So why did fidelity mail me a debit card too?

[Christina_xyt]

I got my fidelity investment rewards credit card today. And before I applied, I did open the cash management account (and the brokerage account.. kinda forced me to when i open the CMA)

Today I also receive the fidelity visa gold check card.. I don't know why.. i logged in and saw that it's connected to my CMA.. But I don't really need another debit card.. Should I just leave it like that? Would I get any extract charge or maintainance fee or whatever?

[mongstradamus]

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@Christina_xyt wrote:

I got my fidelity investment rewards credit card today. And before I applied, I did open the cash management account (and the brokerage account.. kinda forced me to when i open the CMA)

Today I also receive the fidelity visa gold check card.. I don't know why.. i logged in and saw that it's connected to my CMA.. But I don't really need another debit card.. Should I just leave it like that? Would I get any extract charge or maintainance fee or whatever?

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I thnk they sent you debit card for access to your CMA account its basically an checking account. You can just SD or shred it if you really think you aren't going to use it. I think its nice to have it just in case you need to withdraw money, don't they waive atm fees. BTW gratz on fidelity amex card, thats next on my list of cards to accquire :-)

[Christina_xyt]

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@mongstradamus wrote:

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@Christina_xyt wrote:

I got my fidelity investment rewards credit card today. And before I applied, I did open the cash management account (and the brokerage account.. kinda forced me to when i open the CMA)

Today I also receive the fidelity visa gold check card.. I don't know why.. i logged in and saw that it's connected to my CMA.. But I don't really need another debit card.. Should I just leave it like that? Would I get any extract charge or maintainance fee or whatever?

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I thnk they sent you debit card for access to your CMA account its basically an checking account. You can just SD or shred it if you really think you aren't going to use it. I think its nice to have it just in case you need to withdraw money, don't they waive atm fees. BTW gratz on fidelity amex card, thats next on my list of cards to accquire :-)

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Thanks. I am so happy to have it too. My average spending each month is over 4K.. So i feel like having this card can benefit me most since most of my spending aren't really qualified for the rewards from discover or chase. Although I only get 2500 limit..(not sure if it's very little or fair since I only have 14 months credit history and my last card (discover) was approved last year early December.)

I guess I will keep the debit card for now.. but I don't think I am gonna need it. I am not going to activate it for now. I guess we will see what happen to this debit card in the future.. 

[dta]

Several months ago, I opened my Fidelity CMA/brokerage acct/AMEX in one shot too. Actually just activated my debit card this week and put a couple hundred in the CMA account. Read that Fidelity refunds all ATM fees, so I figured it'd be a nice backup to have if I'm out instead of searching for ATMs from my bank.

[IWOL]

There are no fees associated with having the debit card. Fidelity reimburses you for all ATM charges so it's actually a good card to have if you ever need to withdraw cash from your CMA account.

You can use it to withdraw any cash rewards you earn if you don't want to invest the cash in the brokerage account.

[trumpet-205]

CMA is basically a checking account, so of course they sent your a debit card.

Fidelity actually waive all ATM fee excluding FTF. This is in contrast to Charles Schwab where they waive only the ATM withdrawl fee but charges no FTF.

[nyancat]

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@trumpet-205 wrote:

CMA is basically a checking account, so of course they sent your a debit card.

Fidelity actually waive all ATM fee excluding FTF. This is in contrast to Charles Schwab where they waive only the ATM withdrawl fee but charges no FTF.

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An ATM withdrawal is all you really need, who actually checks their balance at an ATM? And very few ATMs charge to check balance. Schwab's lack of FTF is much better than Fidelity's FTF but not check balance fee.

[Anonymous]

Congrats! Likely the Debit Card is for your CMA as has been already reported. May want to keep it for account access.

[Christina_xyt]

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@dta wrote:
Several months ago, I opened my Fidelity CMA/brokerage acct/AMEX in one shot too. Actually just activated my debit card this week and put a couple hundred in the CMA account. Read that Fidelity refunds all ATM fees, so I figured it'd be a nice backup to have if I'm out instead of searching for ATMs from my bank.

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wait what? So you can access ANY ATM from that card without any charge????????? that sounds like a good deal??

[mongstradamus]

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@Christina_xyt wrote:

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@dta wrote:
Several months ago, I opened my Fidelity CMA/brokerage acct/AMEX in one shot too. Actually just activated my debit card this week and put a couple hundred in the CMA account. Read that Fidelity refunds all ATM fees, so I figured it'd be a nice backup to have if I'm out instead of searching for ATMs from my bank.

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wait what? So you can access ANY ATM from that card without any charge????????? that sounds like a good deal??

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I think its actually anywhere in the world and they reimburse you any atm fees you get. Yes its pretty darn nice to have. Its an lot better deal than most of the brick and mortar banks.