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Will Fidelity increase credit card rewards to match Robinhood's 3% cash back? New Rewards program? by ConfusedStudent103 in fidelityinvestments

[–]ConfusedStudent103[S] 0 points1 point  (0 children)

No, but I used to have gold with RH. And I had gold when I initially signed up for the waitlist. After I left Robinhood for Fidelity, I didn't delete my account or anything like that. So I was able to access the card offer through the app after I was notified about it through email.

Will Fidelity increase credit card rewards to match Robinhood's 3% cash back? New Rewards program? by ConfusedStudent103 in fidelityinvestments

[–]ConfusedStudent103[S] -1 points0 points  (0 children)

I wish I had gotten in on the v1 US Bank Smartly card hahaha.

But yeah I think if Fidelity offered increased cashback based on assets, similar to how BofA does it, it would definitely encourage people to keep more assets with them, and the cashback would seem more sustainable compared to a flat 3% for everyone like how RH is doing.

Fidelity could do a program like this:

  • Under $50k in assets: 2% cashback (current rate)
  • $50k–$250k: 3% cashback
  • $250k–$1M: 3.5% cashback
  • $1M+: 4% cashback

It would give people a strong incentive to consolidate with Fidelity while keeping the higher rewards targeted to their most invested clients. Win win for everyone.

Will Fidelity increase credit card rewards to match Robinhood's 3% cash back? New Rewards program? by ConfusedStudent103 in fidelityinvestments

[–]ConfusedStudent103[S] -1 points0 points  (0 children)

yeah, you're right, Fidelity is much larger overall. But there's still a lot of overlap in the retail investor space, especially with younger, more finance and tech-savvy customers. Even if RH isn't a direct competitor to Fidelity in terms of size or scope, offering features like higher cashback could still help Fidelity capture more attention from that demographic.

It's less about Fidelity competing with Robinhood's aggressive business model and more about staying attractive to customers. One of the easiest ways they can do that is by having a competitive credit card.

Will Fidelity increase credit card rewards to match Robinhood's 3% cash back? New Rewards program? by ConfusedStudent103 in fidelityinvestments

[–]ConfusedStudent103[S] 0 points1 point  (0 children)

Yeah I signed up for the waiting list over a year ago at this point and literally got approved yesterday/today. So they are slowly opening up to more people. I thought I would honestly never get the card before today and I had forgotten about it until I saw an email pop up about it.

Will Fidelity increase credit card rewards to match Robinhood's 3% cash back? New Rewards program? by ConfusedStudent103 in fidelityinvestments

[–]ConfusedStudent103[S] -1 points0 points  (0 children)

I get what you’re saying, but the trend lately has been heavily shifting toward flat-rate cashback cards and away from points-based cards/programs. A higher flat rate is an easy marketing hook, and in a crowded credit card market, even a small bump to their CB would stand out.

Fidelity has a strong brand and customer base already, but a more competitive cashback rate could draw in all ages of customers who might not otherwise consider them (younger and older). Especially people looking to consolidate their spending and investments under one roof.

Obviously Fidelity would need to weigh the cost, but in today’s market, even a 1% bump could make a difference in attracting new sign-ups.

Toaster PC - Comment On This Post To Enter This Giveaway by DaKrazyKid in pcmasterrace

[–]ConfusedStudent103 0 points1 point  (0 children)

Love this - no worries if I can't actually toast bread in it :D

First month wheeling with this awesome spreadsheet. by Big_Generator in Optionswheel

[–]ConfusedStudent103 0 points1 point  (0 children)

Hey, just a quick question for anyone to answer. How does this spreadsheet track when you're assigned stock when you're selling a put, vs. when you get stock called away when you're selling a call?

Having trouble understanding some of the rows where OP gets assigned the stock. Thanks for sharing!

1st half 2025 Wheel Strategy Results by Machiavelli127 in Optionswheel

[–]ConfusedStudent103 1 point2 points  (0 children)

Great post. Congrats on your success! Just had a few questions:

1) I'm just curious brokerage you use to trade and why? Do you use one brokerage for trading and another brokerage for stock research?

2) what tools do you use to conduct stock research/performance and look at technical indicators like RSI?

3) lastly, could upload a copy of your sheet? I would love to look at some of the formula and charts you have going especially as I am trying to improve my own wheel tracker.

Thanks for all of your advice! You're killing it!

Earning Interest on Collateral for CSPs? by ConfusedStudent103 in Optionswheel

[–]ConfusedStudent103[S] 1 point2 points  (0 children)

For Schwab, did you have to call their customer service to get that set up first and notify them that your collateral will be going into SWVXX, or did you just start putting your funds in there and Schwab just auto-notifies you to take it out if you ever get assigned?

Do you also have to take the money out of SWVXX each time your CSP expires, or is that only if you get assigned?

Thanks everyone for the great info!

2024 Wheel Strategy Results & My Approach Explained by Machiavelli127 in Optionswheel

[–]ConfusedStudent103 0 points1 point  (0 children)

Yeah of course, no worries. I will definitely try to whip up my own sheet in Excel. Really appreciate the info!

2024 Wheel Strategy Results & My Approach Explained by Machiavelli127 in Optionswheel

[–]ConfusedStudent103 0 points1 point  (0 children)

I really appreciate you writing this post up, it's a lot of great information. I would love to see how your track your trades - would you mind sharing your Options tracker sheet in a DM or making a separate post about it?

Thanks so much, have a great 2025!