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Amex Card Pays 2% Cash On All Purchases

The Fidelity Investment Rewards American Express Card has become one of our favorite – and maybe our most favorite – cash reward credit card.

It allows you to earn 2% cash rebates on every purchase.

Fidelity Investment Rewards American Express Card Offers 2% Cash Rebates On Every Purchase

That’s twice as much as the regular rebate available on most reward cards.

There are no 3% or 5% “bonus” rebates on certain types of purchases, such as gas or groceries. But that also means you don’t have to worry about keeping track of which “rotating” charges are paying a bonus rebate each month.

You earn 2 points for every $1 that you charge, and once you have accumulated 5,000 points, you can move $50 into the Fidelity account assigned to your card.

The regular Investment Rewards card puts your rebate into a brokerage account, including mySmart Cash, which is a smart alternative to bank checking accounts.

The Retirement Rewards card puts your money into any eligible Fidelity IRA, while the 529 College Rewards card contributes to your kids’ education plans.

There’s no limit to how many points you can earn, and this is one of the few American Express cards around that charges no annual fee.

So it’s simple, lucrative and helps you save for the future.

What’s not to like?

Well, it’s an American Express card, so it’s not as widely accepted as a Visa or MasterCard.

And you must have a Fidelity account for this card to make sense.

Although you can redeem points for airline tickets, gift certificates and tech toys, you get the best return by turning them into deposits at Fidelity.

Click here to compare Fidelity’s deal with the best rates and terms from scores of other credit cards in our database.

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Comments (5)
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5 Existing Comments
  1. wyle.coyote said:
    on January 11th at 10:21 am

    I got one of these 10 months ago. With same spending patterns, I have banked as much cash back as I did with 3.5 years of using Discover. Combine this with a common 1% reward Visa or MC for those few places that don’t take AmEx and enjoy. For best results, use credit cards as if you’re spending your hard earned cash (because you are) and pay the full balance every month.
    Oh wait. Credit companies would go broke and I wouldn’t get my 2%. Never mind.

  2. sangiovese said:
    on January 11th at 03:50 pm

    i still like the costco open business executive member american express card. that big rebate every march is fantastic. besides, who needs a zillion cards. pick one amex and one visa and be done with it.

  3. Dan said:
    on January 11th at 10:41 pm

    Hmmm… can I use this to put money into an employer-provided 401(k)? Or only an IRA? I have my personal investment accounts at Vanguard and only do my 401(k) through Fidelity. Trying to decide if this makes sense, given the hassle of keeping track of one more account…

  4. Joe said:
    on January 13th at 04:15 am

    I thought they did away with this card? I heard it about 6 months ago.

  5. Craig C said:
    on January 13th at 11:11 am

    Joe, you may be thinking of Schwab Bank Invest First card which also paid 2% on all purchases. And that card was no longer offered effective October 2010. With the trend to decrease bonus cash back, I wonder if this one will also follow suit.