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updated: April 4, 2024Having so many rewards credit cards from which to choose can seem overwhelming. However, some credit cards offer special rewards that make them stand out among the crowd, and the Fidelity Rewards Visa Signature Credit Card is one. Let’s dive in to see how this card stacks up against the competition, whom it suits best, and how its rewards work.
The excellent Fidelity Rewards Visa Signature Card is designed to help cardholders build long-term wealth. It’s somewhat unusual in how it treats rewards. While most cards tend to focus on everyday discounts that can be used right away at a grocery store or for online shopping, Fidelity cardholders can use their points to bolster their investment accounts.
The Fidelity Rewards Visa Signature Card is a good choice for those who have Fidelity investment accounts and want to earn 2% back on every dollar spent on eligible purchases. Because there’s no cap on the number of points you can carry—and they won’t expire as long as the account remains open—it’s easy to earn rewards that you can use to help build long-term wealth. The card has a $0 annual fee and a 13.99% regular annual percentage rate (APR), which makes it a well-rounded option. However, if your credit score falls below “excellent” (720 or higher), you may not qualify for it.
The card’s rewards are fairly straightforward, but they’re meant to help customers build wealth rather than redeem them for gift cards or statement credits. Here’s how it works.
The Fidelity Rewards Visa Signature Card gives you two points for every dollar spent, which amounts to 2% cash back. Unlike some other cards, the 2% cash back is flat across all categories, and there’s no cap on how many points you can earn. There are certain purchases that cannot earn points, though, including:
While other cards let you redeem points for cash back or gift cards, the Fidelity Rewards Visa Signature Card allows you to deposit your points into other Fidelity-owned accounts, including:
This makes the card ideal for those who want to build wealth for future use, such as in retirement or to pay for a child’s college tuition.
Caveat: The 2% cash back applies only if the points are deposited in an eligible Fidelity account. Points can also be used for special offers on travel, merchandise, gift cards, and statement credit, but they will be worth less when used this way.
The Fidelity Rewards Visa Signature Card has several perks beyond the basic rewards described above. These perks include Visa Signature benefits, the ability to redeem points to family or friends’ Fidelity accounts, and travel discounts.
Because Fidelity’s card is a Visa Signature, you’ll enjoy certain benefits only available to holders of this card type. These include numerous travel and lifestyle benefits, such as:
While you can redeem your points to your own Fidelity account, you can also give them to a friend or family member’s eligible account. For example, a parent or grandparent could redeem their rewards to their child’s Fidelity 529 college savings account.
Owning a Fidelity Rewards Visa Signature Card gets you special offers on travel. You can get discounts on hotel stays from the Hotel and Resort Connection, as well as discounts on Audi rental cars through Silvercar Car Rental. This discount means you could upgrade your next trip and enjoy exclusive perks without breaking your budget. Additionally, cardholders will be able to access travel and emergency services and be reimbursed for lost luggage if their items are misplaced en route to their destination.
Although the Fidelity Rewards Visa Signature Card is a good option for current Fidelity customers with excellent credit, there are some aspects that could be better. The following are a few areas where the Fidelity Rewards Visa Signature Card could improve in order to be more competitive with other rewards cards.