Unlimited 2% cash return 1 with no Annual Fee 2 Helps Cardmembers Turn daily Spending towards Investment Opportunities
BOSTON, BAY AREA & MINNEAPOLIS–( COMPANY WIRE )–Fidelity Investments В® , a respected retail brokerage and your retirement cost savings provider, today announced with U.S. Bank (NYSE: USB) and Visa Inc. (NYSE: V) a brand new long-lasting card-issuing system that may provide Visa branded credit-card services and products to U.S. customers, including FidelityвЂ™s 24 million clients.
вЂњCustomers making use of FidelityвЂ™s 2% cash return bank cards have actually received significantly more than $1 billion in money rewards since 2003 3 , showing that the chance to utilize everyday spending to aid bolster efforts for longer-term cost savings and investment objectives is just too good to disregard,вЂќ said Ram Subramaniam, president of FidelityвЂ™s retail brokerage company. вЂњWe are excited become dealing with leaders Visa and U.S. Bank — together you can expect the Fidelity Rewards Visa Signature Card — now perhaps one of the most valuable cards that are cash-back the industry.вЂќ
Underneath the card that is new, U.S. Bank will issue the Fidelity В® Rewards Visa Signature В® Card and also the Fidelity Investments 529 College Rewards В® Visa Signature В® Card 4 , where cardmembers can make limitless 2% cash return with no yearly costs, caps or categories whenever directing benefits into qualified Fidelity records 5 . The latest cards within the system may be given with chip technology for safety and present use of the repayment industryвЂ™s leading digital wallets, including Apple Pay, Samsung Pay and Android os Pay.
вЂњWe are worked up about VisaвЂ™s expanded agreement with Fidelity Investments and U.S. Bank, and exactly how together we are going to bring cardmembers convenient, revolutionary and secure methods to spend while assisting them make benefits to simply help investment lifeвЂ™s most significant milestones,вЂќ said Ryan McInerney, President Visa Inc.
вЂњFidelity assets and U.S. Bank are a couple of of the very respected brands for assisting Americans achieve economic security,вЂќ said Shailesh Kotwal, vice president of repayment solutions for U.S. Bank. вЂњTogether, we’re able to provide a new card system|card that is new} that develops on our reputations, rendering it also easier for clients to prepare and build because of personal loans Alabama their economic futures.вЂќ
U.S. Bank has also decided to acquire FidelityвЂ™s existing credit that is co-brand profile with about $1.6 billion in connected balances.
Secure and Be Rewarded
With competitive APRs with no fee that is annual cardmembers make two points for each and every web dollar invested to create towards future investment goals. For instance, with every $5,000 invested, cardmembers will make 10,000 points, comparable to $100 money back 6 when directed into an Fidelity that is eligible account. Cardmembers can decide to receive a one-time or automatic monthly money deposit into many non-retirement records such as for example a Fidelity brokerage account or Fidelity money Management Account, along with a Traditional IRA, Roth IRA, Rollover IRA, SEP IRA or Fidelity-managed 529 College Savings Plan accounts 7 . Cardmembers could also trade points to get:
Cardmembers may also enjoy Visa Signature advantages, including acceptance at an incredible number of vendor areas globally, free concierge services, and enhanced travel/lifestyle premium benefits like lost baggage reimbursement as much as $3,000 8 . Customers can use for a card to discover a list that is complete of benefits at www.fidelity.com/creditcards.
For FidelityвЂ™s Valued Active Cardholders
Cardholders associated with the current co-branded items between Fidelity and FIA Card Services may continue using their card as always and luxuriate in most of the associated advantages. FIA Card Services will continue steadily to offer the system and can even be contacted for just about any charge card help, including concerns on deals, statements, benefits redemption and repayments, just like they are doing today. Cardholders will quickly get information from Elan Financial Services вЂ“ a division of U.S. Bank which will handle the system вЂ“ in mid-2016. To find out more now, visit www.fidelity.com/cardmember-faqs.