Fidelity American Express

Fidelity American Express
3.5 0.0 0.0 0.0 0.0 11

#1

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#2

Great cash-back card

The Fidelity American Express card is by far the best cash-back credit card on the market today. I earn 2% cash back on everything that I purchase and my card purchases are automatically deducted from my checking account at the end of the month. Once my rewards ballence reaches $50, it is automatically deposited into my fidelity account. What a great system.


#3

Highest routine cash balance available.

This card has the highest routine cash rebate available, which is why I use it as much as possible. All of my routine automatic payments are set up with this card. I use it at grocery stores, restaurants, and gas stations. The result is several hundred dollars per year on routine purchases. Enough to keep me happy.

There are two drawback to it. Since it is an AM EX, it is not accepted as widely as Visa or MasterCard. When paying the monthly balance, it is not possible to automatically pay the full statement balance. You can autopay, but only a specified amount. This means I have to log in every month to pay the full statement balance.


#4

Works as advertised, but they seem to be intentionally messing with me in an attempt to maximize fees

The Fidelity Amex is second in my wallet.


Things I like:
I love that it has no annual fee, so I can just keep it open forever to have a longer credit history. The rewards rate is still top of class at a no frills 2%. Historically, I’ve been able to easily auto deposit this 2% into any Fidelity account, whether IRA, 529, Roth IRA, or checking.

Things I don’t like:
My biggest gripe is how annoying they are about pulling fast ones to try and trip you up. They have regularly changed the content displayed on the credit card login page over the years. It looks the same, but the content changes. I feel like I’m being A/B tested by some analyst working there who is trying to mess with me. Sometimes they only display the minimum payment and total balance, and force you to download a PDF to figure out what you actually owe from last month. Sometimes they display all 3 numbers, but bury last month’s total in small text. One time even the PDF buried what I owed. I just logged back in and it looks like they’ve been accruing points to me this year instead of automatically depositing 2% into my Fidelity checking account, like they used to. This kind of stuff makes my skin crawl.

Smaller gripes - I live in SF, so it’s not accepted everywhere. Also, the foreign transaction fee of 1% is not ideal - you can find a 0% foreign transaction fee with no annual fee from Capital One, Discover, and in some other places.

Lastly, the reasons this card used to be amazing are becoming less relevant. First, Costco used to only take Amex, and that seems to be changing. Second, Citi Double Cash now offers close to 2% back with no annual fee (although the foreign transaction fee is higher), which means this card is no longer as appealing from a pure rewards perspective.

#5

Great rewards, but merchant acceptance an issue

Great no-fuss cash back:
The 2% flat cash back on this card is great. Never have to worry about signing up for rotating bonus categories or hitting any caps. Also, having automatic deposit into my cash account is great, but in some ways a travel points card would be better because then I would use them for free tickets to fun places vs. saving the cash back rewards.

Merchant acceptance is a problem:
The biggest problem is that I can't ever count on going out with this credit card as the only one in my wallet or on me. Even in the major cities that I spend most of my time in - San Francisco, New York City, Los Angeles - I'm constantly encountering places where they won't accept American Express.

Also, I wish the card looked better like the Chase Sapphire Preferred. But, it doesn't have an annual fee, so I'll probably never cancel it.

#6

Why???

I have a great respect for this site, but the fact that this credit card is not consistently rated among the best baffles me. The fact that one receives CASH in a checking account with quick transfer to ANY other account means those rewards are superior to any travel/points rewards from other card companies. Further, the 2% cash back has NO rewards spending limitations, neither minimums nor maximums. No fee in addition. The only thing you can fault the card for is not having a signup bonus, which becomes negligible after the first year, which should be the case because this card should be every American wallets’ go-to, cash-saving workhorse. (of course, not recommended for international travel, there are other travel rewards cards for that, but they only nominally offer 2+%)


#7

Card is okay but customer service is horrible

Card works fine and reward is okay. Website is ancient and forget trying to set up auto pay. Anytime you call them be prepared to set aside a bunch of time and look for things coming at you via snail mail no email. Always seem to get transferred and have to to the whole security thing again and again. Not very helpful.


#8

as Amex goes, cannot be beat.

5stars


#9

My Favorite Card

I was not a Fidelity fan until discovering this hidden jewel. This is the best rewards card in the U.S., if you have an excellent credit rating and are willing to open a small Fidelity account. I invested a couple of thousand dollars in one of their indexed mutual funds to meet the criteria. You get a free Fidelity checking account. Fidelity’s online bill payment software is second to none. The service is great. I can’t believe it. Fidelity (a brokerage) has the best banking services in the country. It is truly a weird scenario.


#10

Most Horrible Credit Card Experience of my life

I decided to check on my review today, because I received a message in my inbox from fidelity talking to me about my bad experience. So I went to look for my review I left a few weeks ago, to see what they were replying to.

Lo and behold, they had deleted it.

Its not honest of a company to pick and choose which reviews get seen, and which ones don’t. Its not wonder they have such a high rating on their own site (1 star would be more accurate)

I will again try to let the public know of my experience with fia card services, and why I will be cancelling it soon.

Everything was great until they messed up. I had a last statement balance of $12,000 something, and had made a couple of payments leading up to my autopay. My total payments were somewhere around $11,500. So about 2 weeks before autopay, I called up fia card services and told them what was going on. Because apparently they don’t update any credit that you have paid on your account, its either autopay or no pay to them. So I called just to be clear that I had made lots of payments already, so only around $500 should be debited from my account. Their customer service agent agreed and broke down the numbers, confirming that they would only auto debit $500 when the time came. So auto pay day rolls around and I notice they tried to auto debit $5,200 something from my bank? This completely paid off my card, and was not the balance due from the next statement.

I had to call customer service multiple times since then, and my bank to get a handle on the situation. Luckliy at the time I didn’t have enough in my bank to cover it, so they rejected it. Which was great since if they did debit that amount, it would take at least 2 weeks to get a refund back from fia card services. And my mortgage would have been late, my loans, i would’ve been reported delinquent on my loans and credit score would have dropped. So a huge disaster was avoided, that was entirely their fault to begin with.

Later after talking with customer service folks, a $50 credit was suppose to come my way, for all the hassle they said. That never happened, until I wrote my 1st review on here. So its been almost a month since then. Anyways not honest business practices going on here, and unreliable service, that could bring you great financial and credit score harm.

So thats what you get with fia card services. Should have listened to the reviews. You can pay your bill on time, do everything right, and they will find some way to screw up your stuff. No thanks. I have already switched to Citi double cash card Mastercard (accepted EVERYWHERE) that gives 2% back on everything (1% when you buy and 1% when you pay it off, as long as its the minimum amount due). So there’s no reason to take such hassle from this company. Adios fia card services. I sincerely hope you make all the changes you need to bring your card service to the current year of 2015. Also honesty is the best policy :wink:


#11

Read this consumer affairs account BEFORE getting this card!!

This will tell you everything you want to know:
http://www.consumeraffairs.com/credit_cards/fia.html

In short, the benefits are good. But it becomes a thorn in your side very quickly when they start freezing your account habitually. I have had the card for 2 years. I DO NOT RECOMMEND this card due to how awful their processing service "FIA Card Services" is. Fidelity, please fire this service and get something that has better service than a chimpanzee beating against a keyboard. The card is simply unusable, especially if you ever conduct any transaction with any entity outside of the USA.


#12

Needs more robust smart phone app / alerts

Wish the card had a more robust mobile app. I would like to be able to see transactions and get notifications of transactions.