This card is not currently available here, but you can check out our Best credit cards of 2023 for additional options.

Fidelity® Rewards Visa Signature® Card Review

This card is different — it offers 2% cash back for every single purchase and allows you to deposit your rewards into an eligible Fidelity® account like a 401K or 529 College Savings Accounts Rewards can also be applied to air travel, gift certificates and more.
author Amber Stubbs

Fidelity® Rewards Visa Signature® Card

Fidelity® Rewards Visa Signature® Card
Our Rating:   
Excellent

CardRatings Editor's Analysis: 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.
  • There's a 1% foreign transaction fee to account for.
Terms and Limitations Apply.

CardName 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 CardName is different — it breaks the mold of what you’d expect from a rewards credit card. And different is always appreciated. The CardName 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

Top Features

 Cash Back on Gas
2% Cash (See complete terms)
 Cash Back on Groceries
2% Cash (See complete terms)
 Cash Back on Other
2% Cash (See complete terms)

What Our Editors Like Most About the CardName

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 the CardName 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 CardName has no annual fee, which is always a welcomed feature. It does charge a 1% foreign transaction fee, which is lower than the industry standard of 3%, but still not ideal. Lastly, the card is chip-enabled so you can use it at a variety of locations abroad without stress. 

Potential Downsides of the CardName

The most obvious drawback of the CardName 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 CardName Compares to Other Rewards Cards

CardName vs. CardName

discontinued

(Citi is a CardRatings.com advertiser)

The Citi® Double Cash Card features 1% cash back when you make a purchase and another 1% cash back as you pay your balance (at least the minimum amount due, on time). Neither card has an annual fee, but Citi®’s intro offer of 0% APR for 18 months on balance transfers could be a nice perk if you're looking to pay off an existing balance from another card (after the intro period, expect an APR of RegAPR). 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.  

Who Should Get This Card?

If you value financial goals like retirement by 65 or incurring less student debt and also understand that financial milestones often take time and patience and strategy to set yourself up for long-term success, the CardName could be right for you. 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.

Fidelity® Rewards Visa Signature® Card Compared to Other Cash back Cards

Apply online for Fidelity® Rewards Visa Signature® Card
Fidelity® Rewards Visa Signature® Card
Apply online for Chase Freedom Unlimited®
Cash Back on Gas
2% Cash (See complete terms) 
Cash Back on Gas
Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments. 1% cash back on eligible purchases right away. 2% - 10% cash back at select merchants. 
Cash Back on Gas
3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 
Cash Back on Gas
1.5% cash back on all other purchases. 
Cash Back on Gas
1% when you buy plus 1% as you pay 
Cash Back on Groceries
2% Cash (See complete terms) 
Cash Back on Groceries
Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments. 1% cash back on eligible purchases right away. 2% - 10% cash back at select merchants. 
Cash Back on Groceries
6% at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) 
Cash Back on Groceries
1.5% cash back on all other purchases. 
Cash Back on Groceries
1% when you buy plus 1% as you pay 
Cash Back on other
2% Cash (See complete terms) 
Cash Back on other
Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments. 1% cash back on eligible purchases right away. 2% - 10% cash back at select merchants. 
Cash Back on other
1% Cash Back on other purchases. 
Cash Back on other
1.5% cash back on all other purchases. 
Cash Back on other
1% when you buy plus 1% as you pay 
Apply Now
Petal credit cards are issued by WebBank, Member FDIC
Apply Now
Terms and Limitations Apply

Disclaimer: The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.

This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any such company. CardRatings.com does not review every company or every offer available on the market.

top