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Fidelity® Rewards Visa Signature® Card Review

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The Fidelity® Rewards Visa Signature® Card is a rewards credit card that offers 2% cash back on every eligible net purchase, with no annual fee. Every dollar you spend will net you two Reward Points, which have no total limit and no expiration.

In a world where reward cards are filling up our wallets due to rotating 5% categories or bonuses only at certain times of the year or at certain stores, this card is a breath of fresh air.

Not having to worry about rotating cards AND getting to save for things like retirement, college, or anything else, make this a winning option for those who want a hassle-free rewards card.

Fidelity® Rewards Visa Signature® Card

Welcome Offer

N/A

Rewards

Earn unlimited 2% cash back on all purchases to spend or invest with no rewards limits or spend caps.

Annual Fee

$0

Our Thoughts

This rewards card is best for those looking to get the most out of their purchases by investing rewards earned into an eligible Fidelity account.

Offer details accurate as of 10/23/23

Key features

  • Unlimited 2% cash back
  • No annual fee
  • No limits on total Reward Points
  • No restrictive categories
  • Reward Points will not expire
  • Make mobile purchases with Apple Pay®, Google Pay, Samsung Pay, and Microsoft Wallet
  • Link to a variety of eligible Fidelity accounts for maximum reward perks
  • Enjoy all the benefits that come with Visa Signature

Fidelity® Rewards Visa Signature® Card details

As you can see, you can quickly rack up rewards with this card. A 2% flat cash back rate can easily make this your everyday card that will pay off in the long-run.

You can easily invest

The Fidelity Rewards Visa Signature Card gives you different options on where you’d like to deposit your earnings:

  • Fidelity brokerage account
  • Fidelity® Cash Management Account
  • Fidelity-managed 529 College Savings plan
  • Fidelity retirement account (i.e., IRA)
  • Fidelity Charitable® Giving Account®
  • Fidelity HSA®

This works out for Fidelity because you’re putting earnings into accounts you have with them. So as long as you don’t mind investing with Fidelity, you can get one of the best returns on a rewards credit card out there.

No annual fee

Aside from the excellent cash back rewards you get, the card has no annual fee. One of the biggest challenges with rewards cards is that you have to spend a certain amount every year to offset the cost of any annual fee.

Great customer reviews

Users seem to love the card: 87% of reviewers would recommend the card to their friends (according to Fidelity, of course!)

One customer wrote that it’s become his go-to card and he’s had a great experience so far:

…it’s my go to card. The 2% cash back is wonderful. I’ve also had very good experiences with customer service when there’s been fraud on my account. I’ve had nothing but good experiences with Fidelity and their VISA card.

Not the greatest customer service reviews

But it’s not always sunshine and rainbows. Some customers have complained about confusing statements and the customer service being poor. It’s important to note that Fidelity outsources the customer service of this card to a company called Elan Card Services. They manage multiple of credit cards, but it’s them, not Fidelity, you’ll be dealing with.

No sign-up bonus

Also, the Fidelity® Rewards Visa Signature® Card doesn’t have any kind of sign-on bonus or introductory offer rate on balance transfers or purchases like many other rewards cards do.

You’ll need to invest with Fidelity to get the highest rewards

In addition, to reap the value of the full 2% cash back, you have to deposit into an eligible Fidelity account, otherwise your rewards are significantly reduced.

Rates & fees

It’s hard to find a rewards card that also carries a competitively low APR, and the Fidelity card is no different. Cash advance fees are 3% or $10 per transfer, whichever is greater and balance transaction fees are 3% or $5, whichever is greater. There are no foreign transaction fees.

No introductory APR

I was a little disappointed to find that there was no introductory offer for purchases or balance transfers. Even on rewards cards, many offer promotional rates to get you to apply.

If you’re smart, you can take advantage of those offers and not pay any additional interest or fees.

But the no annual fee makes up for it

The main thing to know about fees with this card is that there is no annual fee. As I stated above, this is a huge benefit for a rewards card, since you don’t have to worry about offsetting the annual fee by making a bunch of purchases.

Rewards & benefits

Get 2% cash back on all purchases

The 2% earnings rate on all purchases. means you won’t have to worry about choosing the perfect card for each and every category to make sure you’re getting the best value on rewards. The rewards you earn will never expire, either.

Boost your Fidelity investment accounts

You’ll get the full 2% cash back bonus when you deposit the money into an eligible Fidelity investment account.

This is an unmatched perk, as you can use your credit card for everyday purchases and sock away money for your child’s college with ease or invest into another eligible Fidelity account. It’s extra beneficial because you don’t see the money, so it’s like automatic savings.

Visa Signature® Concierge

The concierge service is excellent. You can get 24-hour complimentary concierge assistance with everything from booking a flight to getting concert tickets for your favorite band.

I’ve personally used the concierge to get dinner reservations for restaurants that said they were booked up. I have no idea how they do it, but they do. It’s a really helpful service, and not just for those making last-minute reservations.

Signature travel & shopping offers

Using your Fidelity® Rewards Visa Signature® Card gets you discounts on eligible hotels and transportation partners so you can find the lowest rates available. Special offers are also available from a wide variety of retailers and on unique experiences.

Security

Your new card will come with a number of security and protection benefits such as extended warranty protection, auto rental collision damage waiver, travel-related reimbursements, and even emergency medical and dental.

And if for any reason you do get fraudulent charges on your account, you’ll have no liability for those fraudulent charges.

Customer support

Fidelity’s customer service is open 24 hours a day, seven days a week. If you ever need anything and don’t want to deal with emailing customer service, you can pick up the phone and call them at any hour of the day or night.

Some users complained about the customer support, but there are two important things to know here:

  1. I’ve personally used Fidelity’s customer service and it’s fantastic.
  2. Fidelity recently broke ties with FIA card services, which I know personally does not excel at customer service (because I used to work for their parent company).

I wouldn’t read too much into the complaints about service – I’ve found it to be top notch, and clearly Fidelity realized they were having some challenges so they moved on to a new credit servicing partner.

Pros & cons

Pros

  • Solid rewards program — You’ll earn a flat 2% cash back on all purchases, regardless of the category of your purchase.
  • No limit on earnings — This might seem like a no-brainer, but some cards like Discover and Chase Freedom will cap your earnings after you’ve hit a certain amount. Fidelity doesn’t limit your rewards.
  • No annual fee — There’s no annual fee for this card.
  • Visa Signature perks — Because it’s a Visa Signature card, you’ll get extra perks that come with that type of card.

Cons

  • You need a Fidelity account to make it worthwhile — If you don’t deposit your cash back into a Fidelity account, your earnings will be much lower.
  • No bonus categories — Because it’s a flat 2% earnings rate, you can’t take advantage of bonus categories to earn more.
  • No sign-up bonus — This card doesn’t come with an introductory APR offer or points bonus for signing up and using the card.

Is the Fidelity® Rewards Visa Signature® Card right for you?

If you already invest with Fidelity and you’re looking for a flat cash back rewards card, this one is a no-brainer. It’s not common for credit cards to offer 2% cash back with no annual fee, but Fidelity can swing it because they’re making money off of your investment accounts.

It doesn’t offer bonuses or introductory offers, so if you’re someone who likes to switch cards to get the most value out of every purchases, you’ll find a lot to be desired with the Fidelity® Rewards Visa Signature® Card.

Summary

The Fidelity® Rewards Visa Signature® Card is an excellent choice for an everyday credit card for Fidelity investors. Getting a flat 2% cash back on all purchases with no annual fee is as solid a rewards program as you can find. As long as you don’t mind the lack of introductory offers, this card is a good pick all day long.

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