Question
I have just received my new MBNA Fidelity 529 card which gives me 2% cash back into my Fidelity 529 account, maximum contibution $1500/year. I was surprised to find that this card ALSO gives an unlimited number of WorldPoints, 1 point for every dollar in net charges. 25,000 WorldPoints are equivalent to $250 cash back or a $400 domestic flight, among other rewards. I called MBNA to be sure that I will receive both the 529 contribution and WorldPoint contribution for each dollar charged, and I was told by 2 different rep's that this is the case. I think that makes this one of the most rewarding cards around for those of us saving for college. :)
Answer
I am not sure you will get both 2% on 529 plans and world points. I checked with the Fidelity web site and it is quite clear. Do you have a link which says you will get both benefits?
Answer
I applied through the Fidelity website and did not realize that the WorldPoints were in add'n to my 529 2% contribution until I got the card in the mail and the written literature with the card informed me of the worldpoints. I called 2 different rep's as I thought the first answer was too good to be true. I will post back in a month or two, as by then I will know for sure when I get my statements, but posted now to see if anyone else has this card and has more info.
Answer
Just talked to rep #3, who stated that the Fidelity 2% is instead of the worldpoints, and that the worldpoint literature automatically comes with all of the credit cards. Confusing brochure to say the least, and the fact that the first 2 reps did not give me the correct info did not help at all. Sorry to waste everyone's time!
Answer
The reason its so confusing is that there are now 2 versions of the Fidelity 529 card. One earns a flat 2% redeemable only to Fidelity, max of $750 per year IIRC.
The newest version earns unlimited Worldpoints which can be redeemed for Fidelity (works out to the same 2% as above) but also can be redeemed for other things (not usually worth it, but can do it).