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5,000 point Fidelity American Express bonus (2% no fee rewards)

by on Tue October 27, 2015 • No Comment


The Fidelity American Express credit card has long been a simple way to get basic 2% rewards on everything you buy with no annual fee. You can use the rewards for cash in your Fidelity account or to book travel.

For much of the year it’s been available with a 5,000 point bonus worth $50 when you spend $500 within the first 60 days you hold the card.

That deal went away briefly, but it’s back again here thanks to an alert Reddit user.

Is this worth your time?

A simple $50 sounds kind of boring.

But in the realm of no fee rewards this is the grey lady of cards.

Sometimes you need just straight 2% rewards you can use on anything, and want a card from a different bank than you’re dealing with now.

This Fidelity card is handled  by FIA Card Services on the back end, which is part of Bank of America.

It’s hard to argue with no fee.


But there are some downsides:

  • It’s clunky to get your rewards, because you have to set up a Fidelity cash account to access them. There’s no fee or minimum balance, but going through the process of opening a new account is one more thing to remember.
  • There’s a fee on foreign transactions. It’s small – just 1% – but the gold standard these days is no fee at all.
  • The online interface is pretty old school.

Fidelity can get away offering generous rewards like this because it’s hoping once your rewards are in a Fidelity account you’ll feel more comfortable using Fidelity for bigger things like your retirement savings.

They’ve told the New York Times recently the rewards will definitely be around for well over a year. But the special 5,000 point sign on might not stick around, so if you’re thinking about this card get it with a deal while you can.



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