A New Signup Bonus for the Fidelity Investment Rewards 2% Rebate Amex

I’m liking the new Citi Double Cash product as the best cash rebate card but the Fidelity Investment Rewards American Express currently has a $50 signup bonus.

I favor points over cash back. But I also recognized that if I’m doing any un-bonused spend, I’m effectively buying points at 2 cents apiece, since I could otherwise be earning two cents per dollar spent. I don’t want to do that with most points currencies. So as I’ve long said, a cash rebate like this may be the best option for spending that isn’t going to earn a bonus on a points and miles credit card.

Now, Bank of America can get you a 2.625% rebate but only if you put $100,000 on deposit with BofA.

For most, though, that’s going to be a bit out of reach so the Citibank card is my favorite because of the rebates plus not being an American Express, although Fidelity has long been the benchmark with 2% back into a Fidelity investment account but issued as an Amex. A signup bonus makes it a bit more attractive than usual.


About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Comments

  1. Does BofA have a portal you need to book through or will they reimburse any “travel-related” purchase? 2.625% is a killer rebate…

  2. If you have a 5% cash back card and you can buy Visa Gift cards netting you 4% back, then arent you buying points at 4 cents per?

  3. I BET THE AMOUNT OF REFERRALS YOU’VE GOTTEN IN THE LAST MONTH HAS DECLINED SUBSTANTIALLY BECAUSE KEN CALLED YOU OUT.

    YOU PUT UP BS POSTS TO YOUR READERS SO YOU CAN GET 2-3 CENTS PER HIT. PATHETIC!!!!

  4. Whoever you are Marc you should be deleted
    You are highly offensive
    I only hope in your lifetime you can get the proper professional help you so desperately need to be happy and adjusted in life.
    On the other hand thank you Gary on behalf of all your readers worldwide for all you do and putting up with being a public figure and dealing with such unacceptable comments and horrible behavior as rare as it may be.

  5. Please ban this idiot. But, I can’t stop laughing at what a stupid person he must be to call someone a “petaphile.” Must be someone who sexually abuses pets. Shame, shame. ; )

    This Marc guy must have been let out of the loony bin prematurely. Or the special education little bus. Or both. Geez.

  6. Just for completeness, I feel compelled to add that the Fidelity AmEx and Visa cards earn WorldPoints, which have a some additional redemption options besides cash, although I doubt the other options are worth the effort.

    If I recall correctly, you can freely transfer points from Fidelity AmEx to Fidelity Visa, which has a slightly exploitable air ticket booking service, discussed at http://milenomics.com/2014/04/the-best-travel-cash-back-card/ .

    I think you can also transfer WorldPoints to the Sandals Resorts loyalty program. I have no idea if that is ever worthwhile.

    I apologize for the uncertainty in this post. I actually have both Fidelity AmEx and Visa, but it appears that the rewards program web site for these cards is down at this moment.

  7. To follow-up on Adam’s comment: The Fidelity Amex is not issued by American Express. It is issued by BoA dba “FIA Card Services”. This means that it doesn’t have some of the advantages of a true Amex card: no access to the sometimes useful Amex offers and a scant list of benefits, including auto rental insurance waiver and warranty protection. I’ve been unable to figure out if these benefits are as good as those provided by true Amex cards. Adam is correct: the card earns Worldpoints that can be redeemed for cash or used for travel. Also, Worldpoints has it’s own shopping portal that offers additional points at some online stores. Whether any of this is of true value remains to be seen.

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