018 from scratch (no current accounts), and I did everything online (opened checking, opened Merrill Edge, and applied for two credit cards) and did not have to go to the branch. I too have been reading some of the posts of people having issues on account set-up. I am not sure, but I think the folks with in-person requirement issues must either have some identity confirmation issue, Chexsystems issues, or similar data issue that triggers an algorithm.

As an example, a family member had an old cell phone number that was in a business name a few years ago but changed into the family member's name. Despite this, the Capital One online application did not want to accept the number as hers for 2fa and other purposes and made her go into the branch to set up the account. This is despite the fact that the person had been a customer of Capital One before even the Chevy Chase Bank days.
zero_coupon
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Re: Fidelity Credit Card for Best All Around Card?

Post by zero_coupon »

Lastrun wrote: Tue Jun 11, 2024 12:55 pm As an example, a family member had an old cell phone number that was in a business name a few years ago but changed into the family member's name. Despite this, the Capital One online application did not want to accept the number as hers for 2fa and other purposes and made her go into the branch to set up the account. This is despite the fact that the person had been a customer of Capital One before even the Chevy Chase Bank days.
It seems most banks' and brokerages' agreements contain a provision allowing them to contact one's phone provider to obtain information for identity verification purposes. This includes personal details, type of payment plan, device details, etc. Hard to believe the phone providers are so loose with customer information.
bople
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Joined: Sat Sep 26, 2020 2:16 pm

Re: Fidelity Credit Card for Best All Around Card?

Post by bople »

Lastrun wrote: Tue Jun 11, 2024 12:55 pm
So I started at BofA around 2018 from scratch (no current accounts), and I did everything online (opened checking, opened Merrill Edge, and applied for two credit cards) and did not have to go to the branch. I too have been reading some of the posts of people having issues on account set-up. I am not sure, but I think the folks with in-person requirement issues must either have some identity confirmation issue, Chexsystems issues, or similar data issue that triggers an algorithm.
I am not sure BofA uses Chexsystems. We have had our BofA account since 2014 and there was nothing on my Chexsystems file when I pulled it last week before I froze it. I think the big banks use Early Warning Services, but they don't have online accounts or easy freeze/unfreeze and I had calling on the phone.
bople
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Re: Fidelity Credit Card for Best All Around Card?

Post by bople »

zero_coupon wrote: Tue Jun 11, 2024 2:59 pm
Lastrun wrote: Tue Jun 11, 2024 12:55 pm As an example, a family member had an old cell phone number that was in a business name a few years ago but changed into the family member's name. Despite this, the Capital One online application did not want to accept the number as hers for 2fa and other purposes and made her go into the branch to set up the account. This is despite the fact that the person had been a customer of Capital One before even the Chevy Chase Bank days.
It seems most banks' and brokerages' agreements contain a provision allowing them to contact one's phone provider to obtain information for identity verification purposes. This includes personal details, type of payment plan, device details, etc. Hard to believe the phone providers are so loose with customer information.
I think this is https://nctue.com/ being used. Probably similar to how we get the "where have you lived, which car have you leased, do you know any of the following people" questions for identification--usually a LexisNexis product being used.
TravellingTechOnFire
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Re: Fidelity Credit Card for Best All Around Card?

Post by TravellingTechOnFire »

Here's what we do:

5% for eating out: Citi Custom Cash(up to $500/month, plenty for us) $300/year cash back; $180 more than Fidelity
5% for grocery stores: Citi Custom Cash #2(up to $500/month, again plenty) $300/year cash back; $180 more than Fidelity
3-5% Amazon: Amazon card or Discover (we don't waste the money for prime). This is super easy since we don't even carry a card for this.
2% everything else: Fidelity.


I'd love to use only Fidelity for the simplicity but since we are still fairly poor, its hard to pass up 3% savings on groceries and eating out.

So we carry three cards and it is simple enough for us. Hits the right balance of ease and optimization.

In addition to this, I tend to churn a couple/few cards per year when we can get $500-$750 spend bonuses. We probably average about $2k/year in cash back and new card spend bonuses.
dachshunddad
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Re: Fidelity Credit Card for Best All Around Card?

Post by dachshunddad »

ruanddu wrote: Thu Apr 04, 2024 2:32 pm Hello, looking at getting the Fidelity 2% back on all purchases credit card for an all around credit card for daily use coupled with a Costco Citi card for gas and restaurants. Does this seem like an overall wise combo?

Do you know if Fidelity requires that a person removes their credit freezes at the 3 bureaus before applying for card? Thank you.
Sounds like a great combo. I have had the Fidelity card for years. No issues and set it to deposit cash automatically.

I’m moving in a similar cash back direction with my primary cards being fidelity, Costco visa and adding Amazon prime visa (we get most of our groceries at whole food)
Bama12
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Re: Fidelity Credit Card for Best All Around Card?

Post by Bama12 »

I use my local Credit Union.

5%- Restaurants and gas
3%- Groceries, discount stores, wholesales clubs, utilities, phone and streaming services
1.5%- all other purchases
WhiteMaxima
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Re: Fidelity Credit Card for Best All Around Card?

Post by WhiteMaxima »

I have FIA ELan 529 2% reward Card for 24 years since my 1sk was born. It helped my kid through college.
yolointopants
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Joined: Wed Jun 29, 2022 8:08 am

Re: Fidelity Credit Card for Best All Around Card?

Post by yolointopants »

There's eligibility restrictions, but if you meet the membership requirements, Firefighters First Credit Union has a 2% cashback Visa Signature card. No foreign transaction fees.

They do provide auto rental collision damage waiver. There are a number of vehicles it does not cover, including trucks and cargo vans.
cowbman
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Re: Fidelity Credit Card for Best All Around Card?

Post by cowbman »

zero_coupon wrote: Tue Jun 11, 2024 3:13 am
cowbman wrote: Sun Jun 09, 2024 3:17 pm
madbrain wrote: Thu Apr 04, 2024 6:39 pm We have the Fidelity card, actually 2 of them. We never use them. BofA offerings are superior, IMO, if you have $100k in assets there.
Bofa Unlimited Cash rewards (UCR) will give you 2.625% flat, which is better than 2%. No AF.
BofA Customized Cash Rewards (CCR) will give you 3.5% back at Costco, up to $2500/quarter. No AF.
BofA Premium rewards (PR) will give you 3.5% on travel and dining, and 2.625% on everything else. But has $95 AF.

I use mostly the CCR at Costco, and the PR for everything else. That is a 2-card setup.
Rewards auto-redeem into a Bofa checking account or a Merrill CMA (brokerage) in $25 increments.
--- THIS ----

I had a Fidelity Visa years ago, but I dumped it after moving over to the BoA setup. I still like my 5x cards too and the Citi Sears card. I would argue that the CCR card is the BEST card for Costco, but you should be buying gift cards online with it, so you are receiving up to 5.25% back, and not just 3.5%. :sharebeer
Someone on Reddit thinks the BoA Preferred Rewards program isn't worth the "costs" of putting up with BoA's shenanigans:
https://www.reddit.com/r/personalfinance/comments/vz1jkj/why_im_done_with_bank_of_america_and_merrill/ wrote: Since I use other cards for travel and dining out, I was getting the 2.625% only on general spending. For me, this comes out to at most $1,000 per month. Compared to cards like the Fidelity Visa or Citi Double Cash that give you 2% on everything with no annual fee, the difference in cash back was max $75 per year or on average $6.25 per month ($12,000 x 0.625%).
The pereon then lists the "costs" associated with the extra $6.25/month benefit:
https://www.reddit.com/r/personalfinance/comments/vz1jkj/why_im_done_with_bank_of_america_and_merrill/ wrote: Complex phone trees, long hold times, subpar customer service.
Time-wasting sales calls.
Stingy rewards program conditions.
Dumb fees.
Dumb limits.
Plaid integration mess.
Incessant advertising.
Depends on the user. I call BoA maybe 2-3x a year max. Also, the change was in the last 1-2 years, as Platinum Honors used to send you directly to a Human in the USA
madbrain
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Re: Fidelity Credit Card for Best All Around Card?

Post by madbrain »

Lastrun wrote: Tue Jun 11, 2024 5:15 am
https://www.reddit.com/r/personalfinance/comments/vz1jkj/why_im_done_with_bank_of_america_and_merrill/ wrote: Complex phone trees, long hold times, subpar customer service.
Time-wasting sales calls.
Stingy rewards program conditions.
Dumb fees.
Dumb limits.
Plaid integration mess.
Incessant advertising.
I am at VG, BofA/ME and Fidelity, and I view this Reddit post and list as bunk.
+1 . Almost all of it is
I haven't experiencing any sales calls, stingy rewards, dumb fees, dumb limits or advertising.

The only thing that rings true is the long hold times. But I rarely need to call.

I do wish they had a proper secure messaging system like many other financial institutions do. The one BofA calls "Message center" is read-only - it's more of a notifications system than messaging. Even my credit union has secure messaging, as do Chase, Wells Fargo, and many others.
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