Hello - currently i'm using Chase checking for all auto-debit for credit card spends, I'm planning to shift this to fidelity a/c using the SPAXX money-market a/c since they give interest at the current bond-market rate. Any feedback on this ? Fidelity mentioned they do not charge anything fort auto-debit or auto-credit .. do the CC companies (primarily Chase, Capital One, Citi, Amex) charge any amount if direct-debit is enabled from money market a/c (like Fidelity SPAXX) ? tia! #fidelity#spaxx#directdebit #investments #creditcard
Can’t suggest to use a debt card for anything these days. Just use a credit card with nice points bonus or cash back, and set the auto pay from your SPAXX or whatever ach acct you want. There are many more protections on a credit card than a debt card.
yes, dont use debit card .. question was regrading using fidelity SPAXX for auto-debit for credit card payments (instead of chase checking)
Credit card companies don't care / don't know. They just know whether they got their money. Once they do, they let you be.
Is it fdic insured upto 250? Why not for Goldman Marcus?
It is Fidelity can even insure to higher amounts if you talk with them.
can we use SPAXX account for auto-debit from 529 a/c ?
fyi, this is also feasible .. i just did this
I do this, everyone should do this
Yes your auto debit will pull from your cash/spaxx balance in your individual account via umd bank. Transactions take a day to post. Straightforward, great
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Ya, I do it- it is great. It is a nice perk that they reimburse ATM fees as well. Really nice to be able to use an ATM anywhere for free and get bullshit fees reimbursed. Have done it at strip club and casino where the fees are ridiculous and they cover it for you. Money markets are way better then any bank. If you have over $100k they also have a premium money market that pays great (it is at like 5.2% right now).