@Turbobuick wrote:
@Dw4250 wrote:
Have you thought about the Fidelity AMEX? 2% on everything including ALL Costco purchases. I shop at Costco a lot and IMHO the Fidelity beats the true earnings card by a mile.
FYI it is a BOA/FIA product.
I thought the Fidelity card required you to own a Fidelity brokerage account? That could be a deal killer for many. I also heard excellent credit was required. I do agree 2% on everything with no cap is a great deal, but can you pocket the rebate or does it have to go back into an investment account? I really am in the dark and asking our of curiosity.
The Amex TE card provides 3% for Costco gas and 2% dining/fast food. If we were to combine the gas rebate and grocery rebate, the average likely would hover around 2% depending on your grocery and gas budget. Costco gasoline is already the least expensive in So California. No other stations even close to them in price will take a CC. Cheaper gas here usually means cash only. We joined Costco/Amex mostly for the gasoline/pharmacy/optics.
Because there are just the two of us now, we do most of our grocery shopping away from Costco and get 5% from Sallie Mae.
Use of a brokerage account is not required. I have mine automatically swept into a Fidelity checking account, from which I can pay bills, write checks, make ATM withdrawals, or ACH transfer into a checking or savings account at any other bank. It's true cashback. And unlike most other cashback cards I have, where you need to accumulate a certain rewards balance and then have to request a redemption, or the CostCo AmEx where you get a once-a-year payout as scrip to take in and redeem at CostCo, the Fidelity automatically deposits your rewards into your cash account every month, and you can immediately use those funds.
Chris.
