The thing I don't like for the Roth IRA is that it won't let you manually contribute amounts with fractional dollars. So if you had 1045 points, you'd get $10.45 deposited into your Roth IRA. But then you can't deposit $0.55 ever.
Also, now that I have a reward checking, I'm gonna do automatic investments from there. If I do $500 for the first 10 months of the year, then I'll overcontribute because of the reward sweeps.
nycll said: Yes, a regular (non-IRA) brokerage account works.
Can you confirm? The only reason I ask is that my brokerage and MSC accounts both start with X while my Rollover IRA and Roth IRA both start with numbers.
Can you confirm? The only reason I ask is that my brokerage and MSC accounts both start with X while my Rollover IRA and Roth IRA both start with numbers.I have 2 deposits done already into my regular account starting with Z. My third one is below 5000 points right now. In the T&A someone posted earlier it says regular brokerage is fine. I suspect smartcas-only account is not considered brokerage.
Just applied for the Fidelity Investment Rewards AMEX and was denied in a letter from FIA Card Services. The reason was "do not have a sufficient number of credit references and you do not have sufficient number of established revolving credit accounts". I've had various Citi Mastercards for 12 years now, the most recent from 2006, and have paid them off faithfully every month. However, have only ever had 1 card at a time. Never paid late, and credit score is around 765.
I spoke to FIA by calling 866-598-4971, was very polite to them, and they still couldn't approve it and abruptly just about hung up on me. Their only suggestion was to open another account with another credit card company and wait 6 months.
Any better suggestions? Would really like to get this particular card.
uly said: Their only suggestion was to open another account with another credit card company and wait 6 months.
Ha! Isn't it odd that someone who has overextended their credit is perceived as safer than one who appears to have a long history of responsibility, asking for only what they need?
palswim said: CoffeeEater said: Grim said: The Investment Rewards version specifically states that the mySmart Cash Account is eligible.
"Earn 2% on purchases to invest into your Fidelity account. Connect it to a mySmart Cash Account ® or brokerage account."
I have the retirement rewards card.
So do I, but I linked it to my brokerage account. ^_^
Just tried that and I got the same "Redemption Issue - Fidelity accoun - ?0.00" error. Same error for MSC and now my brokerage. Looks like I have no choice but to sweep to Roth IRA.
c3 said: c3 said: Has anyone actually called FIA about the redemption issue? The restriction, if real, doesn't make any sense.
I guess not. Posting problems in this thread would not get anything resolved. I would call myself, but I don't have any issue to call at this time.
I'm not calling because the Retirement Rewards says that it's only good for retirement accounts. Since it auto-deposited into my Roth, they're meeting their obligations. I'm just unsure how others are getting deposits done to non-retirement accounts when I cannot.
CoffeeEater said: I'm not calling because the Retirement Rewards says that it's only good for retirement accounts. Since it auto-deposited into my Roth, they're meeting their obligations. I'm just unsure how others are getting deposits done to non-retirement accounts when I cannot.
This is what the application says: "Eligible Fidelity Accounts include all Fidelity nonretirement, Individual Retirement Accounts, and Fidelity-managed 529 Plan accounts that accept ACH deposits."
I just add my other credit cards as payee in the bill pay center. Does this mean that I can use Fidelity cc to pay my other credit cards? Can anyone confirm this? thanks.
Boilers said: I just add my other credit cards as payee in the bill pay center. Does this mean that I can use Fidelity cc to pay my other credit cards? Can anyone confirm this? thanks. That is correct. Here is more information.
vkva said: Boilers said: I just add my other credit cards as payee in the bill pay center. Does this mean that I can use Fidelity cc to pay my other credit cards? Can anyone confirm this? thanks. That is correct. Here is more information.
Damn! I've been a customer since '05 and didn't realize I could do this. Good grief
Boilers said: I just add my other credit cards as payee in the bill pay center. Does this mean that I can use Fidelity cc to pay my other credit cards? Can anyone confirm this? thanks.
Can I add my landlord (she accepts only checks) as a payee so that I can pay rent from the credit card? Thanks!
kgkg said: Boilers said: I just add my other credit cards as payee in the bill pay center. Does this mean that I can use Fidelity cc to pay my other credit cards? Can anyone confirm this? thanks.
Can I add my landlord (she accepts only checks) as a payee so that I can pay rent from the credit card? Thanks!No, there is a set list of payees that you must select from; you cannot add or define your own.
Agent9 said: vkva said: Boilers said: I just add my other credit cards as payee in the bill pay center. Does this mean that I can use Fidelity cc to pay my other credit cards? Can anyone confirm this? thanks. That is correct. Here is more information.
Damn! I've been a customer since '05 and didn't realize I could do this. Good grief i don't understand. i have a fidelity AMEX card. i have a fidelity brokerage account which is receives cb from the cc and gets debited by billpay.
i know that i can pay off my cc from my brokerage account using billpay just like i pay my phone bill.
are you saying that i can get billpay to debit my cc so i can pay my phone bill from my cc and get 2 pct cb? i don't see any information about my cc on the fido web site. the cc has its own web site fiacardservices.com
kmith said: are you saying that i can get billpay to debit my cc so i can pay my phone bill from my cc and get 2 pct cb? i don't see any information about my cc on the fido web site. the cc has its own web site fiacardservices.com
I don't think you get Cash Back from doing billpay. The only thing you gain is the float.
CoffeeEater said: kmith said: are you saying that i can get billpay to debit my cc so i can pay my phone bill from my cc and get 2 pct cb? i don't see any information about my cc on the fido web site. the cc has its own web site fiacardservices.com I don't think you get Cash Back from doing billpay. The only thing you gain is the float.
Q: What is an Out-of-Network Credit Card Payment Transaction?
A: An Out-of-Network Credit Card Payment Transaction is a bill payment made with your credit card Funding Account to a Payee (merchant) which does not accept credit cards through Bill Pay Choice. This transaction is a Purchase which enjoys a grace period (if any) under the terms of your Credit Card Agreement. There is no transaction fee for out-of-network payments. These bill payments do not earn rewards or points. Out-of-Network Payments have limited dispute rights, such as whether the payment was properly made. You cannot dispute the goods or services already purchased.
my understanding is that in-network transactions are companies that actually let you use credit card to pay for services. which makes it kinda pointless to set up billpay...out-of-network are those that do not let you use credit cards, only accepting debit or checks. these are the ones that you can set up billpay for, but they earn no rewards. only things you get are: float, centralized payment, and fewer withdrawals from your checking/savings (especially handy if your accounts are money-market based and are limited to 6 withdrawals a month).
Yankees said: CoffeeEater said: kmith said: are you saying that i can get billpay to debit my cc so i can pay my phone bill from my cc and get 2 pct cb? i don't see any information about my cc on the fido web site. the cc has its own web site fiacardservices.com I don't think you get Cash Back from doing billpay. The only thing you gain is the float.
Q: What is an Out-of-Network Credit Card Payment Transaction?
A: An Out-of-Network Credit Card Payment Transaction is a bill payment made with your credit card Funding Account to a Payee (merchant) which does not accept credit cards through Bill Pay Choice. This transaction is a Purchase which enjoys a grace period (if any) under the terms of your Credit Card Agreement. There is no transaction fee for out-of-network payments. These bill payments do not earn rewards or points. Out-of-Network Payments have limited dispute rights, such as whether the payment was properly made. You cannot dispute the goods or services already purchased.
my understanding is that in-network transactions are companies that actually let you use credit card to pay for services. which makes it kinda pointless to set up billpay...out-of-network are those that do not let you use credit cards, only accepting debit or checks. these are the ones that you can set up billpay for, but they earn no rewards. only things you get are: float, centralized payment, and fewer withdrawals from your checking/savings (especially handy if your accounts are money-market based and are limited to 6 withdrawals a month).
That's the MBNA/FIA Billpay FAQ which applies to the paying bills using the Fidelity Visa/AMEX Credit Card (which is issued by MBNA/FIA). I think kmith was asking about the Fidelity Billpay service (not MBNA/FIA Billpay) which is a service offered bi Fidelity itself to pay bills using your brokerage account.
if this is a stupid question, I apologize, but I really cannot figure out what prevents us from using 2 credit cards (i.e. Fido Retirement and Fido Investment) to billpay each other until it approaches the credit limit to get a 0% float.
obviously, the cc company can drop the credit line and it can potentially change your debt/credit ratio...but until that happens, is there anything that prevents us from doing this?
Yankees said: if this is a stupid question, I apologize, but I really cannot figure out what prevents us from using 2 credit cards (i.e. Fido Retirement and Fido Investment) to billpay each other until it approaches the credit limit to get a 0% float.
obviously, the cc company can drop the credit line and it can potentially change your debt/credit ratio...but until that happens, is there anything that prevents us from doing this?
NOT a good idea between the same issuer. However I've toyed with the idea of billpaying a balance between 2 DIFFERENT card issuers, eg fido card pays off chase card, which pays off fido card, back and forth endlessly transferring a balance with auto payments.
thanks! has anybody actually done this? given the financial entrepreneurship of the FWF population, I'd imagine that if there's a shot of it working, somebody would have done it.
if not, I'll probably try with Chase and Fido after some more research
diljs said: Yankees said: if this is a stupid question, I apologize, but I really cannot figure out what prevents us from using 2 credit cards (i.e. Fido Retirement and Fido Investment) to billpay each other until it approaches the credit limit to get a 0% float.
obviously, the cc company can drop the credit line and it can potentially change your debt/credit ratio...but until that happens, is there anything that prevents us from doing this?
NOT a good idea between the same issuer. However I've toyed with the idea of billpaying a balance between 2 DIFFERENT card issuers, eg fido card pays off chase card, which pays off fido card, back and forth endlessly transferring a balance with auto payments. How are you able to pay fido from chase card unless you do pay for the 3% Bt fee.
UnixLab said: diljs said: Yankees said: if this is a stupid question, I apologize, but I really cannot figure out what prevents us from using 2 credit cards (i.e. Fido Retirement and Fido Investment) to billpay each other until it approaches the credit limit to get a 0% float.
obviously, the cc company can drop the credit line and it can potentially change your debt/credit ratio...but until that happens, is there anything that prevents us from doing this?
NOT a good idea between the same issuer. However I've toyed with the idea of billpaying a balance between 2 DIFFERENT card issuers, eg fido card pays off chase card, which pays off fido card, back and forth endlessly transferring a balance with auto payments. How are you able to pay fido from chase card unless you do pay for the 3% Bt fee.
I've not actually done this with chase, chase was just the first example of another issuer that popped into my mind. I was talking of bill pay though, BT never came into the equation. Again, I've never even used chase billpay, maybe it doesn't even exist.
1) FIA's billpay only gives you your (externally linked) bank accounts as funding options to pay for their credit cards. So, you cannot choose to pay for FIA Investment Rewards with FIA Retirement Rewards, etc. 2) Chase's billpay also only gives you your Chase bank account as a funding option
I started looking at my other cards. VISA's billpay program have a listing for FIA and neither does AMEX's billpay. so, the trick is to find another place that allows you to billpay a credit card funded from a credit card. I'll report back if I find anything
I've been noticing this with both my Fidelity 2% AMEX and 1.5%/2% Visa since I opened them. I am under 5000 points on each right now. On the last day of the month, the FIA web site shows a "Fidelity Sweep", then about 3 or 4 days later I have a "Redemption Issue". Nothing ever shows up in MySmartCash account (which is what I have these tied to).
Only reason I am posting is, this last month (March 30th sweep for April), on my Visa card, they didn't re-credit from the failed sweep automatically. I had to call FIA, and they said they didn't understand why it was even doing a sweep since I was under 5000 points, and had to credit my points back manually, with took almost a week. Now as of April 30th, I am back down to 0 points available on both my accounts because of another sweep. From the Worldpoint web site, there doesn't seem to be a way to disable the automatic sweep function without deleting my SmartCash account.
Has anyone else noticed this problem? I wouldn't care so much, other then I now have to keep track of my points each month, and then call them when the computer screws up and doesn't reverse the sweep correctly.
AverageGuy09 said: Has anyone else noticed this problem?
My AMEX account auto swept 4/1, credited back 4/4, and auto swept 5/1 (under 5000 points). Other people reported similar "Redemption Issue" even with >5000 points.
c3 said: AverageGuy09 said: Has anyone else noticed this problem?
My AMEX account auto swept 4/1, credited back 4/4, and auto swept 5/1 (under 5000 points). Other people reported similar "Redemption Issue" even with >5000 points.
I've had the redemption issue the past two months. First month, it auto-swept $4.00 into my Roth IRA. Then I changed the acct number to my mysmartcash - redemption issue. Last month, I changed it to my brokerage - redemption issue. This month, I changed it back to the Roth IRA and 3k pts just did an auto-sweep into my Roth IRA. I'll probably find out today if I get a redemption issue or not.
Maywind said: If you have Bank of America credit cards, BofA BillPay allows you to pay non-BofA credit card bills with BofA credit cards.
Thanks Maywind. I got a contradictory response from 2 different BofA reps (online credit card rep and phone call to Bill Pay rep). Both said that BofA Credit cards cannot be used to pay off other credit cards yet. The only way to accomplish something similar is to use Balance Transfer. But the billpay rep said that something is in the works to allow it to be used to pay bills (including other credit cards).
Yankees said: Maywind said: If you have Bank of America credit cards, BofA BillPay allows you to pay non-BofA credit card bills with BofA credit cards.
Thanks Maywind. I got a contradictory response from 2 different BofA reps (online credit card rep and phone call to Bill Pay rep). Both said that BofA Credit cards cannot be used to pay off other credit cards yet. The only way to accomplish something similar is to use Balance Transfer. But the billpay rep said that something is in the works to allow it to be used to pay bills (including other credit cards). BofA owns FIA.
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