Help me decipher this Promo Offer

[policebox]

I received this offer for my Fidelity Rewards Visa Card to earn 2,000 bonus points ($20).

 

Either I'm reading this incorrectly, or this seems like an insanely terrible offer.

 

Here is how I'm interpreting the deal:

• Must do spending between November 1 and December 31, 2019
• Must spend $2,100 before you start earning bonus points
• You can earn up to 2,000 Bonus Points (redemptions are 100 points = $1, so $20 maximum cash back)
• You earn 20% Bonus Points per dollar spent (0.4 Bonus Points per $1)
• At this rate, you'd need to spend $7,100 ($2,100 + $5,000) to get the maximum bonus of 2,000 points ($5,000 * 0.4 points/$1 = 2,000 points)

 

Tell me I'm crazy and how.

 

 

Edit: I think I found my math error. Looks like after you spend $2,100, if you spend an additional $5,000 you'd get $20 cash back. Still, hardly worth stressing over.

Edited November 5, 2019 by policebox