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American Express, Fidelity to Issue Debit Card

CONSUMER NEWS / YOUR MONEY / BRIEFLY

May 05, 1999| Bloomberg News

American Express Co. has teamed up with Fidelity Investments on a new charge card that will be tied to customers' brokerage accounts. The new American Express Fidelity Gold Card, which will be available in June, will directly debit purchases and cash withdrawals from customers' brokerage accounts and provide one consolidated statement. The card's $75 annual fee will be waived for those with a minimum of $30,000 in their Fidelity cash-management accounts. The two companies will jointly introduce a platinum card in July. That card will carry a $300 annual fee, with Fidelity customers getting $75 of it waived. Fidelity already offers Visa cards to brokerage customers.

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