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As Fidelity divorces American Express, Schwab steps in to launch AmEx cards -- with help from RIAs -- as part of broader effort

Fidelity says the average user got $1,500 in cash back last year, suggesting the average annual card-holder spend is around $75,000

Monday, May 2, 2016 – 6:37 PM by Sanders Wommack
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Schwab teamed with AmEx months after rival Fidelity switched from AmEx to Visa

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June 19, 2016 — 7:37 PM

Your title is a little misleading.

Fidelity “Amex” card was not a credit card issued by Amex.

The card was issued by FIA (Bank of America) that ran on the Amex network.



September 30, 2016 — 7:16 PM
In connection with its switch to the Fidelity Visa card from American Express, Fidelity failed to inform its customers that it's Full View service (akin to Mint and expense aggregating services) would not interface with the newcard's transaction history until at least the 3rd quarter of 2017. This undisclosed shortcoming constitutes a major inconvenience for Fidelity customer who use its rewards card and also relied on its Full View services for budgeting and expense tracking. It's a puzzling failure for Fidlity which continues to tout both Full View and its Visa rewards card without disclosing this significant shortcoming.

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