topic Re: Fidelity Amex in Credit Cards

Fidelity Amex

clocktick — Wed, 12 Mar 2014 18:44:13 GMT

Which account do I open to link to the Amex?

https://www.fidelity.com/open-account/all-accounts

Is it just the brokerage account: Brokerage Account – The Fidelity Account®

or are there other ones that can link to the card too?

Also, is it a HP to open the account? I believe it was when I opened Charles Schwab years ago.

TIA!

Re: Fidelity Amex

mongstradamus — Wed, 12 Mar 2014 18:48:20 GMT

@clocktick wrote:
Which account do I open to link to the Amex?

https://www.fidelity.com/open-account/all-accounts

Is it just the brokerage account: Brokerage Account – The Fidelity Account®
or are there other ones that can link to the card too?

Also, is it a HP to open the account? I believe it was when I opened Charles Schwab years ago.

TIA!

I believe you can open the cash management account(https://www.fidelity.com/cash-management/fidelity-cash-management-account/overview). you can transfer money from that account to your other checking and savings account easily.

Re: Fidelity Amex

celluloid17 — Wed, 12 Mar 2014 18:57:56 GMT

I don't have this card, but you can look into opening a Cash Management account, which I believe is just a savings account with no minimum requirements.

ETA: Oops! the above poster beat me to it.

Re: Fidelity Amex

IWOL — Wed, 12 Mar 2014 19:16:16 GMT

The cash managment account is more like an interest checking account. You get an ATM Debit card and checks with it. Its actually a pretty good account, they refund all ATM fees and there is no monthly account fees.

The app for the credit card will definitely be a hard pull most likely on EX.

Re: Fidelity Amex

Longroad — Wed, 12 Mar 2014 19:24:14 GMT

@IWOL wrote:
The cash managment account is more like an interest checking account. You get an ATM Debit card and checks with it. Its actually a pretty good account, they refund all ATM fees and there is no monthly account fees.

The app for the credit card will definitely be a hard pull most likely on EX.

+1 I can definitely confirm that it will be a hard pull. Mine was on EX. I opened a CMA account in December. It is very easy to work with.

Re: Fidelity Amex

Anonymous — Wed, 12 Mar 2014 21:31:37 GMT

@Longroad wrote:
@IWOL wrote:
The cash managment account is more like an interest checking account. You get an ATM Debit card and checks with it. Its actually a pretty good account, they refund all ATM fees and there is no monthly account fees.

The app for the credit card will definitely be a hard pull most likely on EX.
+1 I can definitely confirm that it will be a hard pull. Mine was on EX. I opened a CMA account in December. It is very easy to work with.

I think the question is whether the CMA is also a hard pull. Schwarb do a hard pull for their bank account.

Re: Fidelity Amex

grinlikechelsea — Wed, 12 Mar 2014 21:34:09 GMT

If that's the question, I don't recall being HP'ed for the CMA.

Of course, the AmEx app will be a HP.

Re: Fidelity Amex

joshkm — Wed, 12 Mar 2014 22:15:50 GMT

I got my Fidelity Amex last month. Once I knew I was approved, I went and opened a Cash Management Account and it wasn't a hard pull for me.

You'll have to print out a form and mail it in if you want the ability to write checks. I didn't bother because I really don't plan on using it except to have my rewards deposited into it and you can move funds in and out to any other bank accounts you link up. There was no minimum deposit requried to open.

To manage your Amex card and setup the automatic points redemption into your Fidelity account, you'll use FIA's website here.

https://www.ibsnetaccess.com

I thought that was the hardest part of all of it because their website is very dated, but once you do that, you'll be set.

When they hard pulled me for the Fidelity Amex, it showed up as a "Business Loan" instead of "Credit Card". I thought that was a little odd, but whatever as long as they gave me the card!

Re: Fidelity Amex

Longroad — Thu, 13 Mar 2014 01:43:46 GMT

@Anonymous wrote:
@Longroad wrote:
@IWOL wrote:
The cash managment account is more like an interest checking account. You get an ATM Debit card and checks with it. Its actually a pretty good account, they refund all ATM fees and there is no monthly account fees.

The app for the credit card will definitely be a hard pull most likely on EX.
+1 I can definitely confirm that it will be a hard pull. Mine was on EX. I opened a CMA account in December. It is very easy to work with.
I think the question is whether the CMA is also a hard pull. Schwarb do a hard pull for their bank account.

I actually got a HP for my CMA account

Re: Fidelity Amex

ficobgtx — Thu, 13 Mar 2014 02:25:39 GMT

Guess it is a YMMV. Opening a CMA was not a hp for me, and I don't even have this card. I do have a 401k with Fidelity though.

Re: Fidelity Amex

clocktick — Thu, 13 Mar 2014 02:26:18 GMT

So out of these: https://www.fidelity.com/open-account/all-accounts

Which is the basic one to link the Amex?

I don't need to write checks. Can you link it to your bank account?

Re: Fidelity Amex

H4LO — Thu, 13 Mar 2014 02:32:21 GMT

@clocktick wrote:
So out of these: https://www.fidelity.com/open-account/all-accounts

Which is the basic one to link the Amex?

I don't need to write checks. Can you link it to your bank account?

Cash Management Account is the only way if you're looking to redeem your rewards as they will deposit it into your account.

Not to mention, it's the only one that is fee free and doesn't have a sign up requirement.

I signed up the other day, the only HP was on EX for the card.