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Better Offer: AMEX Fidelity 2% Cash Back And $50 Statement Credit

Better Offer: AMEX Fidelity 2% Cash Back And $50 Statement Credit

Million Mile SecretsBetter Offer: AMEX Fidelity 2% Cash Back And $50 Statement CreditMillion Mile Secrets Team

We devote thousands of hours of research to help you get Big Travel with Small Money. You support us by signing-up for credit cards through partner links which earn us a commission. Here’s our full Advertising Policy.

Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers.

With the Fidelity Investment Rewards American Express card you earn 2% cash back on all purchases when you deposit rewards points into your Fidelity account.  So this is a terrific cash back card for everyday spending!

And now, via Pointscentric,  you can get $50 (5,000 points) when you meet the minimum spending requirements.

Enter code “VACD37” to get this deal.  This offer expires July 29, 2015.

Emily and I don’t earn a commission on this card, but we always tell you about the best deals!

Better Offer AMEX Fidelity 2 Cash Back And 50 Statement Credit
$50 Isn’t a Huge Sign-Up Bonus, but It’s Much Better Than the Usual Bonus for the Fidelity Investment Rewards American Express Card of $0!

Plus, this is a great card for funding your AMEX Serve account.  I’ll explain!

What’s the American Express Fidelity Card?

Link:   AMEX Fidelity Card

You’ll earn 2 Fidelity points per $1 (2% cash back) on all spending with the Fidelity Investment Rewards American Express card, when you deposit your rewards points into a Fidelity account.  So if you spend $2,500 on this card, you’ll earn 5,000 points ($50).

Other perks include:

  • $50 sign-up bonus when you spend $500 on purchases within the 1st 60 days of opening your account
  • No annual fees

But keep in mind, if you use this card overseas you’ll have to pay 1% in foreign transaction fees.

Better Offer AMEX Fidelity 2 Cash Back And 50 Statement Credit
Folks Like the Fidelity Investment Rewards American Express Card Because It’s a Simple 2% Cash Back Everywhere. You Don’t Have to Worry About Categories or Spending Limits!

Why This Is a Great Card for Loading AMEX Serve

AMEX Serve changed their rules last month, and now you can only add funds online with an American Express credit card.  Discover, MasterCard, and Visa credit cards do NOT work for online loads.

And you don’t earn miles or points when you load AMEX Serve with an American Express issued card.  But you WILL earn points from 3rd-party issued AMEX cards such as the Fidelity Investment Rewards American Express Card!

Better Offer AMEX Fidelity 2 Cash Back And 50 Statement Credit
You Can Add Funds to AMEX Serve With the Fidelity Investment Rewards American Express Card

You can still load up to $200 per day (maximum of $1,000 per month or $1,500 if you have Softcard) with a card like the Fidelity Investment Rewards American Express.

So if you load the $1,000 maximum per month onto AMEX Serve, you’ll earn $20 back per month ($1,000 added to Serve x 2% back) with the Fidelity Investment Rewards American Express card.

When you use this card, you will NOT be charged cash advance fees and you’ll earn 2% cash back!

Should You Sign-Up for the Fidelity Investment Rewards AMEX Card?

This card is a fantastic option for folks who are looking for simplicity.  That’s because, you’ll earn 2% cash back everywhere.  If you prefer cash back and you’re looking for a card to add funds to your AMEX Serve account this card is a good option.

The Fidelity Investment Rewards American Express card is also good for folks looking to invest.  Because you’ll earn compound interest on your cash back which makes it worth more over time.

There are also similar cards that don’t require you to have an investment account.  For example, the Citi Double Cash earns 1% cash back on your purchases and 1% cash back on your payments.

That said, you can earn more with a card like the Discover it® Miles. You can get 1.5% back on all purchases and your miles are matched at the end of the first year.  But you can NOT use it to load Serve.

I prefer earning points for Big Travel with cards like the Chase Sapphire Preferred, because you can get more value.

For example, let’s say you spend $50,000 on the Fidelity Investment Rewards American Express card.  You’ll earn 100,000 points which is worth $1,000 back (if you deposit your rewards into a Fidelity account).

If you put the same amount of spending on the Chase Sapphire Preferred card, you’d have at least 50,000 Chase Ultimate Rewards points.  You could transfer those points to Hyatt for a 2 night stay at the Andaz Maui at Wailea Resort.

Better Offer AMEX Fidelity 2 Cash Back And 50 Statement Credit
The Andaz Maui Can Cost Over $1,000 per Night! So You’re Getting More Than Double the Value!

Bottom Line

You can now earn $50 back when you spend $500 on purchases within the 1st 60 days of opening a Fidelity Investment Rewards American Express card.

This is better than the usual sign-up bonus of…nothing!

Enter code “VACD37” to get the offer.  This deal expires July 29, 2015.

This is a good card for folks who want to load their AMEX Serve card online and like the simplicity of a card that earns 2% back everywhere.

And I prefer cards like the Chase Sapphire Preferred for Big Travel!

We don’t earn a commission on the Fidelity Investment Rewards American Express card, but we’ll always tell you about the best offers!

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Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

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I use the fidelity 2% cash back card. You should note that there is no annual fee. The Chase card has no fee for a year, then $95. So even if your’e getting an effective 2.7%, the first $3,515.52 charged is wiped out by the annual fee once it begins, basically the first $293/month over a year. Add to the fact that airline and hotel miles seem to depreciate as fast as the ruble after an internationally condemned invasion of the Ukraine and I’ll take the 2% cash back to spend as I please.

You do need a fidelity brokerage account to redeem the 2% but I believe you can transfer it out immediately otherwise a statement credit just gets you 1.5%. A better idea is to use it to buy one of the commission free ETFs they offer. I like the ITOT, Fidelity’s version of a total stock market portfolio. Leave it there for years and let it compound.

I understand you can use points to stay at a place like the Amdaz. You can also use AirBnb and other services for much less. There’s also the consideration of investing the money back from the Fidelity Card in a tax deferred account. With a reasonable return over time I’d have far more money to work with than the value of the CSP points. It all depends on how one values things.

I understand you can still earn 2% cash back without depositing into a Fidelity account, so long as you redeem 25,000 points for $250 (or more). I haven’t tried that lately though, so I cannot confirm it with certainty.

Also, with the Premium Air Rewards option you can get better than 2% toward airfare. e.g. You can get a domestic U.S. ticket worth up to $400 for just 25,000 points plus a $30 booking fee. So that’s up to 2.96%, though something like 2.7% is probably a more reasonable expectation to shoot for with the Premium Air Rewards option.

Hi

“Earn 2% cash back on all purchases when deposit rewards points into Fidelity account.” I am not familiar with Fidelity account at all. Can you please explain a little bit more about it. Fidelity account is like bank account or more like Paypal account? For account like Paypal, I will go ahead and create a account, but if it is a bank account, I might want to think about it.

Thanks