Fidelity 2% Cash Back Credit Card

by Madison

I’m busy reevaluating the cash back rewards scene lately. This week, let’s look at the Fidelity Retirement Rewards Card. Like the Schwab card, it offers 2% cash back.

The Fidelity card is our Free Money Friday offer this week.

How to Get Your 2% Cash Back

  1. Open a new Fidelity Retirement Rewards Card and a Fidelity Account*.
  2. Make $2,500 in purchases.
  3. $50 cash back will be credited to your Fidelity account.
  4. Repeat steps 2 & 3.

Fidelity Account Details

Eligible Fidelity Accounts*. You can choose to link your cash back credit card to a variety of Fidelity accounts, including the following:

  • All non-retirement accounts
  • Traditional and Rollover IRAs
  • Roth IRAs
  • SEP IRAs
  • Fidelity–managed 529 Plans

IRS Rules. Be aware that if you select a retirement account, the cash back will count against your yearly contribution limits, so you’ll have to keep careful track.

Credit Card Details

  • No annual fee.
  • 2% cash back on everything, with no cap.
  • Card is an American Express card issued by FIA Card Services.
  • The 2% is tracked in points. You get 2 points for each $1 you spend, and a $50 deposit after you reach 5,000 points.

Action Plan

I’m putting this card on the list of possible cards for my husband. Since I have the old 2% cash back credit card that deposits into our 529 plan, I don’t have a lot of use for this one. But it will be a good back up for my husband when you combine it with the Schwab 2% cash back credit card.


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Posted June 5, 2009 in Credit cards by Madison | Comment
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Comments to Fidelity 2% Cash Back Credit Card

  1. Does it have a foreign transaction fee? Schwab card, from what I have read, does not.

    Andy
    June 5th, 2009 at 10:20 am

  2. Why are all these cards AMEX? You can’t really use AMEX cards as often as you’d like to.

    PK
    June 9th, 2009 at 1:16 pm

  3. Yes, it has the 1% foreign transaction fee.
    Also, with the Investment AMEX you can deposit the rewards into a Fidelity mySmart cash acct and withdrawal money by ATM. They refund all ATM surcharges. Or transfer to another checking acct.
    Fidelity also has a VISA with 1.5% rebate with same benefits. It increases to 2% after $15,000 in purchases.

    Tom
    June 14th, 2009 at 3:25 pm

  4. What sort of credit limit did they give you? How long did it take from the time you applied til you had the card in-hand?

    Robert
    June 28th, 2009 at 4:01 pm

  5. They gave me $5000 each for the AMEX and VISA. The cards are issued by FIA which is BofA and they look at all open accounts with them. The girl at FIA asked several pointed questions but approved me on the spot. I asked for the AMEX to be Fedex’d and received it 3 days later. The VISA took an extra week.
    The rewards can be transferred between all FIA cards at 2500 points.

    Tom
    July 1st, 2009 at 2:05 am
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