Fidelity 2% 529 Rewards Card R.I.P.

Well I haven't received my official notice, but it's being reported that FIA has pulled the plug on the 2% Fidelity 529 Rewards Card - at least for new accounts. Hopefully, the card will remain open for existing accounts (like me), but something tells me the end is probably near for everyone.

This is very bad news for parents trying to accumulate funds for their childrens' college account. For people disciplined enough to pay off their credit card balance each month, the Fidelity 529 card provided a great tool for painlessly setting aside college savings. In the three plus years I've had the card, our family has added more than $4,000 to my daughter's college fund.

Apparently FIA has introduce a new Fidelity/Amex 529 card to replace the MasterCard. The new card pays a still decent 1.5% reward but, sorry, in my opinion, Amex just doesn't cut it when it comes to everday card use for things like groceries, city water bills, and the myriad other items I'm able to buy with the beloved 529 MasterCard.

We'll let you know as we learn more.

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