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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: SpendyMcSpend on April 29, 2015, 03:26:39 PM

Title: Has anyone used this credit card?
Post by: SpendyMcSpend on April 29, 2015, 03:26:39 PM
I just got an advertisement of the Fidelity Investment Rewards American Express card which deposits money into a Fidelity as you purchase items.  Is this a good deal?  I would prefer my cash back rewards go back into savings and I'm not at all a credit card churner.  After paying down some student loans my credit score is in the low 700s.
Title: Re: Has anyone used this credit card?
Post by: Catbert on April 29, 2015, 09:01:52 PM
I think it's a good plain vanilla 2% cash back.  No yearly fee.  No "catches" that I know of.  Unless you want to churn cards or have multiple cards for different purposes this is a good card.  But remember that American Express isn't accepted every where.  You would need at least one more general card.
Title: Re: Has anyone used this credit card?
Post by: Dodge on April 30, 2015, 12:11:41 AM
I just got an advertisement of the Fidelity Investment Rewards American Express card which deposits money into a Fidelity as you purchase items.  Is this a good deal?  I would prefer my cash back rewards go back into savings and I'm not at all a credit card churner.  After paying down some student loans my credit score is in the low 700s.

It's a fantastic deal.  It doesn't need to go into an investment account, you can put the money in a Fidelity Cash Management (https://www.fidelity.com/cash-management/fidelity-cash-management-account/overview) account, and transfer it over to your personal bank/savings after 1 business day.
Title: Re: Has anyone used this credit card?
Post by: Mother Fussbudget on April 30, 2015, 04:17:50 PM
There is only one 'catch' that I know of - you can only make a limited number of payments per month.  I think it's ~6 payments/month.
I was trying to use it regularly, and pay it DAILY (after including it in my Mint account), and hit this limit regularly.  I haven't used it often since December.
Title: Re: Has anyone used this credit card?
Post by: kendallf on April 30, 2015, 08:12:39 PM
I have it, and it's my 'regular use' card when I'm not meeting the spend requirement for a bonus on a new card.  As mentioned above, there are a fair number of places which don't take Amex so I always have at least one other in my wallet.
Title: Re: Has anyone used this credit card?
Post by: Captain_Burrito_Pants on April 30, 2015, 11:10:57 PM
I've had one for a while, it's good though many places wont' take AMEX.  I try only to use it at large stores and use other cards for local stores/restaurants because AMEX has high fees for merchants.  Though recently I've been using the Barclay Arrival MasterCard for everyday purchases and just used the Amex when I'm at Costco.
Title: Re: Has anyone used this credit card?
Post by: aj_yooper on May 01, 2015, 01:52:40 AM
I like the card, recommend it, and love the rebates and no cost feature; just pay it off every month and your good.  Most places take AE.  Like others, I have not been using it as much lately as I have the airline bonus points to earn (AA and US Airways). 
Title: Re: Has anyone used this credit card?
Post by: kpd905 on May 01, 2015, 06:26:21 AM
There is only one 'catch' that I know of - you can only make a limited number of payments per month.  I think it's ~6 payments/month.
I was trying to use it regularly, and pay it DAILY (after including it in my Mint account), and hit this limit regularly.  I haven't used it often since December.

That just seems inconvenient to pay daily.
Title: Re: Has anyone used this credit card?
Post by: Catbert on May 18, 2015, 03:16:36 PM
Personally I wouldn't worry about a mortgage application 22 months from now.  I'm cautious enough that I would stop churning credit cards a full year ahead of time although I've heard many say that 6 months is enough.