Fidelity Card Will Lose Two Benefits, Add Two Travel Perks

Fidelity is changing its credit card program, with cardholders losing access to two benefits while picking up two others.

The Fidelity Rewards Visa Signature Credit Card — which offers unlimited 2% cash back rewards when cardholders elect to deposit their rewards points into an eligible Fidelity account — doesn’t charge an annual fee.

Elan Financial Services issues the card on Fidelity’s behalf. But it will soon come without the Purchase Security and Lost Luggage Reimbursement benefits it currently offers.

Those two perks will both go away on January 1, 2027, according to the card’s benefits guide. The changes apply to all Fidelity Rewards Visa Signature cardholders, Fidelity told CardRates.

Purchase Security currently protects eligible purchases against fire, certain instances of theft, and other covered damage for 90 days following the purchase date. It provides coverage of up to $500 per claim and $50,000 per cardholder.

Lost Luggage Reimbursement covers eligible checked or carry-on baggage that is stolen or misdirected by a common carrier. The secondary benefit can reimburse remaining losses after payments from the carrier, another insurer, or another reimbursement source, up to $3,000 per covered trip. Exclusions and a different limit for New York residents apply.

CardRates asked Fidelity whether purchases and trips paid for before January 1 would remain covered if a qualifying loss occurred afterward.

The company confirmed that trips for which the common-carrier fare was purchased before January 1 will remain eligible for claims, though cardholders may be required to provide documentation verifying the purchase date.

Fidelity did not address whether purchases made before that date will retain Purchase Security for the remainder of the current 90-day coverage period.

The two benefits Fidelity recently added to the card may make up for the pair going away. A Fidelity cardholder wrote on Reddit that they received an email announcing the new benefits in late August.

At least one of the additions is likely to please people looking to save money on common travel costs. Cardholders who enroll and use their Fidelity card to rent a vehicle from National Car Rental can receive up to 25% off the base rate of a qualifying rental.

The discount applies only to the base rate at participating locations and requires a reservation at least 24 hours in advance. Taxes, fuel, airport charges, and optional products cost extra, and the offer generally cannot be combined with other discounts.

Cardholders can also receive a free year of Emerald Club Executive-level membership, which provides complimentary vehicle upgrades on eligible reservations and puts members in a position to earn free rentals faster.

Fidelity is also adding emergency medical and dental coverage. Eligible cardholders can receive reimbursement of up to $2,500 for covered emergency medical and dental expenses if they become sick or are injured while traveling. Coverage is subject to the benefit’s covered-trip requirements, exclusions, and other terms.

Fidelity told CardRates that it periodically reviews the benefits offered through its card program to ensure they provide meaningful value to customers. Cardholder usage is one factor the company considers when evaluating potential changes.

That ongoing evaluation led Fidelity to roll out the new travel-oriented benefits, details of which have been communicated directly to eligible cardholders. Fidelity did not announce any changes to the card’s annual fee or core rewards structure, and the company said it has no additional changes to announce at this time.