Citi Double Cash vs. Fidelity Rewards Visa: Double Cash Gives You More Options
They both offer comparable flat-rate rewards and no annual fee, but the Double Cash is more flexible.
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If you're looking for relative simplicity in a credit card, the Citi Double Cash® Card and the Fidelity® Rewards Visa Signature® Card are options worth considering. Unlike cards with bonus categories, these flat-rate cash-back cards give you the same percentage cash back on all your purchases, making them less complicated to use.
As with most credit cards, however, they come with some caveats. Both the Citi Double Cash® Card and the Fidelity® Rewards Visa Signature® Card charge no annual fee and offer cardholders a solid 2% cash back. But the Citi Double Cash® Card doesn't automatically give you 2% back. It gives you 1% when you make a purchase and 1% when you pay it off. The Fidelity® Rewards Visa Signature® Card, on the other hand, gives you the full 2% back upfront, but you have to be an existing Fidelity customer to benefit.
Here’s how the cards compare.
At a glance
| Citi Double Cash® Card | Fidelity® Rewards Visa Signature® Card | |
|---|---|---|
| Annual fee | $0. | $0. |
| Sign-up bonus | Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back. | None. |
| Rewards | 2% cash back on purchases, distributed in two stages:
| 2 points for every eligible dollar spent, which equals 2% cash back when deposited into an eligible Fidelity account. |
| Foreign transaction fee | 3%. | None. |
Why the Citi Double Cash® Card is better for most people
These cards feature similar rewards, but the Citi Double Cash® Card outpaces the Fidelity® Rewards Visa Signature® Card in a few key areas that will push it over the edge for most people.
Reward accessibility and flexibility
If your goal is long-term savings, the Fidelity® Rewards Visa Signature® Card can be ideal. However, to snag the full 2%-back value with the card, you must deposit your money into an eligible Fidelity investment account. That means you’ll need a Fidelity account — and be willing to keep your rewards parked there long term — to get the most value from the card. But you don’t need an existing Citi account to get or maximize your rewards with the Citi Double Cash® Card. You can redeem for cash back whenever you'd like, and in a variety of different ways, including as a statement credit, a check or a deposit to a bank account.
Additionally, because the rewards you'll earn from the Citi Double Cash® Card come in the form of Citi ThankYou points, they're more flexible than what you'll get from the Fidelity card. Yes, you can redeem those points for cash back at a value of a penny each, but you can also choose to redeem them for travel, either by booking through Citi's portal or by transferring them to Citi’s multiple airline and hotel partners. Transfer ratios vary and may not be favorable, but the option exists:
Full list of Citi transfer partners
Transfer ratios will vary depending on which card you have.
Airlines
- Aeromexico (1:1 or 1:0.7 ratio).
- American Airlines (1:1 or 1:0.7 ratio).
- Air France/KLM (1:1 or 1:0.7 ratio).
- Asia Miles (1:1 or 1:0.7 ratio).
- Avianca (1:1 or 1:0.7 ratio).
- Emirates (1:0.8 or 1:0.56 ratio).
- Etihad (1:1 or 1:0.7 ratio).
- Eva Air (1:1 or 1:0.7 ratio).
- JetBlue (1:1 or 1:0.7 ratio).
- Qantas (1:1 or 1:0.7 ratio).
- Qatar Airways (1:1 or 1:0.7 ratio).
- Singapore Airlines (1:1 or 1:0.7 ratio).
- Thai Airways (1:1 or 1:0.7 ratio).
- Turkish Airlines (1:1 or 1:0.7 ratio).
- Virgin Atlantic (1:1 or 1:0.7 ratio).
Hotels
- Accor Live Limitless (2:1 or 2:0.7 ratio).
- Choice Hotels (1:2 or 1:1.4 ratio).
- The Leading Hotels of the World (5:1 or 5:0.7 ratio).
- Preferred Hotels & Resorts (1:4 or 1:2.8 ratio).
- Wyndham (1:1 or 1:0.7 ratio).
Events
- Virgin Red (1:1 or 1:0.7 ratio).
Just remember, though, that the Citi Double Cash® Card doesn’t automatically give you 2% back per dollar. It gives you 1% back when you make a purchase and 1% when you pay off the balance. If you’re in the habit of carrying a balance month to month, the 1% you’d get is a much lower rate than what most rewards cards offer. Plus, if you don’t pay off your balance in full each month, interest will quickly negate the rewards you’ve earned anyway.
🤓 Nerdy Tip
If you need to carry a balance, look for a credit card with a 0% introductory APR offer or low ongoing interest rate. 0% introductory balance transfer offer
If you have credit card debt, you can save on interest by transferring your balance to the Citi Double Cash® Card. It offers a 0% intro APR on balance transfers for 18 months, and then the ongoing APR of 17.49%-27.49% Variable APR. When you transfer a balance (within the first 4 months), you’ll have to pay either a 3% or $5 fee, whichever is greater. But if you have credit card debt, the Citi Double Cash® Card can save you a significant amount of money on interest and help you pay off your debt faster. You’ll need to transfer any balances within the first four months of your account being open.
The Fidelity® Rewards Visa Signature® Card doesn’t have a balance transfer offer.
Where the Fidelity® Rewards Visa Signature® Card has an edge
Long-term savings
The Fidelity® Rewards Visa Signature® Card rewards loyalty and long-term saving. The card offers multiple redemption options, but your rewards won't be worth as much unless you deposit your cash back into an eligible Fidelity investment account. Note that Fidelity 401(k) plans don't qualify.
If you’re an existing Fidelity customer, the card is a simple way to help score some additional money — but only if you’re OK with socking it away for your future instead of using it now. Also, you won't be able to use these rewards to fund an initial deposit; they'll need to be invested in an existing account.
Better travel companion
Unlike its competitor, the Fidelity® Rewards Visa Signature® Card does not charge a foreign transaction fee. (The Citi Double Cash® Card charges a 3% fee). This makes it a better card to travel with because you won’t rack up fees on your purchases abroad.
Additionally, the Fidelity® Rewards Visa Signature® Card uniquely offers credit of up to 10,000 Reward Points (worth up to $100) every four years for the Global Entry or TSA PreCheck application fee, when you pay with the card. Although this perk is common among travel cards that charge fees, it's rare for a no-annual-fee card to offer it. The Citi Double Cash® Card offers no such credits.
Which card should you get?
If you’re a Fidelity customer who is looking for another way to boost your investments, the Fidelity® Rewards Visa Signature® Card can help you eke out some extra funds for your future. Otherwise, it’s a no-brainer: The high rewards rate coupled with flexible redemption options make the Citi Double Cash® Card a great choice no matter how you use your rewards.
Plus, its reward structure can encourage you to pay off your balance each month — win, win.
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