I receive compensation for content and many links on this blog. Citibank is an advertising partner of this site, as is American Express, Chase, Barclays and Capital One. Any opinions expressed in this post are my own, and have not been reviewed, approved, or endorsed by my advertising partners. I do not write about all credit cards that are available -- instead focusing on miles, points, and cash back (and currencies that can be converted into the same). Terms apply to the offers and benefits listed on this page.
Over the weekend I covered the economics of the 2% cash back card.
The card which would in my view be equally valuable is the Fidelity Investment Rewards American Express — the only downside being less acceptance, my dry cleaner for instance doesn’t take Amex.
Both cards have no annual fee.
The Fidelity card usually has no signup bonus but last February offered $75 after $500 in purchases within 60 days and last September offered $50 after $500 in purchases within 60 days.
The $50 signup bonus is back, reportedly through July 29. Once again the requirement to earn the bonus is $500 spend within 60 days.
I still value the points earned on unbonused spend from the Starwood Preferred Guest American Express Card at over 2 cents, so continue to use that as my go-to rather than a 2% cash back card.
And I prefer the Chase Sapphire Preferred Card as the best rewards card overall.
(HT: PointsCentric)
And for those spend a lot on a cash back card, the BarclayCard’s extra 0.2% back pays the $89 annual fee at about $3700/month . Plus you get free Tripit pro and elite world MasterCard stuff (shrug). Also, the $400 bonus is about 5 years of annual fees (including the first year free) more than you get from Fidelity.
Does this Amex qualify for those Amex offers that other Amex cards have?
@Karen, the Fidelity Amex card qualifies for Amex promos like Small Business Saturday and I believe Amex sync offers, but you can’t use the Amex offers tab to get offers that are offered to traditional Amex cards.