The Fidelity Rewards Visa Signature Credit Card is a little different than most rewards credit cards. Earning cash back is common, but the Fidelity credit card offers 2% cash back. What makes it so interesting is what you can do with your cash back from Fidelity.
Cash Back Rewards & Points Rewards
With the Fidelity Rewards card, you can earn an unlimited 2% cash back on all purchases. You can direct your cashback to any eligible Fidelity account. Eligible accounts are basically the standard individual or joint account, and traditional IRA and Roth IRA. Any rewards directed to IRA accounts still count toward your annual contribution limit, and of course, you must be eligible for those accounts according to IRS rules.
An eligible Fidelity account can include a regular brokerage account which can have both check writing and debit card access attached, which means that this card can be just like any other cash back card with easy access to your rewarded cash.
Interest Rate & Fees
The interest rate certainly doesn’t qualify for the super-low category, but it is close to average. The grace period is at least 20 days from statement closing date. Most importantly, there is no annual fee. The card allows for unlimited points to be earned, which has become a critical feature among cash back cards that tend to limit the amount of points or cash that can be earned on an annual basis.
Also available is free access to “MyConcierge” service, although I have no information on that.
Fidelity Investment Rewards Credit Card Review
All and all, I’d have to give this card a Thumbs Up rating. With a 2% cash back schedule and no big gotchas, I can’t see the downside. In fact, I’ll be signing up for this card here very soon and then monitor my credit score with a free trial offer over the next 60 to 90 days to make sure it doesn’t affect my credit score number.