The old Blue Cash's 5% is the one of most misleading marketing practices since you will never achieve 5% due to that $6,500 threshold. You are losing money to cross that threshold thus you will have to reduce your effective cashback OR you just treat it as an hidden annual fee like mia suggested.
The new Blue Cash Preferred, on the other hand, is very straightforward and have the $75 annual fee up front with 6% cashback on groceries. Of course, your effective cashback is less than 6%, but if your spending on groceries is big then it could beat the old Blue Cash.
Also you could link your Fidelity Amex to your brokerage account so even if you don't use Fidelity at all, you can always just transfer money out easily.
Originally Posted by
Mediahound
I've calculated it out and I get more cash back with the blue cash annually since it gives 5% on gas and groceries.. Plus the fidelity one goes into a retirement account, not as useful especially since I don't use fidelity.