• Cash Back Rating
  • Rewards Value
  • Annual Percentage Rate
  • Rewards Flexibility
  • Features
  • Customer Support
4.5

Summary

My Fidelity Credit Card Rating

Fidelity Credit Card – My Favorite Credit Card

I have had many credit cards over the years but my favorite is the Fidelity Credit Card. Everyone’s financial goal in life (should be) is to make as much money as you can, spend as little as you need and invest the rest. That is the simple way to grow wealth. With that in mind there are studies that show that it’s best to use cash because you often times spend less. I have great control over my spending habits and am lucky to have never paid a finance charge in my life. That is why I barely use cash and always use my credit card: my Fidelity Credit Card

The 1 Reason We Love the Fidelity Credit Card

Whether you want a Fidelity Credit Card or another, you need to have control over your spending. If you don’t have control over your spending then you don’t need a credit card right now. I don’t mean to sound preachy but this is a blog about getting beyond debt not getting into it.

There are many reasons to use a credit card. Frequent flyer miles, gas credit and cash back. I love cash back. Period.

Prior to getting the Fidelity Credit Card my wife and I were happily using the Wells Fargo credit card. It gave us a $200 signing bonus and offered a 1.5% cash back on all purchases without an annual fee. Both my wife and I were using the same card to put all of our expenses in 1 place to maximize our rewards. For your information we are very controlled spenders and used the card as a tool and nothing else.

We bought everything on that card (except gas) and even paid many bills with it that didn’t add a fee in doing so. Then at the end of each month we would pay it completely off and get a nice cash back bonus of 1.5%.

Then I learned about the Fidelity Credit Card because I am a good, loyal and long standing customer of Fidelity. I love Fidelity but if their deal wasn’t better than Wells Fargo’s deal I wouldn’t have budged. However, Fidelity had a much better offer in the long run.

The Fidelity Credit Card was offering a 2% cash back reward. The difference between Wells Fargo and Fidelity was a +.05% cash back.

.05% might not seem like a lot of money but over time it adds up very nicely.

In fact it’s not uncommon for my wife and I to have a $5000 credit card bill each month because groceries, kids classes and household bills add up between the 4 of us.

On a $5000 bill there was a .05% or $25 cash back incentive for us to switch cards. So, being that my wife and I look at credit cards as tools we left Wells Fargo and got the Fidelity Credit Card.

Aside from the fact that there was no sign on bonus we love the Fidelity Credit Card.

The 1 Fidelity Credit Card Drawback

There is 1 small drawback to the Fidelity Credit Card. If you don’t have an account with Fidelity you won’t be able to benefit from their cash back program. Their policy is such that the cash back reward money you receive has to added to your Fidelity account. That means the Fidelity Credit Card doesn’t offer a cash back deposit into a personal bank account nor do they have gift cards like American Express.

I have been a Fidelity customer for over 25 years so it’s no problem at all but if you aren’t a Fidelity customer you will have to become one to take advantage of their cash back program.

Take a look at their various accounts here if you aren’t already a customer.

Fidelity Credit Card Details

Below are the Fidelity Credit Card details as well as the pros and cons for applying for their credit card.

Fidelity® Rewards Visa Signature® Card

  • Get unlimited 2% cash back into an eligible Fidelity account to either spend or invest
  • No category limitations
  • No annual fee
  • Points never expire
  • A variable APR of 14.99% (as of 6/16/2017)
  • Balance transfer fee: 3% of each transfer amount, $5 minimum
  • View Rates and Fees

APR, Variable

Purchase: 14.99%, Variable

Fidelity Credit Card Pros

Pros

  • Cardholders with eligible Fidelity accounts get a high rewards rate
  • No annual fee
  • Earns same rewards rate on all purchases

Cons

  • Rewards must be deposited into Fidelity account to get full value
  • Requires excellent credit
  • No 0% APR period
  • No bonus offer

Final Thoughts

Once again the key to having a credit card is to take advantage of their offers without over spending. You must have a budget in place and you must adhere to that budget to take advantage of a cash back program like the Fidelity Credit Card offers.

Each person’s financial situation is different and credit cards are a personal choice. But, if you are like me and you LOVE cash back you might want to have a closer look at the Fidelity Credit Card. It might be right for you.

This is not a paid advertisement nor am I am not an affiliate of Fidelity or their credit card but, without a doubt, this is a credit card worth checking out.

Click here to learn more about the Fidelity Credit Card.

If you need any help or would like to reach out to me please contact me.

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Disclosure:

Some of the links in this post are from my sponsors. I thought you should know because honesty is better then sugarcoated bullsh*t.

Important Resources

  • Read my frequently asked questions or if you need personal 1 on 1 guidance from me on how to fully prepare as well as protect yourself from the misrepresentation please click here.
  • Every month I update this post here for my personal "Millionaire Challenge". I suggest you read the entire post and when you reach the bottom you can see my updated progress.
  • I highly recommend the Simple Path to Wealth book to grow Your wealth simply and steadily. It will educate you beyond your financial imagination. This is my review of the book.
  • If you are new to stock trading test your knowledge here with a basic stock market quiz.
  • There are a lot of secrets in trading stocks and I reveal 20 of them in this popular post.
  • If you are confused about short selling stocks then read this simple explanation that will clear it all up.
  • This free stock research tool will give you all the necessary information on any stock you type into the search bar.
  • Do your best to avoid day trading distractions. Especially the 10 I list here.
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