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You want rewards, but don’t want the hassle of dealing with different categories. You’ve got a Fidelity retirement account and would like to put a little more into your nest egg each month. Sound familiar? If you answered yes, you might find the Fidelity® Rewards Visa Signature® Card to be a perfect fit for your wallet.
However, if you’re not interested in putting your rewards into a Fidelity account, you might prefer a competing flat-rate card like the Wells Fargo Active Cash® Card. We’ll evaluate both cards below.
Intro Purchase APR
N/A
Regular Purchase APR
16.99% variable
Intro BT APR
N/A
Regular BT APR
16.99% Variable
Annual Fee
$0
Cash Advance Fee
Either 3% of the amount of each advance or $5 minimum, whichever is greater
Foreign Transaction Fee
Up to 1% of each foreign transaction amount
Balance Transfer Fee
$5 or 3% of the transfer amount, whichever is greater
Flat-rate rewards on every purchase
Earn unlimited 2% cash back on everyday purchases. For consumers who don’t want to have to worry about activating rotating categories or earning a higher rate on some purchases and a subpar one on others, a flat-rate rewards card like this one is a great choice.
There’s a minimum redemption amount of 2,500 points (worth $25 when redeemed to Fidelity accounts), and you can easily set up automatic redemptions to Fidelity accounts such as an IRA, HSA or college savings plan. In addition, other ways you can redeem points include travel, merchandise, gift cards and statement credits — but be aware that the value you’ll get per point is different than what you’ll get if you put your rewards into an eligible Fidelity account.
Chance to earn a sign-up bonus
None Spending about $334 per month can get you to that target.
No annual fee to carry the card
The Fidelity® Rewards Visa Signature® Card has a $0 annual fee, so all the rewards you earn are net money in your Fidelity account (as long as you don’t incur other fees or interest charges).
Low ongoing interest rate
At 16.99% variable, the Fidelity® Rewards Visa Signature® Card‘s APR is very reasonable — many rewards cards charge APRs upwards of 20%. However, we still recommend not carrying a balance and instead paying off your card in full every month so as to avoid incurring interest charges.
Must redeem to a Fidelity account for max value
Though this card is marketed as earning unlimited 2% cash back on everyday purchases, rewards are earned in the form of points. When you redeem points to an eligible Fidelity account (such as a Roth IRA, traditional IRA or 529 college savings plan), it’s true that the value you get shakes out to 2% cash back per $1 spent. But you’ll get a value of about half that if you choose other redemption options.
If you’re saving for your own retirement, or perhaps for your child’s college expenses, you might be happy to deposit your rewards into an eligible Fidelity account. But if that’s not how you’re looking to use your credit card rewards, consider a card like the Wells Fargo Active Cash® Card instead.
There's a foreign transaction fee
When traveling abroad, be prepared for a foreign transaction fee of up to 1% of each foreign transaction amount. While this isn’t as bad as the 3% foreign transaction fee some cards charge, you might still wish to leave this card at home and instead take one with no foreign transaction fee.
No introductory APR periods
If you’re looking to make a big purchase and pay it off over time without incurring interest charges, or transfer debt from another card and take advantage of an interest-free period to pay that debt down, this isn’t the card for you. Consider a different card with a 0% intro APR offer instead.
Like the Fidelity® Rewards Visa Signature® Card, cardholders with the Wells Fargo Active Cash® Card earn unlimited 2% cash rewards on purchases. There’s also a more lucrative sign-up bonus with the latter card, where you can earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months.
Unlike the Fidelity® Rewards Visa Signature® Card, the Wells Fargo Active Cash® Card offers intro APR periods on purchases and balance transfers. Enjoy a 0% intro APR for 15 months from account opening, after which a 19.24%, 24.24%, or 29.24% variable apr applies. You’ll also get a 0% intro APR for 15 months from account opening on qualifying balance transfers, after which a 19.24%, 24.24%, or 29.24% variable apr applies.
The Wells Fargo Active Cash® Card‘s annual fee is $0 and the foreign transaction fee is 3%. There’s a reasonable balance transfer fee of 3% intro for 120 days from account opening, then up to 5%; min: $5.
Though both are flat-rate cards, where consumers without a Fidelity account may prefer the Wells Fargo Active Cash® Card over the Fidelity® Rewards Visa Signature® Card is in the redemption options it offers:
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Fidelity® Rewards Visa Signature® Card | Wells Fargo Active Cash® Card | Citi® Double Cash Card – 18 month BT offer | Citi Custom Cash℠ Card |
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Read Review |
Apply Now on Wells Fargo's secure site
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Apply Now on Citibank's secure site
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Apply Now on Citibank's secure site
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Welcome Offer | |||
None | Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months | None | Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back. |
Rewards Rate | |||
Unlimited 2% cash back on everyday purchases | Earn unlimited 2% cash rewards on purchases | Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. | Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases. |
Annual Fee | |||
$0 | $0 | $0 | $0 |
Intro Balance Transfer APR | |||
N/A | 0% intro APR for 15 months from account opening on qualifying balance transfers | 0% for 18 months on Balance Transfers | 0% intro APR for 15 months on balance transfers |
Regular Balance Transfer APR | |||
16.99% Variable | 19.24%, 24.24%, or 29.24% variable APR | 18.24% - 28.24% (Variable) | 18.24% - 28.24% (Variable) |
Balance Transfer Fee | |||
$5 or 3% of the transfer amount, whichever is greater | 3% intro for 120 days from account opening, then up to 5%; min: $5 | There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening. | 5% of each balance transfer; $5 minimum. |
Intro Purchase APR | |||
N/A | 0% intro APR for 15 months from account opening | N/A | 0% intro APR for 15 months on purchases |
Regular APR | |||
16.99% variable | 19.24%, 24.24%, or 29.24% variable APR | 18.24% - 28.24% (Variable) | 18.24% - 28.24% (Variable) |
Card Details | |||
Fidelity® Rewards Visa Signature® Card | Wells Fargo Active Cash® Card | Citi® Double Cash Card | Citi Custom Cash℠ Card |
For consumers with an eligible Fidelity account, the Fidelity® Rewards Visa Signature® Card offers a great way to top off your savings. It earns a top-of-the-line rewards rate on every purchase — plus, you can even set up automatic redemptions to your account, so you’re not tempted to use your rewards for something else.
However, if you don’t have a Fidelity account and don’t intend to set one up, or you’re simply looking for more flexibility in redeeming your rewards, there are other cashback cards that earn the same flat rate and might suit you better. Consider options like the Wells Fargo Active Cash® Card and the Citi® Double Cash Card .
The information related to the Fidelity® Rewards Visa Signature® Card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.