Note that this is capped at a
maximum quarterly limit of $ 1,500 — this translates to a maximum cash back rewards of $ 75 ($ 1,500 x 0.05 = 75).
One drawback of the Cash Rewards card is the $ 2,500
quarterly limit on its bonus categories, but there are no such limits with the Fidelity Amex.
Keep in mind, if you spend over the $ 1,500
quarterly limit in the bonus categories, you go back to the regular 1 % cash back rate until the new categories rotate in after the three months are over.
One drawback of the Cash Rewards card is the $ 2,500
quarterly limit on its bonus categories, but there are no such limits with the Fidelity Amex.
Keep in mind, if you spend over the $ 1,500
quarterly limit in the bonus categories, you go back to the regular 1 % cash back rate until the new categories rotate in after the three months are over.
After reaching the 2 % and 3 %
quarterly limits, you continue to earn 1 % cash back on all purchases in those categories.
This is one of the best benefits we've seen on any cash back card, since it will effectively make your cash back rate 2 % to 10 % for those first 12 months, up to
the quarterly limits.
This is assuming you don't hit the $ 1,500
quarterly limit.
The optimal way to use the two cards together: use the Chase Freedom ® for any purchases that can earn you five Ultimate Rewards points per dollar, up to the $ 1,500
quarterly limit.
This is assuming you don't hit the $ 1,500
quarterly limit.
This is one of the best benefits we've seen on any cash back card, since it will effectively make your cash back rate 2 % to 10 % for those first 12 months, up to
the quarterly limits.
That means, if you're a new cardmember, you can receive an effective cash back rate of 2 % on all spending, and up to 10 % on rotating categories (up to the $ 1,500
quarterly limit) during that first year.
Just note that there is a $ 1,500
quarterly limit to the amount of 5 % cashback you can earn, a nice bonus for big spenders.
Once you hit
the quarterly limit, you keep earning cash back for purchases at gas stations and grocery stores and wholesale clubs at a rate of 1 % cash back.
Once you hit the $ 1,000
quarterly limit, you'll keep earning unlimited 1 % back on gas and restaurant purchases.
Bonus rewards will have
quarterly limits.
Wholesale clubs are now included in the 2 % category and
the quarterly limit has been increased to $ 2,500 in combined grocery / wholesale club / gas purchases each quarter.
The optimal way to use the two cards together: use the Chase Freedom ® for any purchases that can earn you five Ultimate Rewards points per dollar, up to the $ 1,500
quarterly limit.
2 % Cash back on restaurants
no quarterly limit crap.
This is assuming you don't hit the $ 1,500
quarterly limit.
* You can opt to pay extra $ 90 for a la carte supervision sessions above and beyond the quarterly limit