@Fico2Go wrote:
Please correct me if I've mistaken.
The biggest advantage with the Fidelity Amex is there is no AF with 2% across the board. Another support factor is there is no quarterly/annual cap on earnings potential. The catch is you need to open a Fidelity account to receive the rewards. Set up a cash management account. It's a 0 fee account that works just like a checking account. Redeem your rewards into that account, then transfer it to your regular bank account.
It appears this product is best for people that do not spend a lot or do not have a product that pays more on gas, groceries, and clothing to benefit from the bonus rewards such as Amex BCP and other rotating category cards like Discover IT that pay up to 5-6%. it's great for people who don't want to worry about what card to use, and also if you have a lot of bills / charges that fall under none of the bonus categories. However it's limitation is that it runs on the Amex network, which sometimes can be somewhat restrictive at times depending on where you shop or who you are trying to pay.
The Fideality Amex cards seems to be valuable if you use multiple cards that pay more than 2% and yet receive a base 2% on everything else.
With that in mind I think the Fidelity Amex would simply offer what my other cards already offer. if you think it's redundant, then don't get it.
CreditAddict/Enharu, I currently get 1.5% using my PayPal debit mastercard on everything. Is there a product on the market that pay 3% or more across the board? And without quarterly/annual caps? Yes. JCB Marukai. However, you will need to stay within the areas that are covered. Link here: https://www.jcbusa.com/for_consumers/speciality-cards/marukai-premium-jcb-card/
If you can make good use of MR / UR / SPG points, sometimes those points can be worth >2ccp. Hence, even for regular purchases that would just give you 1 UR per dollar spent, you are essentially getting 2% for those purchases. Same thing for SPG and MR. Eventually it boils down to how you utilize those points.
Also to add: The JCB Marukai runs on the Discover network. Hence, you might have limited use for it as well if most of the places you shop at do not accept Discover.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
