The Offer
Direct Link (requires unique offer code. E-mail subject line is “Earn up to an Additional 2,000 Bonus Points’)
- The Fidelity 2% Visa card from Elan is sending out various targeted spend offers on the card offering an additional 2,000 points ($20)
- Get 1 point per dollar (3% cash back total instead of the standard 2%) on up to $2,000 in spend after meeting an initial spend amount on the card
The Fine Print
- Offer valid after enrollment, from August 1 to September 30th
- Must enroll by August 31st
Our Verdict
Basically, you’ll earn 2% until you hit the threshold, and then you’ll begin earning 3% for the next $2,000 in spend. Elan probably figures out how much they expect you to spend, and they offer you an extra 1% to spend beyond that (max $20).
If you use 2% cards a lot anyway, you might as well shift from Double Cash to Fidelity and get the $20 bonus. These days, there are some 2.5% or 3% cards available, and it won’t necessarily be worth shifting your spend (depending what threshold you got from Elan). In any case, read the terms closely before using. It took me a few minutes until I realized that I do not get 2,000 bonus on $1,900 spend; rather, I get 1 point per dollar beyond $1,900 in spend.
People are still waiting for their $20 Amazon bonuses and $20 bonus from June as well.
Hat tip to reader Avi
My minimum was $50, I haven’t been using it lately, I guess I got lucky.
If you do this, be aware it takes a long time for the bonus points to post.
These offers from Elan for the Fidelity card definitely seems to take your prior statement balance(s) from either a couple months or a month before the promotion start to calculate the minimum spend amount.
Somewhat related: They have a problem accurately updating their ads and promos. I have seen the $100 back after $1000 spend signup promo offer show up in my Google ads on the sidebar during the month of July. When you click on the ad, it says the offer expired June 30th, but if you look at the above paragraph, the interest rate was updated on June 17, 2017 for the same promo that has been around for a year. Google “100 bonus fidelity visa” the top ad will be the expired ad.
Sadly, I was thinking of getting this card, but I don’t want to have to maintain yet another brokerage account to get full value of the cash rewards.
You don’t need a brokerage account just a Fidelity Cash Management account which is their version of a checking account product.
You can see the Fidelity Cash Management account details from link below.
https://www.fidelity.com/cash-management/fidelity-cash-management-account/overview
Correction noted – thanks for the information. OK, still, yet another checking account to keep track of. I have a ridiculous number of accounts as is. Do I really need another? (first world problem)
I don’t spend a lot of money, and what I do spend usually goes towards bonus categories, or min. spend on the “flavor of the month” new CC. I don’t MS, other than the occasional CC funding of a bank account.
With the Fidelity $50 min. redemption, it would take me about 6 months to get my rewards after the signup bonus (bonus which is now expired, so not an issue). I settle for the 1.5% CC rewards and life goes on, losing an estimated $30 a year at 1.5% vs 2% rewards. Maybe someday I will just convert a Citi little known card I have that’s been sock drawered into a DC.
Mine was just $50. I only use it occasionally so I assume that’s why.
This was my offer lol
“As a valued Fidelity® Rewards Visa Signature® Cardmember, you’re eligible to earn 150 bonus points!¹ It’s simple. Spend a minimum of $75 from August 1 through September 30, 2017, and you’ll earn 150 bonus points redeemable for cash back² into an eligible Fidelity account!³ Be sure to enroll in the offer by August 31. “
My minimum is just $150. Haven’t used elan visa card for a long time.
My minimum was $150. I never use the card, so thats probably it
Fine print above says “Must enroll by August 1st”. Hard to do when this was posted by August 2nd.
Looks like a typo, my email says August 31st not 1st.
Typo sorry, August 31st.
My minimum was $6700.