Been searching for a solid 2% catch all card for a while. The Fidelity Visa is the most intriguing to me. I already have my 401k match through Fidelity via my job alongside the employee stock purchase plan. I plan to open a ROTH IRA with them too.
I’ve heard it’s not good to have all your eggs in a basket with retirement plans and savings but personally, I trust Fidelity more than I trust Robinhood considering they were my second choice of ROTH IrA with their match and 3% gold card.
But I feel like that card is bound to get nerfed eventually and I already got screwed over getting the USBAR only for it to be nerfed a year later 🤣
Is the Fidelity 2% Visa the right card for me?
byu/PapiGeorge inCreditCards
Posted by PapiGeorge
6 Comments
don’t be overly concerned about getting nerfed. Fidelity have had 2% reward rate for two decades plus, initially with the Fidelity Amex before moving to the current Elan Fidelity Visa. The 2% rewards have been through market conditions thick and thin, and have stood the test of time.
of course, any card can hypothetically get nerfed at any time for no reason. The Fidelity Visa is not immune to this, just saying their sustainable business model makes it highly unlikely.
Fidelity’s been a 2% card since 2003. I would vote it the very least likely card to get nerfed out there. The worst I can see happening is they shut down the $150 SUB link and leave it without a public SUB offer.
Your reasoning sounds solid. Go for it. I have no issues with the cards or fidelity accounts.
Depends on what you want. If you want a pure cashback card with no Foreign Transaction Fee, then Fidelity’s 2% card is the best option. If you want a hybrid setup(cashback or transfer partner points) you need to research Cit’s Double Cash and Wells Fargo’s Active Cash cards.
I would go for it, along with opening a CMA. The CMA debit card and the Fidelity Rewards card, for no minimum balance, or minimum transactions provides:
**On the CMA**
* No annual fees or FTFs
* Worldwide ATM fee reimbursement
* Decent cash management account with good enough interest rates, free wires, and billpay
**On the Credit Card:**
* No annual fees or FTFs
* Travel protections, including lost luggage, travel accident, secondary rental car CDW, and emergency travel assistance.
* Purchase protection
* $100 TSA pre-check credit
The 2% only counts when redeeming reward points to a Fidelity account. Sure, you could withdraw from there. However, IMO, it actually is a 1% card with Fidelity sacrificing the other 1% as a loss leader presuming that you not withdraw to an external checking or savings account.
Given the broad availability of 1% cards, I doubt we would see this demoted.