Fidelity Rewards Visa Signature Card Review 2024

• Fidelity® Rewards Visa Signature® Card Introduction
• Fidelity® Rewards Visa Signature® Card Quick Facts
• Fidelity Rewards Visa Signature Credit Card Rewards
• Maximize Fidelity® Rewards Visa Signature® Rewards
• Other Fidelity Rewards Visa Signature Credit Card Benefits
• Fine Print
• How the Fidelity Rewards Visa Signature Credit Card Stacks Up
• Is the Fidelity Rewards Visa Signature Credit Card for You?
• Methodology

The Fidelity® Rewards Visa Signature® Credit Card* is a fantastic option for people who want a simple way to earn cash back on all credit card spending and have or plan to have an account with Fidelity. The 2% cash back on every eligible net purchase earning rate is among the best flat-rate rewards programs you’ll find with no annual fee or limit on earnings.

Earning on the card is straightforward: Every dollar spent earns 2% cash back on every eligible net purchase when redeemed as a direct deposit into your qualifying Fidelity account. What’s unusual about the redemption options with this card is that you can deposit those earnings into nearly any type of Fidelity account, including retirement savings accounts like a 401(k), 529 plan or an HSA. The one caveat here is you must open a Fidelity account, if you don’t already have one, to get the best value for your earnings.

With or without a Fidelity account, you can redeem points toward travel, merchandise, gift cards or a statement credit. However, these options come with a lower redemption value.

• Earn 2% cash back on every eligible net purchase
• $0 annual fee
• No liability for unauthorized charges
• Lost luggage reimbursement
• Travel accident insurance
• Roadside dispatch

Earning Rewards

This card earns 2 points per dollar on all purchases. When redeemed as a deposit into a qualifying Fidelity account this is equivalent to 2% cash back on every eligible net purchase. There are no spending limits or other restrictions on reward earnings.

Redeeming Rewards

You can redeem points by direct deposit into an eligible Fidelity account for 2% cash back on every eligible net purchase in any amount at any time.

Eligible Fidelity accounts include brokerage and Cash Management accounts as well as Fidelity IRAs, HSAs, Charitable Giving accounts, and the 529 College Savings Plan account. The Fidelity Cash Management Account is an alternative to a traditional checking account. It’s FDIC-insured and offers ATM fee reimbursement worldwide.

You can also redeem points for travel or merchandise, gift cards or statement credits, but your points will be worth less when you use these redemption methods. Because these redemptions aren’t as valuable, it’s best to set up redemption to a Fidelity account to ensure you get the full 2% value on your rewards.

Rewards Potential

The flat 2% cash back on every eligible net purchase of the Fidelity® Rewards Visa Signature® Credit Card* makes calculating potential rewards easy. Forbes Advisor uses data from various government agencies to determine baseline income and spending averages across various categories. The 70th percentile of wage earners brings in $118,438 annually and has $39,337 in annual expenses that can reasonably be charged to credit cards.

Fidelity® Rewards Visa Signature® Credit Card* Rewards Potential

Category	Earning Rate	Estimated Annual Spend	Estimated Annual Earnings
All purchases	2%	$39,337	$786.74

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Related: Best Rewards Credit Cards

Since the Fidelity Rewards Visa Signature Card is a high flat-rate card, you can’t do much better if you’re looking for a single credit card spending strategy.

As a Visa Signature card, you’ll get access to benefits including:

• Travel and emergency assistance services. Access to help with finding local emergency services.
• Lost luggage reimbursement. Get reimbursed for lost or stolen luggage if your carrier was responsible.
• Travel accident insurance. Travel purchased with this card automatically generates a $250,000 life insurance benefit.
• Roadside dispatch. Get help finding local roadside assistance.
• Emergency cash and card replacement. If you lose your card, Visa will quickly get you a replacement and/or help you get emergency cash at a convenient location.
• ID Navigator by Norton LifeLock. Get complimentary access to this ID theft protection service.

Interest Rates

• APR: 19.24% variable
• Purchase intro APR: N/A
• Balance transfer intro APR: N/A

Fees

• Annual fee: $0
• Balance transfer fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
• Foreign purchase transaction fee: None

Fidelity® Rewards Visa Signature® Credit Card* vs. Citi Double Cash® Card

The Fidelity® Rewards Visa Signature® Credit Card* earns the same flat-rate 2% cash back as the Citi Double Cash® Card (which earns 1% when you buy and 1% when you pay for those purchases). While both cards are simple to use from an earnings and redemption standpoint, the Citi Double Cash card doesn’t require a Fidelity account and rewards can be redeemed as a statement credit. It also offers a 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% - 29.24%, based on creditworthiness. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5), but there are better cards for a balance transfer.

The Fidelity card, however, offers some travel protections through its Visa Signature status that the Citi Double Cash, which runs on the Mastercard network, does not. The Citi Double Cash also charges foreign transaction fees, so it’s not a good choice if you travel abroad.

Fidelity® Rewards Visa Signature® Credit Card* vs. Alliant Cashback Visa® Signature Credit Card*

The Alliant Cashback Visa® Signature Credit Card* can earn 2.5% cash back on up to $10,000 in monthly spending and comes with an annual fee of $0. You’ll need to meet a few requirements though. First, you’ll need to join Alliant Credit Union before you can get this card. Then to qualify for the full 2.5% earnings rate, you’ll need to open an Alliant High-Rate Checking Account, opt in to electronic statements, receive at least one direct deposit into your account per month and maintain a balance of at least $1,000. In months that these criteria aren’t met, the card earns a flat 1.5% instead.

Fidelity® Rewards Visa Signature® Credit Card* vs. Capital One SavorOne Cash Rewards Credit Card

The $0-annual-fee Capital One SavorOne Cash Rewards Credit Card (rates & fees) offers cardholders the ability to earn 3% cash back on dining, entertainment, popular streaming services and grocery stores (excluding superstores like Walmart® and Target®), 5% cash back on hotels and rental cars booked through Capital One Travel, 8% cash back on Capital One Entertainment purchases, and 1% on all other purchases. If you primarily spend money on eating and going out or groceries, the SavorOne card will likely net greater rewards than the Fidelity® Rewards Visa Signature® Credit Card*. On the other hand, if your spending is spread across many categories, the flat 2% Fidelity rate may yield better results overall.

Another option? Consider pairing the two cards. Use the Capital One SavorOne card for dining and entertainment spending and use the Fidelity® Rewards Visa Signature® Credit Card* for all other purchases. This can help you maximize your return on every dollar spent.

Related: Best Credit Cards of 2024

The Fidelity® Rewards Visa Signature® Credit Card* is ideal for people who want to earn cash back and don’t want to track spending categories. The simplicity of this card is a major selling point, and the ability to redeem rewards into a retirement or other savings account can be a boon for those who are looking for an easy way to increase their savings.

But be aware there are other cards on the market with a similar profile that don’t require you to open a separate account to get the maximum value of your rewards.

Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors including:

• Annual fees
• Welcome bonus offers
• Ongoing earning rates
• Value of individual points or miles
• Included travel or merchant credits
• Additional cardholder benefits

Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.

Read more: How Forbes Advisor Rates Credit Cards