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Disclaimer: The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone. For a full list of our advertisers, see our disclosure page.

Opinions, analyses, reviews, or recommendations expressed here are the author’s alone, and have not been reviewed or endorsed by the issuer. We may be compensated through the issuer’s Affiliate Program. For a full list of our advertisers see our disclosure page.

Advertiser Disclosure

Advertiser Disclosure: Some of the card offers that appear on this website are from companies which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The site does not review or include all companies or all available products.

Disclaimer: The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone. For a full list of our advertisers, see our disclosure page.

Opinions, analyses, reviews, or recommendations expressed here are the author’s alone, and have not been reviewed or endorsed by the issuer. We may be compensated through the issuer’s Affiliate Program. For a full list of our advertisers see our disclosure page.

Fidelity® Rewards Visa Signature® Card: A Worthy 2% Cash Back Offer?

This Offer is no longer available on ValuePenguin.
Image of Fidelity® Rewards Visa Signature® Card
95
"A great 2% cash back credit card, good for those who want to earn rewards across a variety of categories."

Contents

The Fidelity Rewards Visa Signature is an excellent 2% cash back credit card. This new product, which launched on January 4th, 2016 and will replace the existing Fidelity® Investment Rewards® American Express® Card, is mostly an improvement for Fidelity customers. Switching over to the VISA network from Amex makes the Fidelity Rewards credit card much more usable, since the former is accepted by a greater number of merchants worldwide.

Good For… Bad For…
  • Individuals with varied spending
  • Reward optimizers
  • Consumers who don't want to keep track of where they use their credit card
  • Anyone who wants their card to come with a welcome bonus

Current Fidelity® Investment Rewards® American Express® cardholders may continue to use their credit card as normal – the card will continue to be fully supported, including customer service and reward redemptions. By some point in mid-2016, however, these consumers will be contacted by Elan Financial Services – a division of U.S. Bank – and will be issued their new Fidelity® Rewards Visa Signature® Card. No reward points will be lost in the process. Any outstanding credit card balances will be transferred to the new card automatically.

Review: Is The Fidelity® Rewards Visa Signature® Card Any Good?

We consider the Fidelity Rewards Visa Signature card to be one of the best cash back offers. While other credit cards, such as the Chase Freedom® and the Discover it® ­- Cashback Match™, can produce higher rewards rates, they only do so in select categories. The Fidelity Visa credit card is a much more well-rounded option, ideal for users who don't want to keep track of changing categories, or whose expenditures are varied.

This graph plots the estimated rewards a consumer with an average budget can earn on the Fidelity credit card versus other cash back competitors.

Fidelity recently signed on with U.S. Bank and VISA, parting ways with FIA Card Services who issued cards through various networks, including American Express. As the name suggests, the new version of Fidelity's 2% cash back product is now on the VISA network, which we see as a significant improvement in many ways. VISA controls the largest market share of any credit card network, and is accepted by a greater number of merchants than American Express. That should make using this card far easier. However, there may be some downsides, such as more frequent account-freezes on suspicious transactions. We explore this in greater detail below.

There is no welcome bonus on this credit card, hurting its short-term value. Most of the best credit card offers typically come with a sign-up bonus to incentivize consumers to apply. Unfortunately, the Fidelity Rewards Visa Signature card comes with no such thing. If you're looking to maximize your immediate short-term rewards, a card like the Chase Freedom® may suit you better. It offers a $150 welcome bonus to any cardmember who spends at least $500 within the first 3 months their account is opened.

Bottom Line: The Fidelity Rewards Visa Signature remains a great credit card, and doesn't suffer from parting ways with FIA Card Services or American Express. Customers who will be receiving this card in the mail as a replacement for their old Fidelity Amex card have nothing to worry about. The value of this card holds up.

Fidelity® Rewards Visa Signature® Card Benefits & Features

The Fidelity Visa Signature earns users 2% cash back on all purchases. No matter where purchases are made, users will earn this cash back reward, which will then be deposited back into their Fidelity account. The rewards are not directly earned as cash back, but points. Every dollar spent earns users 2 reward points, which can then be redeemed for cash back. You need a minimum of 5,000 points ($2,500 in spending) in order to redeem. In this case, those 5,000 points would equate to $50 in cash back.

Image of Fidelity® Rewards Visa Signature® Card
Annual Fee No Annual Fee
Purchase APR 14.49% variable
Card Details
  • Get unlimited 2% cash back into an eligible Fidelity account to either spend or invest
  • $100 bonus offer after you spend $1,000 within the first 90 days
  • No category limitations
  • No Annual Fee
  • Points never expire

Only net purchases earn reward points. Transactions such as balance transfers and cash advances will not contribute towards cash back.

Rewards may be deposited directly into a cardholder's Fidelity account. Alternatively, reward points may also be exchanged for booking flights, hotel stays or car rentals, merchandise, gift cards, and statement credit.

How Does The Fidelity® Rewards Visa Signature® Card Compare To Other Credit Cards?

It's impossible to determine the value of a credit card absent context. For that reason we compared the Fidelity® Rewards Visa Signature® Card against similar credit card offers, in order to see how it preforms.

Fidelity® Rewards Visa Signature® Card vs Fidelity® Investment Rewards® American Express®

The Fidelity Rewards Visa Signature card is mostly an improvement over the Amex version. Both cards have the same exact reward program – giving users 2% cash back on all purchases. The major difference between the two comes from their networks. As mentioned previously, VISA is much more widely accepted by merchants than American Express – both domestically and globally.

In our experience, American Express transactions are less frequently incorrectly tagged as “fraudulent” than VISA and Mastercard. A possible reason for this is the way each network handles money transfers to merchants. American Express waits several days until it deposits funds into a merchant's account –- giving them more time to verify a charge.

Fidelity® Rewards Visa Signature® Card vs Citi® Double Cash Credit Card

The Citi® Double Cash Credit Card is another card with a 2% rewards rate. It operates slightly differently from the Fidelity® Rewards Visa Signature® Card. The Citi card gives users 1% cash back at the time of purchase, and another 1% back when that purchase is paid off. While this effectively works out to a rewards rate of 2%, it can be a significant difference to users who don't always pay off their credit card bill in full each month. We generally discourage this behavior, however, since not paying off your credit card bill completely at the end of each month will cause interest to eat away at any rewards you earn, and in the end cost you more money.

While the Fidelity Rewards card comes on the VISA network, the Citi® Double Cash Credit Card operates through Mastercard. There are not any significant differences between the two networks in terms of merchant acceptance. The major differences come into play when examining secondary features, such as auto rental insurance benefits. If you care about these, we suggest looking into VISA Signature and Mastercard benefits, to see which better suits your needs.

Comparison Tool

If you are still unsure of how the Fidelity® Rewards Visa Signature® Card compares against other options, we suggest using our comparison tool below. By inputting your estimated monthly spending, our tool will calculate the approximate rewards you can expect out of each credit card on the list, over a two year period.

Assumptions Based On Monthly Spend of: $1,430 Edit
General:
U.S. Gas Stations:
U.S. Supermarkets:
Airlines:
Hotel:
U.S. Restaurants:
Office:
Utilities:
Computing:
Card Annual Fee 2-yr Net Rewards Rate

The Net Rewards Rate is equal to the Rewards Value over two years divided by the total spending. The total spending is equal to the values entered into the tool and multiplied by 24 months. See the rewards Value note to see details on how it is calculated.

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. All estimates are based on the spend assumptions entered above (which you can edit).

Bonus Value

The bonus field shows our estimate for the value of the card’s welcome bonus. If the bonus is point or mile based, we multiply the total bonus points/miles by our estimate for their value to arrive at a dollar equivalent. We display $0 if there is no bonus or if the user doesn’t qualify for the bonus based on the current spending entered into the tool. All estimates are based on the spend assumptions entered above (which you can edit).

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

2-yr Rewards Value

The Rewards value is calculated by adding together the rewards earned from charging purchases to the card over two years and any welcome bonuses (if applicable). They are then multiplied by our estimated point/mile value, with any annual fees (if applicable) subtracted. All values are based on our own estimates for the dollar value of any points, miles or bonuses earned using a card and on the spend assumptions entered above (which you can edit).

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Capital One® Quicksilver® Cash Rewards Credit Card
$0 1.94%
$150
Get $150 bonus after spending $500 within the first 3 months
$665
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 515 x $1 = $515
Bonuses
0 x $1 = $150
Total Net Estimated Rewards Through 24 Months 665

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee $0
APR 14.24% - 24.24% (Variable)

Card Details

  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • Use your Quicksilver card and get 50% back as a statement credit on your monthly Spotify Premium subscription, now through April 2018
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 9 months; 14.24%-24.24% variable APR after that
  • Balance transfers also have a 0% intro APR for 9 months; 14.24%-24.24% variable APR after that; a 3% fee applies to each balance transferred
  • Pay no annual fee or foreign transaction fees

Note: The information in this box was provided by Capital One® and is not part of our independent analysis.

Discover it® ­- Cashback Match™
$0 1.50%
$171
Discover gives a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically. (New cardmembers only)
$514
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 343 x $1 = $343
Bonuses
171 x $1 = $171
Total Net Estimated Rewards Through 24 Months 514

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee $0
APR 13.24% - 24.24% Variable

Card Details

  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
  • Earn 1% cash back on all other purchases.
  • INTRO OFFER: Discover will match ALL the cash back earned at the end of your first year, automatically.
  • Redeem your cash back for any amount, any time. Cash rewards never expire.
  • Use your rewards instantly at Amazon.com checkout.
  • No annual fee.
  • Click "APPLY NOW" to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details & other information.
Blue Cash Everyday® Card from American Express
$0 2.04%
$150
Get $150 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive $150 back in the form of a statement credit.
$700
Graph Card Read Review More Details and Value Calculation

Terms and Limitations Apply

Estimated Rewards Through 24 Months

Card Rewards Point Value Rewards Value
Spending Rewards 550 x $1 = $550
Bonuses
0 x $1 = $150
Total Net Estimated Rewards Through 24 Months 700

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee $0
APR 14.24%-25.24% Variable
*Rates and Fees

Card Details

  • $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • No annual fee.
  • 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
  • 2% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 14.24% to 25.24%.
  • Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express® Cards in the last year.
  • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • Terms Apply.
  • See Rates & Fees
Chase Freedom®
$0 1.44%
$150
Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
$493
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 343 x $1 = $343
Bonuses
0 x $1 = $150
Total Net Estimated Rewards Through 24 Months 493

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee $0
APR 16.24% - 24.99% Variable

Card Details

  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
  • Enjoy new 5% categories each quarter
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.24-24.99%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • No annual fee
BankAmericard Cash Rewards™ Credit Card
No Annual Fee 1.44%
$150
$150 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
$493
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 343 x $1 = $343
Bonuses
0 x $1 = $150
Total Net Estimated Rewards Through 24 Months 493

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee No Annual Fee
APR 12.99% - 22.99% Variable

Card Details

  • $150 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
  • 3% cash back on gas, and 2% cash back at grocery stores for the first $1,500 in combined purchases each quarter
  • 1% cash back elsewhere.
  • 0% APR for the first 12 billing cycles and for any balance transfers made in the first 60 days, then, 12.99% - 22.99% Variable APR. 3% fee (min $10) applies to balance transfers.
Capital One® QuicksilverOne® Credit Card
$39 1.27%
$0
$437
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 515 x $1 = $515
Less Annual Fees -$78
Total Net Estimated Rewards Through 24 Months 437

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee $39
APR 24.99% (Variable)

Card Details

  • Earn unlimited 1.5% cash back on every purchase, every day
  • Use your QuicksilverOne card and get 50% back as a statement credit on your monthly Spotify Premium subscription, now through April 2018
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • Get access to a higher credit line after making your first 5 monthly payments on time
  • Fraud coverage if your card is ever lost or stolen
  • Use online banking to access your account, even from your smartphone, with our mobile app
  • Help strengthen your credit for the future with responsible card use

Note: The information in this box was provided by Capital One® and is not part of our independent analysis.

Blue Cash Preferred® Card from American Express
$95 2.46%
$200
Get $200 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive $200 back in the form of a statement credit.
$845
Graph Card Read Review More Details and Value Calculation

Terms and Limitations Apply

Estimated Rewards Through 24 Months

Card Rewards Point Value Rewards Value
Spending Rewards 835 x $1 = $835
Bonuses
0 x $1 = $200
Less Annual Fees -$190
Total Net Estimated Rewards Through 24 Months 845

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee $95
APR 14.24%-25.24% Variable
*Rates and Fees

Card Details

  • $200 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) - that means spending $60 a week at U.S. supermarkets could earn over $180 back per year.
  • 3% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • Low intro APR: 0% for 12 months on purchases and balance transfers, then a variable rate, currently 14.24% to 25.24%.
  • Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express® Cards in the last year.
  • $95 annual fee.
  • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • Terms Apply.
  • See Rates & Fees

Comments and Questions

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the issuer's website.

Info about the following cards: American Express® Gold Card, Delta Reserve® Credit Card from American Express, Platinum Delta SkyMiles® Credit Card, Hilton Honors™ Card from American Express, Hilton Honors Surpass® Credit Card, American Express® Blue Sky, American Express® Green Card, The Amex EveryDay® Preferred Credit Card from American Express, The Plenti® Credit Card from Amex, Blue from American Express®, Platinum Card® from American Express Exclusively for Mercedes-Benz, Bluebird, Centurion® Card from American Express, Hilton Honors American Express Aspire Card, and Delta Reserve for Business Credit Card from American Express has been collected independently by ValuePenguin. The issuer did not provide the details, nor is it responsible for their accuracy.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program. 

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Advertiser Disclosure: Some of the offers that appear on this website are from companies which ValuePenguin receives compensation. This compensation may impact how and where offers appear on this site (including, for example, the order in which they appear). The site does not review or include all companies or all available products. For more information please see our Advertiser Disclosure.