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Any recent experience with Fidelity Rewards Visa Signature?

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New Contributor

Any recent experience with Fidelity Rewards Visa Signature?

Does anyone have recent experience with this card? I don't see much, especially recent, detailing this card on the forums. As someone a bit behind in retirement savings I'm wondering if this would be a good card for my next application or not.



Message 1 of 22
21 REPLIES 21
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Valued Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

It's a good 2% card with 1% FTF. It has a minimun redemption of 25 I think.

 

There is nothing wrong with getting it.

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Message 2 of 22
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Established Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

Being a long time Fidelity brokerage account user I was always pleased with their outstanding customer service.
And the Fidelity Visa Signature was always one of those goal cards for me.
It is a decent card although the SCL's are kind of all over the place and Elan is not known for handing out Cali's with great frequency.
My SCL was very low (1500) compared to some of my other trade lines and I had done the research and based on my scores and CR others were pulling in 5-8X when opening an account.
The rewards do add up at 2X.
All that being said I am a fan.....just wish my line was larger.
Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Message 3 of 22
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Established Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

I’ve had mine for a few years now, and I’ve been considering closing it. I simply prefer the Citi Double Cash for the purposes I need a 2% cash back card for, and it also has a significantly higher credit limit than my Fidelity Visa Signature.

Lastly, the Fidelity card has the highest redemption threshold ($50) of any of my cash back cards, which isn’t a huge issue, but it’s still a factor when deciding whether or not to use it on a particular purchase. Oh, and I’m really not a fan of the company servicing the accounts (Elan).

Message 4 of 22
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Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

I have a Fidelity account, but avoid the credit card.  I have another credit card with Elan Financial and they had several problems with credit card numbers getting leaked and had to reissue me a new number twice.  You're better off getting a different 2% card.

Discover It - 19.1K
Citi Double Cash - 16K
AMEX BCP - 35K
Elan Financial - 24.2K
Uber - 25K
Amazon Prime Visa Sig - 9.6K
Fort Knox Platinum - 2.5K
US Bank Cash+ - 14K
Citi AAdvantage PSWE - 21.5K
Message 5 of 22
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Regular Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

i don't have one, but i know people are very upset because they changed the fidelity phone-app and now its useless. plus theres the min redemptions and fidelity bank account requirements. this started out as an amex card too, before they changed it.


Message 6 of 22
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Established Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

Fidelity has responded about the phone app and has stated it is temporarily not showing the data and will be corrected.
Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Message 7 of 22
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Mega Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

It used to be my major 2% card, but i have stopped using it.   For my needs, the PPMC is just better, no min redemption vs $50, and no FTF vs (a low, but still!) 1%.

 

I got it when it was an Amex, and at that time it really was the only 2% around.   Now it's much more crowded!

 

Re retirement, I guess it makes it an automatic way to add some money to a retirement account (or other Fidelity account), but unless the spend is huge, the 2% is going to be pretty insignificant compared to making real regular contributions!

Message 8 of 22
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Regular Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

I have Fidelity as well as Double Cash and PayPal MC (all 2%).  I haven't had trouble with any of them.

 

My current preference is PP > DC > Fidelity, just based on redemption thresholds.

 

Occasionally Fidelity makes offers like "Once you spend $550, in net purchases, additional net purchases will earn 1 Bonus Point per dollar spent (up to 2,000 Bonus Points)". I tend to accept these offers.

 

And if I have a very large purchase (where redemption thresholds become moot) I may spread the purchase among the cards to have the same utilization on each.

Message 9 of 22
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New Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?


@longtimelurker wrote:

Re retirement, I guess it makes it an automatic way to add some money to a retirement account (or other Fidelity account), but unless the spend is huge, the 2% is going to be pretty insignificant compared to making real regular contributions!


That is a valid point right there.



Message 10 of 22
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