One of the biggest changes to my credit card strategy in 2020 was adding several cash-back cards to my wallet. Before COVID, I wanted to earn transferrable hotel points instead of cashback. However, when we weren’t traveling much and were getting more rewards points back from canceling travel plans than from credit card spending on dining and travel, I took the opportunity to diversify my credit card portfolio.
One card I picked up just over a year ago was the Fidelity Rewards card.
It’s a pure 2% cashback card. For me, it takes no effort to redeem points. Once my account reaches a certain level, the funds are automatically transferred into my Fidelity checking account.
How much have I used the card over the last year?
When I signed up for the card, I received a $150 bonus. Since then, I’ve earned an additional $149 in rewards. For a no-annual-fee card, I’ve earned $300 back. This is solely on spending that would only earn 1 point per dollar with my other cards.
In addition, I’ve received several spending offers for this card over the year. They haven’t been enough for me to move spending but any offers for a free card is a good thing.
Before this card, my only cashback card was my Discover, which I kept to take advantage of the rotating 5% categories. Adding a pure 2% cashback card was a nice addition to my wallet and I’m planning on keeping this one for the long term.
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This post first appeared on Your Mileage May Vary
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