Fidelity Credit Card 2% Cash Back Review
I’m going to talk about the Fidelity card. I personally love cashback cards, but there’s a catch. So we have another video that shows and explains that the Fidelity cashback card is actually a point system, yet you can redeem those points for cash, and you get the cash as long as you put it into one of their accounts such as a cash management account or a brokerage account. The bottom line is you’re going to get two percent back in cash, and that’s brilliant.
Now, let me tell you the difference between some of these cards and some of the cards I like and something I don’t like. First of all, it has no annual fee, which is great. Many cards have that, but the kicker is two things. One, there’s no cap. In other words, you get two percent whether you spend a thousand a month, two thousand a month, ten thousand a month, or a hundred thousand a month. It doesn’t matter, and that’s great. No cap on what you can earn back. Secondly, because there are cards that cap it, stay away from those. You’d have to then watch how much you’ve spent this month and if you spend too much this year. If you have to manage it in that manner, it’s not going to be that useful. If you’re as busy as most people, you don’t have the time for that.
So, no cap, most importantly the fidelity credit card has no categories. In other words, you get two percent back no matter what you happen to purchase. A lot of these cards throw out things like, “Well, we have rotating categories this month. You get two percent back on some type of retail store, and next month it’s cash, and the following month it’s groceries.” Or they’ll just say, “Well, it’s three percent on gas and two percent on restaurants and two percent on flights, but one percent on everything else.” Forget that. This is a very simple-to-use card. That’s why I love to keep it in rotation because it’s a flat two percent back, no matter what category, in other words, no matter what you purchase and no matter how much you’ve spent that year with the card or that month.
So, take a look at the Fidelity card. I also love it because it’s going into a brokerage account or a cash money management account. Therefore, you might also be earning interest or potentially using it to purchase stocks. So, you’re then amplifying the money you got back. Assuming you don’t need that cashback to spend on a monthly basis, it’s a good way of getting you to start saving and hopefully amplifying your savings.
So, take a look at the Fidelity card in our previous video, which explains the points and how you redeem them. Thanks for watching. I hope you subscribe, and please comment below if you’ve got any questions about this particular card or others. Thanks for watching.
Also take a look at the alliant credit card that can give you up to 2.5% back.
