Fidelity

Fidelity Investments was founded in 1946 by Edward Johnson II as a privately-held company serving investors across North America. Since then, it has grown to become one of the largest mutual fund and financial services corporations in the world. Besides mutual fund management, Fidelity also offers brokerage services, retirement, life insurance, and credit card services. Fidelity has 140 investor centers across the country and manages over $2.06 trillion in assets.

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The Good

• APR
• Rewards programs
• No annual fees
• Fraud safeguards

APR

Fidelity offers a fixed APR of 14.24 percent* for purchases and balance transfers. The fact that the rate is fixed and not variable depending on the prime rate is nice because it means that cardholders are locking in a relatively low rate.

Rewards Programs

Fidelity offers a number of rewards to its cardholders, including unlimited 2 percent cash back and 2x rewards points for every dollar spent. There are no limits on the number of rewards points that a customer can earn. Additionally, points do not expire, which is a very appealing feature.

No Annual Fees

Some credit card companies charge annual fees of up to $450 per year. However, Fidelity does not charge an annual fee at all, which makes owning a credit card much more affordable.

Fraud Safeguards

To guard its customers' information and accounts, Fidelity provides security measures and tips. For example, the company has a two-factor authentication process in place that is designed to prevent an unauthorized person from accessing an individual's account, even if they know the password.

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The Bad

• Foreign transaction fee
• Undisclosed information

Foreign Transaction Fee

Fidelity customers who use their card to make a foreign transaction will incur a fee of 1 percent of the total charge. Although this isn't the highest foreign transaction fee in the industry, there are several credit card companies who do not charge foreign transaction fees at all.

Undisclosed Information

After looking at Fidelity's corporate website, it is unclear whether or not the company charges late payment fees. Additionally, the company has not disclosed whether or not it offers free credit score tracking to its cardholders.

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The Bottom Line

Fidelity offers a competitive fixed APR, rewards programs, and fraud safeguards. Additionally, the company does not charge an annual fee. However, Fidelity does charge a foreign transaction fee and has not disclosed some important information on its website.