The Fidelity Amex 2% cash back should be considered when evaluating reward credit card reward programs. Every month, 2% of your purchases are automatically credited to a Fidelity Investment account of your choosing (we usually recommend a brokerage account to ensure you don’t over fund a Retirement account). There are other rewards options for travel, merchandise, etc – but we prefer the monthly deposit for ease of management.
Key Features
- No Annual Fee
- 1% foreign transaction fee
- Remember Amex not accepted everywhere
- Not a travel rewards card
There are other cards that offer a higher teaser rewards rate or earnings categories, but the simplicity draws us to this one. This is a retail card and Lighthouse Financial Advisors cannot apply on your behalf. If you are interested, please use the link below. As always do not hesitate to call us if you need to clarify which Fidelity account to direct the cash back to.
http://personal.fidelity.com/misc/buffers/retirement-rewards-card.shtml.cvsr
If you put $3k worth of expenses on this card monthly, $60 is coming back to you every month. At a 5% growth rate, this grows to over $9,300 in 10 years, and over $24,500 in 20 years. That is a very tangible slush fund for you to use with no hassle of the typical credit card rewards program…all for about 10 minutes of your time to set up.
Do you have a rewards card you love, if so we would love to hear about it (send yours to luke@lfadvisors.com and we’ll publish the best shortly).