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Citi Double Cash vs. Fidelity American Express: Good Financial Habits Showdown

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Citi Double Cash vs. Fidelity American Express

 

This page is out of date

In 2016, Fidelity stopped issuing the Fidelity American Express and introduced the Fidelity® Rewards Visa Signature® Card, which offers many of the same features and even some improved ones.
» See our new comparison: Fidelity® Rewards Visa Signature® Card vs. Citi® Double Cash Card – 18 month BT offer.

 

If you want a credit card that inspires you to be financially responsible, we have two great cards for you to check out — the Citi® Double Cash Card – 18 month BT offer and Fidelity American Express. Both offer high rewards on all of your purchases and no annual fees, while also encouraging responsible financial habits. The Citi® Double Cash Card – 18 month BT offer rewards you for paying off your credit card each month; the Fidelity American Express helps you save for your future.

Which card is best depends on your situation. Here’s what you need to know about each one before you apply.

At a glance
Citi® Double Cash Card – 18 month BT offer Fidelity American Express
Annual fees $0 annual fee is $0
Balance transfer fee 3% 3%
0% APR period 0% on Balance Transfers for 18 months, and then the ongoing APR of 14.49% - 24.49% Variable APR 0% on balance transfers for 7 months, and then the ongoing APR of 13.99% (Variable)
Rewards program Cash back, redeemed as statement credit, check or gift cards Cash back, deposited into Fidelity® account
Who would want each card?
Good for:
  • Someone who wants a long 0% balance-transfer APR
  • Someone who pays off his or her balance in full monthly
  • Someone who wants cash rewards
  • Someone with a Fidelity® account
  • Someone who wants to save his or her rewards
Bad for:
  • Someone who only pays the minimum each month
  • Someone who wants to transfer a balance
  • Someone who wants cash rewards in hand
  • Someone who wants a 0% APR on purchases
  • Someone who wants to transfer a balance

Citi® Double Cash Card – 18 month BT offer vs. Fidelity American Express: The basics

The Citi® Double Cash Card – 18 month BT offer is a cash-back credit card that rewards cardholders when they make purchases and when they pay them off. The Fidelity American Express offers a flat rewards rate on all purchases, and deposits your rewards into your eligible Fidelity® account.

Citi® Double Cash Card – 18 month BT offer vs. Fidelity American Express: Rewards

The Citi® Double Cash Card – 18 month BT offer rewards spenders for responsible credit card use. It offers 1% cash back on all of your purchases when you make them, and another 1% back when you pay them off. Rewards can be redeemed starting at $25 for check, statement credit or gift cards.

The Fidelity American Express helps cardholders save for their futures. It offers 2% rewards on all purchases made and deposits your rewards into your qualifying Fidelity® account. Eligible accounts include the Fidelity® Cash Management Account, brokerage account, Fidelity-managed 529 account or retirement account. You can send your rewards all to one eligible account, or you can divide them up and send them to up to five different accounts.

Citi® Double Cash Card – 18 month BT offer vs. Fidelity American Express: Fees

The Citi® Double Cash Card – 18 month BT offer has an annual fee of $0 and foreign transaction fees of 3%. It has an introductory APR offer of 0% on Balance Transfers for 18 months, and then the ongoing APR of 14.49% - 24.49% Variable APR. If you want to transfer a balance, you’ll pay a fee of 3% of your balance or $5, whichever is greater. That said, we don’t recommend this card for balance transfers — check out one of our cards without transfer fees, instead.

The Fidelity American Express has foreign transaction fees of 3% and the annual fee is $0. The Fidelity American Express offers an introductory APR of 0% on balance transfers for seven months, and then the ongoing APR of 13.99% (Variable). However, it has a balance transfer fee of 3% or $10 (whichever is greater), so we’d recommend another card for your transfer needs.

Citi® Double Cash Card – 18 month BT offer vs. Fidelity American Express: Additional benefits

The Citi® Double Cash Card – 18 month BT offer offers a long introductory balance-transfer APR, waives the fee on your first late payment and allows you to move your due date to accommodate your pay schedule. You’ll also enjoy Citi-specific perks, like Citi Price Rewind and Citi Private Pass.

The Fidelity American Express makes savings easy with deposits into your Fidelity® account. You can set up automatic deposits or do it manually. If you don’t have a Fidelity® account but want one, you can check out the account minimum information here.

The bottom line: should I get the Citi® Double Cash Card – 18 month BT offer vs. Fidelity American Express?

If you have an eligible Fidelity® account, the Fidelity American Express is a fantastic card. It offers a flat 2% on all of your purchases and the good feeling that every time you make a purchase, your savings grow.

If you don’t have or desire a Fidelity® account, or you want an introductory APR of 0% on a balance transfer, the Citi® Double Cash Card – 18 month BT offer is the better card. Provided you pay your balance in full each month, you’ll receive 1% back on your purchases plus another 1% when you pay them off.

Erin El Issa is a staff writer covering personal finance for NerdWallet. Follow her on Twitter @Erin_Lindsay17 and on Google+.


Image via iStock.