2% Fidelity Rewards Card (was 1.5%)

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You have to fund the account with $2500, but then you can transfer it out, spend it, etc...so there is no minimum balance. According to the customer service rep at Fidelity that I talked to, you have to fund it within 90 days or they close your account.

TheKa said: You have to fund the account with $2500, but then you can transfer it out, spend it, etc...so there is no minimum balance. According to the customer service rep at Fidelity that I talked to, you have to fund it within 90 days or they close your account.

Incorrect. You can open a mySmartCash account with no minimum balance requirement and have your rewards deposited into this account. The Brokerage account is the one that requires a $2500 minimum balance but you don't need to open one of these accounts if you have a mySmartCash.

The mySmartCash account is a checking account similar to Schwab's Checking account but unlike Schwab, Fidelity does not force you to have a Brokerage account for the rewards. Quote from the Fidelity website for the AMEX card "Earn 2% on purchases to invest into your Fidelity account. Connect it to a mySmart Cash Account ® or brokerage account."

I just request a check.

Ethicist said: Can anyone confirm that in order to have a brokerage account with Fidelity you need to maintain a $2,500 minimum balance? Unlike Schwab, the minimum is not waived with the Fidelity AMEX card?Only if you're invested in a fund. Money markets or core funds have no minimums. Plus they only check once a year.

They also give you the headsup before charging. Guess they would really not piss anyone off.

Can you open the fidelity AMEX card without any brokerage account or mysmart cash account and redeem the point using FIA worldpoints?

maherzouzo said: Can you open the fidelity AMEX card without any brokerage account or mysmart cash account and redeem the point using FIA worldpoints?

i got approved without opening a fidelity account. haven't got the card yet, was told it's optional...

Failure to have an account at Fidelity affects the value of the rewards. In order to max out the rewards value, you need an account at Fidelity to deposit the rewards into.

JW said: Failure to have an account at Fidelity affects the value of the rewards. In order to max out the rewards value, you need an account at Fidelity to deposit the rewards into.

i concur. after i got the card last night and went through the docs, it's apparent u need a fidelity account to get the full CashBack amount....

If you get 25,000 points, you can redeem for a 250.00 check.

With a Fidelity account, you can redeem for the full value at 5,000 points for $50. This is the cashout table without Fidelity account:

2,500 12.50 Check
5,000 25.00 Check
7,500 37.50 Check
10,000 80.00 Check
15,000 120.00 Check
20,000 160.00 Check
25,000 250.00 Check
35,000 350.00 Check
50,000 500.00 Check

c3 said: With a Fidelity account, you can redeem for the full value at 5,000 points for $50. This is the cashout table without Fidelity account:

2,500 12.50 Check
5,000 25.00 Check
7,500 37.50 Check
10,000 80.00 Check
15,000 120.00 Check
20,000 160.00 Check
25,000 250.00 Check
35,000 350.00 Check
50,000 500.00 Check



You mean WITHOUT a Fidelity account 5000 pts = $50? Isn't it the same as Schwab?

Don't know why anyone would bother using this card for 1% CashBack. Smartcash account is best checking account I've ever had. I even get paid a day earlier than everyone else I work with! Their transfers are very quick, ATM rebates, deposit checks at Fidelity locations... All free

kiasuchick said: You mean WITHOUT a Fidelity account 5000 pts = $50?

No, *WITH*. Without Fidelity account, 5000 points = $25.

Schwab $1 spent = 1 point
Fidelity $1 spent = 2 points
c3 said: kiasuchick said: You mean WITHOUT a Fidelity account 5000 pts = $50?

No, *WITH*. Without Fidelity account, 5000 points = $25.

for those people using fidelity's payment service, please watch your mailbox for a notice that they will be cancelling this service in November. both my gf and I got a letter. was good while it lasted.

get it updated so you don't get hit with any late charges.

Yankees said: for those people using fidelity's payment service, please watch your mailbox for a notice that they will be cancelling this service in November. both my gf and I got a letter. was good while it lasted.

get it updated so you don't get hit with any late charges.


They're not cancelling the service, just using the credit card for bill payment.

c3 said: They're not cancelling the service, just using the credit card for bill payment.

sorry, you're right. i should have been more specific. i had been using it to centralize all my payments (including mortgage and other credit cards). for the people using it in that manner, definitely keep an eye out.

My Fidelity FIA 1.5% Visa was recently "compromised", the CSR explained that some retailer's database was hacked and that thousands of us were automatically issued new cards/numbers. I was not happy that they did not contact me with options, BUT as part of the process she did offer to re-issue another card with the upgraded 1.5% to $15K, then 2% thereafter version of the card. She told me tha the points I have now would carry over, and that the over $20K I had already put on the card this year meant that once I start using my new card I will receive 2% for the rest of the year. My questions:

1) Is she BS-ing me, has anyone else had their spending on the 1.5% card count toward the amount required to get 2% rebates with the new card?

2) How will the points be handled? The 1.5% card gives a point per dollar, then you get a $75 deposit to your Fidelity account when you get 5000 points. The new card muliplies the points as you accumulate them earning 1.5 points per dollar for the first $15K, then 2 points per dollar thereafter. If they move my old points into the new account, seems to me I lose the multiplier effect. Has anyone been through this experience?

The change in Bill Pay is being discussed in a thread titled MBNA Billpay, even though MBNA has merged into BOA.

In essence, no more payments that use your FIA or BOA cards as a payment source can be scheduled after Nov. 7, and Feb. 12 any scheduled to be paid from a credit card will be canceled.

You will be able to change the amount of payments that were scheduled before Nov. 7. You may wish to schedule recurring payments (say for the minimum amount) for all those you regularly pay from your FIA cards.

correction: They are not letting you change the amount of payments already scheduled without also changing the source of the payment to a bank account.

ntbguy said: My Fidelity FIA 1.5% Visa was recently "compromised", the CSR explained that some retailer's database was hacked and that thousands of us were automatically issued new cards/numbers. I was not happy that they did not contact me with options, BUT as part of the process she did offer to re-issue another card with the upgraded 1.5% to $15K, then 2% thereafter version of the card. She told me tha the points I have now would carry over, and that the over $20K I had already put on the card this year meant that once I start using my new card I will receive 2% for the rest of the year. My questions:

1) Is she BS-ing me, has anyone else had their spending on the 1.5% card count toward the amount required to get 2% rebates with the new card?

2) How will the points be handled? The 1.5% card gives a point per dollar, then you get a $75 deposit to your Fidelity account when you get 5000 points. The new card muliplies the points as you accumulate them earning 1.5 points per dollar for the first $15K, then 2 points per dollar thereafter. If they move my old points into the new account, seems to me I lose the multiplier effect. Has anyone been through this experience?
Other than the card number and the time the card changeover takes, nothing changes. the transfer of points and features should be no big deal. but keep good records like the statements back to your anniversary date.

Probably targeted. We received a letter with promo code and website to sign up. The Visa involved it a 1.5% version. with rebate payable at $50.00 (5000 points). We will not make it to $15k spending on this card this year.Congratulations! You have successfully enrolled in the 3% Cash Back offer. Now simply use your credit card for these eligible purchases and earn 3% Cash Back (up to $25) through December 31, 2010:

Gas Stations • Grocery Stores • Drug Stores • Restaurants


Payment will be a separate statement credit early in 2011 - so it sounds like it will be 3% + 1.5%

Anybody have a positive or negative experience with the Travel/Emergency Assistance service on this card? I recently had an pitiful experience with the same service on the Schwab 2% card, and I'm angry enough to consider switching.

The brief version: My overnight Paris-Munich train was canceled due to strikes. Stranded, I called the assistance hotline, and asked the rep to check for other possible connections, like bus, or airplane. But the ticketing system was down, so she couldn't/wouldn't/didn't help me, because the assistance is only provided as a service with the end goal of charging something to the credit card. Sure, I get the rationale behind the rule, but I found it ridiculous that she would not even research the schedules for me just because she wouldn't have been able to sell me the ticket.


On a related note, are there any rewards cards that include Trip Insurance as an extra?

I think fia's terms for this card for such benefits are rather poor, esp compared with other cards from hsbc and chase.

I think Chase's co onepass card has trip delay/cancellation insurance, plus rebooking assistance.

Does anyone happen to know if opening a mysmartcash account will be qualifed for AA 50K offer on fidelity website? Thanks.

https://scs.fidelity.com/other/offers/registration_aa2.shtml



islandguy84 said: TheKa said: You have to fund the account with $2500, but then you can transfer it out, spend it, etc...so there is no minimum balance. According to the customer service rep at Fidelity that I talked to, you have to fund it within 90 days or they close your account.

Incorrect. You can open a mySmartCash account with no minimum balance requirement and have your rewards deposited into this account. The Brokerage account is the one that requires a $2500 minimum balance but you don't need to open one of these accounts if you have a mySmartCash.

The mySmartCash account is a checking account similar to Schwab's Checking account but unlike Schwab, Fidelity does not force you to have a Brokerage account for the rewards. Quote from the Fidelity website for the AMEX card "Earn 2% on purchases to invest into your Fidelity account. Connect it to a mySmart Cash Account ® or brokerage account."

Rewards are not showing on the signed in webpages this weekend. CS Rep said it may be Tuesday until they do. Something about working on the software.
She also said the rewards points are valid for five (5) years.

Anyone have that link for the 3% signup promo?

comptalk said: Anyone have that link for the 3% signup promo?

I have the link. But, it will not help you because you need a unique code in order to get the 3%. Plus, it is not much, only first $1,250 purchase will get the 3%.

dj100 said: Does anyone happen to know if opening a mysmartcash account will be qualifed for AA 50K offer on fidelity website?"Open and fund a non-retirement Fidelity brokerage account today and earn up to 50,000 AAdvantage® miles"

Question - Is there a reason someone would get the Visa version (1.5% CB until 15K spent then 2%) versus the AMEX (flat 2%)? I mean besides the fact that Visa is accepted in more places?

robbierob03 said: Question - Is there a reason someone would get the Visa version (1.5% CB until 15K spent then 2%) versus the AMEX (flat 2%)? I mean besides the fact that Visa is accepted in more places?

if you can charge over 15k in your first purchase, it counts as 2%.

elleve said: robbierob03 said: Question - Is there a reason someone would get the Visa version (1.5% CB until 15K spent then 2%) versus the AMEX (flat 2%)? I mean besides the fact that Visa is accepted in more places?

if you can charge over 15k in your first purchase, it counts as 2%.


Thanks, but at least in my situation that isn't possible. I was really looking to see if the Visa branded card carried extra benefits or program advantages that make the $15k spending difference a worthwile alternative to the AMEX branded card, again outside of just being accepted in a few more places.

Does this card still offer the 25,000/$400MDV domestic redemption option. I cannot seem to find it anymore after clicking on the rewards link for travel.

Signup question. After filling out the application window and hitting submit, the window did the whole "we're processing your application" bit so I walked off for a bit. When I came back, the application window had changed to the fidelity.com homepage without giving me any sort of confirmation. Should I just assume the application went through and expect a card in the mail? Or should I call them and check?

Call as I suspect they will want the underwriter specialist to chat with you.

Ponger said:   Signup question. After filling out the application window and hitting submit, the window did the whole "we're processing your application" bit so I walked off for a bit. When I came back, the application window had changed to the fidelity.com homepage without giving me any sort of confirmation. Should I just assume the application went through and expect a card in the mail? Or should I call them and check?

Your question brought up a thought of mine which might help for an answer. After some quick research I realized that the Schwab card and the Fidelity card are both underwritten by the same place: FIA Cardservices. I have an Alaska Airlines card from BofA also serviced by FIA. When I applied for Schwab they gave me a $5k limit along with my $11k limit on my AA Card. I wanted to move the credit line around to get about $7k to $8k each so I called in. Not sure what the heck happened but they dropped the CL to $0.5k on the Schwab and $5.1k on the AA cards which caused me several NSF charges for other accounts that I was paying from the AA Card. (There was no email/phone/letter and the payments were already in transit). I called them and they just bla bla bla'd me. Lucky I cleared a 5k pmt on the AA card or they might have CLD'd me there again all over again. All this happened within 15 days of applying. During this same week, right afterwards, US Bank (Elan Financial) gave me 25.5k cc. On my worst days, mFICO has my Equifax score at 743, I maintain 780-800, 100k+ income, commercial property with mortgage <50% of tax accessed value, nothing negative on my report. This was like 6 months ago. This week, Umpqua Bank sent me a Business Visa thing, 1% Cash Back. Reading it through carefully, I realized that Umpqua Bank is underwritten by Elan Financial (same as my now 28.5k with them). So I won't apply unless I like what they will be seeing, which might even be not so good with the large CLs I have.

I'd suggest before calling them, check what other cards you have through FIA. If I would have not called, I would have 14.5k more in CL with FIA. Now I just mess with them. I called them regarding those 179 netbooks at Target and told them I was going to buy 15 of them, asked them what they wanted me to do. They didn't like the CLI, so I asked if I could make some extra payments which they said was ok. So then 3.8k of cash got held up for 10 days on that Friday because that made them mad. They allowed me to use 1k for the netbooks and the rest I just put on my 1.5% Navy card, which this week gave me 1.5k auto CLI. I won't be calling FIA for any kind of review until after my auto-payments from the AA card run out in Jan/Feb - I like the 5k free money. I would laugh though if I applied for the Fidelity card and they give me a big limit.

Good luck. Depending on your situation calling could definitely help, but it could be a trap if you have other cards with them. Hope this gives you something to think about.

I've got a Chase Freedom and a Citi Forward; I don't think either of those is underwritten by FIA

Update* I ended up calling and they confirmed that my application was accepted. They gave me a rinky dink $1000 CL though. After pointing out my other two cards have a combined CL of over $15k, they up'ed the AMEX to $3k. Still not great, but usable now.

Quick question: is this card usually eligible for American Express Network Promotions such as the current $50 Statement Credit with a purchase of $500 or more at Dell.com?

Not sure if it's the same thing but I saw this in the FAQ.

Is this Card associated with the American Express Membership Rewards® program?

No. The rewards points earned through this program are not affiliated with the American Express Membership Rewards program.

Anyone here have the original Fidelity American Express Gold Card (mine is from the 90's) and be able to ALSO receive the 2% Fidelity Investment Rewards AMEX card? Did you have to give the other up? I don't see why you would have to, since the first is issued by AMEX and the second by FIA. But, I could see Fidelity saying, "sorry, only one AMEX allowed, and this is a great time for us to decide we no longer want to pay your old Gold card fee." For those who don't know, this original Gold AMEX was a pretty good deal, in which Fidelity paid (and still continues to pay) the annual membership fee - which I think is worth about $130 now. I do still have to pay $40 to be a part of the membership rewards program.

What I want is to keep using the Fidelity AMEX Gold for my personal expenses, and to get the 2% Fidelity Investment Rewards AMEX for joint expenses with my wife. However, IF it was necessary to give up the Gold to get the 2%, would you consider switching?

I average about 16K in spending/year, and if I take the going rate for Membership Rewards points (at $.009 each at best) then I'm really only coming in at about $104 in rewards per year (after $40 fee). At a 2% rate with the other card and no fee, I'd be at $320. However, I like the fact that the other is 100% AMEX from a customer service standpoint, though I have never needed to use that yet. And, never would I consider paying the $130 myself to be part of this "club" in the future. Once I lose it, I doubt I'll be coming back. But I am also no longer convinced that AMEX Gold offers significant perks over any other Signature or World card, another of which I have with no annual fee.

Thoughts?

Thanks!
Greg

You can have both cards but why would you want them? I have made the Fidelity FIA AMEX my primary card as the 2% Cash Back beats all other rewards whether cash or miles. There are many Signature/World cards that provide better benefits than AMEX Gold. I fired American Express many years ago and other than their occasional sign up bonuses I see no benefit to their cards. If you're in love with AMEX you could apply for one of their no fee cards solely to keep an account age.



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