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It's a good 2% card with 1% FTF. It has a minimun redemption of 25 I think.
There is nothing wrong with getting it.
I have a Fidelity account, but avoid the credit card. I have another credit card with Elan Financial and they had several problems with credit card numbers getting leaked and had to reissue me a new number twice. You're better off getting a different 2% card.
i don't have one, but i know people are very upset because they changed the fidelity phone-app and now its useless. plus theres the min redemptions and fidelity bank account requirements. this started out as an amex card too, before they changed it.
It used to be my major 2% card, but i have stopped using it. For my needs, the PPMC is just better, no min redemption vs $50, and no FTF vs (a low, but still!) 1%.
I got it when it was an Amex, and at that time it really was the only 2% around. Now it's much more crowded!
Re retirement, I guess it makes it an automatic way to add some money to a retirement account (or other Fidelity account), but unless the spend is huge, the 2% is going to be pretty insignificant compared to making real regular contributions!
I have Fidelity as well as Double Cash and PayPal MC (all 2%). I haven't had trouble with any of them.
My current preference is PP > DC > Fidelity, just based on redemption thresholds.
Occasionally Fidelity makes offers like "Once you spend $550, in net purchases, additional net purchases will earn 1 Bonus Point per dollar spent (up to 2,000 Bonus Points)". I tend to accept these offers.
And if I have a very large purchase (where redemption thresholds become moot) I may spread the purchase among the cards to have the same utilization on each.
That is a valid point right there.
@longtimelurker wrote:Re retirement, I guess it makes it an automatic way to add some money to a retirement account (or other Fidelity account), but unless the spend is huge, the 2% is going to be pretty insignificant compared to making real regular contributions!