How I use it:
- Everything else that I don’t purposefully use another card for
- 2% back on every purchase
- Funds need to go in to a Fidelity investment account
Annual Value: $480
- $480 from everything else (2% x $2,000 spending a month x 12 months)
This is the catch-all card. Everything that doesn’t fit in to some other category that we use a different card for goes on the Fidelity card. Groceries, Life Insurance, Oil Changes, Gym Memberships, Trash, Car Insurance, etc.
In fact, now that I’m typing this out, I need to look in to if we can skip the escrow on our mortgage for taxes and insurance, and instead use a card. If so, that’s 2% on around $5,000 a year, which comes out to $100/year. Not bad for maybe taking 5 minutes to call the bank. [UPDATE] You can use it for home insurance, but the county charges a fee of around 3% to use a card for your taxes, so not worth it.
On that note, I also like that all of the funds go in to a retirement account. We could probably all be better at saving, so I like this approach to just make it happen. Once a quarter I’ll go in and buy whatever stock or index fund I think might be undervalued at the time, so maybe 20 minutes of work a year to maintain.