New Fidelity Retirement Rewards 2% Card

Has saving for retirement become more of a challenge these days? Well it looks like the people at Fidelity are trying to make it a little easier.

Fidelity has come out with a new American Express card that will give you 2% cash back on purchases. The 2% can be applied to any Fidelity Retirement account. The card is being labeled as their “Retirement Rewards” card.

What’s nice about this card is that there is no max spending limit. So theoretically if you spend $25,000 a year on this card you can have $500 deposited into your retirement account.

Features of the Card:

• You’ll earn 2 points for each $1 you spend on purchases
• Reach 5,000 points after you make $2,500 in purchases and $50 can be automatically swept into your Fidelity IRA as a current year contribution or other Fidelity account
• Enjoy more flexibility with additional WorldPoints® rewards options, including travel, merchandise, travel, and other rewards

Since this is an American Express you also get some of their standard card features:

• 24-hour customer service
• 0% fraud liability and identity theft recovery service
• Retail purchase protection for merchandise
• Travel security benefits including car rental loss & damage insurance and travel accident insurance

If you are on a tight budget and can pay off your credit card every month, why not get this card and use it in place of your debit card or checks. Before you know it you will be contributing to your retirement without spending any more than you did before. If you already have a Fidelity retirement account then this is a no braininer. If you don’t, opening one is very easy. You can rollover another IRA to Fidelity for free. (See details here)

You can find more detail on the card and apply here

If you are looking for a decent cash back card with no limits but where you get cash back instead, take a look at the Fidelity Cash Back Visa which earns 1.5% on all purchases with no limit on how much you can earn.