This Rewards Card Isn’t Just About Perks — It Helps You Save and Invest, Too

Put your cash back to good use.

Update: Some offers mentioned below may have changed or are no longer available. View current credit card offerings from our partners at CardCritics here or on the issuer’s website.

Credit cards have a tough reputation, especially among those who’ve struggled with debt. That’s probably because the defining feature of a credit card is its ability to let you borrow money, you know, on credit. Of course, there’s another way to use your credit cards. When you avoid interest charges by paying each month’s statement balance in full, then your credit card is essentially just another form of payment. Used this way, it’s not a means of financing purchases you can’t afford and possibly going into debt. If you’re one of those people who pays their balance in full every month, then you can and should be earning the most valuable rewards possible from your spending.

Rewards credit cards offer you travel rewards or cash back that the vast majority of credit card holders use for discretionary purchases, such as free merchandise or vacations. But a savvy few will use a credit card like the Fidelity® Rewards Visa Signature® Card to save the cash back that they earn as rewards. Furthermore, this card offers one of the highest rates of cash back of any credit card, which means it could be the best deal for your needs.

How the Fidelity® Rewards Visa Signature® Card Helps Grow Your Investments

The best thing you can do with your money is to save and invest it, and the Fidelity® Rewards Visa Signature® Card is encouraging just that. When you use this card, you’ll earn 2% cash back on all of your purchases — there are no bonus categories and no limits to worry about. The only catch, if you want to call it that, is that the rewards you earn must be deposited in a qualifying account with Fidelity Investments, such as a brokerage, IRA, 529 college savings or cash management account. It even works with Fidelity’s health savings accounts (HSAs) and charitable giving accounts.

Get Credit Card Perks

As a result, this card actually becomes a vehicle for channeling 2% of your spending into your savings or investment portfolio. But that’s not the only treat for card users: New applicants can jump-start their savings by claiming an additional $100 cash back when they use their card to make $1,000 in new purchases within 90 days of account opening.

This card has no annual fee, but there’s a foreign transaction fee of 1%. That’s not zero, but it’s less than the cash back you earn, and it’s lower than the 3% foreign transaction fees still imposed by many cards. It’s also compatible with all the major mobile wallet standards including Apple Pay, Google Pay, Samsung Pay and Microsoft Wallet.

Read: Getting a Travel Rewards Credit Card Is the Best Money Move I Ever Made

Is This Cash-Back Card Right for You?

It’s not easy to pick a rewards card, but if you’re serious about your financial future, consider this card. This is the right product for those who want to use their credit card rewards to bolster their savings and investment strategy — not to get into debt. But if you need to carry a balance on your credit cards some or all of the time, then this isn’t the card for you. Like all rewards credit cards, this card will have a higher standard interest rate than similar cards that don’t offer rewards. If you’re unable to pay your credit card balance in full every month, then you should be looking for a credit card with the lowest standard interest rate, which won’t be a rewards card.

Get Credit Card Perks

If you’d rather save and invest than accumulate travel rewards or spend the cash back, then you need to consider the Fidelity® Rewards Visa Signature® Card.

Click through to see these surprising uses for your credit card rewards.

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About the Author

Jason Steele

Jason Steele is a full-time freelance writer and an expert in credit cards, travel, and general personal finance. He has been writing about credit cards and award travel since 2008, and is widely recognized as an expert in this industry. He has been published in over 100 outlets and has been widely quoted in mainstream media. Jason is also the founder and producer of CardCon, which is The Conference for Credit Card Media. Jason lives in Denver, Colorado with his wife and three children.

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