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Fidelity® Rewards Visa Signature® Card review
Last updated:
No annual fee and unlimited cash back on all purchases.
- Get this card if you want to earn unlimited cash back on everything you buy.
- Pick something else if you want higher cash back on specific categories, or if you want an intro APR period.
- Apply with a good to excellent credit score of 670 or higher.
Up to 2x
Miles
$0
Annual fee
13.99%
Purchase APR (variable)
670
Recommended credit score
Details
| Product Name | Fidelity® Rewards Visa Signature® Card |
|---|---|
| Card type | Visa |
| Annual fee | $0 |
| Purchase APR | 13.99% variable |
| Balance transfer APR | 13.99% variable |
| Balance transfer fee | $5 or 3% of the transaction, whichever is greater |
| Cash advance rate | 23.99% variable |
| Cash advance fee | $5 or 3% of the cash advance amount, whichever is greater |
| Foreign transaction fee | 1% of the transaction value |
| Interest free period | Up to 30 days |
| Late payment fee | Up to $39 |
| Returned payment fee | Up to $35 |
Expert review
Review by
Kliment Dukovski
kliment.dukovski@findercrew.comKliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.
Expert review
The Fidelity® Rewards Visa Signature® Card can be a solid choice if you’re an existing Fidelity customer. Fidelity allows you to deposit all your earnings into your eligible Fidelity account.
Travel perks like 24/7 Visa Signature concierge service and travel accident insurance or lost luggage reimbursement are also included with the card — but be mindful of the foreign transaction fee.
How to apply for the Fidelity® Rewards Visa Signature® Card
- Go to the Fidelity website and find the Fidelity® Rewards Visa Signature® Card. Click Apply now.
- Log in to your account and fill out the application form.
- Review your application and submit.
How long will it take to get my Fidelity® Rewards Visa Signature® Card?
You should get a decision within minutes. In some cases, it may take up to 10 business days if additional information is required.
Upon approval, your card and any welcome materials should arrive within seven to 10 business days.
The perks
-
Reward points.
Earn unlimited 2x points on all purchases. Redeem your points — worth one cent each — for cash deposits in up to five Fidelity accounts. You can also redeem your points for travel, merchandise, gift cards and statement credit. The value of points may differ for certain redemption options.
-
Link to your Fidelity accounts.
Deposit your rewards into one Fidelity account or divide them between accounts. Eligible Fidelity accounts include Brokerage, Fidelity Cash Management, Fidelity-managed 529 College Savings plan, Retirement, Fidelity Go, Fidelity Charitable Giving and Fidelity HSA.
-
No annual fee.
Enjoy the card and its benefits without paying an annual fee.
How much cashback rewards can I earn with the Fidelity® Rewards Visa Signature® Card?
| Where you spend: | The amount you spend: | Cash back earned: |
|---|---|---|
| Dining | $2,500 | $50 |
| Gas | $2,000 | $40 |
| Entertainment | $1,500 | $30 |
| Groceries | $3,000 | $60 |
| Everything else | $6,000 | $120 |
| Total | $15,000 | $300 |
Suppose you spend around $1,250 per month with this card. For $15,000 in annual spending, you would earn $300 in cash rewards.
You’ll also like …
-
No penalty APR.
For any late payments you make, you’ll only pay a fee of up to $39. There’s no penalty APR with this card. -
Digital wallet.
You can use ApplePay, SamsungPay, Google Pay and Microsoft Wallet to simplify your credit card payments. -
Security features.
The card comes with a hard-to-counterfeit EMV chip. You also get zero fraud liability and purchase security. -
Travel benefits.
Enjoy 24/7 Visa Signature concierge service and Visa Signature privileges, car rental collision damage waiver, emergency cash and card replacement, travel and emergency assistance services, lost luggage reimbursement, travel accident insurance and roadside dispatch.
What to watch out for
-
Foreign transaction fee.
Despite having several travel features, the card may not be a solid traveling companion for trips abroad — you’ll pay fee of 1% of each transaction you make outside the US.
-
No intro APR period.
Once you get the card, you’ll start with a variable APR of 13.99%. This is an average APR, but if you’re looking to make a large purchase or move your balance from another account with a higher APR, it may not be the right choice. Look for a 0% intro APR credit card if that’s what you need.
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What should I know before I apply?
To apply for the card, you must be a US citizen and at least 18 years old. You also must have a Fidelity account to apply online. But don’t worry if you don’t — you can easily create one.
What credit score do I need?
Apply with a good to excellent credit score of 670 or higher.
Fidelity® Rewards Visa Signature® Card reviews and complaints
Customers who are happy with the card love the cashback rate they get on their purchases. They also claim they received a high credit line.
Those who had issues with the card mostly complain about fraudulent charges not being handled well by the card issuer. Some customers also claim they never received the points they redeemed to their retirement account.
As of October 2020, Elan Financial Service, the issuer of this card, is not accredited or rated by the Better Business Bureau yet. To get the most out of this card, keep a close eye on your transactions and report any suspicious behavior early on. Also, keep record of your rewards redemptions.
I got the card. Now what?
- Download Fidelity Investments mobile app. Use the app to pay your bill or set up automatic payments. You can also call a customer service representative through the app.
- Enroll in digital wallet. Depending on your mobile device, you can enroll in ApplePay, SamsungPay, Google Pay and Microsoft Wallet and use your phone to make credit card payments.
- Avoid interest and fees. Your due date is at least 30 days after the close of each billing cycle. Try to pay your balance by then to avoid paying a late payment fee of up to $39 and a variable APR.
- Customer service. Call 888-551-5144 if you have any questions and a customer service representative will assist you.
How do I redeem rewards from the Fidelity® Rewards Visa Signature® Card?
You can choose between automatic cash deposit redemption to your Fidelity accounts every month — with a minimum of 5,000 points required — or you can accrue points to redeem at a later date.
Call 888-551-5144 if you need help setting up the automatic redemption. If you prefer to manage your rewards yourself, log in to your Fidelity online account and select Manage reward points.
Eligible Fidelity accounts for rewards deposits are:
- Traditional IRA
- Roth IRA
- Rollover IRA
- SEP IRA
- Fidelity Charitable Giving Account
- Fidelity HSA
- Fidelity-managed 529 College Savings Plan
Call 800-343-3548 for more information on which accounts are eligible to receive your rewards.
You can also deposit your points into your friend’s or family member’s Fidelity accounts with the exception of the Fidelity Charitable Giving Account.
Bottom line
If you already own a Fidelity account, the Fidelity® Rewards Visa Signature® Card could be a great addition to your wallet. You’ll earn unlimited cash back on all purchases and you can redeem your rewards as a cash deposit to your Fidelity accounts.
To compare your options, check out other cashback credit cards.