dcsimg

Our credit card articles, reviews and ratings maintain strict editorial integrity; however we may be compensated when you click on or are approved for offers from our partners. How we make money.

Apply online for Fidelity® Rewards Visa Signature® Card
About Our Ratings
Credit Needed
Excellent

Fidelity® Rewards Visa Signature® Card Review

Pros & Cons

  • Long-term savings are simplified with this card that allows your cash-back rewards to be deposited directly into Fidelity® 401K or other investment accounts.
  • The flat 2 percent rewards earning rate is simple – no categories or caps to keep up with.
  • The card does charge a fee for foreign transactions, but at only 1 percent it's quite a bit lower than the typical 3 percent fee.
  • 2% is one of the highest flat earn rates, but you could earn more in specific categories using other no annual fee cards like Chase Freedom®.

Top Features

Cash Back on Gas
2%
Cash Back on Groceries
2%
Cash Back on Other
2%
Annual Fee
$0

Full Review

Amber Stubbs Managing Editor

Fidelity® Rewards Visa Signature® Card Essentials

Many cash back cards have similar redemption structures. It’s typical for points to be redeemed for statement credits, travel, and gift cards. The Fidelity® Rewards Visa Signature® Card is different — it breaks the mold of what you’d expect from a rewards credit card. And different is always appreciated. Fidelity® Rewards Visa Signature® Card doles out 2% cash back for every single purchase. You can make savings automatic with this card by depositing your cash back rewards into an eligible Fidelity® account like a 401K or 529. If ‘different’ is not your thing, don’t tune out yet. There are other redeeming options you’ll enjoy: get two points for every dollar spent which can be applied toward air travel, hotels, car rentals and gift certificates.

Overview of the best features:

  • No annual fee
  • $100 bonus offer after you spend $1,000 within the first 90 days.
  • Earn 2% cash back on every purchase
  • Earn 2 points for every dollar on retail purchases (points can be redeemed for air travel, gift certificates, cash, hotels and car rentals)
  • Deposit rewards into an eligible Fidelity account

What Our Editors Like Most About the Fidelity® Rewards Visa Signature® Card

Fidelity® gives cardholders two options for redeeming their rewards: automatically deposit them into an eligible Fidelity account as cash, or redeem them through the WorldPoints program for air travel, gift certificates, cash, car rentals or hotel stays. Since there’s no limit on the amount of rewards you can earn, the best way to use this card is for everyday purchases like gas, dining, groceries and monthly household expenses — if you don’t incur an additional fees for say, unpaid balances, you’ll see your points grow quickly. If you make $3,000 in purchases on a monthly basis, for example, you’ll get $60 cash back to deposit into your Fidelity® account. Eligible accounts include a Fidelity® Cash Management Account, a Fidelity-managed 529 account, retirement or brokerage account. Deposit all your rewards into one account or split them among up to five Fidelity® accounts. Once you use your points in a savings account compound interest will continue to grow your rewards. When funds are placed into an eligible investment or 529 college savings account, you’ll get tax-deferred benefits, too. The Fidelity® Rewards Visa Signature® Card has no annual fee, which is always a welcomed feature. Its foreign transaction fee is only 1% — lower than the industry standard of 3% — and the card is chip-enabled so you can use it at a variety of locations abroad without stress. 

Potential Downsides of the Fidelity® Rewards Visa Signature® Card

The most obvious drawback of the Fidelity® Rewards Visa Signature® Card is that it doesn’t offer the same level of flexibility as other cash back cards. Your two redemption options are a Fidelity® account or the WorldPoints program, which may not offer the most value for your spending. For example if you need 25,000 points for coach airfare, which has a maximum dollar value of $400, you’d have to spend at least $1,670 a month for the entire year to have enough rewards for a $400 coach ticket. Compare that to the sign-up bonuses other cards offer and you’ll see, Fidelity® cardholders have to put in a lot more effort to get their rewards. Consumers who aren’t fans of delayed gratification might detest the idea of depositing their money into a Fidelity® account. Clearly it’s smart to start saving for retirement as early as possible, however, some consumers like the flexibility of using their cash back rewards whenever and however they choose — rather than waiting until they’re 70 ½ to reap these benefits from points set aside in a retirement account. If you don’t already have an account with Fidelity®, your best option is a cash management account, which has no monthly maintenance fee and doesn’t require a minimum balance. Otherwise, you’re looking at commission and trading fees of $7.95 per trade that will eat into any rewards you get.

How the Fidelity® Rewards Visa Signature® Card Compares to Other Rewards Cards

Fidelity® Rewards Visa Signature® Card vs. Citi® Double Cash Card - 18 month BT offer

(Citi is a CardRatings.com advertiser)

The Citi® Double Cash Card – 18 month BT offer features 1% cash back when you make a purchase and another 1% cash back as you pay your balance. Neither card has an annual fee, but Citi®’s intro offer of 0 percent APR for 18 months on balance transfers could be a nice perk if you're looking to pay off a large purchase over time. Citi®’s redemption options are more flexible, too. Cardholders can redeem cash back for gift cards, checks or statement credits. If you want cash in your hand — or in your account — the Citi® Double Cash Card – 18 month BT offer is a better option.  

Fidelity® Rewards Visa Signature® Card vs. Chase Freedom®

Both cards have no annual fee, but Chase® Freedom gives 5% cash back (the equivalent of a $150 bonus) on up to $1,500 in gas and local transportation purchases when you sign up. Unlike the 2% cash back Fidelity® offers on every purchase, Chase® Freedom gives 1% cash back on purchases. Both cards offer similar benefits, including no annual fee, purchase and price protection, car rental insurance and zero liability. However, Chase® Freedom lets you redeem rewards through an account statement credit, electronic deposit into your savings or checking account, or for gift cards, travel and merchandise. Want more cash back for the life of your card? Then go with Fidelity®. If flexibility is more important, then Chase® Freedom is your card.

Who Should Get This Card?

You understand the importance of reaching financial goals like retirement by 65 or incurring less student debt. You also understand that financial milestones often take time and with patience and strategy you’re setting yourself up for long-term success. If you already have a Fidelity account and are looking for a no-fuss way to add to your investment or retirement savings, you should consider this card.

This page was last updated on February 13, 2019

This card compared to other cash back cards

Cash Back on Gas
2%
Unlimited 1.5% cash back
1%
Cash Back on Groceries
2%
Unlimited 1.5% cash back
2% at grocery stores
Cash Back on Other
2%
Unlimited 1.5% cash back
1%
Purchase Intro
APR:
N/A
APR:
0% Intro APR on Purchases
Period:
15 months
APR:
N/A
Regular APR
16.24% Variable
17.24 - 25.99% Variable 
16.74% - 25.74% (Variable) 
Rates and Fees
CardRatings.com Editorial Staff

Fidelity® Rewards Visa Signature® Card details

Balance Transfer Intro APR
N/A
Balance Transfer Intro Period
N/A
Purchase Intro
APR:
N/A
Regular APR
16.24% Variable
Annual Fee
$0

What Elan Financial Services for Fidelity Investments says about this card

  • Earn a $100 bonus when you spend $1,000 within the first 90 days
  • Earn unlimited 2% cash back into an eligible Fidelity account
  • Named Kiplinger's Best Rewards Credit Card for Cash Back for Savers 2018
  • No Annual Fee
  • No Rewards Points limits, expirations or restrictive categories

Credit Card Consumer Reviews:

  1. No reviews available for this card.   Be the first to review!

Write Consumer Reviews:





E-Mail will not be published









Highlighted offers
Currently available on the Fidelity® Rewards Visa Signature® Card
Earn a $100 bonus
When you spend $1,000 within the first 90 days

Start Here

Search. Compare. Apply.

Apply online for Chase Freedom Unlimited®

Chase Freedom Unlimited®

  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 17.24-25.99%. Balance transfer fee is 3% of the amount transferred, $5 minimum
  • Unlimited 1.5% cash back on every purchase - it's automatic
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • Free credit score, updated weekly with Credit Journey℠
  • No annual fee
Credit Needed:
Excellent, Good
Apply online for Capital One® Savor® Cash Rewards Credit Card

Capital One® Savor® Cash Rewards Credit Card

  • Earn a one-time $500 cash bonus after you spend $3000 on purchases within the first 3 months from account opening
  • Earn unlimited 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases
  • Receive a monthly statement credit for a Postmates Unlimited monthly membership through Dec. 2019 with the Capital One Savor Card
  • No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
  • No foreign transaction fees
  • Capital One cardholders get access to premium experiences in dining, entertainment and more
  • $0 intro annual fee for the first year, $95 after that
Credit Needed:
Excellent, Good