Fidelity Retirement Rewards American Express Card: Shop & Save for Retirement

As I mentioned many times, one of my favorite cashback credit cards is Fidelity 529 College Rewards Card. I like the card because I get flat 2% cashback on every dollar I spent. No category. No nothing. The best part isn’t just the cashback. It’s that the rewards are automatically invested in a Fidelity 529 College Savings account. It’s better than taking the cash and spending it :)

Now Fidelity has another card offer with the same rewards level, not the shrunk version of 1.5% now with Fidelity 529 College Rewards Card from American Express. With the new Fidelity Retirement Rewards American Express Card, you can

  • Earn 2 points for each $1 you spend on purchases;
  • Reach 5,000 points after you make $2,500 in purchases and $50 can be automatically swept into your Fidelity IRA as a current year contribution or other Fidelity account;
  • Enjoy more flexibility with additional WorldPoints rewards options, including travel, merchandise, travel, and other rewards.

And the card doesn’t have an annual fee. Like the 529 College Card, the Retirement Card is also managed by FIA Card Service (hope the rewards won’t be cut later like FIA did with the 529 card). The cashback earned with the Retirement can be automatically invested in a Fidelity IRA retirement account. However, if you choose to take cash, there will be a 1% fee when redeeming the rewards.

Check out these credit card bonus promotions:

Sounds good?

Check it out to see if you like the card.

BTW, the way I see credit cards rewards is like this: I am not using the card just to get the rewards. It’s the other way around: I get rewards because I use the card to buy stuff I have to buy :)

This article was originally written or modified on . If you enjoyed reading this post, please consider subscribing to my full RSS feed. Or you can also choose to have free daily updates delivered right to your inbox.


Author Info

This post was written by Sun You can find out more about Sun and his activities on Facebook , or follow him on Twitter .

4 Responses to “Fidelity Retirement Rewards American Express Card: Shop & Save for Retirement”

  1. Kathy |  Dec 09, 2008 at 7:18 pm

    A better investment option is the Monetta Young Investor Fund…
    better performance..financial literacy..free college tuition credits that can pay up to one-year of a four year college tuition fee.

    The key is “saving” on a regular basis not spending to earn mimimal rewards.

  2. Sun |  Dec 09, 2008 at 8:17 pm

    Kathy: What you said is very true. For the card, it’s not about spending in order to earn rewards, but earning rewards that can be used to save for retirement while spending the money you have to spend.