Credit Cards Cash-Back Credit Cards

Fidelity Rewards Visa Signature Review

overall rating

Unlimited 2% cash-back rewards when redeemed to a Fidelity investment account

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The Fidelity Rewards Visa Signature offers unlimited 2% cash back on everyday spending, one of the best such rates for a card with no annual fee. To get this generous rate, however, you must redeem your rewards to a qualifying Fidelity account, which Fidelity will open for you over the phone when you apply, if you don’t already have one. This card also offers some useful benefits you might use to protect your purchases or when traveling.

Fidelity® Rewards Visa Signature® Card

Overall Rating
Fidelity® Rewards Visa Signature® Card
On Elan Financial Services' Secured Site.
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Regular APR (%) 16.99% variable
Annual Fee $0
Rewards Earning Rate Earn unlimited 2% cash back on everyday spending.
Balance Transfer Fee Either $5 or 3% of the amount of each transfer, whichever is greater.
Foreign transaction fee (%) 1%
how this card stacks up
When compared among all rewards cards in our database:
Low Fees
Security/Customer Experience
Low Interest
worst best

The Fidelity Rewards Visa Signature card is not one of our top-rated cash-back credit cards. You can review our list of the best cash-back credit cards for what we think are better options.

Full Review of Fidelity Rewards Visa Signature

  • Earn unlimited 2% cash back

  • Rewards can be automatically redeemed

  • No bonus

  • The best rewards rate requires a Fidelity investment account

  • Rewards redemption comes with drawbacks

Pros Explained

  • Earn Unlimited 2% Cash Back: You earn 2 rewards points per dollar of purchases which, when redeemed to a Fidelity investment account, equals 2% cash back. This rate is one of the best cash-back rates available with a no-annual-fee credit card.
  • Rewards Can Be Automatically Redeemed: Set up automatic redemption of your rewards to your qualifying Fidelity account. That way, your rewards never sit idle and you can keep building your investment account balance.

Cons Explained

  • No Bonus: While many cash-back credit cards—even those with no annual fee—come with one-time offers, this card does not. The high 2% cash-back rate on purchases can help make up for this. However, you might earn more in the first year with a card that offers a bonus, since these can easily run to $150 or even $200.
  • The Best Rewards Rate Requires A Fidelity Investment Account: Most cash-back credit cards with similar rewards earning rates offer a range of redemption options, including statement credits and checks, with minimal variation in their benefit or conditions. By contrast, this card provides the advertised 2% cash-back rate only if you're a Fidelity customer. Fidelity will open an account for you when you apply for the card over the phone.
  • Rewards Redemption Comes With Drawbacks: For one, you can't redeem your rewards to an eligible Fidelity account until your point balance reaches 2,500 (that's $1,250 in card purchases). Secondly, if you choose to redeem your rewards to a Fidelity retirement account and you have a similar retirement account elsewhere to which you’re also contributing, you could exceed the total contribution limit for a year, if you're not careful. That’s a costly mistake that could trigger financial penalties.

This Card is Best For

  • Avatar for Cash Back Strategist Persona
    Seeks to maximize cash back earnings across spending categories
    Cash Back Strategist
  • Avatar for Minimalist Persona
    Prefers uncomplicated rewards with single rate for all spending
  • Avatar for Annual Fee Averse Persona
    Resists or refuses an annual fee on principle or due to cost
    Annual Fee Averse

The Fidelity Rewards Visa Signature credit card is for people with excellent credit who want to earn cash back that helps them to invest for their future. And invest with Fidelity, specifically. An account is required to earn the card's unlimited 2% cash back on all purchases. So the card makes the most sense for existing customers. While there's little reason to get the card unless you’re willing to open an account, the rich rewards can be a strong incentive.

Rewards Earning Details

This card is marketed as offering 2% cash back. You actually earn 2 rewards points per dollar on net purchases which, when redeemed as a deposit to your Fidelity account, equals 2% of spending. You can earn unlimited points and your points never expire as long as your account remains open and in good standing.

Rewards Redemption Details

To guarantee your 2% cash-back rate, rewards must be deposited into your eligible Fidelity account. However, your points can also be redeemed for travel, merchandise, gift cards or a statement credit. But these redemptions involve a lower redemption value.

Eligible Fidelity accounts include:

  • Most non-retirement accounts
  • Traditional IRAs
  • Roth IRAs
  • Rollover IRAs
  • SEP IRAs
  • Fidelity Charitable Giving Accounts
  • Fidelity HSAs
  • Fidelity-managed 529 College Savings Plan accounts

There are two ways to redeem rewards to an eligible Fidelity account. You can set up automatic redemption or use the on-demand redemption option. 

For automatic redemption, set up your eligible Fidelity account to receive cash deposits or call 888-551-5144. Once set up, your points balance will be checked at the end of each month. If the balance exceeds 2,500 points (the minimum redemption level), your rewards points will be converted to cash and automatically deposited. Otherwise, they'll continue to accrue until you have 2,500 points.

For on-demand redemption, you manually redeem points when you wish to. You still must have at least 2,500 points to redeem rewards to an eligible Fidelity account. If you redeem your rewards for anything other than a deposit to a qualifying Fidelity account, you'll receive less than the 2% cash-back value.

How to Maximize Your Rewards

To maximize your rewards with this card, you only have to do two things. First, put all eligible purchases on your credit card to earn the most rewards points possible. Next, make sure you redeem your rewards into an eligible Fidelity account to get the most value, a penny per point, out of your rewards. 

Fidelity Rewards Visa Signature's Outstanding Benefits

  • Lost luggage reimbursement: Up to $3,000 of supplemental reimbursement coverage for checked luggage or carry-on baggage that is lost due to theft or misdirection by the common carrier (with certain exceptions).

Standard Benefits

  • Best available rate guarantee and certain discounts for Visa Signature Luxury Hotel Collection
  • Special offers for shopping and fine dining experiences
  • Concierge for booking event tickets, travel and other services
  • Security insurance can be bought for stolen or damaged purchases
  • Roadside dispatch
  • Travel and emergency assistance services
  • Complimentary ID Navigator by Norton LifeLock for ID theft protection

Cardholder Experience

This card is issued by Elan Financial Services, which was not ranked in J.D Power's 2022 U.S. Credit Card Satisfaction Study. As a cardholder, you can contact Elan Financial Services' customer service department by calling 800-558-3424. You can also manage your card on the Fidelity mobile app for Android phones and iPhones.

Security Features

This card offers standard security features such as zero fraud liability and digital wallet support but does not provide any security features that differentiate it from other cards. 

Fees to Watch out For

The Fidelity Rewards Visa Signature card's fees are in line with most cash-back credit cards. Carefully consider the balance transfer fee of $5 or 3% of the amount of the balance transfer, whichever is greater. There are cards that have an introductory period with no balance transfer fees. Watch out for the 1% foreign transaction fee, as well. While this fee is relatively low, many cards don’t charge a foreign transaction fee at all.

Final Verdict

The Fidelity Rewards Visa Signature credit card can be a smart supplement to a Fidelity investment account. It provides a simple way to regularly add to your investment account balance with a stream of credit-card rewards. While being a Fidelity customer isn’t required to have the card, without a Fidelity account the value of redeemed points is less. So, the Fidelity Rewards Visa Signature card is most beneficial for existing Fidelity customers and those willing to become one.

If you'd rather not mix rewards and investing, which may have some complications, and want to earn the absolute maximum rewards on your spending, consider other credit cards that offer exceptional rewards in the categories in which you spend the most.

Frequently Asked Questions

What Credit Score Do You Need for the Fidelity Rewards Visa Signature?

An excellent credit score is required for this credit card. That translates to a FICO Score 8 range of 800 to 850.

How Does the Fidelity Rewards Visa Signature Card Work?

If you want to redeem your rewards to a Fidelity investment account to add to your savings, apply for the card, open a Fidelity investment account, use the card to earn unlimited 2% cash back, and then deposit cash to your Fidelity account once the points balance reaches 2500. You earn two points per dollar spent. If you prefer to redeem points for travel, merchandise, or a statement credit, you can get the card without opening a Fidelity account. However, the cash back that you earn will be less than 2%.

What Is the Sign-up Bonus for Fidelity Rewards Visa Signature Card?

At this time, there is no sign-up bonus associated with Fidelity's card.

What Bank Issues the Fidelity Visa Card?

Elan Financial Services issues the Fidelity Rewards Visa Signature credit card. Elan Financial Services and Fidelity are two separate companies.

Next Steps
For Fidelity® Rewards Visa Signature® Card
on Elan Financial Services' Secured Site.
Compare This Card
See how this card compares to similar cards
Fidelity® Rewards Visa Signature® Card
overall rating
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Regular APR (%) 16.99% variable
Annual Fee $0
Rewards Earning Rate Earn unlimited 2% cash back on everyday spending.
Investopedia Credit Card Rating Methodology
Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members.
Overall Star Rating Explained
To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card:
We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
  1. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards’ introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates.
  2. We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel.
  3. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket).
  • Cards that are selected best overall in their respective categories generally feature most if not all of the following attributes:
  • Low or Reasonable Fees Credit card fees come in many forms but the primary ones involve those for annual card membership and balance transfer. There are a myriad of reward and non-reward card options that charge no annual fee but for the many that do assess an annual fee the cost is often justified by their lucrative ongoing rewards and initial signup bonuses. Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned
  • Competitive Interest Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range.
  • Valuable Rewards Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. We also assign value to sign-up bonus offers and their initial spending requirements, when present.
  • Excellent Benefits Credit card benefits cover a range of offerings like concierge service, TSA Pre-check, auto rental coverage, travel accident insurance, lost luggage assistance and free credit scores. We rate cards on the number and level of over a dozen standard and upscale benefits and provide extra weighting emphasis for those travel-related perks that apply to premium travel cards when present.
  • Solid Security/Customer Service Security and customer service features like lost or stolen card replacement, being able to lock one’s card from an issuer app and 24 hour customer support are becoming more standard across the card market and we provide a significant amount of weighting to features in this area.
  • You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.