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Fidelity® Customers Have Earned $500 Million Using Fidelity Rewards Credit Cards
Unlimited 2% Cash Back On All Purchases into an Eligible Fidelity Account Helps Customers Easily Add To Their Savings GoalsBOSTON – Fidelity Investments® today announced that its credit card offerings, including its award-winning1 Fidelity® Rewards American Express® Cards with an earn rate of 2% cash back on purchases when deposited into an eligible Fidelity account2, have helped Cardmembers earn cash rewards totaling more than $500 million since first introduced in 2003.
Customers have directed their rewards towards savings in a Fidelity brokerage account, Fidelity retirement account, Fidelity-managed 529 college savings plan or Fidelity Cash Management Account. Fidelity gives customers the flexibility to direct different percentages of their cash back rewards into multiple accounts.
“People are looking to maximize their savings wherever they can, so it makes sense for investors to consider a credit card that will earn unlimited 2% Fidelity rewards,” said James C. Burton, president of Fidelity’s retail brokerage business. “Every cash back award counts, especially when it’s going into an investing account where it has the power to earn returns over time.”
In 2012, customers have averaged nearly $122 in rewards per month3 using their Fidelity Rewards Cards, putting them on track to earn nearly $1,500 by the end of the year.
Feedback from customers about the Fidelity® Rewards American Express® Cards is being captured via Fidelity’s new online Ratings & Reviews system, where nearly 80 percent of reviewers have rated it a four or a five out of five stars. Of those reviewers, 99 percent would recommend the card to their friends4. Highlights include:
• Simple: “Simple! No rotating categories, no hoops to jump through to get rewards. Rewards are automatically deposited. This is the way cashback cards should be.” (Male aged between 55 and 64)
• Free Money: “This is a great way to get something for nothing. We have been able to invest $600 worth of ‘free money’ for my daughter’s college education in the past year.” (Male aged between 35 and 54)
• More than 2%: “What I spend in my 20's will add to my retirement nest! … By investing in my Fidelity Roth Account I will surely get much more than the 2% cash back. Friends and family have turned to this credit card because with all the rewards programs out there, no other compares.” (Female aged between 25 and 34)
Investors can apply for a Fidelity® Rewards American Express® Card and a Fidelity® Investment Rewards® Visa Signature® Card online, calling 800-Fidelity, or by visiting one of Fidelity’s 172 investor centers throughout the United States5.
About Fidelity Investments
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $3.7 trillion, including managed assets of $1.6 trillion, as of Aug. 31, 2012. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com.
1) “Award-winning” substantiation: “Survey: Best Cash Back Cards” CBS Money Watch, 2/14/2012; “Best Credit Cards for Major Phases of Life” TheStreet.com, 6/24/2011; named the “Best Cash Back Card Ever” by Forbes.com (8/20/2010)