Fidelity Investment Rewards Visa Review | CreditShout

Fidelity Investment Rewards Visa Signature Card Review

By Kevin / January 12, 2016
Fidelity Investment Rewards Visa Signature Card Review

Fidelity® Rewards Visa Signature® Card Overview 

Fidelity Investment Rewards Visa Signature Card Review

CreditShout Rating

Annual Fee: $0

Credit Required: Excellent​

Rewards Program and Signup Offers*:

  • Unlimited 2% cash-back
  • Every net $1 spent equals 2 rewards points
  • No limits on reward points and no restrictive categories
  • Points will not expire
  • Your Fidelity® Rewards Visa Signature® Card is Digital Wallet-enabled for: Apple Pay; Samsung Pay; and Android Pay
  • Zero fraud liability
  • Signature travel and shopping offers
  • Visa Signature® Concierge

Intro APR

N/A

Intro Balance Transfer

N/A

Regular APR

14.24% Variable

New to Fidelity?: Start Here to Open an Account

Quick Verdict

Saving enough money for retirement can prove challenging. The Fidelity Investment Rewards Visa Signature Card makes this task a bit easier. Purchases made with this cash back card will earn 2% cash that is deposited directly in your Fidelity retirement, investment or 529 accounts.

The downside? You’ll need a Fidelity account and you will have to make a lot of purchases before you earn enough for an investment.

More...

What About the American Express Card?

Earlier this year, Fidelity replaced its issuer and servicer for its branded credit card. As part of the move, Fidelity no longer offers new American Express cards. This rewards Visa card replaced that American Express card - and offers identical cash back rewards.

For existing Fidelity AmEx cardholders, you will be able to keep your card. And it will continue to be serviced through FIA Card Services. So nothing changes for you - except you can enjoy the same 2% back on all purchases with a Visa as well now!

How the Rewards Program Works

With the Fidelity Investment Rewards, you will earn 2% cash back with every purhase you make. And we love cash back, since you can use it for any purpose under the sun. Including investing it for your future.

The program works by giving you 2 points for each charge you make.

The catch is you must earn at least 5,000 points, which equals $2,500 worth of charged purchases, to redeem your points for cash back. Once you reach this level, 1% of your points (or 2% of your purchases) are converted as a cash deposit into your Fidelity account.

This means that if you charged $2,500 to this card, you will have 5,000 points, and $50 will be deposited to your Fidelity account.

You can deposit your cash back rewards into these types of accounts at Fidelity:

  • Cash Management Account
  • Brokerage Account
  • Retirement Account (including, IRAs, Roth IRAs, and SEP IRAs)
  • Fidelity-managed 529 Plans

The card’s due date is at least 25 days after the closing of each billing cycle. You won’t be charged interest on any purchases if you pay off your balance at the end of each month.

Additional Key Features and Benefits

In addition to the 2x spending cash back rewards, a Fidelity Investment Rewards credit card offers these great benefits:

  • No limits on rewards
  • No annual fee
  • 24-hour customer service
  • Zero liability fraud protection and identity theft recovery service
  • Retail purchase protection for merchandise
  • Travel and emergency assistance, including car rental loss and damage insurance

Fees and Interest Rates

Charges and Fees

APR for Purchases

14.24%. This APR will vary with the market based on the Prime Rate.

APR for Balance Transfers

14.24%.

APR for Cash Advances

24.24%. This APR will vary with the market based on the Prime Rate.

Penalty APR

Not Applicable

Annual Fee

None

Balance Transfer Fee

Greater of $5 or 3% of the amount of each transfer.

Cash Advance Fee

Greater of $5 or 3% of the amount of each cash advance

Late Payment Fee

Up to $37.

Returned Payment

Up to $35.

Negatives

This card has very few downsides, but we do want to lay them out for your consideration:

  • Required to open a Fidelity account.
  • Need to spend a minimum of $2,500 before cash back deposits occur.

Conclusion

​Fidelity's Rewards Visa Signature cash back card is one of the best rewards cards on the market today. You earn a full 2% on your purchases as they are made, with no annual fee and a reasonable interest rate for financing purchases.

We also like that you are depositing your money directly with Fidelity. We consider Fidelity to be one of the most consumer friendly brokerages around. Working with them lets you take advantage of their Spartan low cost mutual funds or low fees to purchase individual stocks or ETFs. And while we do not generally provide investment advice, we do encourage you to investment as much as possible, and keep your costs as low as possible when doing so.

This is a great cash back rewards card to help you invest for your future, your retirement, or for college savings for your kids.

Leave a comment: