@Juno
My weekly deposit is still available for trade before the funds leave my checking account, so I haven’t noticed anything different with my brokerage account
Tariq said:
@Juno
My weekly deposit is still available for trade before the funds leave my checking account, so I haven’t noticed anything different with my brokerage account
Made a transfer from my local checking account to Fidelity a few days ago (with my fingers crossed) and everything went smoothly. Seems to be a lot of CMA and new accounts. Check out the thread OP linked in the comments.
@Juno
Only the CMA. Brokerage accts seem fine. I’ve been able to move money in my brokerage accts just fine during this issue.
FALEH said:
@Juno
Only the CMA. Brokerage accts seem fine. I’ve been able to move money in my brokerage accts just fine during this issue.
If you try to make a mobile deposit, you may find that the brokerage account also has had its deposit limit slashed.
FWIW, the card is issued by Elan and is not issued by Fidelity, so I’d imagine the issues are very very separate.
Harmon said:
FWIW, the card is issued by Elan and is not issued by Fidelity, so I’d imagine the issues are very very separate.
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Harmon said:
FWIW, the card is issued by Elan and is not issued by Fidelity, so I’d imagine the issues are very very separate.
[deleted]
Not really. I use the Fidelity CMA, the partner bank is UMB.
@Harmon
Oh you’re right. My bad.
I use my credit Union for all my banking needs, fidelity only exists for my investment and money market accounts. I would never use anything but a local credit union for my banking needs.
Uncapped 2% with no FTF or membership fee is pretty dope though, the Fidelity card is my general use card through-and-through.
I’m waiting with bated breath about the US Bank Smartly card. If the 4% is uncapped you bet your ass I’m migrating over.
@Francis
I got excited when I looked up this card and saw 4%. But then I realized you need $100,000 with them and was sigh… but you’re right. Something about keeping investments and banking separate…
@Firth
$250k to avoid the $50 annual brokerage fee. But for all extra 1.5% over Alliant (hopefully without a monthly spend cap) or 2% over the rest, you’ll break even between $2,500 to $3,333 annual spend, depending which card you’re comparing against. I’ll probably just move $250k there since there are 100 free trades per year. I don’t need anywhere near that many, especially since I won’t be adding new funds. I’m just hoping they don’t nerd that 4%… Lots of us are really looking forward to it.
I’ve got no beef with Fidelity.
I hope they do everything necessary to protect the security of my retirement nest egg.
What does deposit holding period have to do with the credit card?
No, maybe if I was affected
I haven’t noticed any difference on my end, so no.
The issuing bank is actually Elan Financial Services, related to US Bank. Anyone actually getting affected with issues paying that card?
I’ve been considering the new smartly card from US Bank. Why hold my liquid money in Fidelity when I can get twice the rewards on my card holding my cash in an actual bank that won’t have this problem? Of course, the card isn’t officially out yet so we don’t know the fine print. Just an idea I’m kicking around.
@Zadie
Just checked out the card. I got excited until I found out to get the 4% you need $100,000 with US bank
Firth said:
@Zadie
Just checked out the card. I got excited until I found out to get the 4% you need $100,000 with US bank
Yea but you can get 3% for a lot less and that will match or beat most cards on the market since it is across the board if you average out category and non-category spend. For someone who doesn’t want a dozen cards trying to remember which one gives what on what category, the card is still good.
@Zadie
True, but how much does the savings account pay? You may lose that 1-2% on your cash by not having a higher yielding savings account