Fidelity has announced a substantially similar offer...
http://www.marketwatch.com/news/stor...00F7828103B%7D
The press release is primarily about a new product Fidelity Retirement Rewards Card, but read all the way to the end:
With enhancements scheduled for early 2009, the new Fidelity Investment Rewards American Express Card and the Fidelity Investments 529 College Rewards American Express Card will be offering a new 2 percent earn rate on retail purchases
Except Fidelity is offering AmEx. I was hoping that it would enhance its 1.5% cash rebate Visa card...