Updatae: It was later confirmed that the new Fedelity Visa card does not earn FlexPoints, so it’s a 2% cash back card after all.
For everyday spending cards, I think this past year has been a great year – there’s 2x Citi DoubleCash card, and Discover offering 2x for the first year (which is actually more than 2x considering you can redeem for gift cards at higher values and the quarterly 10x bonus), and most excitingly, have you recently heard about the FIA card switching to US Bank and changing into a Visa card?
Well officially it’s a 2X card…
According to what’s described in Fidelity Visa’s official webpage, it’s actually a 2x card. Which is not a bad deal – I mean how many cards are there that offer you 2% cash back on all spending? There is no sign-up bonus, a negative – but if you don’t have any 2x credit cards, it would be a good card to get and keep. After all, the other 2x card, as far as I know, Citi DoubleCash also doesn’t offer any sign-up bonus.
But it might actually be a 4x card…
The speculation seems to have originated from Endpoint, revealing customer reps confirming the card is earning FlexPoints. And 2x FlexPoints could be redeemed for flights up to 4x in cash value – meaning the card could be actually a 4x card. That’s huge! A 4x unlimited and unrestricted rewards for a credit card is to die for! But the thing is, this is more like a rumor – it’s never really been confirmed by anyone. As a matter of fact, Loopholetravel thinks it’s probably not 4x because they have actually applied for the card and only found it to be a mere 2% cash back card, or if redeemed for travel, up to 2% cash back. But the issue here is, they don’t have a FlexPerks card – will owning a FlexPerks card make any difference? I don’t know.
Will I apply?
No. Until it’s proven that it’s indeed a 4x card I will not bother applying, mostly because I have an excellent 3.3x card. I do have FlexPerks card from US Bank but I don’t think I want to waste another hard pull just to see if the Fidelity Visa is actually earning FlexPoints. For the most part I agree with EndPoint – it’s probably just a 2% cash back. However, one thing that keeps the hopes up is that the FIA card never officially stated that it is earning WorldPoint making it actually a >3x card, so Fidelity Visa just doesn’t officially state that it’s actually earning FlexPoints? I hope so.
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