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Fidelity Investments® 529 College Rewards® American Express® Review
Issued by American Express
  
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Overall Rating:
Benefit Rating:
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The Fidelity Investments® 529 College Rewards® American Express® Card, issued by FIA Card Services, N.A., is designed for students with very good credit who would like to earn cash deposits to their Fidelity 529 College Savings Plan account.
Through the reward program, cardholders earn 1.5 points for every $100 spent on net retail purchases. Each point is equal to one Fidelity 529 Dollar and points are automatically deposited into the cardholder's Fidelity-managed 529 plan account each time 50 points are accrued. The amount of money that can be deposited into the account is limited to $1,500 per year, but points never expire.
Through the American Express Selects(SM) program, cardholders will receive special online offers from merchants around the world and save on airfare, electronics and more.
In addition to the reward program, the card also provides common benefits such as emergency cash replacement, access to a personal concierge service, and online account access.
The card has an above average interest rate for purchases and balance transfers, no annual fee, and a 0% introductory rate that can be applied toward cash advance checks and balance transfers for the first twelve billing cycles.
Therefore, students who will be able to take advantage of the reward program and the low introductory offer will benefit most from what the Fidelity Investments® 529 College Rewards® American Express® Card has to offer.
Through the reward program, cardholders earn 1.5 points for every $100 spent on net retail purchases. Each point is equal to one Fidelity 529 Dollar and points are automatically deposited into the cardholder's Fidelity-managed 529 plan account each time 50 points are accrued. The amount of money that can be deposited into the account is limited to $1,500 per year, but points never expire.
Through the American Express Selects(SM) program, cardholders will receive special online offers from merchants around the world and save on airfare, electronics and more.
In addition to the reward program, the card also provides common benefits such as emergency cash replacement, access to a personal concierge service, and online account access.
The card has an above average interest rate for purchases and balance transfers, no annual fee, and a 0% introductory rate that can be applied toward cash advance checks and balance transfers for the first twelve billing cycles.
Therefore, students who will be able to take advantage of the reward program and the low introductory offer will benefit most from what the Fidelity Investments® 529 College Rewards® American Express® Card has to offer.
Review Date: September 22, 2008
Note: The review on this card was updated on September 22, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.
| Credit Card Rate Details | |
Intro Rate (Intro APR):
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0% APR for 12 Billing Cycles |
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Intro Applied Towards:
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Balance Transfers |
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Additional Intro Details:
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The introductory rate is also available for cash advance checks. |
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Purchase APR:
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16.99% (Fixed) The APR for purchases is based on the Prime Rate. |
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Cash APR:
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24.99% (Fixed) The APR for cash advances is based on the Prime Rate. There is a minimum APR on cash advances. |
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Finance Configuration:
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Average Daily Balance (including new purchases) |
| Credit Card Fee Details | |
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Annual Fee:
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$0 |
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Additional Cardholders:
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$0 |
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Grace Period:
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20 Days (Min.) |
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Late Payment Fee:
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$15 on balances up to $100; $29 on balances over $100 up to $250; $39 on balances over $250 |
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Over the Limit Fee:
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$15 on balances up to $500; $29 on balances over $500 up to $1,000; $39 on balances over $1,000 |
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Cash Advance Fee:
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3%, $10 minimum |
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Balance Transfer Fee:
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3%, $10 minimum |
| Credit Card Reward Program Details (Point) | |
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Rebate Minimum:
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1.5%** |
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Rebate Maximum:
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1.5%** |
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Additional Rebates:
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None |
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Rebate Details:
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**Cardholders receive 1.5% for every $100 in eligible net retail purchases. Each percentage is equal to one Fidelity 529 Dollar when deposited in a Fidelity-managed 529 plan account. Once 50 percentage points have been accrued, the points are automaticall |
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Expiration:
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None |
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Yearly Limit:
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1,500 Points |
| Features | |
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Most Attractive Feature(s):
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| No annual fee; 0% introductory rate. | |
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Least Attractive Feature(s):
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| No extraordinary benefits or services offered to cardholders aside from the reward program. | |
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Additional Features:
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| Various Internet account related services. Access to MyConcierge(SM) service. Emergency cash replacement. Access to the American Express Selects(SM) program for discounts on products and services at participating merchants and retailers. See website for additional benefits. |
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Important Notations
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| **A state-sponsored 529 College Savings Plan account managed by Fidelity Investments must be open, funded, and designated with FIA Card Services, N.A., in order for points to be transferred and Fidelity 529 Dollars deposited. ***See website for complete terms and conditions of card usage and application disclosure. | |
