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Frequent Contributor
Posts: 470
Registered: ‎02-07-2011
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Fidelity Retirement Rewards Amex?

Anybody have this? Looks like a complete 2% back across the board (into an IRA - 529 or retirement), with no AF... Sounds like a really solid, long-term card.

"Credit is purely a cash flow tool. Thinking of credit as extra money you didn't have before makes it an EXPENSIVE cash flow tool."
Valued Contributor
Posts: 2,039
Registered: ‎01-24-2012
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Re: Fidelity Retirement Rewards Amex?

I have the Fidelity Investment Rewards American Express card but they are the same thing as you can deposit rewards into any Fidelity account. Just incase you did not see it, it is only two percent if you deposit into a Fidelity account. Otherwise it varies, until you get to 25000 points.

Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: Fidelity Retirement Rewards Amex? required to open one?

2% of my spending into my retirement account sounds like a good deal. Do you have to have a fidelity account? If so what's the minimum balance

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
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Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: Fidelity Retirement Rewards Amex? required to open one?

So I was reading and Roth IRAs are eligible. Is this a revolver? Does it backdate like real amexes?

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Valued Contributor
Posts: 2,039
Registered: ‎01-24-2012
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Re: Fidelity Retirement Rewards Amex? required to open one?


webhopper wrote:
2% of my spending into my retirement account sounds like a good deal. Do you have to have a fidelity account? If so what's the minimum balance

I have the Fidelity Cash Management account which is free with no minimum balance. It also has free cheques, no atm fees, bill pay, and other features. I got it just for the card. You do not have to have a Fidelity account, but if you do not you have to spend 12500(25000 points) to be able to redeem for the full 2%. With a Fidelity account you get the full 2% reward no matter what. Here is the complete list of fees for Fidelity: https://www.fidelity.com/welcome/pricing-fees

 

It is a revolver, the rate is 13.99 for everyone and no it will not backdate. It is issued by FIA Card Services so American Express has nothing do do with it other than it being processed on their network.

Frequent Contributor
Posts: 419
Registered: ‎03-05-2012
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Re: Fidelity Retirement Rewards Amex? required to open one?


webhopper wrote:
So I was reading and Roth IRAs are eligible. Is this a revolver? Does it backdate like real amexes?
I don't know about Roth. But it is a revolver however it's not underwritten by Amex, it's just on their network. So no backdating.
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: Fidelity Retirement Rewards Amex? required to open one?

Awe ok that stinks I don't want to add a new account for at least 3 yrs and would prefer a backdated account at that time. Ill just keep redeeming my nfcu cash into my kids savings account.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Frequent Contributor
Posts: 470
Registered: ‎02-07-2011
0

Re: Fidelity Retirement Rewards Amex?

Well, it sounds like a candidate for my next "long-term" card, but I won't be applying until Q4 or next year. I'll let you all know how it goes, thanks for the feedback!

"Credit is purely a cash flow tool. Thinking of credit as extra money you didn't have before makes it an EXPENSIVE cash flow tool."
Frequent Contributor
Posts: 474
Registered: ‎09-12-2010
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Re: Fidelity Retirement Rewards Amex?

Ive had this card since december of 2011, its pretty good ive already redeemed $50, i have a roth ira and a cash management account and I deposit the rewards into the cash management account for the 2% redemption with no fees. You have to have a minimum of 5,000 points or $50 equivalent to redeem. I was only approved for $1,000 though not very much its because I have a BOA cash rewards card of $2,000 and that accounts into FIA card services maximum risk for me for $3,000 total.

FICO scores - 727 TU(Walmart)/ 727 EX(Amex app)/ 721 EQ(Discover app)
In My Wallet: BankAmericard Cash Rewards($2,000), Discover More($3,000), Chase Freedom($2,000), Fidelity Amex($1,000), Sam's Club Discover($4,400), SallieMae 5% Mastercard($5,000), Amex BCE($2,000) ,Citi Simplicity($2,000), Paypal SmartConnect($3,100), Walmart Store Card($2,350), Chase Amazon Visa($700), Target RedCard($500), Capital One Cash Rewards($750), Best Buy Store Card($1,900), HHGregg($2,000), Amazon Store Card($1,250),Newegg Preferred Account($2,000), Park West($2,000), BankAmericard Travel Rewards($5,000)
Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Fidelity Retirement Rewards Amex?

Does anyone know if this account is part of the FIA accounts sold to US BankCorp by BofA?

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