That card needs the rt2870sta driver, according to this: link
. I have the same problem on my box because the system automatically also loads in the rt2800usb driver, which conflicts.
and look for rt2800usb and friends. If they're present they need to go:
sudo rmmod rt2800usb && sudo rmmod rt2x00usb && sudo rmmod rt2x00lib
If rt2870sta isn't loaded, then load it
sudo modprobe rt2870sta
If you get an 'error, doesn't exist' message then you will either need to build or otherwise obtain the drivers; an answer should be around on the Fedora forums for an rpm specific solution.
In any event, I have the same symptoms as you with a similar device on a default install (can see networks but can't connect), and using the staging driver solves the problem. Hope that helps get you started.
If it does work, you can make the solution permanent by adding rt2800usb, rt2x00usb and rt2x00lib to /etc/modprobe.d/blacklist.conf, you may also have to add rt2870sta to your /etc/modules file (or equivalents in Fedora).