Crazytree said:I have my contributions automated with a monthly DD of $416.66 to my account and the wife's. my situation is unusual in that sense.

And you have Fidelity?

I'm trying to figure out a way to more automate my Roth IRA investing. Right now, I manually move $500 at a time from my mySmartCash account to my Roth IRA. Then I have automatic investing from the core account in the Roth to my mutual fund (it has a $500 minimum for auto investing or I'd do $416.66 as well).

Well, I don't necessary agree with the previous poster. What is interesting is that fidelity took the time to create a retirement credit card. Afterall, the existing Fidelity Investment Card with 1.5% back allowed you to contribute your contributions to a roth IRA or a traditional IRA although not an SEP-IRA like the new card. What I really think is going on is that fidelity is assuming many customers don't read the fine print and thus were not aware that the existing card could be used for retirement accounts as well. This is why they will now have 3 cards although both the new investment and retirement cards basically overlap and will offer the same features. I also think that fidelity feels that this will help them attract new clients and increase balances for existing customers who may have been moving money out of the stock market due to the huge drop in the market and instead moved it to IRA CD's offered by brick and mortar banks like Chase, Bank of America, etc. For those who have stayed and to encourage new customers to open accounts with them versus etrade, tdameritrade, schwab, etc they feel that this is a good competitive differentiater and will allow them to grow their business. I know that I'm more likely to stay with Fidelity now because of this and their attractive bond offerings which are cheaper then Bank of America Investments.

I completed my online application 2 minutes ago. But I didn't get instant approval though.

they allow to download the Quicken/msft file every statement end. FIA card does not allow to download from withing the Quicken.

Crazytree said:useless to those of us who max out our IRA contributions every year anyways.
Wrong. You can use the money you would have contributed to IRA to invest somewhere else.

WhiteGuy said:how is fid. With their credit requriments? I.e poor credit ok?

The card is with FIA, part of BOA.

It works with Roth IRA.

the T&C for this card is contradicting the Advertised Offer

..specifically ....
1) FIA Card Services Rewards™ American Express ® Card earns 1 base point per each dollar in Net Purchases.

2) and if you have at least 5,000 points available, FIA Card Services, N.A. will initiate an electronic transfer of funds to your Fidelity account at the end of each calendar month. The deposit will be made in U.S. dollars in an amount equal to the points balance multiplied by 1% ($0.01 USD)

3) Eligible Fidelity Accounts include all Fidelity non-retirement, Individual Retirement Accounts, and Fidelity-managed 529 Plan accounts that accept ACH deposits { though technically, NOT contradicting, they don't seem to make it abundantly clear, the Reward-Cash CAN be deposited into a NON-retirement account }

FIA -> BoA -> EX

I received the card in mail. No other communications.