This is part of the TFB Awards for Best In Class in Financial Services series.
The Fidelity Investments Rewards Card wins the award in the category of Best Credit Card for Everything Except Grocery, Gas, and Drugstore Purchases. For grocery, gas and drugstore purchases, you are better off using the other card, but for everything else, this card wins the award. For the maximum benefit, you need a Fidelity Investment account, which is also a TFB Award winner. You earn 1 point for each $1 purchase. You can redeem every 5,000 points for $75, deposited to your Fidelity account. Most other reward cards gives 1% cash reward on purchases. You get 1.5% cash reward from this Fidelity card. That’s 50% more! The card is offered by FIA, formerly MBNA, now part of Bank of America. It has a unique bill payment service which allows you to pay other bills from the credit card. Although bill payment from the card does not earn reward points, you can consolidate all your other bills into the card and pay only one bill from your bank account. This makes managing your checking account really simple. If you use the card to pay all your bills every month, the float gained is easily worth over $150 a year.