Fidelity Credit Card Review

credit-cardThe 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.

Update: The world of credit has fully recovered from the banking crisis of the Great Recession, and with it, 0% introductory offers with 0% transfer offers are back. Fidelity currently offers some customers 0% intrest until May 2025. Remember, as with most all balance transfers, even though the intrest rate on the amount transferred will be 0%, customers will still pay the transfer fee. In this case, a balance transfer costs 3% of the amount transferred.

As always, credit cards should be used carefully. In most cases it is best to pay off your credit card balance every month. Zero percent interest transfer offers and 0% interest rate offers are not all they are cracked up to be. With most of them interest accrues while you are using your 0% credit line. If you do not completely pay off the 0% interest when it expires, some or even all of that interest may be applied to your account, wiping out the entire purpose of the 0% offers. (I did not see this on the 0% Fidelity credit card balance transfer offer in the mail that I received. However, I did not read the full terms and conditions available online.)

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 also 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.

Essentially, using your Fidelity Signature Visa Rewards card could make some or all of your IRA contribution for you. Or, if you’ve got kiddos heading for college, you can direct your 2% cash back into their 529 plans at Fidelity as well.

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 cashback card with easy access to your rewarded cash.

fidelity credit card 2% cash back

Interest Rate & Fees

The interest rate certainly doesn’t qualify for the super-low category, but it is close to average. It is currently, 19.24%, but remember it is a variable rate. Every time the Fed bumps up intrest rates 0.25%, your card’s interest rate goes up 0.25%. (The converse is true, if the Fed starts cutting rates in 20224.) 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.

As always, the interest and any late fees will cost you way more than the Fidelity 2 percent cash back that you can earn, so pay the statement balance off every month to avoid any interest charges.

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.

If you did not get an offer in the mail you can always ask. Here is the Fidelity credit card customer service number: 888-385-0272

3 thoughts on “Fidelity Credit Card Review”

  1. Worst website Ever. I got the Fidelity Investment Rewards card and was very excited about the rewards. Unfortunately, they have the WORST credit card website – it would constantly log-out and is not user friendly (as though they did not want you to pay your balance!). The 2% cashback is not even what they list – it’s a 1% and a lot of yellow tape to get it to your fidelity account.

    After just one month, I had it with this credit card. I called FIA Card Services to pay my final balance and close my account. It wasn’t until two months later I received a letter in the mail to say I still had a balance. WHAT IS GOING ON?! I called their customer service line, to find out that they never paid my final balance – I had half remaining. I asked why I was never informed the account was still active, I never received any statements in the mail, I never received any emails – NOTHING. I was told I had insufficient funds in my checking account to pay the final balance (which is not true). I asked to see previous statements for the two months my account was left open and told me that I couldn’t view them online because “typically when a call is placed to close the account they stop showing statements online.” I don’t see how it’s possible for them to tell me my account is closed, make half a payment, leave my account open, and not send me any notification.

    Go with a more established credit card company – this fidelity one is terrible!

    • Yeesh! That sounds like a pretty bad experience with the card. I’ve heard lots of good things as well.

      As always, the only thing you can do is watch your credit cards and credit reports like a hawk and swoop in when things go bad, because they will sooner or later.


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