bargainshare.com > Fidelity mySmart Cash Account, 3.50% APY

Full Version: Fidelity mySmart Cash Account, 3.50% APY

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cron

8-8-07, 3:19am

3.50% APY, 7 times higher than the national average
No initial deposit or minimum balance required
Deposits are eligible for FDIC insurance
We automatically credit you all ATM fees at 1 million plus ATMs worldwide. (ATMs displaying Visa or PLUS systems network logos)
Free state-of-the-art online Fidelity BillPay.
No annual fee Fidelity Investment Rewards Visa Signature® credit card lets you earn points that can be redeemed for cash into a mySmart Cash Account at a 1.5% rate.
Free unlimited checkwriting with no charge for standard checkbooks.
No minimum balance requirement means no low balance fees.
Self-funded overdraft protection

Need more detail? View Frequently Asked Questions
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Looks very similar to the Schwab investor checking. Fidelity has a lower APY compared to Schwab's 4.25%

cron

8-8-07, 3:22am

No annual fee Fidelity Investment Rewards Visa Signature credit card lets you earn points that can be redeemed for cash into a mySmart Cash Account at a 1.5% rate.

QUOTE

The Fidelity Investment Rewards Visa Signature® credit card allows customers to earn WorldPoints® rewards on net retail purchases. Points redeemed for cash into your mySmart Cash AccountSM must be in 5,000 point increments with 5,000 points equaling a $75 deposit. For information about the rates, fees, other costs, and benefits associated with the use of this credit card, refer to the disclosures accompanying the online credit card application, or call FIA Card Services toll-free at 1-800-551-0839 (TTY users, call 1-866-247-3249). This credit card program is issued and administered by FIA Card Services, N.A., which is not an affiliate of Fidelity Investments. Visa Signature is a registered trademark of Visa International Service Association, and is used by the issuer pursuant to license from Visa U.S.A., Inc.

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This seems like one of the unique perks of this card. I'm trying to figure out what the catch is.
So it's 1.5% on all credit card purchases and then they pay out the rewards into your mySmart account?

cron

8-10-07, 11:16am

I think this might work well for me in combo with the fidelity money market accounts. I'll post back my experience with the signup at some later point.

I do like the schwab rate better though.

Depending on how you set it up though, you could at least get the Fidelity signup bonus:
$100 bonus when you Open an Eligible Fidelity Account (Must fund with at least $10k)

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