Great Card If
- You want a card that will help you achieve your savings and investment goals
- You’re a Fidelity customer
- You want a card with no annual fee
Don’t Get If
- You want to earn travel or transferable rewards with multiple redemption options
- You want a card with bonus categories to help you optimize your largest purchases
- You’re not a Fidelity customer
Fidelity Rewards Card — Is It Worth It?
If you’re a Fidelity customer and want your credit card rewards to benefit your savings and investment goals, then adding the Fidelity Rewards card to your wallet can be an excellent choice.
With it, you can effectively invest in your retirement accounts with each card purchase while paying no annual fee or foreign transaction fees.
Fidelity Rewards Card Top Benefits and Perks
The Fidelity Rewards card offers solid benefits for a no-annual-fee card:
- Global Entry or TSA PreCheck credit: Use your card to pay for your Global Entry or TSA PreCheck application fee and receive up to $100 in reward points.
- Auto rental collision damage waiver: Receive secondary insurance for domestic rentals and primary for international rentals, with coverage of up to $75,000 when you decline the rental company’s policy and pay with your card.
- No foreign transaction fees: Earn rewards on international purchases without being charged foreign transaction fees.
Best Ways To Earn and Redeem Your Rewards
With your Fidelity Rewards card, you’ll earn an uncapped 2% cash-back on all purchases you make with the card, with no limits to how much you can earn. You can redeem your rewards as a cash deposit into eligible Fidelity accounts, for travel, merchandise, or gift cards, or as a statement credit.
Eligible Fidelity accounts include most nonretirement accounts, as well as a Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, Fidelity Charitable Giving Account, Fidelity HSA, and Fidelity-managed 529 College Savings Plans. There is no redemption minimum, and your rewards will never expire.
Alternative Cards to the Fidelity Rewards Card
If you prefer to earn cash-back rewards over travel rewards, then the Citi Double Cash card might suit you well.
With it, you’ll earn an uncapped 2% back (1% when you make a purchase and another 1% when you pay), and your rewards can be redeemed in various ways, including statement credits, gift cards, and merchandise.
The card has a $0 annual fee, and Citi Double Cash cardholders can transfer their rewards to Citi’s transfer partners, including American Airlines AAdvantage. Pair it with a premium Citi ThankYou Rewards card, such as the Citi Strata Premier℠ Card or Citi Strata Elite℠ Card, and you can pool points and transfer them at a higher ratio.
If you’re looking for a cash-back rewards card that earns well on everyday purchases, the Blue Cash Everyday card is a great choice.
It earns 3% back at U.S. supermarkets (on up to $6,000 in purchases each year, then 1% back), 3% back at U.S. gas stations (on up to $6,000 in purchases each year, then 1% back), and 3% back on online retail purchases (on up to $6,000 in purchases each year, then 1% back).
If your household spends a lot on groceries, gas, and online purchases each year, you’d be able to earn $540 in cash-back each year if you hit the $6,000 threshold for 3% rewards in each category. That’s great for a $0-annual-fee card (rates & fees).
You’ll receive an annual streaming credit, which can be used to earn up to a $7 monthly statement credit after making a subscription purchase, including a bundle subscription purchase, with your enrolled card for Disney+, Hulu, or ESPN+.
