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Trying to verify right now - I wasn't even sure if for some reason you couldn't have both the 2% Fidelity AMEX AND the 1.5% Visa (which I have currently) but apparently this is OK. I've seen some references to people using the Visa as a backup, charging most things to the AMEX.

If I go into a situation where I'm charging 90% of the stuff to the AMEX and the rest to the Visa for places that don't accept it, do the points somehow pool together on the Visa, or do I have to wait a very long time until I get to the 5000 points required? If not, I have the Chase Freedom that I use at some places when they're doing the 5%, and would probably rather use that as a backup, since redeeming would be easier (and more fair compared to other redemption systems, 1 point is 1 cent) and I use that card more often for the 5% stuff.

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Really depends on what benefits your looking for.

All the service benefits normally on AMEX are probably are not on this ... (more)

rlaw (Feb. 03, 2013 @ 1:37a) |

There is a distinction between a payment processing network and a card issuer. The card is not issued by AMEX and does n... (more)

HiLine (Feb. 03, 2013 @ 2:13a) |

Couldn't you just charge $500 on the AMEX, transfer 2500 to visa and cash out all of it?

tjguitar85 (Feb. 15, 2013 @ 6:16p) |

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I have both the Fidelity AMEX and the 1.5% Mastercard (this is the old product that doesnt go up to 2% when you reach a certain spending threshold).

The rewards balance for each card is separate. In other words, they are not pooled together for redemption.

I have not figured out a way to combine the points, I'm not sure I'll ever actually spend enough on the Visa to redeem the first $50. I've found that the places that don't take AMEX aroudn here are mostly independent fast food/restaurants...I have better cards for those categories. I did use the visa to get my haircut once, and I imagine it would be my card for dry cleaners, but it would take several years of haircuts and dry cleaning to redeem the first $50 of rewards.


I think it only makes sense if you are not bothering with points, miles, rotating categories, and literally only use the two fidelity cards for everything....even then, it would probably still take a long time. Unless you spend a lot.

Points do not pool together. Unlike Chase Ultimate Rewards or Citi ThankYou rewards, it does not go into one pool.

I have both the Visa and the American Express, and you can transfer the points between accounts; I forget but I think you need at least 2500 points. You can only transfer in 2500 point increments and they do expire but that really shouldn't matter if you're transferring for the purpose of redeeming.

Deleted.

They are separate pools, but you can transfer the points earned under the Visa into the AMEX (or vice versa). The minimum to transfer is 2500.

which is why I carry Fidelity AMEX and Priceline Visa for a while but as soon as I redeemed all my points @ Fidelity AMEX, my main spending card is Priceline now.

Thanks so much on the clarification. Could someone help me out with another question? I've seen people on here claim they were able to call in and get their Visa converted to an AMEX.

I did something very very stupid and applied for the AMEX online - I've had the existing Visa and have been a loyal customer for years (always pay in full and on time). However, my current financial situation looks bad since I am disabled and currently have no source of real income, just savings and family support (waiting for SSDI). I didn't lie about this on the application. I haven't applied for a card in years and stupidly thought that since I was already a Fidelity customer, that applying was just a formality. Of course because I put the income thing I wasn't instantly approved. I don't yet know if I'll be denied, but I have a sinking feeling that this is going to happen. I'm so upset, since this will put me in a rather humiliating situation if I have to contact them and beg to be reconsidered. I contacted Fidelity and they basically told me I'm on my own and that they basically have nothing to do with the cards or approval process.

Is this normal? I just feel so ripped off that I probably suffered a hard pull for nothing. Perhaps it was stupid of me to assume that it would be easy given that I have the Visa, but since they're basically the same card offered by the same bank and they asked for my existing account number, I just thought that they would take my past history into consideration.

fartfile said:   They are separate pools, but you can transfer the points earned under the Visa into the AMEX (or vice versa). The minimum to transfer is 2500.

How is this done?

As noted above why not use Priceline 2% visa? Yeah you can't 'cash out' but as you get 2% vs 1.5% you'd have to be a pretty awesome investor to make up the diff.

Maybe I will check out the Priceline if this falls through. I'll be very pissed off at Fidelity/FIA Card Services if they deny my application for the AMEX after being a great visa customer for years.

I do like the "cash out" ability and wanted to get an AMEX for Costco and the membership benefits, as I don't have an AMEX card.

I could be wrong, but I believe I read in a thread about the Fidelity AMEX card that you don't get regular AMEX membership benefits with it. Like I said, don't quote me on that, but something to look into/consider.

Compeek said:   I could be wrong, but I believe I read in a thread about the Fidelity AMEX card that you don't get regular AMEX membership benefits with it. Like I said, don't quote me on that, but something to look into/consider.

Yes, none of my facebook linked stuff worked with Fidelity AMEX. I switched to Costco AMEX to get those deals.

That's good to know - can someone verify? I don't know about Facebook, but I wanted to use the membership benefits with travel miles (just getting into the "travel hacking" world, but I read that AMEX membership can be beneficial).

I just talked to FIA Card services - I guess being a current customer in a financially stable situation with a great credit history doesn't count for crap if you don't have any strict sources of income. Don't know when I'll be able to apply for cards again, which sucks since I'm wanting to get a 0% foreign transaction fee card.

I'm not sure how this works, I'm guessing that if I had an insane investment or savings portfolio somewhere they would waive the income thing? Is this restriction going to be in place for all cards, even if I were to apply for a crappy one just to get the 0% foreign transaction? Or could I have gotten out of this whole mess by citing my monthly support from my family as income (apparently only paychecks and the like count as such) and having them not question it? So frustrating.

tjguitar85 said:   fartfile said:   They are separate pools, but you can transfer the points earned under the Visa into the AMEX (or vice versa). The minimum to transfer is 2500.
How is this done?


Under the Rewards page, there is a link to Transfer Points (top right corner if I recall) - you'll have to provide the account number of the card you are transferring into.

FatWalletFan29 said:   That's good to know - can someone verify? I don't know about Facebook, but I wanted to use the membership benefits with travel miles (just getting into the "travel hacking" world, but I read that AMEX membership can be beneficial).

I just talked to FIA Card services - I guess being a current customer in a financially stable situation with a great credit history doesn't count for crap if you don't have any strict sources of income. Don't know when I'll be able to apply for cards again, which sucks since I'm wanting to get a 0% foreign transaction fee card.

I'm not sure how this works, I'm guessing that if I had an insane investment or savings portfolio somewhere they would waive the income thing? Is this restriction going to be in place for all cards, even if I were to apply for a crappy one just to get the 0% foreign transaction? Or could I have gotten out of this whole mess by citing my monthly support from my family as income (apparently only paychecks and the like count as such) and having them not question it? So frustrating.



Just know, the FIA AMEX is not a true no-fee FX card; they roll a 1% charge into the purchase. It's not split out as a separate item on your bill but I guess it's built into the exchange rate. There are other threads around I believe that talk about it.

I actually started out with the AMEX and later got the Visa - I asked they split my credit line with the AMEX, if that helps.

FIA sometimes goes ballistic on customers. Grilled for 2 hours to get VISA line mostly switched to AMEX; $9K of original 10 finally moved by being a millionaire with no credit problems in last 15 years and describing all assets with no liabilities account-by-six-figure-account. Later CUT my AMEX line of credit when mistakenly prepaid by $2K for other reasons. Penfed or CapOne if you do not want static.

Oh yeah, I got hit by a FX charge on the Visa for about 3% on a Paypal purchase I had no idea was even consider as such, so I didn't think that the AMEX was fee free. Was kind of rambling about getting yet another kind of card just so I can be truly fee free - probably the Capital one 1% with the 50% bonus per year, but since I don't have income at the moment, I'm going to have to wait until I can make the credit card companies happier.

snork, you were really able to switch it to AMEX? They kept telling me over and over it wasn't possible, despite me seeing posts to the contrary.

and fartfile, that is really interesting about the points! I haven't been able to get any rep to tell me about it or find any post regarding that trick! Can others verify if it works?

Would still like to find out about the restrictions on the card as not a "true" AMEX with membership benefits, etc. Down the line I may go for the no fee Blue Cash if I want an AMEX card as an alternative, if the Fidelity one is limited.

And yeah, FIA Card Services seems kind of unprofessional and flaky. I wish I could just deal with Fidelity directly.

Okay I just checked cause I was actually a bit curious at how this works.
On the rewards page of your Fidelity card you have a small table with the text Transferred in it.
If you follow that link it will lead you toward the transfers page.

So here's how the transfers page works, If you have at least 2500 Points
You can transfer from Fidelity AMEX to Fidelity Visa or vice versa,
BUT you can only transfer in increments of 2500 Points.

There's no charge, but there is catch, once transferred, those points expire in 3 months.

The 2500 increment is real drawback for me.
Since you can cash out at 5000, the only reasonable transfer point would be at 2500.
I got my Priceline card, I don't really use either Fidelity cards anymore.
I'm at roughly 3500 on Visa and 1500 on AMEX.
I can transfer 2500 to AMEX, but I lose out on 1000 points.
Seems the only way for me to cash out completely is to reach 5000 on Visa at which I can cash out anyways, so no benefit in transferring.

I have three FIA Fidelity cards:

2% Fidelity Amrex
1.5% Fidelity Signature Rewards
1% Fidelity Platinum Plus

I can transfer rewards between my Platinum Plus and my Amrex, but not to or from my Signature Rewards card.

(I only use my Fidelity Platinum Plus for months where they give me bonus categories.)

We started with the Fidelity 1.5% Visa which gets some regular use. We later applied for the Fidelity AMEX which required a chat with the credit approval review person. The Visa was granted a 5 digit limit with little problems when that was the only card applied for. When we applied for the Fidelity AMEX, she commented how little the card was being used. After some thought, she indicated they did not want more risk on us. We had them split the Visa limit which she agreed to do. We have on occassion bumped the max, but never exceeded it.
----
We never transfer rewards points between the cards UNTIL we are ready to collect. Recently we transferred 5000 AMEX points to the Visa account and then redeemed the total points. We were NOT limited to 5000 points for the real money tranfer to Fidelity - just the tranfer of points between cards. IE we collected $66.86 in real money rewarded to the Fidelity account.

-------
I have collected on AMEX small business promo rewards using FourSquare on my cell phone.

FatWalletFan29 said:   put me in a rather humiliating situation if I have to contact them and beg to be reconsidered.

Is this normal? I just feel so ripped off that I probably suffered a hard pull for nothing. Perhaps it was stupid of me ....
Not sure why you feel either humiliated or ripped off.

I felt humiliated because I'm low income and disabled, yet I have a great credit score and have been a responsible customer of theirs for years with their Visa. I stupidly thought that being a customer already would count for something.


Did anyone ever find out if the AMEX has fully membership benefits?

They sent out a new AMEX disclosure recently. There are differences.

I have Fidelity Signature Rewards VISA that is 1.5% on the first $7,500, 2.0% on the remaining charges. But this is a deformed chimera account that I somehow talked someone into converting. I get my entire cash balance auto-swept into my Fidelity brokerage account 30 days after the close of cycle.

Can't use AMEX because I am not going to carry an extra card in my wallet for the places that don't bother with AMEX.

You get 2% after the first 7.5k on the Visa? I thought it was twice that. Did something change?

and JW, could you direct me to where I could get more info about how the AMEX differs from other AMEX cards? I've never had an AMEX card before so I don't even know what the regular benefits are, but as I said I heard it can be useful for travel points/miles, and would want to retain that benefit. I don't trust FIA card services/fidelity because I've gotten more info from this thread than I've ever gotten from them. Thanks so much for all the replies!


Amex Redemption
Disclaimer

Visa Redemption
Disclaimer
Let me see if I got this straight. I have:


  • Fidelity AMEX - Earn 2 points / dollar spent. Redeem a minimum of 5,000 points at 1% rate into an eligible Fidelity account (5,000 points = $50).
  • Fidelity Signature Visa - Earn 1 points / dollar spent. Redeem a minimum of 5,000 points at 1.5% rate into an eligible Fidelity account (5,000 points = $75).


Screenshots of redemption rates attached.

What's keeping me from earning 2 pts/dollar with the AMEX card, transferring the points to the Visa account and then redeeming at the 1.5% rate? $2,500 in spending would earn 5,000 points and would net $75. 3% effective Cash Back??

websquirrel said:   Let me see if I got this straight. I have:


Fidelity AMEX - Earn 2 points / dollar spent. Redeem a minimum of 5,000 points at 1% rate into an eligible Fidelity account (5,000 points = $50).
Fidelity Signature Visa - Earn 1.5 points / dollar spent. Redeem a minimum of 5,000 points at 1.5% rate into an eligible Fidelity account (5,000 points = $75).


What's keeping me from earning 2 pts/dollar with the AMEX card, transferring the points to the Visa account and then redeeming at the 1.5% rate? $2,500 in spending would earn 5,000 points and would net $75. 3% effective Cash Back??


It won't work because the cards work in a similar fashion,

Specifically at your closing statement:

Each $1 you spent on your AMEX earns you 2pts

Each $1 you spent on your VISA earns you 1.5pts

When you reach 5,000 points you can redeem for $50.

Transferring will allow you to move points, but because the redemption value is fixed at 5000 points there's no real benefit. The rate is attached to earnings not redemption.

For your case outlined: You spend $2500 on AMEX and earn 5000pts. You then transfer to Visa. The best you can do is redeem for $50.

rlaw said:   websquirrel said:   Let me see if I got this straight. I have:


Fidelity AMEX - Earn 2 points / dollar spent. Redeem a minimum of 5,000 points at 1% rate into an eligible Fidelity account (5,000 points = $50).
Fidelity Signature Visa - Earn 1.5 points / dollar spent. Redeem a minimum of 5,000 points at 1.5% rate into an eligible Fidelity account (5,000 points = $75).


What's keeping me from earning 2 pts/dollar with the AMEX card, transferring the points to the Visa account and then redeeming at the 1.5% rate? $2,500 in spending would earn 5,000 points and would net $75. 3% effective Cash Back??


It won't work because the cards work in a similar fashion,

Specifically at your closing statement:

Each $1 you spent on your AMEX earns you 2pts

Each $1 you spent on your VISA earns you 1.5pts

When you reach 5,000 points you can redeem for $50.

Transferring will allow you to move points, but because the redemption value is fixed at 5000 points there's no real benefit. The rate is attached to earnings not redemption.

For your case outlined: You spend $2500 on AMEX and earn 5000pts. You then transfer to Visa. The best you can do is redeem for $50.
If you look at the screenshot websquirrel posted, you can see that the signature visa is earn 1 point per $1, and the redemption rate is 50% higher which gives it the 1.5% effective CB (where AMEX you earn 2 points per dollar and the redemption rate is 5000:$50). However, per bksavings' post above, "I can transfer rewards between my Platinum Plus and my AMEX, but not to or from my Signature Rewards card."

The screenshot must be wrong. I spent $18 on the visa and get 27 points.

tjguitar85 said:   The screenshot must be wrong. I spent $18 on the visa and get 27 points.My rewards shows same as screenshot, and when I go to history, shows earning 1 point per $1. 2x points for AMEX.

Weird, mine's definitely not the same as the screenshot:

Tran Date Ascending Order Post Date Type Transaction Description Amount Points
01/02/2013 01/04/2013 Earned ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ $18.00 27

tjguitar85 said:   Weird, mine's definitely not the same as the screenshot:

Tran Date Ascending Order Post Date Type Transaction Description Amount Points
01/02/2013 01/04/2013 Earned ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ $18.00 27
Is your card called "Fidelity Investments Investment Rewards Signature Visa"?

Sample of mine:
11/01/2012 11/05/2012 Earned SEOUL SAUSAGE - LOS ANGELES, CA $25.00 25

king0fSpades said:   Compeek said:   I could be wrong, but I believe I read in a thread about the Fidelity AMEX card that you don't get regular AMEX membership benefits with it. Like I said, don't quote me on that, but something to look into/consider.

Yes, none of my facebook linked stuff worked with Fidelity AMEX. I switched to Costco AMEX to get those deals.


I don't know about all the benefits but the Facebook & foursquare AMEX promotions like Small Business Saturday work just fine with the Fidelity AMEX.

jkimcpa said:   tjguitar85 said:   Weird, mine's definitely not the same as the screenshot:

Tran Date Ascending Order Post Date Type Transaction Description Amount Points
01/02/2013 01/04/2013 Earned ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ $18.00 27
Is your card called "Fidelity Investments Investment Rewards Signature Visa"?

Sample of mine:
11/01/2012 11/05/2012 Earned SEOUL SAUSAGE - LOS ANGELES, CA $25.00 25


Yup, and I just got the card in December.

You sure that's not your AMEX? 2x points implies 2% Cash Back.

jkimcpa said:   You sure that's not your AMEX? 2x points implies 2% Cash Back.

Absolutely. 27 points for $18 is 1.5%. I've only used the visa once, have had the AMEX for years.

Perhaps they changed it for new accounts after some date to prevent making the 2% card a 3% card.

tjguitar85 said:   jkimcpa said:   You sure that's not your AMEX? 2x points implies 2% Cash Back.

Absolutely. 27 points for $18 is 1.5%. I've only used the visa once, have had the AMEX for years.

Perhaps they changed it for new accounts after some date to prevent making the 2% card a 3% card.
wow. embarrassing brain fart.

Skipping 5 Messages...
rlaw said:   Okay I just checked cause I was actually a bit curious at how this works.
On the rewards page of your Fidelity card you have a small table with the text Transferred in it.
If you follow that link it will lead you toward the transfers page.

So here's how the transfers page works, If you have at least 2500 Points
You can transfer from Fidelity AMEX to Fidelity Visa or vice versa,
BUT you can only transfer in increments of 2500 Points.

There's no charge, but there is catch, once transferred, those points expire in 3 months.

The 2500 increment is real drawback for me.
Since you can cash out at 5000, the only reasonable transfer point would be at 2500.
I got my Priceline card, I don't really use either Fidelity cards anymore.
I'm at roughly 3500 on Visa and 1500 on AMEX.
I can transfer 2500 to AMEX, but I lose out on 1000 points.
Seems the only way for me to cash out completely is to reach 5000 on Visa at which I can cash out anyways, so no benefit in transferring.


Couldn't you just charge $500 on the AMEX, transfer 2500 to visa and cash out all of it?



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