Fidelity Investments announced a new long-term card-issuing program that will offer Visa branded credit-card products to U.S. consumers, including Fidelity’s 24 million customers.
Under the new card program, U.S. Bank will issue the Fidelity Rewards Visa Signature Card and the Fidelity Investments 529 College Rewards Visa Signature Card, where cardmembers can earn unlimited 2% cash back with no annual fees, caps or categories when directing rewards into eligible Fidelity accounts.
An interesting fact during the announcement was that customers using Fidelity’s 2% cash back credit cards have earned more than $1 billion in cash rewards since 2003.
The new Fidelity Rewards Visa Signature Card is pretty much the same as the discontinued Fidelity Amex card. You will earn unlimited 2% cash back, but to earn the rate you will have to redeem for a deposit into an eligible Fidelity account.
Right now there’s no sign up bonus for the card, so I don’t suggest applying. The Citi Double Cash card would make more sense for a 2% everywhere card and even the Discover It card would be a good option with 1% everywhere and 5% rotating categories that are doubled for a year.
- Apply Here
- Unlimited 2% cash-back when redeemed for a deposit into an eligible Fidelity account
- No limit on points Earned
- No limits on reward points and no restrictive categories
- Points don’t expire
- No Annual Fee
- Visa Signature Benefits