Fidelity Rewards Visa: Advantages and Disadvantages
The Fidelity Rewards Visa from Elan Financial is one of the most competitive credit cards in the cash back cards category. With a rating of 8/10, it offers no annual fee and impressive rewards including 2% unlimited cash back into fidelity account.
In this comprehensive review, we break down everything you need to know about the Fidelity Rewards Visa: rewards structure, fees, APR, welcome bonus, and how it compares to competitors. Whether you are looking for your first rewards card or adding to your wallet, this guide covers it all.
Fidelity Rewards Visa Overview
The Fidelity Rewards Visa is issued by Elan Financial and is designed for consumers with Good-Excellent (670+). It carries a rating of 8/10 from our experts. For those with good to excellent credit, this card can be a valuable addition to your wallet.
| Feature | Details |
|---|---|
| Issuer | Elan Financial |
| Annual Fee | $0 |
| Intro APR | N/A |
| Regular APR | 19.24% - 29.24% Variable |
| Rewards | 2% unlimited cash back into Fidelity account |
| Welcome Bonus | N/A |
| Credit Score | Good-Excellent (670+) |
| Foreign Tx Fee | 1% |
Rewards & Benefits Breakdown
The Fidelity Rewards Visa earns 2% unlimited cash back into fidelity account. Here is the detailed breakdown of earning rates:
| Category | Reward Rate |
|---|---|
| All Purchases | 2% unlimited cash back into Fidelity account |
| Welcome Bonus | N/A |
| Intro APR | N/A |
| Credit Score | Good-Excellent (670+) |
Since this card has no annual fee, you can keep it forever without cost. Use it for everyday purchases to maximize value.
Fees & APR Analysis
| Fee Type | Amount |
|---|---|
| Annual Fee | $0 |
| Purchase APR | 19.24% - 29.24% Variable |
| Balance Transfer APR | 19.24% - 29.24% Variable |
| Foreign Transaction Fee | 1% |
Fidelity Rewards Visa vs Competitors
See how Fidelity Rewards Visa stacks up against similar cards.
| Card | Fee | Rewards | Bonus | Rating |
|---|---|---|---|---|
| Bank of America Unlimited Cash | $0 | 1.5% unlimited, 75% more for Preferred Rewards | $200 after $1,000 in first 90 days | 7/10 |
| X1 Card | $0 | 2x on all, 3x groups of 3+ merchants | N/A | 7/10 |
| Wells Fargo Active Cash | $0 | 2% unlimited cash back | $200 cash rewards after $1,000 in fir... | 8/10 |
| Chase Freedom Flex | $0 | 5% rotating categories (up to $1,500/quarter) | $200 bonus after $500 spend + 5% on g... | 8/10 |
| Chase Freedom Unlimited | $0 | 1.5% unlimited cash back | $200 bonus after $500 in first 3 mont... | 9/10 |
Pros & Cons
✅ Pros
- Competitive rewards rate: 2% unlimited cash back into Fidelity account
- Welcome bonus: N/A
- No annual fee
- Issued by reputable Elan Financial
- High expert rating of 8/10
❌ Cons
- Foreign transaction fee of 1%
- Higher than average APR
The Fidelity Rewards Visa is best for consumers who want a simple, no-fee card with solid rewards. If you have Good-Excellent (670+) credit and spend $977/month on average, this card could earn you significant value.
How to Apply for Fidelity Rewards Visa
Applying for the Fidelity Rewards Visa is straightforward. Here is the step-by-step process:
- 1
Check Your Credit Score
Before applying, check your credit score. You need Good-Excellent (670+) for the best approval odds.
- 2
Compare Your Options
Compare the Fidelity Rewards Visa with similar cards from other issuers to ensure it is the right fit.
- 3
Gather Required Information
You will need your Social Security number, income information, and address to apply.
- 4
Complete the Online Application
Visit Elan Financial.com or the Elan Financial mobile app. The application takes about 5-10 minutes.
- 5
Await Approval Decision
Most applicants receive an instant decision. If approved, your card will arrive in 7-10 business days.
Frequently Asked Questions
You need Good-Excellent (670+) credit to be approved for the Fidelity Rewards Visa. Approval is not guaranteed and depends on your overall credit profile.
Yes, with no annual fee, this card is worth keeping in your wallet indefinitely.
The purchase APR is 19.24% - 29.24% Variable.
Yes, there is a 1% foreign transaction fee.
Rewards can be redeemed through your Elan Financial online account. Options typically include statement credits, gift cards, travel bookings, and direct deposits.
Conclusion
The Fidelity Rewards Visa is a solid choice in the cash back cards category. With no annual fee and competitive rewards, it offers good value for the right consumer.
We recommend this card for anyone with Good-Excellent (670+) credit looking for cash back on their everyday spending. Compare it with other cards in our list to find the best fit for your wallet.
The Fidelity Rewards Visa earns 2% unlimited cash back into fidelity account. With a rating of 8/10, it is one of the better options in the cash back cards space. Recommended for consumers with Good-Excellent (670+) credit.