Using my annual statement, I was able to compare the actual Amex Blue Cash rewards against what my Fidelity Retirement American Express Card is promising.
Fidelity Amex promises 2% cash back on all purchases.
- No trying to pick the best card for each purchase.
- Unfortunately, they are run by FIA card services. From prior experience with FIA, they are not easy to deal with and their website is 2-3 years behind Amex's.
- Charges do not download into Quicken until the monthly statement is ready and I do it manually from FIA's website. Truly, this is a hassle.
- They will automatically transfer $50 into my brokerage account every time I hit the $2,500 spending threshold.
Amex Blue Cash has a complicated formula for determining cash back.
- I have access to the fantastic Amex website.
- In addition to nice features such as an annual summary, they have historically had great customer service.
- Charges download automatically into Quicken.
- You get the cash back in a lump sum one time per year.
Results: After crunching the numbers, I determined Amex Blue returned a net 1.86% of total spending to me.
Conclusion: For .14%, my family will continue to use the Amex Blue as our primary card. Over a year, the additional interest from the Fidelity card would not likely exceed $25. For that amount, the service and ease of use of the Amex Blue card makes it a winner.