cancel
Showing results for 
Search instead for 
Did you mean: 

Any recent experience with Fidelity Rewards Visa Signature?

Highlighted
Established Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

I have it but don’t use it. The minimal redemption requirement of 50$ is steep considering the card would only be used for non cat spend.

Amex Green NPSL, Amex Hilton Surpass 5k, Amex Marriott Bonvoy 1k, AMEX BBP 1k, AMEX Biz Cash 6k, BOA Cash Rewards 5k, BOA Better Balance Rewards 2k, Care Credit 15k, Chase Amazon Visa 19.825k, Discover 11.8k, Discover 12.5k, Nordstrom Store 4.5k , Fidelity Visa 10k, Cap 1 QS 15k, Cap 1 Savor 10.5k, Citi Rewards+ 4.4k, Citi DC 8k, Citi Advantage Platinum 5.5k, US Cash+ 3.5k, Altitude Reserve 12.5k, Paypal Mastercard 4k, Apple Card 6.5k, Wells Fargo Cash Wise 5k, BOA Premium Rewards 8k, Citi AA Biz 1.5k, Flexperks Biz 3k
Message 11 of 22
Highlighted
Frequent Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

I have it and would heartily recommend it. Mainly b/c CC points etc are considered a rebate by the IRS and as such are non-taxable. Ergo, fund a Roth IRA with the points for a completely tax-free retirement acct Smiley Happy granted, most ppl proly won't be able to max out the contribution w/ the points alone, but every little helps! And w/out the tax drag, it'll grow a little faster Smiley Happy
Kohl's $3K | Cap1 QS $2.5K | Target Redcard $1.8K | Citi DC $6.4K | Amex BCE $1K | Dick's ScoreRewards MC 10K | Amex ED $4.2K | Amex Schwab Platinum NPSL | Amex Schwab Investor 3K | Rakuten 3K | WF CashWise VS $11.3K | Discover IT $9.8K | Disco IT Miles (#2) 2K | Citizen's Bank Cashback Plus WMC $9.7K | Fidelity VS $9K | USBank Cash+ VS $9K | Cap1 VentureOne 16K | BBT Spectrum Cash Rewards VS 7.5K | BBT Cash Rewards #2 4.5K | BBT Bright 5K | BBVA ClearPoints 7.5K | PNC Cash Rewards 10.5K | BECU Cashback 19.5K | EX 705 | TU 731 | EQ 659
Business Credit ~ Amex BBP 4.8K | Amex BBC 15K | Amex Biz Gold NPSL | Amex Biz Green NPSL | US Bank Biz Cash 3K ~LOC's~ BECU 15K |
Message 12 of 22
Highlighted
New Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

I have it, like others I dislike the $50 redemption threshold. Elan usually does HP for CLIs, but once in a blue moon they do give auto CLIs, I got one once, small bump though. 

 

The one thing I like about this card though is it has always coded as a purchase instead of a cash advance when using it to fund initial deposits for checking/savings accounts. So can earn 2% free money. I mainly keep this card for this purpose.

 

Otherwise I am looking for a 2% replacment for it. The Paypal card is tempting but I'm generally wary of Paypal even if I personally haven't had a bad experience with them yet, and have read a lot of mixed reviews of the underwriting bank, Synchrony.

Message 13 of 22
Highlighted
Mega Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?


@Xatos wrote:
I have it and would heartily recommend it. Mainly b/c CC points etc are considered a rebate by the IRS and as such are non-taxable. Ergo, fund a Roth IRA with the points for a completely tax-free retirement acct Smiley Happy granted, most ppl proly won't be able to max out the contribution w/ the points alone, but every little helps! And w/out the tax drag, it'll grow a little faster Smiley Happy

But similar logic applies to any other 2% card (with lower redemptions).   You get the tax-free cash which you can use (if IRS eligible) to fund a Roth IRA.   The advantage of Fidelity is that this is automatic, and the disadvantage is that is automatic! You have to keep track of how much is being deposited to the account to make sure that that and your other contributions don't exceed the limit.

 

(Plus, as a small point,  you need earned income at least equal to your contributions, so if you retire and have no earned income, the points from the card cannot be put in an IRA.)

Message 14 of 22
Highlighted
Frequent Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

True, true. Valid points that I missed (since I'm not that close to retirement yet and just concentrating on stashing it away right now) But I don't have it set to automatic, that way when I'm approaching the cap I just put the rest in DW's. Another option is using it to fund brokerage acct.
Kohl's $3K | Cap1 QS $2.5K | Target Redcard $1.8K | Citi DC $6.4K | Amex BCE $1K | Dick's ScoreRewards MC 10K | Amex ED $4.2K | Amex Schwab Platinum NPSL | Amex Schwab Investor 3K | Rakuten 3K | WF CashWise VS $11.3K | Discover IT $9.8K | Disco IT Miles (#2) 2K | Citizen's Bank Cashback Plus WMC $9.7K | Fidelity VS $9K | USBank Cash+ VS $9K | Cap1 VentureOne 16K | BBT Spectrum Cash Rewards VS 7.5K | BBT Cash Rewards #2 4.5K | BBT Bright 5K | BBVA ClearPoints 7.5K | PNC Cash Rewards 10.5K | BECU Cashback 19.5K | EX 705 | TU 731 | EQ 659
Business Credit ~ Amex BBP 4.8K | Amex BBC 15K | Amex Biz Gold NPSL | Amex Biz Green NPSL | US Bank Biz Cash 3K ~LOC's~ BECU 15K |
Message 15 of 22
Highlighted
Community Leader
Mega Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

None whatsoeverSmiley Wink
Message 16 of 22
Highlighted
Valued Member

Re: Any recent experience with Fidelity Rewards Visa Signature?

Since Citi is removing benefits, the Fidelity Rewards Visa is my go to card for non-category spending.

 

Gotten a few bait offers, of the kind of spend $nnnn, and the next $mmmm will earn you an extra 1%.

 

Integrates well with Fidelity in terms of showing your balance, recent transactions, and landing the cash, although the site to get your statements is external to Fidelity but still is over green.  The card works in Android Pay very well.

 

I was one of the previous 1.5% accounts, and after Fidelity changes the service partner they moved me to 2% over the phone.  A nice move, so I owe them a little extra loyalty for that.

 

The cash gets flushed when a statement shows a reward >= $50.

 

Would be nice if the card was tappable.

 

Message 17 of 22
Highlighted
Member

Re: Any recent experience with Fidelity Rewards Visa Signature?

I recently got approved with $13,000 spending limit. Not sure how best to utilize it, but I already have several Fidelity accounts so would like to put rewards directly into them.








My Cards (Total CL: $37,600)


Starting Score: 655
Current Score: 673
Goal Score: 700


Take the myFICO Fitness Challenge
Message 18 of 22
Highlighted
New Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?


@Xatos wrote:
I have it and would heartily recommend it. Mainly b/c CC points etc are considered a rebate by the IRS and as such are non-taxable. Ergo, fund a Roth IRA with the points for a completely tax-free retirement acct Smiley Happy granted, most ppl proly won't be able to max out the contribution w/ the points alone, but every little helps! And w/out the tax drag, it'll grow a little faster Smiley Happy
Now that is a cool feature I didn't know about! Tax free is always good. I am definitely behind in retirement savings but now that my student loans are paid off it seems like a good time to 'passively' grow things as well as aggressively dumping in money as well.



Message 19 of 22
Highlighted
Contributor

Re: Any recent experience with Fidelity Rewards Visa Signature?

Same as in an earlier post, I switched to use the fido visa for most non-category spending after Citi announced plan to turn double cash to a "debit card".

 

But I've recently stopped and am mainly using CFU now. As there was a charge that I wanted to dispute (in process of buying tickets online, website showed 'transaction failed, payment error', few days later found that the charge posted), but fido visa is making it very difficult to do so, in that while they seemingly support dispute online, but at the last step the website simply tells me to call a number, where there's such a long wait that I just gave up as the charge is an inconvenient amount of $50 which I don't want to simply gave up but also not gonna waste too much time fighting for.

 

On the other hand I have had disputes with Chase's cards previously and they took care of that after a simple SM. Chase also tend to pick up my calls right away and resolves the issues efficiently whenever I've needed to call them.

 

Thus, while whether 1.5 UR is worth $0.02 might be up to debate, Chase's customer service certainly makes up for any difference there for me.

 

Message 20 of 22
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.