Home Credit Cards The Surprisingly Good Benefits You Get With The No-Annual-Fee Fidelity Visa Signature Card

The Surprisingly Good Benefits You Get With The No-Annual-Fee Fidelity Visa Signature Card

by joeheg

My most recent credit card application was to get the Fidelity Rewards Visa card. This card earns 2% cash-back on all purchases. Issued by Elan Credit Services, some people complain about this card because of the somewhat difficult approval process and the wonky website interface.

Since I’ve been a longtime Fidelity customer, I figured it might be easy for me to get approved for the card. Once I submitted my application, I was immediately approved with a healthy credit line. It was a bit of a hassle to set up my online account but nothing easy is worth it.

When I received my welcome packet, I noticed that the Fidelity card was a Visa Signature card. This means that it comes with many of the same perks of premium travel cards even though this card carries no annual fee.

  • Purchase Security – This provides 90 days of coverage for new purchases for up $500 of damages due to theft, damage due to fire, vandalism accidentally discarged water or weather conditions.
  • Extended Warranty Service – Doubles the time period of the original manufacturers warranty up to one year for warranties of three years or less
  • Auto Rental CDW (Collision Damage Waiver) – The card provides secondary rental car protections for rentals in the US if you have your own car insurance.
  • Lost Luggage Reimbursement – Up to $3,000 of damages if your baggage is lost. This is different than delayed baggage (and if you want coverage for that you should use one of these cards.)
  • Travel Accident Insurance – No one wants to think about this but if you should die or suffer catastophic damage while on a trip paid with the card, you’d be eligibile for a large settlement.
  • Roadside Dispatch – For a set price you have access to a set price for towing, tire changing, jump starts, lockout service, fuel delivery or winching.
  • Visa Signature Concierge –  You get access to the Visa Signature Concierge and discounts from the Visa Signature Luxury Hotel Collection discounts.

Say what you will, but these are the same benefits you get with many other travel credit cards with $100+ annual fees that only earn 1 point per dollar on most purchases. Getting the same benefits for a card that earns 2% cash back with no-annual-fee makes you re-evaluate the value you’re getting from those cards.

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This post first appeared on Your Mileage May Vary


Gary Weinstein August 13, 2020 - 11:07 am

I have had this card for at least 10 years and the cash back is ok but the card issuer (Elan services) is absolutely horrible about resolving charge disputes. Process requires filling out paper forms and mailing them only to have Elan find almost always (according to other online reviews and my experience) resolve in favor of the merchant. Even easy cases of a travel provided who doesn’t or can’t provide was was purchased. For this reason o no longer use this card.

Jay Phillips February 23, 2021 - 9:27 pm

Fidelity Discontinuing Extended Warranty Coverage as of March 31, 2021. Based on my preliminary investigation, this is NOT a Visa instituted change. Regardless, it sucks.


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