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Fidelity Rewards Visa Signature Card

Dayana Yochim

Written by Dayana Yochim
Fact-checked by Andrea Coombes
Edited by Carolyn Kimball

February 01, 2024

Why trust us? Investor.com has no financial relationship with any of the credit card providers whose products we analyze and review. Our opinions are based solely on data and our own extensive independent research — that means unbiased guidance for consumers. Rewards cards in our cashback credit card calculator are listed in descending order according to how much money they pay out annually based on the inputs.

The Fidelity Rewards Visa is best for those with long-term savings goals, not short-term cash needs. Every swipe gives you the opportunity to nudge your investment account balances higher, as long as you redeem the cash back in a Fidelity-owned account.

The Fidelity Rewards Visa Signature Card is “less than” in many ways when compared to other flat-rate, 2% cashback rewards cards. But I’m willing to overlook some of its shortcomings (e.g., lack of sign-up goodies, high approval standards, limited redemption options) because this card offers something more lasting than cash back: long-term value.

The Fidelity Rewards Visa pays 2% cash back (unlimited) on all purchases, as long as rewards are deposited into a Fidelity-owned retirement, college, HSA, charitable giving, or other type of account. (Other redemption options are worth less.) I like that its reward structure encourages cardholders to favor future financial needs over immediate cash gratification. But if you’re already a disciplined saver — or hold your assets at another brokerage — better terms are available with other flat-rate rewards cards.

The basics: Earn unlimited 2% cash back on everyday spending when points are redeemed for a deposit into an eligible Fidelity account. Earn up to an additional 1% as a participant in the Fidelity Rewards+ program for Wealth Management clients.

Credit Card Calculator
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dining Dining
theater_comedy Entertainment
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local_pharmacy Pharmacy
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Fidelity Rewards Visa Signature Card

Fidelity Rewards Visa Signature Card Logo
Cashback Per Year
$...
Annual Fee
$0
Welcome Bonus
N/A
Want to compare more cards? Use our full calculator.

Fidelity Rewards Visa Signature Card pros and cons

thumb_up_off_alt Pros

  • Rewards encourage saving for the future
  • Awards can be deposited into loved ones’ Fidelity accounts
  • Rate boost available for qualified Fidelity clients
  • Includes Visa Signature benefits
  • No foreign transaction fee

thumb_down_off_alt Cons

  • No welcome bonus or intro 0% APR on offer
  • Requires a Fidelity-owned account to earn top rate
  • Reward redemption minimums apply
  • Lower cash back rates on other redemption options
  • Rate boost requires $250K minimum savings balance
  • Requires excellent credit for approval

Fidelity Rewards Visa Signature Card cashback rewards spending categories

The following table shows the cashback rewards rate per $1 spent in the six most common spending categories. The “Bonus Rate” refers to the amount you can earn in excess of the card’s standard rewards rate.

Some cashback cards limit the spending amount eligible for the bonus rate (aka the “Spend Cap”). Once you hit that cap (e.g., $1,500 spending in a particular category during a defined time period), the rewards rate on future purchases in that category reverts to the lower “Default Rate.”

Category Default Rate Bonus Rate Bonus Spend Cap Bonus Spend Period (Months)
Gas 2.00% - - -
Travel 2.00% - - -
Dining 2.00% - - -
Entertainment 2.00% - - -
Pharmacy 2.00% - - -
Groceries 2.00% - - -
Other Purchases 2.00% - - -

Note: The 2% unlimited rewards rate applies only to cash redeemed as a deposit to a qualifying Fidelity account. Eligible accounts include most nonretirement accounts (e.g. Fidelity brokerage account) as well as Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, Fidelity Charitable Giving Accounts, Fidelity HSAs, and Fidelity-managed 529 College Savings Plan accounts. Fidelity states that the redemption value is different if you choose to redeem your Points for other rewards such as travel options, merchandise, gift cards, and/or statement credit.

Additional cashback rates for qualified cardholders: Fidelity Rewards+ Wealth Management clients are eligible to earn cashback boosters of 0.25%-1% on top of the 2% base rate, depending on the amount of assets elevated cashback rates:

  • Gold Tier: 2.25% unlimited cash back (requires $250,000-$1 million in eligible assets)
  • Platinum Tier: 2.50% unlimited cash back (requires $1-$2 million in eligible assets)
  • Platinum Plus Tier: 3% unlimited cash back (requires $2 million or more in eligible assets)

Tip: Expand the “Spend Categories” in the investor.com credit card rewards calculator above to incorporate additional rewards categories (e.g., Transit, Wholesale Clubs, Utilities) into the cash back per year total.

What we like

A no-hassle way to boost your savings. The Fidelity Rewards Visa is best for those who have long-term savings goals (don’t we all?) and find it challenging to take the extra step of squirreling away the money earned from using a traditional cashback card into savings. The 2% rewards rate may be just the prod to help you achieve your goals more quickly.

Use rewards to pad your Fidelity accounts. Customers with other Fidelity accounts can funnel the cash back earned directly into up to five eligible accounts. This includes brokerage, cash management, retirement, 529 college savings plans, charitable giving, and Fidelity HSAs. You’re allowed to spread the wealth and divide reward deposits among several accounts at once.

Add to a loved one’s Fidelity account. Got a friend or family member with a Fidelity-owned account? The Fidelity Rewards Visa allows cardholders to direct reward redemptions into their accounts, too.

There’s no minimum Fidelity account balance requirement to earn the 2% rewards rate. However, higher net worth savers (those with $250,000 or more in a professionally managed Fidelity account) qualify for up to a 3% cashback rate.

2.25%-3% unlimited rewards rate available. The Fidelity Rewards+ program is available — free of charge to qualifying clients. Membership entitles Fidelity Rewards Visa cardholders to an additional unlimited 0.25%-1% on top of the 2% base rate.

No rewards spending caps, no category restrictions. A flat-rate rewards card — where you earn the same cashback rate on all purchases — is the easiest type of rewards card to manage.

Visa Signature benefits include 24-hour complimentary Visa concierge service, emergency roadside assistance and lost luggage reimbursement.

Travel perks are plentiful, including access to the Visa Signature Luxury Hotel Collection which includes room upgrades, free continental breakfast, a $25 daily food/beverage voucher, best available rate guaranteed and VIP Guest status. There are discounts on car rentals from Avis, Budget and Audi and cruises through Royal Caribbean and Norwegian Cruise Line.

insights The skinny on investing with Fidelity

Learn more about Fidelity’s investment experience over on sister site StockBrokers.com, where our faithful colleagues put the broker through its paces.

What we don't like

The 2% cashback redemption options are limited. To repeat: The top 2% bonus tier only applies when you deposit rewards into an eligible Fidelity account.

Lower redemption value if you use points to pay for travel, merchandise or gift cards, or apply towards a statement credit. The Fidelity Visa’s rewards setup is similar to that of the SoFi Card: Cardholders who keep earnings within the institution’s coffers earn the highest cashback rate. Only in the fine print — see Fidelity's Program Rules — do you see that traditional redemption options are worth less.

Requires a Fidelity-owned account to earn the top rewards rate. With gajillions (rough estimate) of assets under management, there’s certainly no shortage of customers able to take advantage of the Fidelity Reward Visa’s main perk. But if you don’t already have a Fidelity account, this card has limited value.

Sorry, Fidelity 401(k) plans don’t qualify. Bummer, right? Fidelity is a major workplace retirement plan administrator, but the rewards you earn with the Fidelity card are not transferable to a Fidelity-managed 401(k) plan. Individual retirement accounts (IRAs) and simplified employee pension plans (SEP IRAs) at Fidelity are, however, qualifying Fidelity-owned accounts in the rewards program. (For more learnin’ see our IRA vs. 401(k) explainer for tips on the best way to manage each type of account.)

Minimum redemption rules apply. Cardholders must accrue at least 5,000 points — which requires $2,500 in purchases — before being eligible to redeem points for a cash deposit into an eligible Fidelity account. Other reward options (statement credit, merchandise, gift cards, travel options) require a minimum of 2,500 points to redeem.

Disciplined savers can do better elsewhere. If you’re the kind of person who has no problem socking away the “extra” money you earn (from a rewards card or elsewhere), you don’t need this card. There are p-l-e-n-t-y of other rewards cards offering more flexible terms and higher cashback rates. (We’ve calculated which cashback cards offer the most profitable rewards.)

0.25%-1% rewards rate boost only applies to Wealth Management clients... The Rewards+ rate booster requires having professionally managed assets invested in either a Portfolio Advisory Services account (offered through Fidelity Wealth Services), a separately managed account (offered through Fidelity Strategic Disciplines), or a combination of the two.

… Plus there’s a high account minimum. You’ll need at least $250,000 in combined Fidelity account balances to earn the Gold Tier 0.25% cashback rate boost, and $2 million or more in assets with the firm to score the top 3% rewards rate. NBD if you’ve been investing awhile. Otherwise, it’s a high bar for minimal payoff.

No welcome bonus or 0% introductory APR on purchases or balance transfers is disappointing, especially when compared to the 2% unlimited cash back Wells Fargo Active Cash Card, which offers both a sign-up bonus and no-interest purchase/balance-transfer deals.

Requires excellent credit to qualify. If your score is less than 720, your chances of approval are slimmer. Before you apply for the Fidelity card — or any credit card — check your credit score. If you don’t have a magnificent score, consider the Wells Fargo Active Cash Card or the PayPal Cashback Mastercard. Like the Fidelity Visa, both offer 2% unlimited cash back, though Wells Fargo’s signup perks (a welcome bonus and 0% intro APR on purchases and balance transfers.

The bottom line

Is the Fidelity Rewards Visa Signature Card the best rewards card for your wallet? The answer depends entirely on your spending patterns. Let the numbers speak for themselves: Use the investor.com Cashback Credit Card Calculator to see which credit card pays back the highest rewards based on how much you spend each month.

Fidelity Rewards Visa Signature Card fine print

See the Fidelity Rewards Visa Signature terms and conditions and Fidelity Visa reward program rules.

Does the Fidelity Rewards Visa Signature Card charge an annual fee?

No, there is no annual fee for the Fidelity Rewards Visa Signature Card.

tips_and_updates Trivia time!

Roughly 14% of the consumer cashback cards we track in our database charge an annual fee. The average annual fee is $72.60, while the median is $95.

Does the Fidelity Rewards Visa Signature Card offer a welcome bonus?

No, the Fidelity Rewards Visa Signature Card card does not currently offer a welcome bonus.

tips_and_updates Fun fact

Of the more than 60 cashback credit cards in our database, 66% offer a welcome bonus. Currently, the average sign-up bonus on a new cashback card is $210.71, with the median being $200.

How much cash back can I earn with the Fidelity Rewards Visa Signature Card?

The average American that spends $1000 per month will earn $240.00 in cash back per year using the Fidelity Rewards Visa Signature Card. For comparison, the average annual rewards payout from the cashback credit cards in the investor.com database is $191.26, and $180 is the median.

These calculations are based on average consumer spending data from the Bureau of Labor Statistics (BLS) and the reward payout rates from the providers we track. Of course, you’re so much more than an average data point (aka “consumer unit,” in BLS parlance). The amount you can earn in cashback rewards using the Fidelity Rewards Visa Signature Card depends entirely on your unique spending habits.

Find out exactly how much you’ll rake in with the Fidelity Rewards Visa Signature Card by tailoring the spending inputs in the calculator above.

Even more good stuff



Methodology

The results of the investor.com Credit Card Rewards Calculator are based on the monthly spending amounts you enter and the annual dollar value of the rewards each credit card program pays per $1 spent. Credit card companies often express this payout amount as a percentage (e.g., 1.5% of every dollar spent) or on a points basis (e.g. ,1.5 points for every dollar spent). We converted all of them to a dollar amount (“Cash Back Per Year”) to make comparing offers easier.

To calculate the amount of cash back you could earn per year, we factored in:

  • Spend category inputs: The default dollar values for each “Spend Category” in the Best Cashback Credit Cards tool — gas, groceries, travel, restaurant, entertainment, pharmacy, other — are based on average American spending data from the Consumer Expenditure Surveys from the U.S. Bureau of Labor Statistics. We also include additional spend categories (such as streaming services, online shopping, utilities, transit, Amazon and more) to help you see which rewards cards are most closely aligned with your actual spending patterns. We encourage you to customize the monthly spend inputs for the most accurate results.
  • Tiered rewards rates: If a rewards credit card pays higher cashback rates on certain spending categories (also called “Bonus Rewards”), that difference is reflected in the total “Cash Back Per Year” tally.
  • Rewards spending caps: Some cards impose category- or time-based limits (monthly, quarterly, annually) that affect the amount of rewards you can earn. For example, a card may pay 3% cash back on groceries on up to $1,000 of spending each quarter, then revert to the base/default rewards rate until the following quarter. We accounted for bonus spending caps and timeframe in the calculations.
  • Default rewards rates: Purchases that exceed a spending cap are usually subject to a lower default rewards rate (e.g., 1% or 1.5%). We mathed that out too.
  • Annual fees: If a rewards card charges an annual fee, we deducted that amount from the “Cash Back Per Year” total to provide a true accounting of a card’s annual rewards payout.

What’s not included in the “Cash Back Per Year” total is the cash value of any sign-up/introductory bonus. We highlight any Welcome Bonus separately. While sign-up bonuses can be the most lucrative part of getting a new cashback rewards credit card, not everyone will want or be able to do what it takes to earn the extra cash. (It usually requires spending a certain amount in a specified time period after the card is activated.)

About the Editorial Team

Dayana Yochim
Dayana Yochim

Dayana Yochim has been writing (articles, books, podcasts, stirring speeches) about personal finance and investing for more than two decades, focusing on bringing clarity and the occasional comedic aside to what is often a murky, humorless topic. She’s written for NerdWallet, The Motley Fool, HerMoney.com, Woman’s Day, Forbes, Newsweek and others, and been a guest expert on "Today," "Good Morning America," CNN, NPR and wherever they’ll hand her a mic.

Andrea Coombes
Andrea Coombes

Andrea Coombes has 20+ years of experience helping people reach their financial goals. Her personal finance articles have appeared in the Wall Street Journal, USA Today, MarketWatch, Forbes, and other publications, and she's shared her expertise on CBS, NPR, "Marketplace," and more. She's been a financial coach and certified consumer credit counselor, and is working on becoming a Certified Financial Planner. She knows that owning pets isn't necessarily the best financial decision; her dog and two cats would argue this point.

Carolyn Kimball
Carolyn Kimball

Carolyn Kimball is Managing Editor for Reink Media Group and the lead editor for content on investor.com. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.

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