Fidelity Rewards Visa: The Best Go-To Travel Card?
Hey everyone, Philip here with Points of Phillip! Today, I'm posing a question that might shake up your wallet strategy: Is the Fidelity Rewards Visa the ultimate one-stop-shop travel card? Could it even beat out the Capital One Venture?
Okay, let's break it down. We'll look at the Fidelity Rewards Visa, then the Capital One Venture, and then discuss why some travelers might prefer one over the other.
Why the Question? A Reddit Revelation
This whole idea stemmed from a conversation I saw on the Fidelity subreddit. A user had switched from the Chase Sapphire Reserve to the Fidelity Rewards Visa, citing a desire for simplicity and no more "couponing." This aligns with a growing trend: the quest for a single card that handles everything without the need for complex points systems or category tracking. (Remember my recent video about the City Strata Elite? It's similar, but some people want even more simplicity).
I get it. Even with tools like MaxRewards to manage multiple cards, the idea of a single, straightforward solution is appealing. So, can the Fidelity Rewards Visa be that card for travelers?
Fidelity Rewards Visa: The Simple Powerhouse
Earning: 2% cash back on every purchase. No limits, no restrictions. Just a flat 2% on everything.
Redemption: Points are automatically redeemed monthly into a Fidelity account of your choosing. (Ideally a Fidelity account for optimal benefits). You can even direct rewards to a 401k, IRA, 529 plan, or HSA!
Annual Fee: $0. That's right, no annual fee.
Foreign Transaction Fee: None! A big win for international travel.
Travel Perks: Global Entry or TSA PreCheck credit (up to $100).
Visa Signature Benefits: Accepted virtually everywhere, plus auto rental coverage.
Purchase Protection: Additional purchase protection up to $500.
Collision Damage Waiver: Up to $75,000 (secondary in the US, primary overseas).
This card is all about earning 2% cash back on everything.
The Downsides?
The main drawback is that the card is issued through Elan Financial, a subsidiary of US Bank, and their customer service is...not always the best. Some users have reported issues with delayed credit line access after making payments. So, customer service could be a gamble.
Overall, a solid card with no foreign transaction fees, no annual fee, 2% cash back on everything, and TSA PreCheck plus point redemptions at the end of your statement.
Capital One Venture: The Travel Rewards Contender
Let's compare this with the Capital One Venture card. (I'm focusing on the standard Venture, not the Venture X, for a more direct comparison with a no-frills card).
Earning: 2x Capital One miles per dollar on all purchases.
Transfer Partners: Immediate access to Capital One's transfer partners. If you have a Capital One Saver card, you can combine rewards for even more flexibility.
Sign-Up Bonus: A significant 75,000 miles after spending $4,000 in 3 months. (A major advantage if you qualify). The Fidelity Rewards Visa sometimes offers a sign-up bonus, but it's typically smaller (like $150 after spending $1,000). Note that you can also get a Venture card for good credit, but that version of the card does not come with any signup bonuses.
Travel Perks & Protections:
No foreign transaction fees.
Rental car collision damage waiver (secondary).
TSA PreCheck or Global Entry credit (up to $120).
Trip cancellation and interruption insurance.
Roadside assistance.
Lounge Access: The Venture card used to offer two Capital One lounge visits per year, but that benefit ended last year. Now, you can access Capital One lounges for a reduced rate of $45 per person.
The Verdict: Which Card Wins?
The cards have similar benefits and features. But one card is free and one is not.
The key differentiator is the signup bonus. If you can snag the 75,000-mile bonus with the Venture card, it's a no-brainer, at least for the first year. But if you're looking for a simple, no-annual-fee card that works anywhere in the world, the Fidelity Rewards Visa is a strong contender.
While Capital One is generally better at fraud detection, Fidelity lets you notify them of your travel plans to minimize the risk of declined transactions.
Ultimately, if you're team cashback and want a single card for maximizing all your purchases without the hassle, the Fidelity Rewards Visa is a great option. While the Capital One Venture has been my go-to, if I were to switch to a cashback setup, the Fidelity Rewards Visa would definitely be on my list.
Thanks for reading, and I'm eager to hear your thoughts! Until next time!