This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CardRatings.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. What is written in the article is the editor's opinion.
- Is the Fidelity Amex the best cashback card in the universe?
- Cut the Crap: The Fidelity Investment Rewards Credit Card is THE BEST cash back card!
- Discover It Is an Amazing Cashback Card (For the 1st Year at Least)!
- Get an Easy $600 with the Discover It Card
Or, you’re crazy not to get these 2 cards. They’re free money!
I’m reviewing my cards because it’s getting to the end of the year and doing a little maintenance on what needs to get dumped or renewed.
On the dump list is:
- Chase British Airways Visa
- AMEX Platinum
- US Bank Club Carlson Visa
- Barclaycard Arrival Plus MasterCard
- And 1 of my 2 American Airlines cards (can’t decide whether to keep Barclays or Citi version)
I need to clear out some clutter because I recently added:
Out with the old, in with the new as they say.
But, there are 2 cashback cards definitely worth keeping and/or getting. And yes, there’s a distinction.
Keep the Fidelity AMEX forever
As long as the gettin’s good with the Fidelity AMEX card, I’ll keep it. I love it.
It earns 2% cash back on every purchase. Full stop. Boom.
No categories to think about, easy peezy.
And, it’s super handy to load up your AMEX Serve account up to $1,000 a month.
On April 16th, 2015, AMEX stripped the ability to load AMEX Serve with anything other than an AMEX card. And that’s when the Fidelity AMEX started to shine.
As you can see, my first round of rewards started in June 2015. Before that, I let my rewards pile up, then started to dutifully load up my AMEX Serve account every month.
It’s how I pay my rent and utility bills, and I love it.
Even if you only load up your AMEX Serve account for $1,000 per month, you’d earn $240 in free money each year that you can cash out or use for statement credits.
Or, you can stash it away in an IRA.
Assuming a 7% return for 20 years, and a $240 contribution each year, you’ll end up with nearly $11,000.
Not bad for a card that’s free to keep!
I also use this card at Costco because they only accept AMEX cards (through March 2016), and it’s eligible for AMEX Offers – which can save you even more money.
While I don’t think this card will last for 20 more years, take the free money while you can. This year, I got $201 bucks – for free. (And there’s still 2 months left!)
Mostly from loading my AMEX Serve account, which is also free.
So it’s literally free money.
Even better, I’m never taxed on the rewards and because I’m putting it into a Roth IRA, I’ll never pay taxes on it. It’s “only” $240 a year, but damn it feels good to get this little slice of cash past the government!
Get the Discover It, and evaluate it for spending
You know what’s shocked the heck outta me?
Again, I can’t overstate how much I’m loving this card.
Other than the cashback is pouring in like crazy. I’ve earned over $500 back since I picked up the card in August!
For a card with no annual fee and no foreign transaction fees, that’s pretty dang good!
And, as you know, the bonus is doubled after the first 12 billing cycles. So I’ll get another $500+ bucks next August!
Even better, you can earn $500 from referring your frans. You get $50 per fran you refer, up to 10 frans each calendar year.
Which means you can earn $500 in 2015, and turn around and do it again in 2016.
$1,000 easy bucks… which will then be doubled. $2,000 (assuming you refer 20 peeps total, 10 in each calendar year).
So, feel free to post your referral links in the comments below! Or, if you want to pick up the card, it’s available via my links, too.
Then there’s the Discover Deals portal.
Here’s how the math breaks down:
- 10% from Discover Deals
- 5% from the category bonus
- Doubled after 12 billing cycles
- You get 15% back now and another 15% back later, for a total of 30% off
You essentially get a 30% discount that’s stackable with other deals, promos, etc.
At Kohl’s, I like to stack it like this:
- 30% off with a promo code
- Free shipping with a promo code
- Earn Kohl’s cash
- Earn Yes2You Rewards
- Get another 30% off with Discover It (which is 2 “dips”)
Add it all up, and you have yourself a quintuple dip (and a huge amount of savings!)
Be careful to pay with your Discover card after you click through the portal, though. They’ve been cracking down on that recently.
But the 2nd year? I mean 5% back is a handy category. But 1% back is lackluster.
That said, it’s free to keep, and who knows, there might be a nice promotion down the road.
At the very least, it’s good to keep to age your credit accounts for free.
Either way, they’re both free to have, and it’s easy to get nearly $1,000 bucks (or more) in solid cash money from these cards ($240 from Fidelity AMEX by loading to AMEX Serve, and $600 from Discover It – but probably more).
Feel free to weigh in if you agree – or think another card is better!
BEST Current Credit Card Deals
- Chase Ink Business Preferred - Earn 80,000 Chase Ultimate Rewards points and 3X bonus points for travel, internet, cable, and phone service
- Chase Sapphire Preferred - Earn 50,000 Chase points with the BEST card for beginners
- Amex Blue Business Plus - Earn 10,000 Amex Membership Rewards points and 2X bonus points on up to $50,000 in spending per year with NO annual fee