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Fidelity® Rewards Visa Signature® Card
Recommended credit score:
2 Points per $1 on every eligible net purchase
Earn 2% back on everything you buy
No annual fee
Lower ongoing APR than most rewards credit cards
Visa Signature benefits
Rewards are worth less if you redeem for travel, gift cards or other options
No welcome bonus
1% foreign transaction fee
The Bottom Line
The Fidelity Rewards Visa Signature Card earns 2% back on everything you buy with no annual fee. But to get full value for your rewards, you’ll need to deposit them into a Fidelity investment account.
No rewards cap or expiration
Visa Signature benefits such as purchase protection, roadside dispatch, travel and emergency assistance services, lost luggage reimbursement, and travel accident insurance
Visa Signature concierge access
Zero fraud liability
Minimum 2,500 points required for redemption
You can’t fund a new Fidelity account with your rewards — the account you connect to your card must be previously opened and funded
The Fidelity Rewards Visa Signature Card is a rewards credit card geared toward Fidelity investors. This card earns 2% rewards on every purchase you make when you deposit them into an eligible Fidelity investment account.
The Fidelity Rewards Visa Signature Card charges no annual fee.
You won’t find a welcome offer with the Fidelity Rewards Visa Signature Card, which is one of its biggest downsides. Many other cash back credit cards, including those with no annual fee, offer welcome bonuses worth several hundred dollars.
You’ll earn 2% back on each dollar you spend with Fidelity Rewards Visa Signature Card, as long as you redeem your rewards into an eligible Fidelity investment account. Eligible accounts include a Fidelity brokerage account, Fidelity Cash Management Account, Fidelity-managed 529 College Savings plan, Fidelity retirement account, Fidelity Go account, Fidelity Charitable Giving Account or a Fidelity HSA.
If you’re intimidated by the idea of opening a Fidelity investment account, don’t be. You can open a new account online, and Fidelity brokerage accounts come with $0 commission trades, no annual fee, and no hidden fees.
If you’re a Fidelity wealth management client and belong to Fidelity Rewards+, you can earn up to an additional 1% back with the card.
You won’t pay an annual fee with the Fidelity Rewards Visa Signature Card, but you will pay a foreign transaction fee of 1% when you use your card abroad. There’s a 3% balance transfer fee (minimum $5) — but this card doesn’t offer an introductory 0% APR on purchases or balance transfers, so it’s not the best option for consolidating debt anyway. Other common fees to watch out for include a late payment fee up to $40 and a returned payment fee up to $35.
There are few added benefits with this card beyond its 2% rewards rate. The benefits you do get are mostly due to the card’s Visa Signature status. Visa Signature benefits include purchase protection against damage or theft, roadside dispatch, travel and emergency assistance services, lost luggage reimbursement, travel accident insurance, 24-hour concierge access, and identity theft protection.
You also get standard emergency cash and card replacement, which can help you get a new card fast or access to cash if your card is lost or stolen.
Benefits of Fidelity Rewards Visa Signature Card
If you like flat rewards and invest with Fidelity already, signing up for the Fidelity Rewards Visa Signature makes a lot of sense. You’ll earn 2% back on every purchase when you move your rewards to an eligible Fidelity investment account, and you can even get up to an additional 1% back if you’re a Fidelity wealth management client who belongs to Fidelity Rewards+.
This card provides a great way to boost your investments as you use your card for regular spending. Since you’re investing your rewards instead of using them for gift cards, merchandise or travel, your rewards points also have the potential to grow and compound over time.
Drawbacks of Fidelity Rewards Visa Signature Card
The biggest downside of the Fidelity Rewards Visa Signature is the fact that rewards are only worth the full value if you redeem them into an eligible Fidelity account. Options include a Fidelity brokerage account, Fidelity® Cash Management Account, Fidelity®-managed 529 College Savings plan, Fidelity retirement account, Fidelity Go® account, Fidelity Charitable® Giving Account® or a Fidelity HSA®.
If you’re a Fidelity customer who wants to use rewards to increase your investments, this isn’t necessarily a downside. However, consumers who don’t invest with Fidelity should look at cards that offer 2% back with more flexible redemption options, such as the Citi® Double Cash Card or Wells Fargo Active Cash Card.
How to Use Fidelity Rewards Visa Signature Card
Since the Fidelity Rewards Visa Signature is a flat-rate rewards credit card, you can maximize its benefits by using it for all your everyday spending and bills. The 2% rewards rate is great on its own, but if you already have rewards credit cards in your wallet that earn more in specific bonus categories like dining or travel, consider using this card for all non-bonus spending to maximize every purchase you make.
Just remember to never spend more than you can afford to pay down each month. While the APR for this card is lower than average, revolving a balance at a variable APR of 13.99% can quickly wipe out any 2% rewards you earn.
When you’re ready to redeem (and have at least 2,500 points in your account) you can transfer rewards into one Fidelity account or up to five, but make sure to choose wisely. You can use your Fidelity rewards to save more for retirement over time, to pay for future health care expenses with a Fidelity HSA or to save for a child’s college education with a Fidelity-managed 529 College Savings plan. You can choose to redeem rewards for a cash deposit into your eligible account monthly, or make redemptions on your own when you choose.
Fidelity Rewards Visa Signature Card Compared to Other Cards
Is the Fidelity Rewards Visa Signature Card Right for You?
If you’re looking for a simple way to pad your investment portfolio, the Fidelity Rewards Visa Signature Card could be for you. Flat 2% back is a great rewards rate for any card, and can add up to considerable deposits into your Fidelity account over time — without the temptation to use them another way.
It can also make a good addition to your wallet if you have other rewards cards already. While you may earn 3x points or more in specific bonus categories already, a flat 2% rewards rate on every purchase can help ensure you maximize your everyday spending no matter where you buy.
Just make sure you consider the restrictions. This card’s rewards are a great way to invest a little extra cash, but there are other 2% back credit cards with more flexible redemption options — statement credits, gift cards and more — with no annual fee. And if you don’t already invest with Fidelity, consider whether it’s worth making the switch before you apply. Make sure to compare all the best rewards credit cards before you make a decision.
Frequently Asked Questions
What bank issues the Fidelity Rewards Visa Signature Card?
The Fidelity Rewards Visa Signature Card is issued by Elan Financial Services.
How much are Fidelity rewards points worth?
Fidelity rewards points are worth one cent each when you redeem to an eligible investment account.
Which Fidelity accounts can you move Fidelity rewards to?
You can redeem your rewards into a Fidelity brokerage account, Fidelity Cash Management Account, Fidelity-managed 529 College Savings plan, Fidelity retirement account, Fidelity Go account, Fidelity Charitable Giving Account or a Fidelity HSA.