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The Fidelity Rewards Visa Signature Credit Card is a straightforward cash back card designed to complement Fidelity’s investment and retirement accounts. With 2% cash back on every purchase when redeemed for deposits into eligible Fidelity accounts, it aims to reward customers who want to boost their savings while spending. This card can be particularly appealing to those looking to maximize their cash back rewards and seamlessly grow their investments.
The Fidelity Rewards Visa Signature Credit Card is tailored to individuals who already have or are willing to open Fidelity investment accounts. When you make a purchase, you’ll earn 2% cash back, which can be deposited into a Fidelity account like a brokerage, IRA, 529 college savings plan, or other eligible accounts.
The rewards accrue without limit, meaning there is no cap on the amount of cash back you can earn. However, if you choose to redeem your rewards as a statement credit or for other non-Fidelity purposes, the cash back rate may be lower than 2%.
The Fidelity Rewards Visa Signature Credit Card does not have an introductory APR for purchases or balance transfers, which may be a drawback for those looking for initial financing benefits. The standard APR can be high, potentially leading to significant interest charges if a balance is carried. However, it does not charge an annual fee or foreign transaction fees, making it suitable for frequent travelers or international use.
As a Visa Signature card, the Fidelity Rewards Visa offers a range of benefits, such as:
While these benefits are valuable, they may not be as comprehensive as premium travel rewards cards.
The Fidelity Rewards Visa Signature is an excellent option for:
It may not be the best choice for individuals who frequently carry a balance due to the high standard APR or those seeking an initial 0% APR offer.
Read our review of the Citi Double Cash Card here.
The Citi Double Cash Card offers 2% cash back on all purchases (1% when you buy and 1% when you pay). The primary advantage over the Fidelity Rewards card is its redemption flexibility, as cardholders can redeem cash back for statement credits, direct deposits, or checks. However, it lacks the investment-oriented focus that Fidelity offers.
Key Differences:
Chase Freedom Unlimited offers 1.5% cash back on most purchases but has higher cash back rates for select categories (e.g., 3% on dining and drugstore purchases, 5% on travel booked through Chase). For users who want higher rewards in certain categories, the Chase card may be more appealing.
Key Differences:
Read our review of the Discover it Cash Back card here.
The Discover it Cash Back card offers 5% cash back in rotating categories (up to a quarterly limit) and 1% on other purchases. While this can provide higher rewards in select categories, it requires more effort to keep track of the categories and activate them each quarter. Fidelity’s 2% flat rate may be simpler for those who prefer consistent rewards.
Key Differences:
Read our review of the Prime Visa and Amazon Visa here.
The Fidelity Rewards Visa Signature Credit Card is a solid choice for Fidelity account holders who want to seamlessly integrate their rewards into investment or savings strategies. With 2% cash back on all purchases when deposited into a Fidelity account and no annual or foreign transaction fees, it offers good value for those seeking simplicity in their rewards strategy. However, the card’s high APR, lack of introductory financing offers, and limited redemption flexibility may not appeal to everyone.
Affiliate and Relationship Disclosure: Credit Mileage may receive compensation from affiliate links included in this post at no extra cost to you. This helps support our mission of providing quality financial education and resources. Additionally, Credit Mileage has a direct business relationship with eCreditAdvisor, which may be mentioned or linked in our content. Our opinions and recommendations remain our own, and we only promote products or services that we believe offer value to our readers. We currently do not have any credit card affiliate links on our website.
Editorial note: The views expressed in this article are solely those of the author and do not reflect the opinions of any bank, credit card company, airline, or hotel chain. None of these organizations have reviewed, approved, or endorsed the content in any way.
Legal and Financial Advice Disclosure: Credit Mileage is not a law firm, and this article is not intended to provide legal or financial advice. This information is meant purely for educational purposes. We strive to offer accurate and up-to-date information, but it is not a substitute for professional financial or legal advice. Always consult with a qualified attorney or financial advisor before making any decisions regarding your financial situation.
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The Bank of America Travel Rewards credit card offers a straightforward approach to earning travel rewards with unlimited 1.5 points per dollar and no annual fee. Ideal for budget-conscious travelers, this card provides value through flexible redemption and zero foreign transaction fees.
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