![]() ![]() 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.įidelity Rewards Visa Signature's Outstanding Benefits First, put all eligible purchases on your credit card to earn the most rewards points possible. To maximize your rewards with this card, you only have to do two things. 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. You still must have at least 2,500 points to redeem rewards to an eligible Fidelity account. Otherwise, they'll continue to accrue until you have 2,500 points.įor on-demand redemption, you manually redeem points when you wish to. If the balance exceeds 2,500 points (the minimum redemption level), your rewards points will be converted to cash and automatically deposited. Once set up, your points balance will be checked at the end of each month. You can set up automatic redemption or use the on-demand redemption option.įor automatic redemption, set up your eligible Fidelity account to receive cash deposits or call 88. There are two ways to redeem rewards to an eligible Fidelity account. Fidelity-managed 529 College Savings Plan accounts.But these redemptions involve a lower redemption value. However, your points can also be redeemed for travel, merchandise, gift cards or a statement credit. To guarantee your 2% cash-back rate, rewards must be deposited into your eligible Fidelity account. You can earn unlimited points and your points never expire as long as your account remains open and in good standing. 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. This card is marketed as offering 2% cash back. 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. So the card makes the most sense for existing customers. An account is required to earn the card's unlimited 2% cash back on all purchases. 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. ![]() That’s a costly mistake that could trigger financial penalties. 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. ![]() 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).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. 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.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 high 2% cash-back rate on purchases can help make up for this. No Bonus: While many cash-back credit cards-even those with no annual fee-come with one-time offers, this card does not.That way, your rewards never sit idle and you can keep building your investment account balance. Rewards Can Be Automatically Redeemed: Set up automatic redemption of your rewards to your qualifying Fidelity account.This rate is one of the best cash-back rates available with a no-annual-fee credit card. 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.The best rewards rate requires a Fidelity investment account ![]()
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