Consumer Payment Card News

Retirement AmEx

Another major investment firm is looking to drum up more business with a cash-back credit card. The new “Fidelity Retirement Rewards American Express” card offers a 2% earn rate on retail purchases when cardholders redeem their cash rewards as a current year contribution into their Fidelity IRA (Traditional IRAs, Roth IRAs and SEP IRA) accounts. Once a cardholder reaches a minimum of 5,000 points, or $2,500 in purchases, points can be automatically swept as a $50 current year contribution into the users designated Fidelity IRA. If the cardholder has maxed out their IRA contribution for that year, they can continue to accrue points and restart automatic deposits to their IRA the next year. Cardholders can also automatically redeem their rewards as cash into other Fidelity accounts or redeem them for various rewards. For more information visit: “”:

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