Fidelity Investments Visa Rewards Credit Card Review

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fidelity rewards card

Fidelity Invesments partnered up with Visa to introduce the Fidelity Investments Rewards Visa Signature Card with WorldPoints.

I signed up for this card and linked it to my Roth IRA account, where I can earn 1.5% cash back into my retirement account.

Program Details

0% introductory APR period for your first twelve billing months, after the introductory period, the APR stands at 13.9%. The Normal APR is a bit high for this card, but Fidelity offers a $5,000 credit line, which is extremely generous. This rewards credit card has become my third option for credit purchases, behind my two Bank of America credit cards.

Zero Annual Fees

There is no annual fee to worry about here.

Unlimited Rewards Potential

You earn 1 reward point for every dollar spent in net retail purchases. Once you reach 5,000 points, Fidelity converts your points total automatically into $75 cash, and credits your investment accounts. Fidelity rewards is a great asset, yet the high APR detracts from the benefits of the credit card rewards.

3% Transaction Fee for Balance Transfers, Cash Advances, and ATM Purchases

Use another credit card for transfers because the minimum transaction fee is $10. Either carry a debit card for ATM withdrawals, or make cash advances with a lower interest credit card.

Fidelity Promotional Offers

Fidelity mentions priority code FAAA7X on their website that may grant access to special offers or rates.

Fidelity Investments Visa Rewards Recap

Pros

  • High Credit Line
  • 1.5% Cash Back Rewards
  • Connects to your Fidelity Investments Account

Cons

  • High 13.9% APR after your introductory period
  • We must spend $5,000 in purchases before we receive our first cash back deposit.
  • Minimum $10 Transaction fee on transfers, advances, and ATM purchases

The Fidelity Rewards credit card provides us with a line of accessible credit in case of an emergency or conflict. Ultimately, it’s a secondary or tertiary option in our credit card lineup.

What is the Best Visa Rewards card? and How many credit cards do you need?

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