Fidelity American Express card ends 2% cash back?

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elisa_md
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Fidelity American Express card ends 2% cash back?

Postby elisa_md » Mon Feb 21, 2011 9:46 pm

Did the Fidelity American Express credit card demote the rewards from 2% to 1.5% cash back? I was going to fill out an application in the near future and by happenstance received an email today from Fidelity regarding their card.

Invest in your future with everyday purchases.

* Turn 1.5% of purchases into a deposit in your Fidelity account (earn 2% once you've spent $15,000 annually)†
* No limits on cash rewards
* No annual fee†



Did the card not offer a flat 2% in the past?


jeffysdad
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Postby jeffysdad » Tue Feb 22, 2011 5:21 am

According to the Fidelity website, it's still 2% for the Amex. The Fidelity Visa always has and stil does offer 1.5%.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

elisa_md
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Postby elisa_md » Tue Feb 22, 2011 3:20 pm

I examined the email more closely and it was not in reference to the Fidelity American Express card but the Visa. Thank you for bringing attention to my oversight.

That begs the question, why would one not choose the American Express Fidelity over the other given the higher rewards? As listed in your signature line you have both types, may I ask why?

jeffysdad
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Postby jeffysdad » Tue Feb 22, 2011 4:14 pm

The Amex is my first choice; on the rare occasion when Amex is not accepted I have the Fidelity Visa as a backup. I like the fact that both accounts are viewed on the same web page and summaries also appear on my investment accounts overview page at Fidelity.

If you are considering one, I would suggest getting both as you would possibly be grandfathered into the 2% and 1.5% in case they are reduced in the future. If the Amex went to 1.5%, for instance, I probably would just carry the Fidelity Visa and use one of my Chase cards as a backup.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

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Elliot Castro
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Postby Elliot Castro » Wed Feb 23, 2011 5:16 am

The Amex is my first choice; on the rare occasion when Amex is not accepted I have the Fidelity Visa as a backup


I have a bit of an opposite problem here. Amex is rarely accepted here, even in the tourist local. Though if you search really hard, you can finally stumble across a merchant supporting it now and then.

elisa_md
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Postby elisa_md » Wed Feb 23, 2011 2:44 pm

Has the 2% cash back on the Fidelity American Express credit card ever been altered in the past? Which do you hold;

Fidelity® Investment Rewards® American Express® Card
Fidelity® Investment Rewards® American Express® Card
Fidelity Investments 529 College Rewards® American Express® Card

Upon a closer inspection of the application can each not serve the same purpose, allowing the cash back to go into any Fidelity account?

Does the previous poster reside in the U.S.?

jeffysdad
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Postby jeffysdad » Wed Feb 23, 2011 3:44 pm

I have both the Amex Retirement Rewards and Amex Investment Rewards in addition to the Visa Investment Rewards. I got the Amex Retirement Rewards first and had the cash deposited into my Roth IRA, which was fine. But I decided I'd rather just have it go into a regular account, so I opened the Investment Rewards card and a Fidelity MySmartCash account, which is essentially a checking account. I kept the Retirement Rewards card as a backup.

In my wallet I have Investment Rewards Amex and Visa and the MySmartCash Visa debit. The three cards sort of match (which I like) but they're different enough to tell them apart.

I really recommend getting at least one of these cards as I've found the FIA Card Services website and telephone customer service to be very good, especially for a no-fee card. Schwab used to have a 2% rebate card from FIA but it was dropped. I've read posts elsewhere on the web from people who wished they had signed up for the Schwab card while it was still offered. Current cardholders are grandfathered, as I understand it.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

monoron
 
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Postby monoron » Thu Feb 24, 2011 8:11 pm

How long have the Fidelity cards from American Express been offered?

machine
 
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Trying to get the Amex Fidelity

Postby machine » Fri Feb 25, 2011 3:47 am

Hello all,

Before I start, I must say, I love this forum. I frequent this place because of all the useful information. Long time browser, first time poster.

I'm tried applying for the Fidelity Amex because of the 2% cashback reward, sadly I didn't get an instant approval, but instead a msg saying that I'll get a notice in the mail. I went ahead and called FIA card services the next day and this nice lady told me I was denied because my income is too low.

I'm only a 22 year old new college graduate, with not much money, but I do have a good 5 year credit history with no bumps. Does anyone here have any idea on what they required income would be in order to be approved? I'm kind of embarrassed to state my annual income :oooo so I was just wondering where the line is drawn.


Do you guys think it'd be any help if I called back again tomorrow morning and spoke to a different CSR, asking if they can approve me for a small credit line?


My current cards: (I don't carry any balances)
AMEX: American Express Blue Sky
BoA: BankAmericard - no rewards 4.75% APR on purchases (only for emergencies)
Citi: Citi Forward - 5 Points on restaurants / movies / books
Discover: Discover More - 5% on rotating categories
Capital One: Capital One Sony Rewards Card - (hardly used)
[AMEX:Blue Sky] [BofA:BankAmericard] [Capital One:Sony Rewards] [Citi:Citi Forward]
[Discover: Discover More]

As of 2/25/11
FICO TU: 735
FICO Equifax: 753

jeffysdad
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Postby jeffysdad » Fri Feb 25, 2011 6:40 am

Machine, FIA is a unit of Bank of America. If you call them back and ask them to open the Fidelity account while closing your current B of A account and moving credit line to the Fidelity, I bet that will work. The same rep should be able to do all of that. If they balk, asked to be transfered to a supervisor.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.



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