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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.