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Exploring Amex Serve for free money and handy uses after April 16th

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Since I’m without REDbird and just have Serve as an option here in NYC, I’ve been thinking a lot about how to best use Serve following its move to Amex-only cards after April 16th.

They’re really not leaving consumers with a whole lot of options, but there are a few ways to get some great value and/or handy uses out of Serve using just American Express cards.

But don’t get them from American Express

In this post, I produced a list of all the Amex cards that are not issued by American Express.

Why?

Credit cards issued by American Express will not earn points and will not count toward minimum spend when used to load Serve. Which is so lame. I’d love to be able to use the Amex EveryDay Preferred to load this puppy up.

But alas, we take what we can get.

The FIA Fidelity Amex (!!!)

Why don’t other bloggers talk about this card more? This is my number one use of this card following April 16th. I’ve written about this card in detail many times before.

The transactions post flawlessly and are coded as purchases and earn free money.

I loaded up my Serve this month with my Barclays AAdvantage Aviator Red MasterCard for $990 to take AAdvantage of the 50% bonus that I was targeted for a few weeks ago to earn some extra free miles.

But then I loaded up the remaining $10 to my FIA Fidelity Amex to see how it would post.

Serve reloads code as purchases with FIA

Serve reloads code as purchases with FIA

And points post without any issue

And points post without any issue

What does this mean?

You can earn an extra completely, totally 100% free $240 to credit toward an IRA, brokerage account, or checking account for 1 minute of “work” each month. I use the Serve iPhone app to blearily load up my Serve account from bed the first 5 days of each month. It takes me literally seconds. This is the easiest money I’ve ever earned in my life, I think. I consider this, by far, the best use of the Serve card after April 16th.

Why?

The FIA Fidelity Amex has no annual fee and earns an unlimited 2% cash back on every purchase… including Serve reloads.

Say you get the FIA Fidelity Amex, which is free, and the Serve card, which is also free, and load up $1,000 each month and then pay it off.

You’d be stashing away a free $240 annually into a retirement account with very little effort.

I plugged in my own numbers into Bloomberg’s retirement calculator, and, assuming I contribute nothing but the $240 each year (and it grows at 7% annually) between now and when I’m 68, I’d have a totally free $40,000+ waiting for me on the other side.

My $240 a year would grow to over $40,000 for my retirement

My $240 a year would grow to over $40,000 for my retirement

This whole Serve reload thing probably won’t last for the next 38 years, but take the free money while you can. I like to stash away at least $200-$400 per month into my IRA, and the extra $20 isn’t much but with compound interest on your side, a little truly goes a long way. And this is completely free money. Which is awesome, and there is no reason not to take advantage of this if you can.

Get some free miles

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