Replacing Fidelity AMEX with DC

[yfan]

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@ezdoesit wrote:

Did you already product change?  The reason I ask is I would suggest keeping the Dividend open for the 5% categories plus the dividend lets you max out the yearly limit in one quarter not like ohers that only let you do $1500 per quarter.  Also going around has been a targeted offer for a $200 sign up bonus some people on here got the sign up bonus even after they applied by sending a secured message to the EO.

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Yes, I already PC'ed. It's a good point about the Dividend that it lets you max out the entire cashback in a single quarter, but that's about the only useful thing about the Dividend. I have had the card for more than 3 years now, and I haven't found the categories very useful, and it's a PITA to have to wait till I have accumulated $50 to cash out. I would rather have a straight 2% cashback, as my category spends are pretty well taken care of by Discover. But... I do have until November 12 to do a take-back, meaning I could reverse the change I have made to my account. I also might look into the bonus.

Here's the thing: I am probably a bit atypical in the sense that a lot of category spends that would otherwise be helpful to be is taken up by... Costco. Groceries? Costco. Drugstores? Costco. Theme parks? Costco sells discounted passes. Costco even has some great restaurant gift cards at about a 20% discount. Gas? Costco, obviously. That leaves home improvements, etc., and Home Depot is covered year-round by Discover as long as I shop online. I shop online, order an item, pay for it, and go pick it up at the local store. Skip the lines AND get my bonus cashback. Basically, my Costco membership, the Costco Amex, and Discover have me covered.

On the other hand, I DO have a kind-of 2% cashback card already: the Orbitz Visa. Its redemption options are limited in the sense it can only be redeemed for hotels booked on Orbitz, but on the other hand, redemption can be quick and even for a few pennies. And yes, I can use them. So maybe you DO have a point...

[yfan]

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@mongstradamus wrote:

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@yfan wrote:

If 2% cashback at Costco isn't important, then I'd say go for it. I just mulled it over for a long time and just hung up the phone from requesting a product chance to the DC from my Dividend. I'm looking forward to what is essentially a straight 2% card. It does not bode too well for my Capital One QS though. I would hate to SD them but other than traveling abroad, I no longer see use for them.

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Not to be an dead horse but there are still some advantages QS has over DC, i wouldn't be so quick to dump qs.

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Chief among which is the fact that you can redeem rewards instantly and in whatever amounts you want. In that respect, the DC is well ahead of the Dividend, which has a high $50 threshold for redemption and an even more ridiculous $50 increments. Though I wasn't that happy with the Dividend's rewards categories, it was the high redemption threshold that sparked my wish to change. With the DC, one can redeem at $25.

[Anonymous]

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@yfan wrote:

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Chief among which is the fact that you can redeem rewards instantly and in whatever amounts you want. In that respect, the DC is well ahead of the Dividend, which has a high $50 threshold for redemption and an even more ridiculous $50 increments. Though I wasn't that happy with the Dividend's rewards categories, it was the high redemption threshold that sparked my wish to change. With the DC, one can redeem at $25.

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Yes!   I PC'd my Premier to the Dividend (to avoid the AF on that card, just before it was somewhat un-nerfed), and even though for the first year they are giving 2pts per $, it's a real pain to reach $50 as most of the time I have better cards.   Maybe I should just SD it hoping that drug stores comes up 1Q.

[heyitsyeh]

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@Involver wrote:
Why close it? FIA is good with CLI on this card, it can be combined with other BoA lines in the future, and there is no AF.

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What do you mean combined? I was looking to make a move over to Better Balance Rewards and simply app for the DC. Would I have to apply for BBR and then transfer the Fidelity Amex limit that way (which would close the Fidelity Amex?)?

[SunriseEarth]

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@wacdenney wrote:

I've had nothing but heartache from Citi and nothing but love from FIA personally.  My Diamond Prefferred is my lowest limit and has been for a long time.  Citi wont give me a CLI for anything.  I will probably go ahead and PC my Diamond card to DC in November but I'm certainly not dumping Fidelity.  They have been good to me unlike Citi.

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Some creditors love you, some don't.   If Citi liked me as much as AMEX did, I'd be very happy with my DC.  

[weehoo]

Maybe Citi is conservative with newer card holders.  I have had my American Airlines card since 1999, and they seem to just keeping giving me more credit. Not huge limit, but decent ones. 

[celluloid17]

I'm in the same boat as the OP.  I have both the Fidelity Amex and the Double Cash.  My Fidelity Amex is now primarily being used just for Costco, which I don't go to very often and nor do I spend a great deal when I do.  I currently have 1134 Fidelity points and I would need to spend nearly $2000 more to redeem my points for cash, so given that the bulk of my spend is spread out over other rewards cards, it will take me a very long time for my points to translate into dollars.  I have debated about whether or not if it's even worth keeping (along with the Fidelity CMA I'm not using), but if the Double Cash card ever gets nerfed or goes extinct, I will use the Fidelity card as a back-up.  

I actually prefer the Fidelity Amex to the Double Cash card (FIA/BOA over Citi), but given the fact that an Amex isn't as useful to me as a MasterCard for what I use the card for (i.e., paying bills, some of which only accept MC/Visa), I most likely would not have app'd for the Fidelity Amex if the Double Cash card had been an option.

[Involver]

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@heyitsyeh wrote:

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@Involver wrote:
Why close it? FIA is good with CLI on this card, it can be combined with other BoA lines in the future, and there is no AF.

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What do you mean combined? I was looking to make a move over to Better Balance Rewards and simply app for the DC. Would I have to apply for BBR and then transfer the Fidelity Amex limit that way (which would close the Fidelity Amex?)?

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I mean that you can consolidate limits on BoA/FIA cards.  

So, yes, you could presumably transfer the limit from the Fidelity Amex to BBR if you so chose to do so.