Ranking the Fidelity Rewards Visa Signature Credit Card
Rewards Program (30 points)
- Earning Rate (15 points): Moderate (2% cash back on all purchases) – 12 points
- Redemption Flexibility (10 points): Multiple options (cash back, deposits into Fidelity accounts) – 10 points
- Rewards Expiration (5 points): No expiration – 5 points
- Total: 27 points
Welcome Offer (20 points)
- Welcome Offer Value (15 points): No welcome offer. – 0 points
- Ease of Earning (5 points): N/A – 0 points
- Total: 0 points
Fees (10 points)
- Annual Fee (6 points): No annual fee – 6 points
- Foreign Transaction Fee (4 points): 1% fee – 2 points
- Total: 8 points
APR and Financing Options (15 points)
- Intro APR (5 points): None – 0 points
- Standard APR (5 points): Moderate (15%-20%) – 3 points
- Balance Transfer Options (5 points): Standard fee – 3 points
- Total: 6 points
Cardholder Benefits (15 points)
- Travel Benefits (5 points): Minimal – 1 point
- Purchase Protection (5 points): Limited – 3 points
- Other Perks (5 points): Some perks, e.g., auto rental coverage – 4 points
- Total: 8 points
Subjective Prestige (10 points)
- Perceived Status (10 points): Low prestige, widely available – 2 points
- Total: 2 points
Total Score: 51 points
Recommendation:
The Fidelity Rewards Visa Signature Credit Card is not recommended for most users due to limitations in welcome offer benefits. However, it can be useful for those who already have a Fidelity investment account and are seeking a no annual fee, simple and straightforward 2% cash back on all purchases that goes towards their Fidelity investments, so the target market for this card is very specific and can be rewarding for that group of people.