Fidelity Rewards Visa Signature Card review

The Fidelity® Rewards Visa Signature® Credit Card * The information for the Fidelity® Rewards Visa Signature® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. offers cash-back rewards with no annual fee and a wide variety of redemption options, although that process can be clunky. Those with enough eligible assets under Fidelity management can bump that up even more.

Fidelity Rewards Visa Signature Card basics

• Annual fee: $0.
• Welcome bonus: None.
• Rewards:  2% cash back on eligible purchases.
• Other perks and benefits: Visa Signature benefits including travel and emergency services, lost luggage protections and purchase security coverage.
• Does the issuer offer a preapproval tool? No.
• Recommended credit score: Good to excellent. 

About the Fidelity Rewards Visa Signature Card

The Fidelity Rewards Visa Signature card is a strong cash-back credit card best suited to those looking to use their credit card rewards to bolster their investments. Though it’s marketed as a cash-back card, it technically earns points, with each point worth 1 cent when redeemed into an eligible Fidelity account. But know that other redemption options net you less value per point, so this card won’t be a fit for everyone.

The points you earn with this credit card can be used for travel purchases, merchandise or gift cards. But the best choice will generally be to redeem your rewards as deposits into your Fidelity accounts. Just note that 401(k)s don’t qualify.

While Fidelity rewards you for every dollar you spend with this card, redeeming the rewards can be challenging. That’s why we only recommend the Fidelity Rewards Visa Signature card for certain customers who already invest with Fidelity. Those who prefer to take rewards as cash back deposited into a checking account might do better with the Citi Double Cash® Card * The information for the Citi Double Cash® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. or the Wells Fargo Active Cash® Card.

Pros

• 2% cash back on eligible purchases.
• Easy redemptions into various Fidelity accounts.
• No annual fee.
• 24/7 cardmember support.

Cons

• Minimum of 5,000 points needed to redeem cash-back deposits.
• 401(k)s don’t qualify for cash-back deposits.
• No sign-up bonus.
• Rewards have lesser value if not redeemed into a Fidelity account.

Rewards

Cardholders earn 2 points per dollar spent. When you redeem those points into an eligible Fidelity account, you’ll get a value of 1 cent per point, meaning this card effectively earns  2% cash back on eligible purchases.

There are also other redemption options, which net you less value, but which some cardholders may prefer from time to time. We’ll cover both in the sections that follow.

Your rewards don’t expire as long as your credit card account is open, and there’s no cap on how many points you can earn.

Redeeming for cash back into a Fidelity account

Once you accrue 5,000 points with your card, you can opt to have them converted into cash back and deposited into your eligible Fidelity account. Deposits are made on a monthly basis, but if you’ve accrued fewer than 5,000 points you won’t be able to redeem cash back for that month.

In order to get the full cash-back reward, you’ll have to deposit the funds into an account that was opened before you got the card and the account can belong to you, a friend or family member. Eligible Fidelity accounts include:

• Brokerage account.
• Cash management account.
• 529 college savings plan.
• IRA accounts.
• Go account.
• Charitable giving account.
• Health savings account (HSA).

Cardholders who have at least $250,000 in managed assets with Fidelity can earn additional cash back on their purchases by enrolling for Fidelity Rewards+. Those who qualify at the highest tier will earn an additional 1% back, effectively getting 3% back on every purchase, which is an industry-leading rewards rate for a flat-rate cash-back card.

Redeeming for other options

Instead of depositing cash back into a Fidelity account, you can redeem your points for airfare, merchandise, gift cards or statement credits once you have enough points saved up. These redemption options require a minimum of 2,500 points.

How the Fidelity Rewards Visa Signature Card compares to other cash-back cards 

Fidelity Rewards Visa Signature vs. Alliant Cashback Visa® Signature Credit Card * The information for the Alliant Cashback Visa® Signature Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

The no-annual-fee Alliant Cashback Signature Visa has above-average earning potential for those willing to jump through a few hoops. For qualified cardholders, 2.5% cash back on up to $10,000 spent each billing cycle with qualifying accounts and all other purchases earn 1.5%.  

For starters, you have to join the credit union to apply. To earn the card’s highest rate, you’ll have to opt in to receive eStatements, get at least one electronic deposit posted to the account each calendar month (direct deposit, ATM deposit, mobile check deposit or transfer from another financial institution) and maintain an average daily balance of $1,000 or more.

That said, to earn 2.5% or better on the Fidelity Card, you’ll have to have at least $1 million in eligible assets with Fidelity and enroll in the Fidelity Rewards+ program. That’s not as attainable for most as the steps to get 2.5% back with the Alliant Cashback Card — so we think consumers willing to join a credit union are likely to prefer the Alliant card.

Fidelity Rewards Visa Signature vs. Wells Fargo Active Cash® Card

Earning a flat 2% cash rewards on purchases without any extra steps or qualifications beyond getting approved for the card is the name of the game with the Wells Fargo Active Cash card. The card carries no annual fee and there’s no membership or deposit requirement.

Rewards can be redeemed for cash back to a qualifying Wells Fargo credit card, checking account or mortgage, starting at $1. This is a notable difference from the Fidelity card which requires you to have at least 5,000 points before you can take your cash back.

The Wells Fargo Active Cash doesn’t come with the travel and purchase protections of the Fidelity Rewards card but it does offer cellphone protection of up to $600 against damage of theft when you pay your bill with the card (up to two claims per 12-month period and subject to a $25 deductible).

Overall, it’s a simpler, more straightforward choice than the Fidelity card and is likely to be the better choice for most — with the exception being those who can qualify for greater rewards via the Fidelity Rewards+ program.

Fidelity Rewards Visa Signature vs. Chase Freedom Flex® * The information for the Chase Freedom Flex® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

If you’re willing to track various categories to get the most rewards out of your spending, consider the Chase Freedom Flex card. It earns 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases. 

If the Flex’s bonus categories match up with areas where you tend to spend heavily, this can work out better for you than a flat-rate 2% card. 

Plus, the Chase Freedom Flex offers travel and purchase protections and cellphone insurance of up to $800 for eligible theft or damage when you pay your bill with the card. Rewards on the Chase Freedom Flex can be redeemed for a statement credit, as a direct deposit to most U.S. checking and saving accounts, gift cards or used to book travel through Chase.

Is the Fidelity Rewards Visa Signature Card worth it?

The Fidelity Visa Signature card is tailor-made for certain Fidelity clients. If you have a non-401(k) account and your credit score is good enough to qualify for approval, this card could be an excellent tool to help you increase your investments.

For those who don’t invest with Fidelity, you’ll likely want to look elsewhere for a rewards credit card. Many issuers offer cash-back rewards without the stipulations that Fidelity has. 

If you’re considering the Fidelity Rewards Visa Signature card, weigh out the features and restrictions before applying.

How do I apply for the Fidelity Rewards Visa Signature Card?

You can apply for the Fidelity Rewards Visa Signature card online or by calling 888-325-6196. Here’s an overview of the steps to apply online:

1. Log in to Fidelity.com.
2. Use the “Apply Now” button on the credit card page to begin your application.
3. Provide the requested personal information (no documents are required).

If you’re approved and you want to receive your rewards as cash back, you’ll have to designate an open, funded and eligible Fidelity account and link your card to the account.

Frequently Asked Questions (FAQs)