The Fidelity Investment Rewards American Express is a 2% cash back card where you deposit funds into a Fidelity investment account. It has no annual fee. And normally it has no signup bonus.
Now you can get it with a $75 bonus for making $500 purchases within 60 days.
For avoidance of doubt and disclosure, this card does not offer any referral credit to me of any sort, and I do not have this card myself.
I’ve long written that it’s the best cash rebate card, most offer 1% or 1.5% or bonus only specific spend categories but this is 2% on all purchases. No signup bonus means it’s no all that leveraged for quick rewards. But it makes the opportunity cost of spending on a mileage-earning card where you earn just 1 mile per dollar two cents — in other words, the existence of this card means that every charge that earns one mile per dollar means you are buying that mile for two cents.
(HT: The Flying Scholar)