Fidelity MasterCard® Credit Cards
How many percentage points are credit card companies willing to pay you as cash back for you to use their cards? As I blogged earlier, CitiBank will pay you 1% for everything plus 5% for spendings at supermarkets, gas stations and drugstores, up to an annual limit of $300. Bank One and lots of other issuers will compete for your business if you settle for 1% flat cash back.
Actually there are even better deals if you are the type of customer someone wants to attract. Fidelity, partnering with MBNA, is offering two attractive credit cards for college savers and investors, particularly:
Fidelity Investment Rewards® MasterCard®
This no-fee card will award you 1.5% of your credit card purchases as a credit to your designated Fidelity account (individual, joint, Roth IRA, Traditional IRA and Rollover IRA). $50 is the minimal award and annual award limit is $1,500 (from $100,000 credit card purchases).
Fidelity Investments 529 College Rewards Card
Fidelity favors college savers even more: with this no-fee card, a flat 2% cash back will be awarded to your Fidelity-managed 529 account, subject to an annual limit of $1,500 contribution (from $75,000 credit card purchases).
As with every card card offer you are tempted to apply for, it is always prudent to read the fine print. In my check, both cards don't have any catches except for the fact that your Fidelity account may be subject to account maintenance fees.
(This post is part of PFBlog Product Review series. Check out more reviews here.)
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