Old Dec 9, 08, 6:03 pm
  #18  
Happy
FlyerTalk Evangelist
 
Join Date: Jul 2003
Location: Florida
Posts: 27,285
Originally Posted by DoubleJ View Post
According to the Schwab Bank Invest First card website FAQs:

Still, as you point out, it would only really be a good deal if one intends to keep a Schwab brokerage account (as there's no other way to get the 2% rebate without it). Thanks for the reply, Happy.
My take is, if your spending is small, then the 3% forex fee is nothing to sweat about, just use your regular card which may already have some sort of reward anyway, like 1% (mileage card) or 3% (Citi Plat AMEX) - so it basically offset some, or all of the forex fee. Your net cost would be either 2% or 0% - breakeven - so why bother to get a new card just to avoid the forex fee?!

When your forex spendings are big, then you would not only want to avoid the fee, but you dont want to lose the rebate as well. That is why you would still open the Schwab brokerage account.

Originally Posted by mia View Post
Fidelity has announced a substantially similar offer...

http://www.marketwatch.com/news/stor...00F7828103B%7D

Useless for 2 things:

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
1) it is an AMEX which is not accepted by many merchants. Our recent trip to BCN the appartment owner would not take AMEX but would take Visa or MC, for our weeklong rental, for example.

2) for those who are not eligible to put money into IRA accounts.
Happy is offline