They killed it when MBNA (who owned FIA) was sold to BofA. All financial institutions cards are handled by FIA, it seems. Schwab did not kill it until 6 or 9 months later after Fido did. Obviously Schwab saw the relatively small revenues enhancer on this 3% forex fee would be better offset by luring a lot more cardholders (high-spending cardholders as well) by dropping the forex fee and upping the return to 2%.

AMEX is never as good as Visa or MC, for acceptance both domestic or aboard anyway. It is very stupid on Fido's part not to seriously study Schwab's products and always react to them, such as mySmartCash being the response to Schwab's Investor Checking after the latter was introduced many months.