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Fidelity® Rewards Visa Signature® Card Review

Fidelity® Rewards Visa Signature® Card Review

Rewards Rate
Unlimited 2% cash back on everyday purchases into your eligible Fidelity account
Bonus Offer
$100 bonus offer when you spend $1,000 within the first 90 days
Cash Back Details
No Rewards Points limits, expirations or restrictive categories
Edited by
Julie Sherrier
Reviewed by
Glen Luke Flanagan
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Fidelity® Rewards Visa Signature® Card best for?

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.

Fidelity® Rewards Visa Signature® Card overview

    • Earn unlimited 2% cash back into your eligible Fidelity account
    • No Reward Points limits, expirations or restrictive categories
    • Earn a $100 bonus when you spend $1,000 within the first 90 days
    • No annual fee
    • Named Kiplinger's Best Rewards Credit Card for Cash Back for Savers 2018
  • 24/7 access to the Visa Signature Concierge
  • Lost luggage reimbursement
  • Benefits when staying at a property in the Luxury Hotel Collection
  • Save up to 25% when renting a vehicle with Hertz
  • Save up to 15% when renting with Silvercar Car Rental
  • Purchase security
  • Roadside dispatch
  • Travel and emergency assistance services

Intro Purchase APR

N/A

Regular Purchase APR

16.24% variable

Intro BT APR

N/A

Regular BT APR

16.24% 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

Pros and cons

Pros

  • Flat-rate rewards program
  • Sign-up bonus
  • $0 annual fee
  • Low interest rate

Cons

  • Redemption value can vary
  • Charges a foreign transaction fee
  • Doesn’t offer an intro APR

What we like about the Fidelity® Rewards Visa Signature® Card

  • 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

    Receive 10,000 bonus points — which equals $100 cash back, when deposited into an eligible Fidelity account — after making at least $1,000 in eligible purchases within the first 90 days of account opening. 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 16.24% 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.

What to watch out for with the Fidelity® Rewards Visa Signature® Card

  • 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.

Alternate cashback card

Compare it with the Wells Fargo Active Cash® Card

| Disclosures
Wells Fargo Active Cash® Card
Wells Fargo Active Cash® Card
on Wells Fargo's secure site
0% intro APR for 15 months from account opening
17.99%, 22.99%, or 27.99% variable APR
$0
Earn unlimited 2% cash rewards on purchases
  • Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months
  • Earn unlimited 2% cash rewards on purchases
  • 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 17.99%, 22.99%, or 27.99% variable APR; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5
  • $0 annual fee
  • No categories to track or remember and cash rewards don't expire as long as your account remains open
  • Enjoy a premium collection of benefits at a selection of the world's most intriguing and prestigious hotel properties with Visa Signature Concierge
  • Get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card. (subject to a $25 deductible).
  • Select “Apply Now” to learn more about the product features, terms and conditions
660 850

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

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 17.99%, 22.99%, or 27.99% variable apr applies. You’ll also get a 0% intro APR for 15 months from account opening on qualifying balance transfers, after which a 17.99%, 22.99%, or 27.99% 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:

  • Use cash back to cover recent eligible purchases
  • Get a credit to a qualifying Wells Fargo credit card, checking account or mortgage
  • Withdraw cash in $20 increments (requires a Wells Fargo debit or ATM card)
  • Get gift cards from a variety of retailers

Compare the Fidelity® Rewards Visa Signature® Card to similar cards

Comparison of four different credit cards
Fidelity® Rewards Visa Signature® Card Wells Fargo Active Cash<sup>®</sup> Card Citi<sup>®</sup> Double Cash Card – 18 month BT offer Citi Custom Cash℠ Card
Fidelity® Rewards Visa Signature® Card Wells Fargo Active Cash® Card Citi® Double Cash Card – 18 month BT offer Citi Custom Cash℠ Card
Read Review
Apply Now
on Wells Fargo's secure site
Apply Now
on Citibank's secure site
Apply Now
on Citibank's secure site
Welcome Offer
Receive 10,000 bonus points — which equals $100 cash back, when deposited into an eligible Fidelity account — after making at least $1,000 in eligible purchases within the first 90 days of account opening. Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months For a limited time, earn $200 cash back after spending $1,500 on purchases in the first 6 months of account opening. 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
16.24% Variable 17.99%, 22.99%, or 27.99% variable APR 16.99% - 26.99% (Variable) 16.99% - 26.99% (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
16.24% variable 17.99%, 22.99%, or 27.99% variable APR 16.99% - 26.99% (Variable) 16.99% - 26.99% (Variable)
Card Details
Fidelity® Rewards Visa Signature® Card Wells Fargo Active Cash® Card Citi® Double Cash Card Citi Custom Cash℠ Card

Is the Fidelity® Rewards Visa Signature® Card right for you?

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.