Question
Attention Costco Shoppers! Here’s a way to put a full 1.5% of your Costco (and other AMEX purchases) into your childrens' college fund. Whereas the Costco card gives you a full 1% back for Costco purchases this one beats it by 50%. It does not tier up to 1.5% as the American Express Cash Back Platinum card does (the one I have been using at Costco for years). It is a full 1.5%; so I’ll be switching my Costco purchases to this card (I’ll still use the Costco AMEX for Restaurants (3%) and some travel (2%) purchases though.)
Separately, Fidelity recently lowered the rebate on its 529 Mastercard from 2% to 1.5% for new accounts—existing accounts are grandfathered at 2% (we’ll so how long that lasts!) but at the same time introduced this new AMEX 529 card. If you drop as much money as I do at the home of the $100 hot dog, this will be a significant source of funding for your kids' college!
Link--Amex Card is at Bottom of Page (http://personal.fidelity.com/products/checking/content/mcplatplus.shtml.cvsr)