Fidelity Credit Card Basics

Fidelity offers credit cards through partnerships with major card networks, not as its own issuer. The cards are designed to work alongside a Fidelity brokerage or retirement account, rewarding you with cash back or points that deposit directly into your Fidelity account. You open one through Fidelity's website or by phone, and the process is similar to opening a card with any other financial institution — you provide personal information, authorize a credit check, and wait for a decision.

The specific card you can open depends on what Fidelity is currently offering. Fidelity has partnered with issuers like Elan Financial Services to produce cards with different reward structures. Some cards focus on cash back across all purchases; others offer bonus categories. All require you to have or open a Fidelity account to use the rewards feature, though you can use the card itself without one.

Key Takeaways

  • Fidelity credit cards are issued by partner banks, not by Fidelity itself, but rewards post to your Fidelity account.
  • You need a Fidelity brokerage or retirement account to earn and track rewards, though you can open both the account and card in one process.
  • The card opens online or by phone after you provide income, employment, and credit authorization information.
  • Credit decisions typically come within minutes to a few business days, and approved cards ship within 7 to 10 business days.
  • Fidelity rotates which cards it offers, so the specific card available to you depends on current partnerships and your account type.

What You Need Before You Start

Have your Social Security number, current income, and employment information ready. You will also need a valid government-issued ID and a current mailing address. If you do not already have a Fidelity account, you can open one during the card process — you will need to provide your date of birth and answer identity verification questions.

Check which Fidelity card is currently available to you. Fidelity's website lists active cards under its credit card section, and availability can vary by account type (brokerage, IRA, 401(k), etc.). Some cards are only offered to existing Fidelity customers; others are open to new customers as well.

Opening a Card Online

Go to Fidelity's website and navigate to the credit card section. Select the card you want and click through to the process. You will enter your personal information, including name, address, date of birth, and Social Security number. The form will ask for your annual income and current employment status.

After you submit, Fidelity will run a hard credit inquiry, which temporarily lowers your credit score by a few points. You will receive a decision within minutes to a few business days. If you are approved, you can log into your Fidelity account when ready to see your new card details and set a PIN. The physical card ships within 7 to 10 business days.

If you do not have a Fidelity account yet, the process will prompt you to open one. You can choose the account type (brokerage, IRA, or another option) during this step. Your rewards will deposit into whichever account you select.

Opening a Card by Phone

Call Fidelity's customer service number to open a card over the phone. A representative will walk you through the same information you would enter online: personal details, income, and employment. They can also answer questions about which card is right for your situation and explain the rewards structure before you commit.

Phone applications take longer than online ones — expect 15 to 30 minutes for the full process. You will still receive a credit decision within the same timeframe as an online process, and the card will ship on the same schedule.

What Happens After Approval

Once approved, log into your Fidelity account to set up your card and set a PIN. You can use the card number when ready for online purchases before the physical card arrives. When the card comes in the mail, set up it by calling the number on the back or through your Fidelity account.

Your rewards will begin posting to your Fidelity account as you use the card. Depending on the card, rewards may post monthly or quarterly. You can redeem them as cash, invest them, or transfer them to other accounts within Fidelity. Check your card's terms to see the exact posting schedule and redemption options.

If Your process Is Denied or Pending

A denial usually means your credit score is below the card's minimum requirement or you have recent negative marks on your credit report. Fidelity will send you a letter explaining the reason. You can request your free credit report from AnnualCreditReport.com to see what appeared in the inquiry and address errors if any exist.

If your process is pending, Fidelity may need additional information — usually income verification or clarification about your employment. The company will contact you by phone or email. Respond promptly to move the process forward. You can also call Fidelity directly to check the status of a pending process.

Comparing Fidelity Cards to Other Options

Fidelity cards make sense if you already use Fidelity for investing or retirement savings, because rewards deposit directly into your account and you can reinvest them when ready. If you do not have a Fidelity account and do not plan to open one, a card from another issuer may be simpler — you would not need to maintain an extra account just to track rewards.

The rewards rates on Fidelity cards are competitive but not exceptional. Compare the cash back percentage, annual fee (if any), and bonus categories to cards from Chase, American Express, or Capital One. The real advantage is integration: if Fidelity is already your financial hub, the card fits naturally into your workflow.

Frequently Asked Questions

Do I have to have a Fidelity account to open the card?

Yes. You need a Fidelity brokerage, IRA, or other investment account to earn and track rewards. You can open both the account and card in one process if you do not have one yet, so this is not a barrier — just an extra step.

How long does it take to get approved?

Credit decisions come within minutes to a few business days. Once approved, the physical card ships within 7 to 10 business days. You can use the card number online when ready after approval, before the physical card arrives.

What if I have bad credit?

Fidelity cards typically require fair to good credit. If your score is below 650, approval is unlikely. Check your credit report for errors, dispute any inaccuracies, and wait a few months for negative marks to age before explore again.

Can I use the card without investing money in my Fidelity account?

Yes. You can open a Fidelity account with zero dollars and use the card when ready. The account exists to hold your rewards; you do not have to fund it with investments or deposits.

What happens to my rewards if I close the card?

Rewards that have already posted to your Fidelity account stay there. Rewards that have not yet posted may be forfeited depending on the card's terms. Check your card agreement for the exact policy before closing.