Fidelity Amex Investment Rewards credit card?

[iliketosavemoney]

Any thoughts on this credit card?

https://www.fidelity.com/cash-management/american-express-cards

No annual fee, flat 2% back that goes into my Fidelity account.
I like the idea of it automatically depositing $50 into my Fidelity account every $2500 I spend.

I've been using Chase Freedom but the 5% rotating rewards categories might average out to the same as this since there are some months where I don't get 5% at all.

[bjl584]

If you want your rewards to be deposited into an investment account as a way to auto-save, then this looks like a good card.

Some people prefer their rewards as cash or as points for vacations. So, this wouldn't be a good card for them.

[MonkeyMama]

Yes, I have the card. It is great! I use it to fund my ROTH.

Funny enough, I used it to replace my Chase Freedom card several years ago. When the Freedom significantly dropped their rewards.

[feh]

Any thoughts on this credit card?

https://www.fidelity.com/cash-management/american-express-cards

No annual fee, flat 2% back that goes into my Fidelity account.
I like the idea of it automatically depositing $50 into my Fidelity account every $2500 I spend.

I've been using Chase Freedom but the 5% rotating rewards categories might average out to the same as this since there are some months where I don't get 5% at all.

It's a very good card. My only gripe about it is that it's amex and not visa.

We have a 2% back visa card, otherwise I'd be using the Fido card.

[iliketosavemoney]

Thanks for the replies!

Chase Freedom used to be so awesome with 5% cash back on groceries, gas and restaurants and they even used to give an extra $50 if you cashed out $200 worth of points.

I don't have an Amex card so at least I can use this at Costco now. I also heard you get extended warranty if you purchase anything with an Amex card but I'm not sure if it's any Amex card or one directly from Amex.

[JulieAlbright]

It's our number one rewards card. Funny I should see this thread after I just clicked here from my Fidelity account, and noticed this month's awards deposit is pending.

For the most part I like receiving cash over travel awards or gift cards etc. Like you said, you can often get 5% from other cards in certain categories but it takes an amount of monitoring to keep all that straight which card is the "best one" to use this month at the gas station or whatever.

[MonkeyMama]

I don't have an Amex card so at least I can use this at Costco now. I also heard you get extended warranty if you purchase anything with an Amex card but I'm not sure if it's any Amex card or one directly from Amex.

The Fidelity card is not a true AmEx. You don't get a lot of the AmEx perks. I was surprised when I was able to use this card to redeem a AmEx reward last year though. (It's hit and miss what American Express benefits you can get).

[JulieAlbright]

I used the Fidelity Amex for an extended warranty claim for a busted tablet last year. But it was a long and convoluted process with much more paperwork than I had to use for our old regular American Express card.