The Fidelity Rewards Amex Card just launched and it rebates a high 2% into a Fidelity IRA. There is no annual fee and no minimum balance.
As you can see from the BestCashCow Credit Card Rewards page, 2% is pretty high for an unrestricted rebate amount. Some credit card companies pay higher but they only pay on certain items, or they cap the amount that you can earn per year. Fidelity has no restrictions on what you earn 2% on and there is no limit to what you can earn.
I have the Fidelity 529 College Rewards Card and 2% of whatever I spend is deposited into a 529 plan for my kid's college education.
For every $1 that you spend you'll earn 2 rewards points. Once you reach Reach 5,000 points (after making $2,500 in purchases) $50 can be automatically swept into your Fidelity IRA as a current year contribution or other Fidelity account. You'll obviously need a Fidelity account in order to redeem the offer.
The card, like all credit cards, is best used by someone who pays off their balances in full every month. The card charges a 16.99% APR. Balance transfers receive an intro. rate of 1.9% for the first 6 statement Closing Dates. After that the rate is 16.99% APR.
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Citi Platinum Select Card by BestCash Admin - Sep 19, 2007.
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