Invest Your Rewards With the Fidelity Rewards Visa Signature Card

By Christina Majaski. Last updated 7 June 2016. 6 comments

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When it comes to cash rewards, your options are usually credit cards that award specific types of purchases like gas or travel, or those that award a lower flat-rate of 1% or 1.5% cash back. The Fidelity® Rewards Visa Signature® Card, however, awards one of the highest flat-rate cash back among any rewards credit card, without the burden of special spending categories. Further, if you need a little help making sure you save for your retirement or your child’s college education, using this card can help you build those accounts. If you’re looking for a strong cash back rewards credit card that offers an opportunity for saving and investing your rewards, this card is worth considering.

Why We Like This Card

  • 2% cash back on all purchases
  • Invest rewards in multiple accounts

How This Card Works

This card awards 2 points for every dollar. There is no limit to the number of points you can earn, and points do not expire. To receive a deposit you must link your eligible Fidelity account to your card. You can deposit your points into one account or divide them among several, up to five eligible accounts including a brokerage account, Fidelity Cash Manage Account, Fidelity-managed 529 College Savings plan, and retirement accounts. There is no annual fee for this card.

Other Benefits

Easily invest your rewards. For many consumers, saving and planning for the future can be difficult and is often forgotten about. This card allows you to invest the rewards you earn from your purchases into different investment accounts, including retirement accounts and college savings accounts, quickly and easily.

Mobile purchases. This card is Digital Wallet-enabled for Apply Pay, Samsung Pay, and Android Pay, making it easier to use your card with your mobile phone.

Visa Signature Benefits. Enjoy all the benefits Visa Signature cards offer, including concierge and specific offers.

Costs

  • $0 Annual Fee
  • 14.24% variable APR for purchases and balance transfers
  • 3% Balance Transfer Fee (minimum $5)
  • 1% Foreign Transaction Fee

Considerations

No sign-up bonus or intro APR offer. Most rewards credit cards offer new cardholders a sign-up bonus if you meet a certain spending requirement when you first open the account. If not, there is often a 0% introductory APR on purchases and balance transfers that can help new cardholders save money on interest payments. This card, however, does not offer either type of promotion for new cardholders. If you plan to make a large purchase right away, you can earn a bonus worth hundreds with cards that offer sign-up bonuses and possibly avoid paying interest for a limited time. (See also: Best Credit Cards that Offer Sign-Up Cash Bonuses)

Limited redemption opportunities. Although the rewards program is a great way to save and plan for the future, it doesn’t provide other ways to redeem your points. If you prefer to redeem rewards for cash, gift cards, or merchandise, without first depositing them into a Fidelity account, you might be better off with a card that offers more options for redemption. (See also: 5 Best Credit Cards for Cash Back)

Foreign transaction fee. Although it is one of the lowest foreign transaction fees, if you frequently travel abroad or make foreign purchases with the card, the 1% will add up. For foreign transactions, it’s best to use a card that has no foreign transaction fee at all. (See also: Credit Cards with No Foreign Transaction Fees)

Competitors

Citi® Double Cash Card - 18 month BT offer: The Double Cash Card from our partner Citi offers 1% cash back when you make a purchase, and 1% cash back when you pay off those purchases. This card offers similar rewards to the Fidelity Rewards card but allows redemption via direct deposit, statement balance, or check. There is no annual fee.

Capital One® Quicksilver® Cash Rewards Credit Card: The Quicksilver Cash Rewards card offers unlimited 1.5% cash back. Rewards don't expire and there is no minimum redemption amount. In addition, there are no foreign transaction fees. Finally, get $100 cash after you spend $500 on purchases within the first 3 months of account opening.

Who This Card Is Best For

This card is best for Fidelity account holders who want an easy way to contribute to their investment accounts. It provides an attractive cash back rate and the rewards structure is simple and straightforward. 

Click here to learn more and apply for the Fidelity® Rewards Visa Signature® Card today!


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Guest's picture
Eph

I have this FIA card and take my 2% as cash (sent as a check) once I hit 25000 points. It's not easy to set up, but it's doable.

Guest's picture
MarioGreat

Hmm, it seems there's a stipulation that the account requires you to have direct deposit into the eligible account in order to get 2%. So the best way to probably set this up is to open a 'Cash Management' account, direct deposit into that, then you pretty much have to use that as your primary bank account.

The alternative, the Visa one, requires you to spend $15K first before you get 2%.

Honestly, the rewards is very attractive and it seems worth it. I'll have to look more into it, though.

Guest's picture
Eph

You can get 2% cash back with this very card once you hit 25000 points. At 20000 points, it's 1.6%. You get 2points for every dollar spent. So, once you spend $12,500, you can get a check for $250. No limits. I do it all the time.

Guest's picture

This is an interesting credit card that kind of helps putting money in your brokerage account on auto pilot. I have a Fidelity account and will check this out as an option.

Guest's picture
Oscar Castillo

I remember trying to apply for this a couple of years ago and getting denied. Now that I do have it, it is my primary credit card and intend on using it as long as humanly possible.

Guest's picture
Eph

I have had no problem with customer service. Love this card.